Group Finance Manager
J and F holdings LLC and Ithmar Capital partners limited
Total years of experience :12 years, 0 Months
J & F Holdings LLC is the family wealth office of a prominent, HNW UAE family which includes diversified subsidiaries in UAE, UK and Cayman Islands, holding a broad range of assets in multiple sectors.
The key operating company, Ithmar group has
1.) Ithmar Capital is a sister company and fund manager of Ithmar Fund 2 a USD 250 M private equity fund,
2.) Ithmar Capital Partners limited a DIFC registered category 3c entity.
3.) And six Other diversified business interest includes real estate, construction, engineering, health care, Oil & Gas etc
Financing facilities:
Initiate and obtain the most economical banking facilities for the group
External Stakeholder relationship management:
Effectively manage and maintain relationship with Limited Partners, Banks,
Board of directors of subsidiaries, fund administrators and external auditors
Feasibility study:
Review, advise and approve feasibility studies for subsidiaries.
Controls:
Establish solid control system and effective structures for new business entities, formulating policies and remapping of process to ensure a consistent approach across all entities.
Budget:
Review and approve budgets for subsidiaries, prepare variance reports and advice on steps to reduce adverse variance.
Financial Solutions:
Provide Financial solutions through Financial planning and analysis
M&A:
Actively participated in the due diligence process of numerous potential acquisitions considered by the company and, made strategic and financial analysis for quick decision making
Process structure:
Reorganized and improved the processes efficiency. Setup routine processes as shared services to service all eight companies in group
Strategic financial Management:
Advise the BOD and Group CEO on funding and investment allocation strategy for various businesses across the group. Identify investment priorities.
Working Capital Management:
Oversee the financial operations and cash flow as well as cost control while securing working capital from banks, shareholders. Managing supplier
payments to get longer credit periods.
PIB Returns:
Ensure that all PIB returns are submitted to DFSA before deadline for DIFC entity along with tight monitoring of EBCM and capital resource test.
NAV Statements:
Review and Approve NAV statements (net assets value) for each individual investor in different private equity funds.
Assets Valuation:
prepare asset valuation using internal and external resources to be reported to investors and authorities.
Regulatory compliance:
I ensure that all the companies in the group are in compliance of all regulatory requirements of the jurisdiction of their registration and operations.
Audit:
Approve financial statements for all entities and the funds to be audited by audit firms, both local and international.
Fund Expenses:
Review and approve fund expenses and income in line with LPA (limited partners agreement) for each investor and fund.
Fund reports:
write periodic fund activities and performance reports for the management and limited partners for each fund under management.
Fund accounts:
Review and approve accurate yields, distributions and fund accounts. Prepare specific reports requested by limited partners.
Financial institutions:
Manage relationship with local and international financial institutions including banks and brokers, point of contact for them for all business matter.
A diversified holding company of education, consultancy and work force supply companies.
Subsidiaries are start-up companies including Themar academy for youth development, Altaaat Leadership development FZ LLC for executive coaching, Centre for leadership Excellence management consultancy LLC and Tazweed Manpower Company.
Partnership with CEO:
partnered with CEO to bring serious and lasting improvements in bottom line through process reengineering, supply chain improvements, capacity optimization and a highly disciplined cost control process, operating profits improved from negative 5% to positive 15% in record of 12 months period.
Performance Enhancement:
Awarded the Chairman’s Choice Award for the strategic input in increasing shareholders’ wealth. Monitor financial performance by measuring and analysing results, initiating corrective actions Introduce incentive schemes to spur staff performance that resulted in 20% increase in sales.
Risk Management:
Reduced bad debt risk to 0% in Themar group by implementing strict contractual control procedures & reduced risk of deficit in budget compare to project by implementing effective cost control
Reporting Enhancement:
Created structure and discipline in the monthly closing and reporting process. Complete group closing in 2 working days
Key customer presentations:
Visited key customers (GASCO & Emirates foundation) along with sales personnel and presented the value proposition as new supplier, both companies became key clients.
Business Strategies:
Co-define the short term and long-term strategies and roll out best business models in line with respective organizations’ needs while ensure smooth change management. Designed and successfully Implemented Strategic Business Plans and incorporated work plans with objectives & KPIs to support performance management.
Controls:
Establish solid control system and effective structures for new business entities while formulate policies as well as processes mapping.
Financial Solutions:
Provide Financial solutions through Financial planning and analysis
M&A:
Actively participated in the due diligence process of various potential acquisitions considered by the company and made strategic and financial analysis for quick decision making
Organizational Setup:
Streamlined department processes and procedures to determine optimum staffing levels and instituted metrics to document cost savings.
Process structure:
Reorganized and improved the processes efficiency. Setup routine processes as shared services to service all companies in group
Strategic financial Management:
Advise the BOD and Group CEO on funding and investment allocation strategy for various businesses in the group. Identify investment priorities.
Value Chain Management:
Analyse and understand pain points and key drivers while provide financial foresights in decision making and risk taking to further grow the company Initiated a plan to reduce 30% cost each year by Working closely with leaders in improving the entire value chain from vendor to customers to increase efficiency while reducing costs. Introduce a 3-quote system to obtain the best value for money
Working Capital Management:
Oversee the financial operations and cash flow as well as cost control while secure working capital from banks, shareholders and by managing supplier payments to get longer credit periods.
