Group Financial Controller
Zumran Mining & Exploration Limited
Total des années d'expérience :20 years, 8 Mois
Head the accounting, taxation (planning & compliance) materials management, procurement and information systems functions;
Manage the centralized Trade Finance and Corporate finance functions of the group. Managing the treasury function throughout the turbulent environment;
Handled the transition from a family managed business to family governed corporate enterprise;
Implemented enterprise-wide risk management & budgetary control system and standard operating practice.
Report to the Board and advice on all matters relate to finance, commercial compliance & taxation.
Key Deliverables at Fertilizer Distribution Division (US$110 Million Turnover)
Implemented a customized ERP system and fully automated the finance and accounting function;
Restructured the fund and non-fund facilities (total of USD 40 Million) with banks to optimize the cash flow and managed to get additional facilities and limits;
Reengineered the procurement function; Got allotment from Saudi Basic Industries Corp (SABIC), Saudi Arabia - as a part of strategic vendor arrangement & procurement program of the company;
Prepared the 5-year-term-strategy and working on projects to explore new markets, necessary strategic partnership and fund arrangements;
Key Deliverables at the Start-up Copper Mining Division (having mining license with for reserve of 49 Million MT Ore)
Working to raise US$250 Million finance for integrated SXEW & Precious Metals recovery plant from international market - mix of equity and debt. Working with China-Africa Development Fund, UK based private equity firms on fund raising;
Prepared the entire project report, presentations and compiled supporting technical documents for this purpose;
Raised US$ 10 Million medium term loan to produce copper cement (phase-1 of the project) from Development Bank of Zambia.
• Implemented SAP FI (finance), SD (sales & distribution) and MM (materials module) for the Iraqi Kurdistan’s largest FMCG distributor - Montery Co.
• Trained local staff in SAP functions, prepared Standard Operating Policies (SOPs) encompassing Finance & Accounting, Supply Chain and HR functions for the entire Iraqi Kuridistan operations
• Integrated SAP with Tableau Business Intelligence tool - enabling the top management of the Group to have ‘real-time’ MIS in an automated and accurate way (AzerSun Group of Azerbaijan & Turkey). This enabled generation of MIS without any human interference / participation.
Designed & Implemented the Chart of accounts, Finance procedures, controls, MIS & ERP (Epicor’s iScala) in the company.
Designed & Implemented Costing & MIS system to ascertain the accurate cost of operations.
Prepared project report for fund raising for two new Hoists / Rigs and managed the complete financing activity including finalizing commercial mortgage, registering the charges on assets etc
Managing day-to-day accounting activities, month end closing of books, managing general ledger etc.
Monitoring & reporting on the day-to-day performance of each Hoist / Rig
Planning & monitoring the resource allocation for each Hoist / Rig
Enabled the mobilization of capital resources, coordinating the import of rigs, equipments & other resources
Managing the Working Capital / Cash Flow; dealing with Bank on Working Capital Facilities, Complying with Credit Monitoring Agreement reporting with Bank
Managing the Statutory Compliances related to various Ministries and Capital Markets Authority & Muscat Securities Market (stock exchange).
Managing other incidental activities like Insurance, C&F clearances etc.
Perform the role of Secretary to the Board
Highlights
Handled the complete project financing of two new Hoists / Rigs
Enabled the mobilization of capital resources, coordinating the import of rigs, equipments & other resources
My role as Controller of Financial & Commercial activities of the Group's Exports division reporting to the Group Financial Director at the Group Head Quarters, include:-
✓ Managing the day-to-day accounting activities
✓ Preparing monthly management accounts, reports & analysis on company's performance and financial position; preparing various reports on set out KPIs.
✓ Preparing the financial reports of the company in accordance with the IFRS/IAS.
✓ Preparing the annual business plan, quarterly rolling plans & periodic forecasting.
✓Managed the Export Letters of Credit (L/Cs), Bank Guarantees and Risk assessment and management of export deals
Worked with M/s. The New India Assurance Company Limited, market leader in General Insurance industry in Afro-Asian region, as Regional Accounts Officer in the cadre of Administrative Officer from July 2005 to Jan 2009. My role and responsibilities include:
✓ Management Reporting & Financial Analysis: Preparing periodic management reports & analysis on Profitability & Performance (Product category-wise; Channel-wise, Operating Office-wise etc.), Budgetary Control Reports,
✓ Financial Reporting: Monthly closure of books and drawing trial balance and reporting to higher office; Managing General Ledger, sub-ledgers, and Group Codes (equivalent to Cost Centers); Ensuring the Accounting Standards are followed; reconciling the sub-ledgers and inter-unit codes (Inter-Unit: - Motor Claims settlements, Other claims settlements, Employee-related transactions including transfers, deputation etc., Asset-related transactions), Coordinating with IT Department for periodic check of Internal controls and reporting;
✓ Annual Finalization of Accounts: Liaison with Technical Departments for Provision for Reserve for Unexpired Risks, After-balance sheet date losses reported / expected, Reserve under various risk-pool funds; Coordinating with statutory auditors on finalization of trial balance; Preparation of schedule to final accounts;
✓ Pricing: Financial modeling for pricing of general insurance products (individually rated) for corporate clients, Coordinating between the marketing force and the Deciding authorities on pricing related issues.
✓ Taxation: Managing the maintenance of records and filling of returns of service tax
✓ Coordinating with the Statutory Auditors, Internal Auditors and C & AG Auditors (Government Audit)
Worked with M/s. Sterlite Industries (India) Limited at their Copper Refinery & CCR plant at Silvassa, India as Plant Accountant / Officer (Finance & Accounts) from August 2003 to July 2005. My role and responsibilities (in SAP environment) include:
✓ Management Accounting & Reporting: Preparation of MIS reports on daily, weekly and monthly basis on - Inventory (Metal Accounts), Cost, and Operations; Preparing the monthly management accounts of the Plant
✓ Preparing Variance Analysis and Budgetary Control reports on monthly basis for Operations Review Meetings
✓ Maintenance of Central Value Added Tax (CenVAT) records and periodic reconciling with Materials Management and Logistics departments' records vis-à-vis accounting records;
✓ Coordinating with Internal auditors on Operations review;
✓ Assisting the Financial Controller on preparation of Rolling Plans.
Chartered Management Accountant
Cost & Management Accountant
MASTER OF FINANCIAL MANAGEMENT
BACHELOR OF COMMERCE ^ University Rank # 3
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