Head Of Finance Department
Abu Dhabi Accountability Authority
Total years of experience :22 years, 10 Months
Effectively managing financial and operational reporting and filing of annual statutory accounts in accordance with local regulations.
Supervising various audits such as financial audits, internal control audits and internal audits.
Responsible on various sections such as General Ledger, Accounts Payable, Accounts Receivables, Treasury, Payroll, Fixed Assets and ensure monthly closing of accounts.
Oversee the preparation of budgets by coordinating with individual divisions/ departments and consolidate them into one overall corporate budget.
Compare historical results against budgets and forecasts and accordingly perform variance analysis to identify differences in performance and determine areas of improvement.
Allocating resources, managing cash flows, predict future cash flow requirements and make arrangements as necessary.
Experience in implementation of new standards from IPSAS and IFRS in financial reporting.
Own and drive the development of accounting related finance policies, procedures and internal controls for the business.
Monitor internal control activities of financial workflow. Supporting process improvement, leading to continuous improvement in accuracy, timeliness and automation of financial information.
Handled project management for the Authority
Responsible for entity VAT compliance and monthly and quarterly TAX return submission.
Monitor fixed assets addition, disposal of assets as per management approval and ensure fixed asset register is updated.
Monitor treasury activities and maintain close interaction with banks.
Major achievements in ADAA
Successfully handled migration and implementation exercise to Abu Dhabi Government ERP Oracle Financials during 2013 and migration to SAP in 2022
Successfully handled ICoFR audit (Internal Control over Financial Reporting) since 2017 and became the first government entity at GCC level.
Working in ERP Oracle Environment
•Responsible for all financial, accounting, and budgeting activities
•Preparation of budgets based on overall plans of the organization and perform variance analysis with actual.
•Liaising and negotiating with banks for raising fund and non-fund based facilities to meet the working capital and other financial requirements.
• Review and maintain financial systems including revenue, operating expense, capital budget, and cash flow plans for all departments.
•Establish, review and maintain appropriate internal control safeguards.
•Compare the cost estimation of jobs with its actual costs.
•Review the status of work-in-progress and finished goods in production and its valuation for periodic reporting.
•Review the materials consumption pattern and ageing of stock items.
•Overall responsibility for Accounts Receivables, maintaining low ageing of dues and minimizing risks to the organization
•Overall responsibility for ensuring on-time payments to suppliers and service providers to meet contractual obligations.
•Responsible for internal and external auditing of company results, re-porting and processes. .
•Supervise HR activities of the organization.
Job Profile
Managed three departments such as Finance, Risk Management and Clearing & Settlement.
•Preparation of financial statements, financial reports, special analyses, Tax Planning and information reports
•Negotiation with banks for arranging Bank Guarantees, Discounting facilities and for other relevant documents
•Supervise treasury management.
•Evaluation of branches financial performances.
•Monitoring Funds Flows from branches through Central Bank Account to the Exchange Clearing House and vice versa. Controlled about 125 bank accounts at various branches from Head Office in order to manage the fund flow.
•Monitor the risk management activities at the exchange level as well as client level by timely intervening the margin collection, exposure limit reduction, position cutting, etc.
•Various tax related compliances such as Income Tax, Service Tax, etc
•Monthly and yearly financial reporting.
•Monitoring asset Management of the companies loan portfolio
•Monitoring the branch level financial activities and its performance evaluation in terms of mobilization of deposits and disbursement of loans.
•Evaluating the credit worthiness of each business proposal for providing loans
•Monitoring Vehicle Loan on Hire Purchase and its collection.
•Treasury and working capital management.
•Cost Analysis for various portfolios.
•Supervision of Debtors and follow up.
•Monitoring Funds Management of the Exchange & its Subsidiary.
•Monitoring Funds Position of operations and optimizing use of Funds towards Pay-in and Pay-out with National Stock Exchange & to the Dealers and Traders.
•Managing and controlling Fund pay-in and pay-out of the exchange.
•Day to day accounting and monthly closing of accounts.
•Monitoring margin collection and its release from time to time.
•Part of system analysis for developing Clearing & Settlement Accounting software of the exchange
•Monitoring & Control of Exchange Guarantee Fund and its utilization.
•Constantly reviewing the Balance Sheet & Operational results from time to time on various listed scrips and provide market announcements.
Achievements
•Independently handled the Clearing & Settlement Accounting activities
•Handling audit and accounts activities of various corporate clients
•Tax planning and timely reporting
I joined for CPA in mid of 2009 and could finish the course within a year time frame. I could finish most of the subjects in my first attempt.
Achievements in CMA: •National Prize winner for securing the highest total marks (98%) in “Cost and Management Accounting”. •Secured 94% marks in “Advanced Financial Management”.
I have availed the Equivalency Certificate from UAE Ministry of Higher Education for M.Com and B.Com