Training and development:
Conduct training sessions of "finance for non-finance professionals" for colleagues
Part of Saudi Printing and packaging Co. (a public listed company in Saudi Arabia). SPPC comprises of Packaging, Printing, Publishing and related services.
ENPI Group is the leading and technically most advanced manufacturer and supplier of Plastic packaging products in the Middle East, and is of one of the largest manufacturer and distributer in the GCC Specialised in Packaging Solutions. ENPI group is operational in UAE, KSA, and expanding within GCC, MENA, Africa, Europe and other parts of the world.
Growth Strategies:
50% increase in ENPI group for Flexi printing Unit. Keep a tight control on Working Capital through reporting to sales team for collections, coordinating with purchase team to order on EOQ (Economic Order Quantity) coordinating production team for effective period productions etc.
P&L Improvement:
Performed cost analysis and performance parameters monitoring to identify improvement areas in maximizing savings opportunities. For example worked with Group Human Resource department to reduce bank charges to 90% for salary transfer with MOL, which accounted as saving of AED 200K annually.
Revenue Enhancement:
Generated monthly auxiliary income of AED200, 000 while eliminated unaccounted scrap sale via close monitoring of scrap movement and enhanced accountability among employees.
Sales Strategy:
Spearheaded the development of an innovative system to generate daily receipt reports for the sales department in smoothing the process resulting in an increased of collection by 25%
Manufacturing integration:
Executed a project to utilized existing facilities for increased storage and production for saving of 10% to bottom line.
ERP Implementation:
Proactively worked continuously for 48 hours in conducting due diligence audit and executing new accounting software migration simultaneously, duly appreciated by the whole group.
Audits:
Facilitated internal and external audit of accounts while released timely reports and information to the auditors in facilitating the audit process. Go beyond normal working hours in completing and delivering the Trial Balance within the same day of the request in achieving a clear audit result.
Cost Reduction:
Performed cost analysis and performance parameters monitoring to identify improvement areas.
Financial Analyses & Reporting Enhancement:
Compiled and reviewed monthly/annual financial statements encompassing P&L, balance sheet, bank reconciliation and associated financial statements, monthly closing of accounts, AP/AR summaries, cash flow projections and financial management reports to ensure all deadlines are met & information is presented in accordance with GAAP
Margin Optimization:
Successfully conceived and developed a formula in calculating production ink usage enabling accurate cost benefit analysis and more insights during margins negotiations with customers.
MIS Reporting:
Developed reports, projections, and presentations of expenses and revenue while provided strategic guidance to the management in analysing financial reports of various projects.
Group of accountants to serve clients in east London for financially supporting studies in UK
*Tax Implementations:
Reviewed and examined accounts and financial records while generated income tax returns and profession tax like VAT in line with all statutory regulations.
*Investment Strategies:
Worked closely with clients in identifying investment objectives via a comprehensive/ customized business planning process.
*Book Keeping:
Performed general accounting functions including general ledger system administration, journal entries and month-end closing.
*Relation Building:
Established and grew strong working relationships with clients via excellent service to maximize cross selling and referral opportunities.
*Turnkey Financial Solutions:
Assessed clients’ feedback prior to advising and executing business strategies to expand sales and achieve set objectives. Offer strategic insights and inputs to the clients to develop and execute turnkey financial solutions.
*Entrepreneurship:
Led the sub-contractors and motivated the team in achieving organizational objectives.
Highlights:
• Increased client capacity by over 35%-50% after implementing procedures that prevent duplication.
• Calculated and proposed an early payment option for receivables which was utilized by approx 85% customers.
Key Responsibilities:
• Provided all levels of management with useful and accurate financial information on a timely basis via verbal communication and documentation.
• Managed cost accounting, adherence to internal controls and policies with an emphasis on their importance, awareness and applications.
• Offered strategic guidance in preparing and analyzing annual reports of various projects and provide valuable inputs to the management.
• Coordinated assign reports as required related assigned accounts and related activities. Proactively identified and resolved all issues related to journal ledger and balance sheet accounts.
• Analyzed credit policy feasibility in view of profits/revenue generated. Initiated recovery process through agencies and banks. Terminated credit limits in view of credit history.
• Reviewed all monthly/annual financial statements including P&L, Balance sheet and associated financial statements, monthly closing of accounts, cash flow projections, bank reconciliation statements, other cost-benefit analysis and financial management reports.
• Planned, organized, assigned, and evaluated all accounting procedures and policies to ensure transactions are efficient/ effective, accounting is accurate and complete.
• Established audit plans, objectives and scope of work in alignment with organizational goals, undertaking responsibility for the overall execution of projects through team management and final report delivery.
ACCA member since August 2015.
: Other certificates and Training : • Jun 07’-Dec 07’: Audit Trainee, Imran Saeed and Chartered Accountants. • ACCA P2 Corporate Reporting 72% • Mathematics, metric 100% marks • Computer metrics 94% marks • 2005-2006: CAT (Certified Accounting Technician) ACCA UKCFE (Center of Financial Excellence) Lahore, Pakistan. • 2009-2009: CISI (Association of Certified chartered accountant) BPP Professional training in London, UK • 2009-2011: ACCA (Association of Certified chartered accountant), Kaplan financial in London, UK
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