Financial Controller
J Walter Thompson Pakistan
Total years of experience :26 years, 1 Months
Managing a team of 11 professionals in 2 different office; I am reporting directly to Director Finance and regional finance department and supervising actively the following:
• Solely responsible for:
o entire management, financial and statutory reporting to local and regional managements having offices in Singapore, New York & London. This includes preparation of financials along with various analysis for local, regional and global management.
o Solely responsible for working capital and treasury management and related reporting to regional management. This includes management of debtors and creditors followed by designing a mechanism to ensure liquidity requirements at all the time for seamless running of business operations
o Ensuring monthly and quarterly SOX compliance and related audits and reporting. This also includes designing of new control and evaluation of existing ones in line with SOX guidelines.
o Entire media financial operations which includes payments in line with PBA & APNS requirements, reconciliations, financial deals and audits.
o Budgeting and forecasting with related reporting and analysis for local and regional management.
• Well versed in Global Financial Applications - Hyperion Enterprise, Hyperion Planning Cartesis, & Adept
• Liaising with WPP Internal Audit Team. Liaising with Corporate Advisors/ Foreign Exchange Laws / Board of Investment and Investment Policies.
• Supervising:
o statutory and tax Audits
o WPP / JWT IT Compliances & Standards
Actively involved in business acquisitions, legal and financial due diligences, business continuity & DRP Plans
Supervising all financial, corporate, legal affairs, information technology, taxation, human resource and
administrative functions.
Involved in negotiation with television/cable channels in formulating various deals on overall company
basis and for specific clients. This also includes analyzing a specific project from financial feasibility point
of view.
Responsible to review and report to the CEO on monthly basis of variances between actual and projected
cash flows, budgets and financial statements.
Engaged in client and vendor negotiation in finalization of business terms and conditions;
Responsible to look after IT department and all IT related issues including application as well as
hardware issues.
Responsible for implementing various internal control systems and financial reporting procedures in the
finance, MIS and other departments. Also supervising the system analysis of various in-house
computerized program to overcome duplication of work within the organization
Converge Technologies (www.converget.com) is a leading provider of technology-based marketing solutions and a digital media agency, which has experienced remarkable growth since its inception in 2007. Converge provides a wide array of services which includes digital media integration, content development, integrated marketing, mobility, technology enablement and value added services. In October 2012, WPP (www.wpp.com) became the shareholder of Converge Technologies by acquiring 30% shareholding in the Company. WPP is listed on London Stock Exchange.
Select Highlights:
• Managed entire operations under financial analysis and reporting which include supervision of monthly/quarterly/annual closing and reporting, Cash flow & working capital management, Variance analysis, sensitivity analysis (NPV, IRR) & costing analysis while reporting to management, board of directors and shareholders
• Review the costing / pricing of the products/services, contract terms and conditions to ensure optimal net margins / profitability prior to submitting the final quotation to customers.
• Liaise as required with the banks and financial institutions for the financial requirements and with government institutions to ensure compliance with the legal / legislative aspects
• Set the policies and procedures across the organization
• Coordinate with revenue generation and support departments in compilation and analysis of data so required
• Handle Risk and ‘What-if’ analysis in line with industry trend and competitors performance
• Ensure compliance with local statutory laws, industry laws and other regulatory framework, this includes compliance with WPP guidelines applicable for associates
• Ensure compliance with guidelines and policies of industry regulator Pakistan Telecommunication Authority (www.pta.gov.pk)
• Ensure compliance of all secretarial and corporate requirements which includes adherence to corporate governance guidelines.
• Manage the entire legal portfolio of the company which includes close co-ordination with Company’s legal counsel in preparation of contracts and agreements and enforcement of the same.
• Review corporate agreements / contracts to ensure that they are in line with company policies and interests.
• Ensure compliance with all the requirements of corporate law authority of Pakistan applicable for private limited companies
• Implement Oracle Financials in the company and ensure its successful running since 2007 till date.
• Supervise operational IT function in the company since 2007
• Deal with the Income tax and sales tax matters of the company and coordinating with the tax consultants and lawyers for determining the best course of action for the company in the light of application tax laws and regulations.
• Support the management in managing growth of company. Work closely with all business units to ensure accurate and up to date revenue forecasting and client billing.
• Oversee HR and Administration department.
Company Profile: TeleCard (www.telecard.com.pk) is the most technological advanced Integrated Telecom Solution provider of the country. TeleCard has successfully launched WLL service (GO CDMA) based on CDMA2000 1 X technology that provides the unique combination of voice and data/internet for the first time in Pakistan.
Select Highlights:
• Provided the financial and management accounting support to the WLL (Wireless Local Loop) Business Unit & LDI (long Distance International) Business Unit in full liaison with the relevant local and global best practices.
• Dealt with the Income tax and sales tax matters of the company and coordinated with the tax consultants and lawyers for determining the best course of action for the company in the light of application tax laws and regulations.
