Manager, Financial Control
United Arab Bank
Total years of experience :17 years, 11 Months
Current projects:
• Financial statements process for FY 2016
• IFRS 9 impact assessment and implementation support
• Business Intelligence Tool to automate Regulatory & MIS reporting
• Oracle Implementation for procurement, payments, fixed assets & payroll
Major Achievements at United Arab Bank:
➢ Quarterly recognition award for outstanding contribution in Process Category
➢ Awarded with promotion from Assistant Manager in 2015
➢ Process engineering & design excel templates / database for the new central bank returns
➢ New process setup for budget allocation to all business / support units and KPI tracking
➢ System modifications for unit wise tracking of KPIs related to operating expenses
➢ Basel III implementation support - Liquidity Coverage Ratio / Net Stable Funding Ratio
➢ Completing ownership of chart of accounts & enhancement of reconciliation framework
BAU responsibilities:
• Finalization of month end accounts, quarterly financial statements with notes to accounts as per IFRS reporting standards
• Regulatory reporting (BRF forms) to the Central Bank of UAE and reconciliation of all returns with the financial statements
• Analyzing the daily ratios related to profitability, stable funding, liquidity
• Monitoring the daily balance sheet, GL reconciliations and analyzing the major movements
• Supporting the business segments by providing daily dashboards of customer loans and deposits with details of branch wise, region wise, product wise balances
• Submission of banks liquidity profile and currency wise exposures for the ALCO pack
• Finalizing cost budget and tracking the actual costs against budget, analyzing the variances and initiating suitable cost control measures
• Budget allocation and finalizing cost related KPIs for all business / support functions, monitoring the KPIs and reporting the significant variances
• Monitoring all the manual debit entries to the profit & loss account on daily basis and identifying the irregular / exceptional items.
• Controlling the accounts payable function and ensure the end to end process operates within a robust risk / control framework.
• Maintaining the chart of accounts and managing opening / closing of GL accounts
• Liase with Business / support functions to ensure accuracy / validity of expenses, accruals & capitalisation of assets
• Help / manage data requests and queries from internal / external auditors and UAE central bank inspection team
Major Achievements at ICICI BANK:
➢ Significant role in upgrade of branch license to category 1 DIFC license
➢ Core banking setup and other systems development for license upgrade
➢ Pivotal role in the initial bonds issuance of USD 1 billion from DIFC branch
➢ Prepared the accounting manual & regulatory reporting manual of the branch
➢ Set up the new program in SAP for correct accounting of exchange gain/loss differences
Key responsibilities included:
•Responsible for finance & accounts function of UAE region - DIFC branch, Dubai Representative Office and Abu Dhabi Representative Office.
•Holding the “Authorized Individual” position of Finance Officer involving direct interaction with “The DFSA” during reviews and examinations.
•Branch Representation - member of branch ALCO, Compliance and Audit Committee, Senior Management Committee
•Monthly, quarterly & annual closing of accounts, finalization of trial balance, income statement and balance sheet of the branch.
•Regulatory Reporting to “The DFSA” on quarterly & annual basis - review and ensure reconciliations with the financials
•Preparing the daily cash flow projections and fortnightly ALM reports for treasury ALM desk.
•Basel III Ratios - Preparing the reports for Liquidity Coverage Ratio and Net Stable Funding Ratio as per guidelines of “The DFSA” for implementation of Basel III framework.
•MIS & Financial Analysis - Presenting the Financial Statements Analysis to the senior management and deputy CFO of the bank; Providing segment wise / team wise profitability, NII analysis, analysis of concentration risk, country wise / rating family wise exposure.
• Reconciliations - Checking all interest accruals, reconciliation of sub-system GL balances in murex, finacle & SAP, reconciliation of all nostro accounts, clearing and control accounts, reconciliation of fixed assets register with the physical verification report.
•Statutory and Internal Audit - Coordinating with statutory auditors and internal auditors, preparing responses to finance related queries, submission of data to HO for RBI audits.
•SOX Compliance - Preparation of SOX presentations and Risk Control Matrix, performing SOX audit, submitting SOX compliance certificate as per section 302 / 404 of Sarbanes Oxley Act.
•Budgeting and cost control - Preparing annual cost budget, Drawdown of monthly cost budgets, analyzing the budget variances and implementing the cost control initiatives.
•Payroll related activities of UAE Region - Coordination with HR function to finalize the monthly payroll and final settlements, provision of gratuity & leave encashment.
Responsible for accounting and settlement of inter oil transactions among oil companies for the entire northern india region, inventory reconciliation and submission of variation reports, handling service tax related matters, filing railway claims for losses/shortages during stock transfers.
Cleared both groups together in first attempt. Achieved 78% score in Advanced Accounting in CA FINAL.
Achieved 90 % score in Corporate Accounts and 89 % marks in Cost Accountancy during 2nd year, Excelled in Statistics with 100 % marks during 1st year. Submitted term paper on FINANCIAL ANALYSIS AND INTERPRETAION during 1st year internship training. Submitted project report on "Marketing Management and techniques" during 2nd year internship training.