Muhammad Faizan

- Responsible for financial discipline, working capital management, financial reporting, budgeting and forecast.
- Giving feedback to management on financial and internal control issues and assessment on various need i.e., IT infrastructure, corporate financing and cost control.
- Responsible for whole accounting cycle, Budget, Liaison with auditor and taxation.
- Driving financial and operational strategies with relevant stakeholders.
- Monthly financial statements and review of financial positions.
- Operation reports for productions and operation position reviews.

Responsibilities:
- Generate forecasts and analyzes trends in sales, finance, operations, supply chain, and other areas of business for financial and strategic planning purposes.
- Review, analyse and interpret financial actual and budgetary reports to develop observations and preliminary recommendations.
- Develops P&L, balance sheet and cash flow analysis and projections.
- Provides interpretation of financial data in spreadsheets, charts, and reports.
- Develop analysis on budgets, forecasts, inventory, and / or sales margins including product costing and break even analysis.
- Create financial models of "what if" scenarios to help future business planning decisions in areas such as new product development and new marketing strategies.
- Conduct small-scale projects, completing adhoc analysis.
- Audit financial practices to ensure accuracy and compliance with regulations, laws and standards.
- Develop and maintain financial information and robust financial control systems.

Achievements:
- Implemented Quick books and explored its limited functionalities to apply in manufacturing and provided variety of work-around solutions for inventory, manufacturing, and fixed assets etc, and Focus9 (ERP) to strengthen the control environments, transactional accuracy and check and balance, tracking the S&OP level forecast to flow through the MIS across whole organization and creating alerts for concerned users.
- Streamlined the tax filing system and proper and introduced transfer pricing mechanism within group companies;
- Assisting in planning, development and implementation of process improvements and documenting internal accounting controls and procedures in accordance with the business’ best practices.
- Implementation of ADP system for payroll execution, thus bringing efficiency and transparency in the BENCOM distribution system; and
- Developing costing of Products and creating fixed assets register from very scratch to bring efficiency and transparency.

- Overseeing all transactions related to general ledger, receivables, payable, payroll and financial reporting in accordance with GAAP and IFRS.
- Ensured compliance with accounting standards, regulations, internal financial controls and procedures
- Reviewed and presented Tax reporting and other relevant financial statements and reports -
- Prepared monthly and quarterly financial statements accompanied with variance analysis and recommendations
- Responsible for annual budgeting process and monthly forecast. Involved operations leadership to ensure the budget and forecasts were in alignment with the Company's strategic goals.
- Successfully implemented IFS (ERP) with the implementation partner in accordance with the the business operational model
- Overseeing the treasury functions and look after the trade and corporate financing requirements.

Achievements:
- Proposed, planned and implemented cost saving measures that brought down manpower cost (hired externally), equipment hiring expenses and additional income through variations mechanism for project delays;
- Engaged with system development team for successful implementation of Finance, Project, Sales, Procurement, Manufacturing and Payroll modules in IFS.
- Provided weekly & monthly project & contract performance and other cost analysis including variances to budget and performed monthly closing procedures; and
- Conducted project closeouts ensuring proper reserves left out, and costing and responsible for Investigating contracts outside of normal course with complex estimations and resolved their costing issues. Further, refined revenue recognition procedure as per IFRSs and following up for unearned portion with project managers.

Currently, I am associated with Midas Safety, a leading group offers safety products and having global recognition. At Midas safety, I am working with Safety Solution (Pvt.) Limited (Leading distributor and exporter of Safety and Industrial products) as Head of Finance, responsible departmental functions, broadly includes treasury and financial management, preparation of budgets and KPI’s on periodical basis, look after secretarial and corporate matters, taxation affairs, management reporting, maintenance and development of risk management procedures and involve in strategic business decision making to achieve mid-term and long term goals and objectives of the company. Apart from Finance Functions, I am working on broadening the Finance role in Business Processes to make an integration of Finance knowledge base in developing and strengthening business controls.

I also remain involved in special assignments related to group companies’ (Local and Overseas) Financial, Corporate, Compliance, Internal Controls & Governance and Accounting Affairs.

Achievements:

Involved in SAP implementation process and acted as project coordinator;
Devising the SOPs and Processes in accordance with best practices prevailing in industry;
Redesigning and restructuring the operation of different business segment of the company;
Recurrent business analysis and monitoring along with monthly review of sales and operational cycle;
Rectified Taxation, banking and corporate matters and procedures of the company; and
Developing and training the business team’s skills including behavioral, analytical and managerial.

I had associated with Dadex Eternit Limited (a listed company on Karachi Stock Exchange, the pioneer of plastic pipes and Cement based corrugated sheets and Pipes in Pakistan, having four manufacturing sites and countrywide penetration of its products), as Manager Accounts and Finance since February 2012 till May 2014.

Achievements:

Developed Pricing Department, thereby reduce the response time to quote prices to the customer;
Involved in the key decision making processes and prepared feasibilities over different strategic decisions taken by the senior management;
Rectified procedures for filing Sales Tax Return and revision thereof in accordance with Rules and Regulation for refund claims;
Highlighted the refund of Income tax to the top Management and actively involved in the process of getting refund from taxation authorities;
Additionally assigned the responsibilities of Local Procurement and redesigning of the procedures;
Introduced sales tax savings on transportation by revising billing procedure; and
Involved as project coordinator in implementation of SAP COPA module with respect to company’s operational processes.

• Overall planning of audits / assignments, conducting initial planning meetings with clients to understand & co-develop expectations and designing audit strategies in consultation with the Engagement Partner, after assessing the underlying audit risk of assignment in the light of the assessment of the client’s overall control environment.
• Obtaining a thorough understanding of the nature of the client’s business, the business and regulatory environment in which it operates, SWOT analysis, identification of critical success factors and key performance indicators.
• Application of International Accounting Standards, Technical Standards, Generally Accepted Accounting Practices in statutory audits and reviews and Accounting, Auditing and Governance standards and central bank's guidelines for financial institutions.
• Review and supervision of the work performed by audit / assurance team throughout the course of the audit / assurance.

Clients to Which I Have Served during the period with Ernst & Young Pakistan.

Assurance and Advisory:
• Takaful Pakistan Limited (Compliance Audit).
• Pak Qatar General Takaful Limited (Compliance Audit)
• Habib Metropolitan Bank Limited (Compliance audit)
• Emirates Global Islamic Bank Limited
• Atlas Funds

Statutory Audits:
• Zafa Pharmaceutical Laboratories (Private) Limited
• Chemsales (Private) Limited
• Pak Suzuki Motor Company Limited
• Agriauto Industries Limited
• Shabbir Tiles & Ceramics Limited
• Amreli Steel Limited
• Suraj Cotton Mills Limited

Special Assignment:
Bank Alfalah Limited (Internal Audit Manual)
Soneri Bank (Risk Management Manual)
Takaful Pakistan Limited (Accounting Advice on revenue Recognition)
Habib Metropolitan Bank (Internal Audit Manual)
Al-Abbas Energy Limited (Feasibility Report)
South City Hospital (Private) Limited (Internal Audit)
Unilever Pakistan limited (Internal audit)