Group Finance Manager
Zayani Group
Total years of experience :23 years, 6 Months
Zayani Group started in the 80’s , are pioneers in the field of computers, servers and related support services in the Middle east . The Company serves both Government and Prestigious private clients.
key Responsibilities:
Role:
•Directing the Entire Accounts function at Group Level of a large group of Diversified companies, having a turnover of Bahraini Dinar 100 Million, which are into Construction, Real estate, Property rental & Management, Blocks manufacturing, Rental of Scaffolding & Foam work Sweet water Plant & supply and Investment management with an accounts team size of 24 members.
•Preparation of Monthly MIS of the Group including consolidation.
•Laisoning with the Banks for Loans and other bank facilities including periodic progress reports.
•Cash Flow Estimation on a monthly Basis.
•Preparation and filing of Annual returns with Ministry.
•Implementing and streamlining the VAT accounting system in the company .
•Variance Analysis against the Group Budget including Hire Vs Own Analysis .
•Project costing and Activity Based Analysis on a Quarterly Basis to estimate ECAC.
•Proving data to tendering department for Effective Quoting of upcoming Projects.
•Overseeing the preparation of payroll and intercompany transactions.
•Approval of Subcontract, Supplier and other Payment Vouchers.
•Meetings with various departmental and Line managers on Performance of concerned projects and departments.
•Preparation of Budget of the Group and presenting to the Board for Approval.
•Weekly reports on the Bank position, Investments in properties inside and outside Bahrain and shares held.
•Arranging for Bank Guarantees and Letter of Credits.
•Approval of Local Purchase orders after comparing with Budget.
•Import Purchase Costing .
•Utilities Budget preparation and monthly Analysis.
•Raising Inter company invoices on Various Manpower and material costs.
•Streamlining the ERP system and correcting various shortfalls.
•Laisoning with the External Auditors and Conducting audit of the group which includes 15 Companies.
•Involved in legal groundwork to make the company a public listed entity.
•CR renewal and other legal matters of the group including new company formation.
•Taking part in Board Meetings involving strategic decisions.
•Preparation of Various Cost control reports on Material, Labour and subcontract costs and having periodic meeting with Department heads to effect strict tracking and control.
•Approving Various LMRA, GOSI and Visa payments.
•Periodic Site Visits to improve Coordination with site managers and track progress of Sites.
•Formulation and follow up on Departmental objectives.
•Periodic Stock Audit and inventory reconciliation including action on Discrepancies.
•Applying and Sanction of Tamkeen subsidies .
•Drafting Board Resolutions and minutes.
•Coordinating with Internal Auditor to find out Internal Control flaws and implementing better Controls
Role:
•Creating and sustaining a dynamic environment that fosters the development opportunities and motivates the high performance amongst the team members
•Managing day-to-day cash/Bank and accounting functions in co-ordination with internal/ external departments for smooth financial operations
•Directing the internal control systems with a view to highlight shortcomings & implementing recommendations made by Internal Auditors
•Ensuring effective improvement in the operational systems, processes and policies in support of organization’s mission, specifically supported better management reporting and information flow and management
•Monitoring development of strategic financial plans and analysing financial statements with overall accountability of accounting, financial and commercial management complying to IFRS standards
•Systematizing accounting procedure involving finalization of balance sheet and compliance with internal/ external audit, ensure error proof accounting as per statutory accounting
•Contributing towards designing and implementing audit program to test the efficiency of all aspects of accounting controls and devising effective control and operating systems
•Collaborating with various banks for cash flow & working capital management while efficiently managing functions including Capex, supplier selection and bank dealings especially raising of loans
•Installing and updating a perpetual system of costing and cost appraisal as an aid to the management for critical price fixation and revisions
•Facilitating generation of various MIS reports with respect to fund management, cash flow, monthly budget variance analysis, overall activities, and so on for updating the management & global consolidation
•Preparation and Filing of Tax returns and Annual reports on a timely Basis
Chemicals Production)
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courses: Certified Management Accountant from USA •
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Merit List).