Finance Supervisor
OSN
مجموع سنوات الخبرة :17 years, 10 أشهر
Managing of Fixed Assets in MENA regions, through ensuring approval for all capital expenditure as well as disposals of fixed assets is obtained in line with company policies and delegation of authority documents
Actioning of additions and disposals of all fixed assets on a monthly basis on the Great Plains Fixed Assets module, as well as ensuring entries is recorded correctly in General Ledger.
Raising and monitoring through variance analysis additional monthly accruals for various departments in line with company policies, as well as in line with contracts, service level agreements, etc. Verifying all required costs are either processed or accrued for through liasing with accounts payable department and Fraction Spend Management System.
Reconciling key balance sheet accounts resolving outstanding queries before financial closing deadline
Ensuring all inter company shipment transactions is recorded correctly by Accounts Payable and Accounts Receivable departments, all assets and inventory items are retired/written off in shipping entity and received in receiving entity. Ensuring all transactions are in line with Freezone agreements and inter company agreements.
Ensuring all entries between shipping and receiving entities are contra’ed off in consolidation entity.
Monthly analysis of Fixed Assets movement for Cashflow statement reporting
Monthly analysis of PPE movement for Shareholders meeting
Monthly preparation of management packs for various key departments and providing comments on variances of actual vs budgeted spent.
Monthly reconciliation of balance sheet accounts and resolving outstanding queries.
Monthly reconciliation of Fixed assets total quantity balances between Fixed Asset Module and IBS system.
Attending quarterly stock take of Fixed assets at 3rd party warehouses
Continuously searching and implementing ways to improve efficiency of processing and reporting of Fixed Assets, i.e streamlining the monthly upload process of asset additions onto the Fixed Asset Module
Daily approving of expenditure requests raised by various departments, through first verifying correctness of all details, i.e currency, quantity, entity, supplier, gl code used, amount in line with quotation/ invoice attached, approved by correct line manager and correctly approved as per company policy.
Maintained and managed close relationships with Supply Chain and Customer Operations Departments and discussed monthly cost centre performance.
Managed and coordinated key projects allocated to me by Corporate FM and Group Corporate Controller.
- Monthly Reporting, Quarterly Forecasts and Budget Reporting to overseas holding company, in accordance with IFRS Standards and Group Accounting Instructions.
- Preparation of Financial Statements and Group Reporting pack for year end audit in accordance with IFRS Standards and Group Accounting Instructions.
- Responsible for the internal controls being implemented and maintained effectively to minimize risk and financial loss. Implemented an intranet based platform for all internal controls procedures and related documents to be added onto for easy access by all employees. Reviewed and updated procedures once a year in conjunction with guidelines received from holding company
- Involved with strategic planning and implementation through financial feasibility studies done on expansion of business into Africa, drafting of business plan for setting up a plant in Zambia or acquiring existing plant in another province
- Super user on ERP system, BAAN responsibilities included resolving errors on batches, integration transactions; set up month end reports and running year end procedures; creating new integrations and linking to correct transaction types, maintaining ledger accounts set up
- Performed monthly analysis of revenues and costing and converting data into value adding information. Also, performed calculations on BOM and verifying correctness of entered data on ERP system, as well as analysis of factory efficiencies and production and labour related variances.
- Responsible for pricing and costing of all new initiatives, business ventures and investments.
- Responsible for overseeing export and imports, adhering to legislation through monitoring exchange rates, authorisation of FOREX bank required forms.
- Responsible for accounts receivable department in ensuring timeous collections of outstanding accounts and minimising the risk of bad debts, through monitoring monthly ageing analysis, signing off monthly cash account reconciliations, monitoring validity of monthly discounts given to customers and assisting with collection of outstanding debts - 3 direct reports
- Responsible for accounts payable department by monitoring monthly accounts payable reconciliations, authorizing weekly payments to suppliers via internet banking, monitoring validity of cheques issued - 3 direct reports
- Responsible for control of Fixed Assets Management and CAPEX, by monitoring authorisations of CAPEX spent within allowed approved budget. Ensuring proper approval for disposals is obtained. Ensuring assets is properly capitalised within IFRS standards and group instructions. Liaising with appropriate management regarding budgets and forecasts of assets and building it into the budget and forecasts - 2 direct reports
- Responsible for payroll department, ensuring weekly wages and monthly salaries is paid on time, by checking monthly payroll is processed in accordance with company policies, labour law and taxation rules. Also, verifying validity of employees on payroll and verifying bank accounts used for payroll payments. - 1 direct report
- Responsible for inventory management, through monthly stock takes of Finished Goods, Raw Materials and Production related Spares. Monitoring inventory turnover and implementing new strategies to reduce NCWC.
- Successfully project managed payroll team in change over and set up of new payroll system
- Responsible for daily operational excellence and assisting with HR functions, implementing KPI's for each team member and effectively monitoring progress. KPI's were set up in line with Holding Company's strategy for the short and medium term.
- Maintaining fixed asset registers according to IFRS, local tax requirements and group regulations by controlling CAPEX spent, obtaining proper approval, running depreciation run monthly and managing physical verification of assets at all 4 factory locations.
- Managing of new Capital project of approximately 20mill UAEDhs through tracking of capital spent on a monthly basis and reporting progress of project to Top management. Building of a new factory and office building.
- Preparing monthly management accounts for management meeting
- Ensuring all legislative requirements regarding overseas royalties payments are met and audited by external auditors accordingly
- Preparing monthly general ledger reconciliations
- Controlling daily cash flow of company to improve financial position
- Controlling and managing accounts payable department in such a way to improve organization’s cash flow and overall financial position, i.e authorising weekly payments, maintaining of supplier ledgers, signing off monthly supplier reconciliations, authorising petty cash.
- Checking wages payroll weekly and all relevant wages and salary payments monthly ensuring compliance with labour law and company policy
- Assisting with monthly finished goods stock take, analyzing variances and seeking areas to improve on negative variances
- Calculating and programming production information for new factory on BAAN (ERP System)
- Maintaining production formulas according to actual production specifications
- Analyzing current database to assess correctness of production formulas to agree with actual production requirements on all 4 factories
- Maintaining and investigating maintenance schedules of factories monthly
- Calculating monthly standard costing rates
B Com (Law) - Completed in 2001 Passed South African Public Accountants exams in 2005 to become a Registered Public Accountant