• Coordinated with the Internal Audit Department of the company to ensure that all the relevant controls in the business are adhered to and identifying areas where improvements are required.
• Liaised with the Management at the Hub level to improve and comply with the risk mitigation plans.
• Ensured compliance of the Internal Control Guidelines & Standards.
• Maintained a close coordination with Sales Department and assist them in planning the sales forecast and ordering the consignment.
• Closely coordinated with Sale Distributors to ensure the
deployment of secondary sales.
• Prepared Annual Budgets, forecasting and various feasibilities. Involved in the implementation of ERP.
Company Profile: The Company (www.philips.com.pk) is a subsidiary of Koninklijke Philips Electronics, N.V., The Netherlands (“the Parent Company”). Headquartered in the Netherlands, Philips employs approximately 116, 000 employees in more than 60 countries worldwide. The company is a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products for personal well-being and pleasure.
Select Highlights:
• Provided the financial and management accounting support to the Lighting Division in full liaison with the relevant regional and global best practices.
• Handled the Income tax and sales tax matters of the company and coordinated with the tax consultants and lawyers.
• Liaised with the Internal Audit Department of the company to ensure that all the relevant controls in the business are adhered to and identifying areas where improvements are required.
• Managed Treasury and Corporate section of the company, responsibility includes adherence of all the statutory requirements and International Financial Reporting Standards (IFRS), preparation and review of the quarterly, half year and annual financial statements of the company.
• Maintained a close coordination with the Supply Chain Management and Sales Department and assisted them in planning the sales forecast and ordering the consignment.
• Maintained the portfolio of IT coordinator and implemented various IT plans related to JD Edwards, reporting directly to Chief IT Officer (CIO) of Asia Pacific Region (APR).
• Oversaw preparation of Annual Operating Plan, forecasting and feasibility for factory & commercial businesses.
Company Profile: Pak Arab Refinery Ltd (Parco) (www.parco.com.pk) is a Joint Venture between Government of Pakistan and the Emirate of Abu Dhabi, incorporated as a public limited company in 1974. 60% of the shareholding is by the Government of Pakistan and 40% by the Emirate of Abu Dhabi through its Abu Dhabi Petroleum Investment Company L.L.C. (ADPI), a subsidiary group of International Petroleum Investment Company (IPIC).PARCO's major business activities are oil refining, transportation, storage and marketing.
Select Highlights:
• Provided the financial and management accounting support to the Company in full liaison with the relevant local and global best practices.
• Dealt with the Income tax and sales tax matters of the company.
• Managed Treasury and Corporate section of the company, responsibility included adherence of all the statutory requirements and International Financial Reporting Standards (IFRS), preparation and review of the quarterly, half year and annual financial statements of the company.
• Reported to Ministry of Petroleum & Natural Resources and shareholders of the Company.
• Prepared the project feasibility of White Oil Pipeline Project (WOPP) worth US$ 480 million & Mid-Country Refinery Project (MCRP) worth US$ 1 billion.
• Actively involved in stages of Planning, Training, Business Mapping & New System Design, and Testing for Oracle Financials 11i implementation at PARCO. Project also involved interfacing of Oracle Financials with other non-accounting applications of Sales, Purchases, and Maintenance.
• Analyzed and scrutinized records for product transportation on behalf of customer for last twenty years, review of transportation contracts for providing objective assessment of the genuineness of losses claim by Oil Marketing Companies (OMCs).
• Led a comprehensive review of the Treasury functions at PARCO, involving scrutiny of existing transactions and systems for Working Capital Finance (Running Finance), Cash forecasting, Bank reconciliation, L/C establishment and settlement, Forex and Interest rate risks, Investments and deposits, debt structure.
• Verified Production Losses reported by Refinery for several quarters, review of procedure for identification, calculation and reporting of Production Losses.
• Worked with representative from Internal Audit to report authentic Production Losses for the specified period, different by millions from the reported figures.
• Reviewed the system for import of crude oil from Middle East suppliers - ADNOC and ARAMCO. The import system constituted involvement of Government Ministries, PARCO Finance and Commercial departments, Banks, State Bank, and Suppliers.
Select Highlights:
• Led large teams through planning and execution of statutory audits, validation of financial reporting packages of multinational concerns in the light of International Accounting Standards (IAS).
• Handled engagement management, client relationships, coordination with professionals of various fields like legal, actuarial and IT experts, decision-making for resolution of critical reportable matters and development and training of audit staff.
• Developed a comprehensive understanding of the competitive and regulatory environments of diversified industries and the accounting and internal control systems implemented at various organizations.
• Coordinated with regular quality audits for various operations, ensuring a high-quality customer experience, major assignments accomplished of Fuel and energy, Chemical, Pharmaceutical, Financial Institutions, Shipping and other industries.
Chartered Accountant (CA Finalist – Module E passed
Secured overall 3rd position in Karachi
