Finance Manager
Nestle Pakistan
Total years of experience :16 years, 6 Months
Key accomplishments included:
Saved annual expense of Pak Rupees 7.5 million which was previously paid as sales tax on utility bills by obtaining the Sales Tax Certificate as per the Sales Tax Law.
Managed the stocks by reducing the stock days from 119 days to 100 resulting in saving of cost of Rs 6.4 million
Reduced monthly closing of financial results from 25 to 15 days.
Implemented the annual budget. Orchestrated budget process with all departments and senior management concluding in the presentation of a final budget approved by the CEO and Board of Directors. Implemented monthly flash report showing the summarized results of the operations. Implemented forecasting of financial results versus the budget and annual
Achieved balance sheet credibility through establishing accounting policies and procedures.
Streamlining local and international purchases establishing supply chains, handling legal procedures related to shipping and clearing of imported goods.
Directed the implementation of short- and long-term procurement/logistics strategies, policies/ practices, effectively communicating the same to the team members to ensure achievement of strategic objectives.
Analysed critical scenarios and establishing standardized processes for efficient trouble-shooting of logistical issues, while striking yield oriented balance for the organization.
Evaluating suppliers based on key deliverables (pricing and service capabilities) conforming to turnaround time, quality and cost. Renewing/ terminating contracts of suppliers in view of past performance.
Established and maintained stable/ reliable business connections with vendors/suppliers, to determine progress of procurement activities.
Submitted periodical reports to management, highlighting possible anomalies, underlying causes and recommendations to have better controls.
Responsible to provide Financial and non-financial information to the Board of Directors
Preparing and publishing Companies Financials, Cash position, Order entry Backlog reports to the Board of Directors
Coordinating and Directing the preparation of Annual Plan, budgets and forecast and variance reports
Develop and Document business processes and accounting policies to maintain and strengthen internal control
Ensure quality control over financials transactions and financial reporting
Manage and comply with government reporting and taxation requirement
Evaluate the effectiveness and accuracy of ERP and requirements of modernization
Responsible to train and educate the staff with the latest accounting practices .
Internal Audit Manager
Development of Audit Plan, Technical Manual and Audit Charter including audit programs, checklists, questionnaires.
Development of Risk Based Audit Plan for Projects and other supporting divisions and departments.
Overall responsible for group stock inventory.
Review and recommendation on company policies and procedures.
Played affective part in ERP implementation.
Fully responsible and owner of Oracle SIM ( Store Inventory Module )
Designed and delivered various stock related trainings to retail i.e. Stock management, Cash Management,
Identify Risk level and suggest strategies to minimize the risk.
Scheduling and assigning work to meet completion deadlines, and estimating resource needs. Managing team of 9 IA staff. On hands training to IA staff through continuous monitoring and supervision of field works.
Review and evaluation of working papers of completed assignments in conformity with IIA standards to provide sufficient basis for reporting.
Review and preparation of IA reports in line IIA standards.
Expertise in making evaluations, assessments, development and implementation of operational and financial Policies and procedures.
Presents audit findings and recommendations on the basis of leading best practices and standard operating procedures. Follow up of agreed action plan for rectifications and improvements in line with IA recommendations.
Preparing the Annual Financial Budget for the IAD and monitoring subsequent expenditures.
Convening and attending all the meetings with management, preparing minutes of meeting and their circulation to the members, making presentations for the progress of IA audit plan and highlighting high business risk areas.
Coordination meetings with External Auditors for proper audit coverage.
Coordination with IT, Retail team, Merchandising group & Supply Chain on the roll out of Cyclic Count & Annual Physical stock count.
Overall responsible for arranging and reporting for annual physical stock count.
Performing and supervising the operational and financial audit assignments.
Added value to the business performance through reduced revenue leakages, cost avoidance and savings from core operational areas.
Responsible for disposal of company assets as per IIA standards.
Independent assessment on the effectiveness of Internal Control Systems.
Advice senior management on good controls to Safeguard Company assets against losses.
Perform special reviews/projects as requested by owners.
Investigate and resolve potential fraud or policy abuses as discovered including Policy reviews