MD MAMUNUR RASHID

Finance Director, PACT INC, PGMF, USA & Myanmar (Oct’15 to now)

Pact is a promise.
The promise of a healthy life, of a dignified living of sustainable natural resources that benefit communities. Now more than ever in its 42-year history, more than 40 countries, Pact is helping millions of people who are poor and marginalized discover and build their own solutions and take ownership over their future. Pact’s promises are fulfilled in partnership with local communities. Our integrated approach to building the capacity of local organizations, developing good governance and cultivating markets is carried out by individuals who adapt our expertise to their own environments and challenges. Every day, as Pact employees, we promise to dedicate ourselves to a world where the poor and marginalized earn a dignified living, are healthy, and take part in the benefits that nature provides (More Details http://www.pactworld.org) .
PGMF is the largest and oldest INGO in Myanmar. Covering more than 60% market share of INGO work in Myanmar. This role is responsible for delivering key business and financial results through leading the teams in financial planning & reporting, tax & treasury and statutory financials. The role directly interacts with other senior management and board members to ensure smooth integration of business assumptions, key drivers to enable delivery and keep external stakeholders on board with business & industry development. Under this role, I contribute to:-
• Overall Finance, ICT & Treasury talent pipeline development and work towards maintaining a congenial work environment & culture at PACT.
• Managing asset of USD400 Ml and liability of USD 250 ML
• Payroll management of 270 offices 5000+ staffs.
• Treasury management by 5 dedicated treasury team for the annual amount of USD 1 BL
• Implementing business excellence processes.
• Financial controlling and cash flow management
• Dealing with foreign exchange and foreign currency transactions
• International taxation
• Advisory on investment opportunities
• Comprehensive cash flow management and cost reviews
• Budgeting and control
• Detailed business analysis
• Change management
• Leading computerization team of 15 people for digitization for overall organization operations
• Key member of organization transformation team to 4th sector organization.

Deputy Finance Director, PACT Inc, PGMF; USA & Myanmar; (Sep 2014-Sep 2015)

 Strategic
• Manage the Finance and Treasury Department, providing credit, savings, and quasi-insurance products to over 640, 000 clients with a loan portfolio of over $115 million and a savings portfolio of $40 million across 90 regional locations.
• Facilitate the implementation of an automated MIS system (Abacus) across all operational areas
• Facilitate PGMF’s program to provide capacity development and loan capital to nine local MFIs
• Advise the President/DD on operational and strategic issues and backstop the President/DD when necessary
• Implementing PGMF’s management restructuring plan
• Liaise with counterparts in the Government of Myanmar and external stockholders-auditors, Bank, Donor, tax authorities etc.
 Financial Management & Accounting
• Management of total assets of USD 150 ML and liabilities of USD 80 ML
• Oversee the PGMF finance department, general accounting, and a team of 191 financial professionals (direct reporting 15 and others field office based) responsible for the overall financial management of PGMF programs, projects and assets in Myanmar.
• monthly reports for a high volume of activity and in multi-currency
• Monitor PGMF financial performance and ensure on time financial reports to stakeholders.
 Budgeting, Planning, Financial Analysis and Reporting
• Budget preparation, processes and management in conjunction with the relevant program managers
• Regular review business plan and strategic plan for the growth of the PGMF and its profitability.
• Develop 3 and 5 year microfinance projections with senior management.
• Coach and trained up staffs in use of financial information.
 Internal Controls
• In coordination with Pact, Inc. manage annual financial and compliance audits of PGMF in Myanmar as related to projects and PGMF by providing timely responses to the Pact HQ finance team regarding supporting documentation and responding to requests for information from external/internal auditors .
• Coordinate donor initiated audits of their funds and manage those audits in conjunction with Pact HQ finance team and the project teams.
• Draft timely and complete management responses to internal, financial and donor audit findings and follow up on corrective action plans as required to ensure that audit findings are monitored and responses satisfied.
• Arrange capacity building workshops or training for the internal auditors on needed skills area.
 ERP Implementation
• Design, enhance, and implement accounting systems and workflow processes for the institution to ensure responsiveness to internal control requirements.
• Ensure smooth implementation of SERENIC NAV’13 for PACT HQ, ABACUS for PGMF Myanmar and smooth running of QUICKBOOK for Country office of PGMF
 Treasury Management
• Liquidity management for loan operations Yrly $600 Ml and Operating expenses $100 ML.
• Supervise the treasury team of 5 person
• Advances settlement and liquidations of employee and subgrantee expenses, and vendor transactions.
• Liaison with Banks for locally-held accounts and monitor exchange rates to make timely decisions regarding drawdowns and cash transfers.
 Fixed asset and Inventory Management
 Donor reporting and analysis: Ontime and give insight to management about project progress in comparison to budget and variance analysis.
 Payroll management of 2800+ staffs

Some achievement in PGMF:
- Historical balances reconciliation as of Sep’2014
- Upgrading the finance, treasury and operational manual
- Managing organizational changes along with ensure performance.

