Head Of Accounts
Awwal Corporate Restructuring Company Ltd
Total years of experience :11 years, 8 Months
Responsible as the Head of Accounts at Subsidiaries of Pak Brunei Investment company Ltd, Awwal Modaraba Management Limited (AMML), Awwal Modaraba (AM), First Prudential Modaraba (FPruM), and Awwal Corporate Restructuring Limited (ACRCL): Responsibilities incudes,
• Supervision of Routine Work: Oversee and supervise all routine work of the accounts and finance department of AMML, AM, FPruM, and ACRCL. Ensure adherence to accounting policies, procedures, and standards.
• Periodical and Annual Accounts: Prepare periodical and annual accounts of, AMML, AM, ACRCL and FPruM. Ensure accuracy, completeness, and timeliness of financial reporting.
• Monthly Reporting and Offsite Inspections: Supervise the monthly reporting process and offsite inspections of all Modarabas under AMML. Review and analyze financial reports, identifying trends, and providing insights to senior management.
• External Auditors: Act as the primary point of contact and liaison with external auditors during the annual audit and half-yearly review. Coordinate audit schedules, provide necessary documentation, and address queries or issues raised by auditors.
• Banking Relationships: Maintain relationships with banks to ensure the smooth operation of accounts, negotiate favorable profit rates, and facilitate dividend payments or other financial transactions. Coordinate with banks on banking facilities, including loans or credit lines.
• Financial Analysis and Planning: Conduct financial analysis and provide recommendations for improving financial performance and profitability. Assist in the development of financial plans, budgets, and forecasts for AMML, AM, FPruM, and ACRCL.
• Regulatory Compliance: Ensure compliance with applicable regulatory requirements, including those specific to the modaraba industry.
• Team Management: Lead, mentor, and manage the accounts and finance team, providing guidance, training, and performance evaluations. Foster a collaborative and high-performance work environment.
• Financial Management: Oversee all financial activities, including budgeting, financial planning, and forecasting. Ensure the accuracy and integrity of financial records, reports, and transactions.
• Accounting Operations: Supervise the day-to-day accounting operations, such as accounts payable, accounts receivable, general ledger, and payroll. Implement and maintain effective accounting systems and processes.
• Financial Reporting: Prepare and present financial statements, reports, and analysis to the management team and stakeholders. Ensure compliance with accounting principles, standards, and regulations.
• Internal Controls: Develop and enforce internal controls to safeguard assets, prevent fraud, and maintain the integrity of financial data. Conduct regular audits to identify and address any control deficiencies.
• Team Management: Lead and manage the accounting team, providing guidance, training, and performance evaluations. Foster a collaborative and high-performance work environment.
• Budgeting and Forecasting: Collaborate with
department heads and senior management to develop annual budgets and financial forecasts. Monitor and analyze budget performance, providing insights and recommendations.
• Cash Flow Management: Manage cash flow, including cash projections, monitoring cash balances, and optimizing cash utilization. Implement strategies to improve working capital management.
• Tax Compliance: Ensure compliance with tax laws and regulations, including the timely filing of tax returns, payments, and other related obligations. Stay updated on changes in tax legislation.
• Stakeholder Relations: Liaise with internal and external stakeholders, such as auditors, banks, regulatory authorities, and vendors. Build and maintain positive relationships to facilitate financial operations.
• Developed and implanted various processes to integrate Accounts dept and other depts.
• Establish and enforce proper accounting methods and policies.
• Manage and oversee the daily operations of the accounting department.
• Monitor and analyze accounting data and produce financial reports or statements.
• Establish and enforce proper accounting methods and policies.
• Coordinate and complete annual audits
• Provide recommendations
• Improve systems and procedures and initiate
corrective actions
• Assign projects and direct staff to ensure
compliance and accuracy
• Meet financial accounting objectives
• Establish and maintain fiscal files and records to document transactions
• Support KSA international tax advisory projects for host country clients or host country subsidiaries of home country clients. Demonstrate knowledge of the client's business.
• Support quality international tax ideas with timely and responsive services and work products that exceed client expectations.
• Support the work of client service team members.
• Support recommendations and implementation plans for clients
• Collecting, interpreting, and reviewing financial information
• Predicting future financial trends
• Reporting to management and stakeholders, and providing advice on how the company and future business decisions might be impacted
• Producing financial reports related to budgets, account payables, account receivables, expenses, etc.
• Developing long-term business plans based on these reports
• Reviewing, monitoring, and managing budgets
• Developing strategies that work to minimize financial risk
• Analyzing market trends and competitors
Alhoraibi Group is a diversified business group with interest in Retail, Real-Estate, Food and Beverages, Education and Financial Services. Mainly responsible for Zad Modern Company (Retail) and Al-Mataem International Co (Food and Beverages).
