Mairaj Hussain Muhib

Key responsibilities at IMGWOA:
• Lead the budget formulation, approval and implementation process for the park involving three revenue segments and 13 support functions after deliberation with business/department head and Executive management;
• Design, implementation and monitoring effectiveness of internal financial controls across all departments;
• Ensure liquidity through effective working capital management to support park operations;
• Constantly review financial policies and controls around cash collection, credit card operations, inventory control including wastages, shrinkage and pilferage and reconciliations relating to revenue, suppliers and customers to ensure their operating effectiveness and efficiency;
• Daily, weekly and monthly reporting of performance benchmarked against key budget metrics for each business segment, review and analysis of overall and store wise performance vis-à-vis budgets, on a monthly basis with the business heads for CXOs and Board reporting;
• Support executive management on formulation of short and long term business plans and strategies to drive growth and monitor performance in line with organization’s vision and mission statement;
• Manage full accounting and reporting process across all business segments/departments in compliance with IFRS standards and other regulatory requirements;
• Debt facility management involving liaison with the banks on a day to day basis for debt service, covenant compliance, performance reporting and other routine matters;
• Procurement support on review of vendor contracts for rates, commercial terms and performance for stock and non-stock items and services and nurture relationships with critical service providers;
• Lead the review and enhancement of IT systems to support business operations, financial management & reporting;
• Design and implement suitable risk management techniques (including hedging against market risks like interest rates, forex exposures, insurance) and constantly monitor them to ensure effectiveness;
• Liaise with external auditors and responsible for smooth execution of annual audits;
• Liaise with IP (Intellectual Property) licensors on royalty and other contractual performance and reporting obligations;
• VAT leader for the entire group comprising 13 legal entities with primary responsibility to ensure full compliance, timely reporting and interface with the regulators (FTA) on routine matters and other clarifications.

NOTABLE HIGHLIGHTS AT IMGWOA:
• Actively supporting the CFO on the on-going restructuring of AED 2.1 billion syndicated debt facility;
• Awarded “Superhero of the year” in 2016 by the CEO for efficiently setting up the financial operations for park opening including but not limited to resource hiring, implementation of robust financial policies and procedures, IT systems and reporting and park wide insurance within challenging time frame;
• Achieved working capital savings in excess of AED 1 million in less than six months through effective negotiation of several barter arrangements with vendors;
• Secured highly favorable terms for various insurance policies for park wide operations covering risks in excess of US $ 1 billion and achieved premium cost saving in excess of c. AED 4 million (vis-à-vis budgets) through effective negotiation, during park opening.

About URUK:

Uruk (a Crescent Petroleum Group Company) offers Engineering, Procurement and Construction (EPC) services with expertise in the power, oil & gas and water management sectors. Uruk is head quartered in Dubai and operates primarily in Iraq through its wholly owned subsidiary.

Key responsibilities and tasks:
• Design the financial control framework to ensure full financial control in line with international standards;
• Develop and control a centralized accounting system to ensure that accounts are effectively managed for smooth and effective group reporting;
• Supervise, train and guide the finance/accounting team at the project sites and the offsite subsidiary in Iraq;
• Work closely with senior management and operational management on a number of ad-hoc projects aimed at improving the financial performance of the business;
• Member of the Executive Committee involved in the evaluation of tenders in relation to commercial, financial, legal, insurance risks on the project to support business decisions;
• Focus on the development of long-range forecasts and related budgets, perform variance analysis to compare budgeted figures to forecasts (profitability analysis);
• Lead and maintain effective banking relationships (both Dubai and Iraq) in securing and managing working capital and trade finance facilities for projects as per contractual requirements;
• Present periodical financial information to the Board/shareholders;
• Constantly review and discuss the project performance with the Controllers to identify changes in the risk profile and highlight the same to the Executive Management with corrective measures;
• Ensure full compliance of the insurance policies as per the project requirements and constant liaison with the insurance consultants/brokers on the claims to the insurers.

NOTABLE HIGHLIGHTS AT URUK:
-Improved the bottom line by generating additional revenue in excess of US$ 800 K through effective working capital management;

-Successfully negotiated 15% reduction in fees and interest rates with banks and reduction in margin money for project guarantees and LCs by 10-15%) resulting in release of working capital and finance costs saving to the tune of circa US$ 500 K;

-Arranged project finance facilities from banks worth US $ 50 Mn at competitive rates;

-Played a stellar role in achieving project cost savings in excess of US$ 300 K through re-negotiation of the commercial terms of an agreement with a labor supply agency;

-Special appreciation from the Board of Directors & shareholders of the Group for streamlining the accounting and finance function, designing and implementing a robust internal control framework including the regional entities and achieving smooth execution and sign offs of external audits for 5 previous financial years.

External audit)
Key responsibilities and tasks at EY & Deloitte:
* Evaluate the overall engagement audit risks and devise suitable strategy for an effective and efficient audit;
* Detail review of client’s internal controls over business processes to ensure their effectiveness and efficiency;
* Provide recommendations and periodical follow ups on all material control deficiencies and findings to assist
the client develop a dynamic business control framework;
* Advise clients on matters relating to implementation and interpretation of the accounting and reporting
standards (IFRS, US GAAP etc.);
* Review of regulatory reporting deliverables to ensure compliance with the regulatory requirements;
* Present financial highlights and audit findings and recommendations to the Board/Management of the clients;
* Develop strong relationships across a network of existing and future clients and key stakeholders and leverage
these to gain new business/fee revisions.