Assistant Manager - Finance, Treasury/Trade Finance/Trade Operations
Al Ghurair Foods LLC /Al Ghurair Resources LLC
Total years of experience :25 years, 9 Months
*Joined Al Gurair Foods LLC as Assistant Manager - Finance and had been given responsibilities for treasury, Trade Finance/Trade Operations.
•Serving Al Ghurair Foods LLC and Al Ghurair Resources LLC due to work knowledge, expertise & skills to handle Import and Back to Back business along with trade department, banking, dealing with buyers and sellers.
•Negotiation of terms & conditions and pricing with banks in Al Ghurair Foods LLC..
•Negotiation of loan with bank for project with acceptable terms & conditions and pricing to management.
•Monitoring and managing fund position in bank accounts.
•Preparation of fund flow statement on daily & monthly basis.
•Scrutiny, Comparison and comments on offer letters for banking facilities.
•Supervising & handling back to back LCs.
•Handling letter of credits.
•Supervising and handling import & export documents of back to back LCs.
•Liaison with suppliers and buyers for banking & documents related matters.
•Supervision of Purchase Contracts Data input in Oracle.
•Supervision to cover Insurance for all shipments.
*Dealing with foreign sellers and buyers for wheat, barley and corn shipments.
*Finding solutions related to imports or back to back LCs to avoid problems in documentation.
Handled Export Department being Head of Exports in Centralized Operations Department with all products for Gulf Region i.e. all branches in UAE, Bahrain & Oman.
Responsibilities included but not limited to:
Occasionally served as back up of head of trade department from Sep.2010 till resignation.
•Checking, Negotiation, Lodgment and retirement of export documents.
•Discounting of Export Documents i.e. LAFB, CAD, FBP, EBD.
•Dealing back to back L/C documents & transferable L/C's (both import & export).
•Inward Bills for Collection & TR to help out concerned staff.
•Scrutiny of import documents and handling related matters.
•Imports including TR, PAD, Force PAD, Reporting to Treasury, Sight & Usance documents and shipping guarantees.
•Supervision of LBD and export L/C advising.
•To ensure compliance with policy guidelines, procedures from credit facilities prior to execute transactions.
•Adding Confirmation by issuing letters to Customers and messages to applicant banks plus calculation of charges & claim.
•Preparation of Availment/Offering for Discounting & SFCP.
•Correspondence with NY-office & other HBL regions for inquiries.
•Monthly balancing and reconciliation of Export related accounts.
•Meetings with walk-in customers for export related matters & corporate customers to guide them in handling letter of credits, preparation of documents & other advices on their request.
•MIS for export business and bank exposure in trade for Head Office.
•Liaison with treasury, investment banking/Financial Institution-UAE to help and guide them for technical matters with OFAC.
•Co-ordination with compliance department for OFAC (office of foreign asset control) related matters.
•Handling customers of Investment Banking Unit for their trade related matters, confirmation, negotiation and discounting of export documents.
•Negotiation for pricing with customers for adding confirmation and discounting of documents by keeping bank risk & availability of lines with the banks for exposure by co-ordination with FI Gulf & FI Pakistan.
My core responsibilities were as follows :
(i) Scrutiny, Comparison & Comments on Agreements and offer letters for Banking Facilities (ii) Monitoring Banking Transactions (iii) Letter of credits & related matters
(iv) Different accounting transactions (v) Correspondence with banks
(vi) Co-ordination with banks for banking matters (vii) Negotiation with Banks for banking facilities
ACHIEVEMENTS
i-Organized Banking system for the Group ii-Strengthen relationship with Banks
iii-Negotiation of terms & conditions and best pricing with Banks.
iv-After checking offer letter found 2 (m) dirhams being margin held by bank which got reversed after my finding. v-Started Relationship with new banks.
Being Assistant Manager Finance few of my responsibilities were as follows:
Handling 56 accounts in 18 foreign & local consortium banks with good relationship with senior management of banks and get maximum results with relationship with them.
Took decision and handle to Vacate pledge from banks against old loans and also arrange to vacate charge given to certain banks which were no more part of company's consortium of bank.
Review & preparation of comparison with comments on finance facilities agreements and offer letters.
Negotiated loan for Project financing after pledge at low interest rate.
Negotiations with the banks for the facilities, rate of profit on saving accounts, rate of mark-up on running finance facility, L/C opening commission for first & subsequent quarters offered by the banks, terms & Conditions of finance agreements of banks before signing the documents.
Forward Booking of Japanese Yen on best possible rates in parity with USD.
Monitor & control funds in banks in a manner to reduce unnecessary cost by giving mark-up on running finance & avoiding stale funds in any bank other than main bank.
Handling Letter of Credits in all banks and all L/C related matters.
Export documentation & related bank matters.
Monthly reports for Management & for Toyota-Japan giving details of shipment schedule with bank details for each shipment in break-up for CKD kits.
Preparation of weekly statement for management in Pakistan & Japan and also to control shipments/consignments having forward bookings and spot payments to keep in view the cost of CKD kit at that time & to avoid non utilization of forward booking because utilization of forward booking was solely based on my decisions in banks and IMC.
Liaison with marketing department for the imports of CBU
Provide guidance to marketing department and representative of Toyota Japan for the direct sales to government, import of cars for R&D purpose & also provide assistance to finance departments of sister concerns of Habib Group for banking matters.
Calculation of deleted parts with the liaison with Toyota Japan & Product
Nov 1997 - Dec 1997 American Express Bank,Karachi , Pakistan Internship Internship in Client Service and Remittance Department. Worked independently in Remittance Department . Jun 1997 - Sep 1997 Societe Generale, Karachi , Pakistan Internship Internship in Trade Finance Department and Customer Service Department. Worked independently in Trade Department both export & import with the guidance of seniors. . EDUCATION Sep 2009 (Membership No.M-377) Institute of Certified Public Accountants of Pakistan, Pakistan (ACPA) . Dec 2005 American Global International University,Florida , United States of America MBA, Banking & Finance, GPA 3.45 . Mar 1998 The International University, Missouri , United States of America MBA – Finance , GPA 3.5 .
