Finance Manager
Sparrows Offshore Services Limited UK
مجموع سنوات الخبرة :15 years, 1 أشهر
Management and control of all commercial and finance matters for group companies.
Reporting:
• FP&A and Management Reporting, Preparation and delivering of P&L, balance sheet, monthly, quarterly revenue and expense forecasts and monthly performance reports on individual project, client engagements and the corporate enterprise.
• Prepare the annual budgeting and monthly forecasting process. Support business in achieving budget objectives by scheduling expenditures; analyzing variances, trends. Collecting, interpreting, and reporting financial data and suggest corrective actions.
• Preparation of corporate financial performance reports: project costing, project profitability, forecasting analysis and revenue projections that help determine future profitability, financial position and risk on individual project and client engagements.
• Preparation of accurate cash flow forecast, ensure the availability of funds for cash outflows as required, weekly reporting on forecasted and actual collections.
• Prepare project’s investment and risk report. Conduct NPV, sensitivity analysis, IRR analysis, feasibility studies, develop scenarios, proforma financial projections for new business opportunities and on any potential acquisitions.
Accounting:
• Accurate monthly revenue recognition process with jobs and WIP reviews, on time invoicing.
• Validate/approve all financial transactions and ensure correctness, review/post JV, payment, purchase, intercompany transactions, prepayments, depreciation, staff provisions and other financial closing entries created by finance team and ensure their accuracy and proper posting
• Oversee and support the team for monthly closing process (including AR, AP, GL, etc.). Ensure accuracy of revenues, receivables, payables, accruals, provisions etc. while performing closing procedures.
• Conduct weekly reconciliations of all bank, cash, receivable, payable and adjust cash flow statement accordingly.
• Monthly trial balance review, P&L and balance sheet preparation and review/comparison.
• Collection of receivables, insurance claims and retentions.
Treasury/Banking
• Monitor day to day retail banking, reconcile transactions, payment approvals.
• Manage local and international banking activities, trade finance, project finance, debt management, obtain bank facility, negotiate charges and commission on guarantees, performance bonds, tender bonds.
Taxation:
• Assist in transfer pricing strategy, tax compliance requirements and procedures in Middle East and Asia Pacific region, especially value added tax ("VAT"), Corporate Income Tax, withholding tax filing procedures.
• VAT general ledger accounts review on input tax and output tax and matching with the tax return(s), perform tax validation, data reconciliation, identify tax compliance issues/ red flags and provide recommendations/ practical solutions, audit ready for any query.
Audit & Compliances:
• Focal point of country wise financial audits by independent external audit firm (Big 4’s).
• Accuracy, timeliness and completeness of all final accounts and schedule for annual external audit, reviews and ensuring compliance with IFRS and with all legal requirements to respective business units and consolidation of financials and audit reports.
• Prepare and file/submit regulatory reporting ESR and UBO declaration.
• Responsible for DED Classification and ICV.
Financial and Project Management:
• Provide Bid support, financial proposal support.
• Deal with all business stakeholders, JV partners, client’s, contractor’s, suppliers.
• Monitor project timeline, milestone, cost reduction targets, project targets, profitability targets.
• Delegate duties to the team members, supervise them timely, manage workload.
• lead and prepare the annual budgeting and monthly forecasting process. Support business in achieving budget objectives by scheduling expenditures; analyzing variances, trends, collecting, interpreting, and reporting financial data, and initiating corrective actions.
• Financial planning and reporting processes - preparation of project finance reports, corporate financial performance reports, utilization, project costing, project profitability, cash flow forecasting.
• Rolling 12 months management accounts and related MIS reporting, OPS pack power point presentation with commentary for management review and monthly reporting.
• Accurate monthly revenue recognition process with jobs and WIP reviews, POC (percentage of completion) / Deferred Revenue reports at all BU with engineers, quantity surveyor and project manager of different segments and proper cost allocation.
• Preparation of progressive financial models that capture the future operating, investing, and financing activities and help determine future profitability, financial position and risk on individual project and client engagements.
• Roll Up of monthly P&L. Balance sheet preparation and review.
• Assessment and finalization of Revenue, DOE, SG&A, EBITDA Run Rate, Utilization and Credit Line.
• Conduct NPV, sensitivity analysis, IRR analysis, feasibility studies, develop scenarios, proforma financial projections for new business opportunities and on any potential acquisitions.
• Accruals, prepayments, asset management, disposal, write off scheduling.
• Focal point of all legal and statutory requirements. completeness, accuracy and timeliness of all financial reporting including the coordination and completeness of annual audit (financials) reports, reviews and ensuring compliance with IFRS and GAAP and with all legal requirements to respective Business Units.
• Treasury management - Supervise banking, trade finance activities, project finance activities, debt management, obtain bank facility, negotiate guarantees, performance bonds, tender bonds, insurance commission, maintained healthy relationship at all levels of banking.
• Evaluate and appraise investments, capital expenditures and financing of projects.
• Oversee the accounting team for monthly closing process (including AR, AP, GL, etc.).
• Monitor CAPEX and OPEX within the approved budget for the region.
• Ensure efficient and effective management of Business Unit’s (BU) finances through all necessary financial controls, systems and processes and ensures accuracy and integrity of the BU financial records.
• Virtual meetings with engineers, quantity surveyors, country managers to understand business process, performance measured against targets, strategies, and trends. Ability to turn business decisions into measurable metrics from both quantitative and qualitative information that can be tracked and managed.
• Maintain professional relation and smooth communication with JV partners, contractors, sub consultants, and suppliers.
• Lead Continuous Improvements that strengthen the controls environment and drive improvements in process efficiency and effectiveness that deliver standardization, automation, and simplification across entities. Lead development of business process improvements that deliver efficiency and effectiveness for the business
MBA
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