• Lead the modeling, planning, and execution of all financial processes.
• Participate in strategic planning and formulated long-term business plan budgets and periodic forecasting. and conducted the risk assessment
• Leads the budget processes, reviewed the performance, and delivered accurate and robust forecasts to the business deadlines
• Delivered effective management information on financial activity across the point of sales.
• Provided the Financial Reports, monthly and ad-hoc analysis, and Management reports to support the senior management through computer applications like 1ERP, Oracle Net Suite, Focus, Cube server Tally, and Excel
• Contributing and taking initiative in driving margin improvement across the business
• Ensured the effective performance management and the development of direct reports, and the effective organization of other departments within the financial and administrative activity on the contract.
• Leading the budget processes, reviewing the performance and spend with the senior management and delivering the accurate and robust forecasts to the business deadlines.
• To deliver effective management information on financial activity across the contracts.
• Providing the monthly and ad-hoc analysis and reports to support the Senior Management Team in their roles.
• Verify and report the irregularities to the management.
• Reviewing the monthly business, cost and value reports, producing the key schedules and the commentary.
• Assessing the financial stability/viability of potential clients and the subcontractors.
• Contributing and taking initiative in driving margin improvement across the business.
• Implement and ensure adequate internal controls are in place.
• To ensure the effective performance management and the development of direct reports, and the effective organization of everyone within the financial and administrative activity on the contract.
• Determines the cost of operations by establishing standard costs; collecting operational data.
• Identifies financial status by comparing and analyzing actual results with plans and forecasts.
• Provide data and guides cost analyze and data analysis process by establishing and enforcing policies and procedures; providing trends and forecasts; explaining processes and techniques; recommending actions.
• Reconciles transactions by comparing and correcting data.
• Leads the budget processes, reviewing the performance, provide financial Advice and spend with the senior management and delivering the accurate and robust forecasts to the business deadlines and to year end close.
• Providing the Financial Reports, monthly and ad-hoc analysis and Management reports to support the Senior Management through, Computer applications like ERP, Tally, and Ms. Excel.
• Responsible for internal and external audit
• Implemented internal controls, Introduced new system and policies for financial information like sales, expenses, inventory, Accounts Receivable, Accounts Payable and payments and Bank reconciliation
• Engagement planning based on understanding of the client’s business processes and assessment of business and audit risks, including close liaison with client's management;
• Coordinating with various professionals such as lawyers, actuaries, independent evaluators and information technology experts and decision-making in respect of critical reportable matters;
• Assisting clients in preparation of financial statements in accordance with the applicable financial reporting framework, Accounting practices and accounting Principles including compliance with International Financial Reporting Standards (IFRS), Local Corporate Laws & regulations and directives of regulatory authorities;
• Providing ongoing assurance and advisory services to clients regarding compliance with Corporate Governance Laws and regulatory requirements of Securities and Exchange Commission of Pakistan and State Bank of Pakistan;
• Evaluating internal control systems, analyze financial and risk management procedures, identifying weaknesses therein and prepare recommendations to management.
• Leading budgeting and forecasting process within company.
• Helping Chief Accountant in feasibility for new projects, pricing and contract reviews with customers.
• Identification of risks and opportunities in construction industry for business.
• Ensure integrity, accuracy and timeliness of all key month, year end, half year, forecasts, and budgets.
• Build and maintain relationships with key financial staff across client payment teams.
• Ensure reporting requirements are met to the appropriate deadlines.
• Managing the monthly cash review meetings with Operational teams, making sure cash equivalent to monthly sales is collected every month,
• Ensure that accurate funds flow are prepared, movements and variances understood and ensure consistency of cash forecasting.
• Ensure that all Governance and procedures are followed throughout the cash process and within company.
services in four main areas:
Assurance,
Tax,
Transactions
Advisory.
My responsibilities were to:
* Engagement planning based on understanding of the client’s business processes and assessment of
business and audit risks, including close liaison with client's management;
* Coordinating with various professionals such as lawyers, actuaries, independent valuators and
information technology experts and decision-making in respect of critical reportable matters;
* Assisting clients in preparation of financial statements in accordance with the applicable financial reporting framework including compliance with International Financial Reporting Standards (IFRS), Local Corporate Laws and directives of regulatory authorities;
* Providing ongoing assurance and advisory services to clients regarding compliance with Corporate
Governance Laws and regulatory requirements of Securities and Exchange Commission of Pakistan
and State Bank of Pakistan;
* Evaluating internal control systems and risk management procedures, identifying weaknesses therein
ACCA Qualified
ACCA Advanced Diploma in Accounting and Business
3.5 years MS program. Eligible For PhD
Major Subject were Economics Stat