Head of Finance, BRAC Tanzania, Tanzania, (July 2012 to August 2014)
• Oversee the financial management, reporting and accounting activities of the BRAC in accordance with organization and donor policies and Financial Guidelines.
• Prepare monthly reports for a high volume of activity and in multi-currency totaling $35Million
• Enhance the quality of performance and efficiency of the Finance section of the BRAC.
• Cash Management of around $120 million
• Payroll Management of 1400 staffs.
• Management of Mobile money transactions USD 0.5 Ml
• Agri Finance product development and analysis.
• Product analysis of mobile banking.
• Manage and train staff of 150 for various accounting task.
• Dealing with multiple donors for assessment, reporting and queries.
• Managed bank accounts -donor wise and project wise.
• Long term and short term Budget and variance analysis project wise and donor wise amounting to $45 million.
• Deal with the statutory and internal audit department.
• Leading finance team in Change management, ERP implementation.
• Tax and VAT management
• Working closely with legal and IT department.
Achievements in BRAC:
• Successfully solves company act and NGO act related legal issues.
• won the objection against Tanzania revenue authority(TRA), amount : USD 352K
• Successfully implementation of ERP system name SbiCloud.
• Received Microfinance Transparency Awards
• As first Bangladeshi Chartered Accountant, got membership in National Boards of Accountants and Auditors (NBAA), Tanzania
• On time donor reporting and statutory reporting.
• Concept note approved by Donor for funding on ERP system (SbiCloud)
• Best exhibitor award 2014 for Agri Finance product.

towards the BOD
• Supports the Board in policy formulation and setting the business directions of the
organization by providing necessary input.
• In conjunction with the Board, assess the long term financial trends and review prospects
for future growth of business.
* Management reporting
* Present monthly and year-to-date financials with accompanying analysis of results.
Prepare Monthly business Result
* Monthly reconciliation between GL, HO account and MGT result
* Ensure accurate cost booking and allocation among projects
* Ensure accurate Stock valuation.
* Variance and Ratio Analysis
* Stock write off Provision analysis and preparing Justification
* Master Database update for cost allocation
* Investigation and Mitigation of Audit Queries.
* Business planning & Budgeting
* Review reports and analyzes projections of COGS against actual figures and suggests
methods of improving the planning process.
* Provide ongoing financial modeling and analysis expertise to business partners.
* Actively working for change management in ERP implementation.
* Administrative responsibilities
* Improve efficiency and ensure best optimization of resources.
* Approval of payment and establish financial hygiene in control area
* Control and supervise non material supply chain cost to bring efficiency and generate
savings.
Achievement during Unilever period
* Certificate of Improvements from the Finance Directors of Unilever Bangladesh
Limited for Successful implementation of ERP system.
* Chairman Awards for continuous improvements on Q3, 2011.
* Chairman Awards for significant contribution for the year 2011.
* Successfully roll out new ERP SAP for costing department.
Supervisor (Audit, Tax & Advisory), KPMG, Bangladesh;

 Statutory & External Audit:
Develop audit plan, monitor, review and finalize audit of various local and multinational manufacturing and trading companies, telecom companies, banks and non-banking financial institutions companies and non-government organization. Review the Financial Statements to ensure compliance with Bangladesh Financial Reporting Standards/International Financial Reporting Standards (BFRS/IFRS), the Companies Act, the Securities and Exchange Rules and other applicable laws and regulations. Assisting in preparation of Financial Statements and advising on appropriate accounting treatment of complex transactions.
 Special audit:
Review of financial statements, group reporting, certification of dividend, technical fees and royalty regarding outward remittance, turnover, creditors for amalgamation purpose, and review/audit of receipts and payments account.
 Advisory of Tax and VAT and repatriation of foreign currency:
Advising on VAT and Tax planning and compliance requirements of VAT, Tax, Foreign Exchange Regulation Act and laws. Review of income tax computations along with relevant schedules.
 Internal Control System review:
Review the Internal Control System and accounting support regarding finance functions, sales and debtor controls, accounts payables and procurement procedure, revenue recognition and key accounting policies.
 Portfolio Review of Financial Institution:
This includes the review of assets (loan) and liabilities of Financial Institution under the special assignment to check the financial health of the institute, advice the assets classification and assets impairment provisioning, etc.
 Policies & Manual:
Developing fixed assets policies, Accounts Manuals, Internal audit and Risk management Manuals for various clients of KPMG