Chief Financial Officer
Mabani Steel LLC
مجموع سنوات الخبرة :17 years, 1 أشهر
Head hunted to lead finance department of leading steel fabrication and construction industry player in UAE having offices across MENA region. Reporting directly to BOD of Al Rajhi Group.
• Leading finance transformation, SAP implementation with focus on cost savings and project costing.
• Successfully preparing and presenting 5-year budget and forecasting plans to Al Rajhi BOD.
• Closely planning and monitoring all cash flows, managing banking relations as bank signatory.
• Leading and training finance team in understanding and implementation of IFRS 15 and 16.
• Advising and implementing best practice methods to increase revenues and reduce costs.
• Restructured accounting and finance team, creating efficiencies and segregation of duties; right-sized department and communicated vision to staff, enabling financial improvement.
Managing and running all affairs of the organization from business development to execution of assignments.
• Managed team of 10 direct/indirect reports and financial operations for group with AED 1.5+ Billion in Revenue.
• Providing CFO services, managing book keeping and finance department for clients across various industries.
• Prepared and presented monthly reporting packages with comparative reports and variance analysis.
• Assisted various clients in IFRS conversion by providing them understanding of different principles of accounting related to GAAP and IFRS.
• Created complex financial models to structure employee financial incentives and thereby efficiently matching company and individual performance.
• Project management and ensuring that assignments are completed within budget and timeframe agreed with the client.
• Successfully implemented VAT in 25 Companies and trained junior staff on VAT.
Kelly Steel is architectural steel Fabricator with projects all over GCC. I was hired to revamp dysfunctional finance department and train new team.
• Reconciled over 400 employee accounts and 300 Supplier/ Accounts payable ledgers.
• Designed monthly CPU reports and monitored monthly Production Costs.
• Encouraged and introduced Cost center accountability.
• Lead the modelling, planning and execution of all financial processes.
• Prepared monthly financial results, budget, quarterly forecasts and cost center costing reports.
• Performed detailed analysis of accounts, prepared month-end reports and presented findings to top level management.
• Drafted executive analysis report highlighting business issues, potential risks and profit opportunities.
• Recommended innovative alternatives to generate revenue and reduce unnecessary costs.
• Conducted review of the monthly Business Activity Statements and balance sheet reconciliations.
• Managed the bookkeeping functions using ERP Package, including maintenance of the general ledger, accounts payable, accounts receivable and payroll.
• Identified and Implemented cost reductions that realized AED 5 million by streamlining process, departmental restructuring and reducing manufacturing inefficiencies.
• Provided supervision of the annual internal and external audits.
• Responsible reviewing weekly accounts payable run and their authorization
• Assisted CFO in drafting and implementing Financial and HR policies.
• Reduced number of days required for monthly financial closing by 07 days.
• Prepared and reviewed payroll for staff of more than 400 employees (WPS and non WPS employees).
Group of Companies with subsidiaries in EU and focus on startups including ecommerce startup boomingeffects.com.
• Successfully prepared and presented financial models and secured funding for 02 projects.
• Recovered long held receivables and guarantees worth 1 million USD.
• Negotiated favorable rates for SMS marketing and online payment switch. Directly negotiated with suppliers in China and set up LCs.
• Lead finance and business consultant for setup/launch of ecommerce startup boomingeffects.com.
• Prepared and submitted monthly management accounts in a timely manner.
• Prepared the necessary weekly and monthly documents, including payroll and monthly costing reports without single day delay.
• Verified and reviewed the general ledger for errors and performed reconciliations.
• Designed, implemented and monitored compliance with internal accounting policies and procedures.
• Suggested modifications and improvements to existing processes and helped in the evaluation of such changes.
• Reconciled bank and investment accounts; and managed cash flow.
• Supervised all Finance & Administration Department employees and was responsible for the division’s overall management, coordination, and assessment.
• Assisted with the negotiations and managed the employee insurance and benefits plans.
Naya Tel is the first south Asia FTTH Company and one of the fastest growing Company in Pakistan.
I was hired to set up Tax department and represent Company in tax proceedings along with managing Finance department. Promoted to next level to set up independent internal audit department when previous attempts failed.
Trained and groomed team of fresh grads and achieved targets set up by BOD within 03 months as against 06 months deadline. Selected as lead representative to facilitate implementation of SAP.
Key Achievements:
• Established Internal Audit Department, with designing and Implementation of Charter and SOP’s.
• Defined timelines & met deadlines of resource allocation & overseeing budgets.
• Recruited, trained, led and retained internal audit team with review of entrance packages.
• Reviewed and approved audit approaches & key audit documents, such as brainstorming materials, risk control matrices, sample selections, and audit reports.
• Aimed, supported and played a key role in designing, procuring & implementing ERP software.
Special Assignment:
On special instructions of CEO successfully carried out the following special assignments.
• Financial Forecasting
• Budgeting
• License acquisition
• Package plans review
• Services costing
• Cost controlling
• Incentives reviews
• HR pay raise evaluation
• Financial Modeling
• Project Costing
• Marketing & Sales strategies
Volunteer Work:
A not for profit organization set up under Social Welfare volunteer act (Ordinance X1, V1 1961) engaged in community uplift programs.
• Prepared 05 financial model and budgets on winning projects
• 3 Annual Audits
• Managed corporate profile
• Represented client as CFO
• 3 years financial statements & bookkeeping
Voice Trust is Dubai based voice bio-metric services company that provide bio-metric security solutions to multinational banks and other corporations.
• Prepared financial and management controls and assisted in day-to-day business financial needs and all other tasks as mentioned above.
• Liaison with Banks and prepared bank reconciliations
• Management reports
• Recording minutes of Board Meeting
Accounting, Auditing, Treasury Management, and Reporting
• 6 Annual Audit, and 2 Special Audits.
• Successfully managed change of financial year.
• 6 Provident Fund Trust Audit.
• Prepared & Consolidated of Financial Statements.
• Prepared Financial Models and Plans.
• Saved mark-up cost through efficient Cash management.
• Achieved highest profits with efficient treasury management.
• Build system of Cash Approvals and Management.
• Build System of Reconciliations and Vouchers
• Planned and Scheduled audits.
• Payroll System Implementation including Taxation.
• Recruited, Led and Retained Accounts Team.
• Managed International Procurement, LCs and Banks.
• Fast Track Promotions and elevation.
• Departmental Budgets with Variance Analysis.
• Presentation of Reports to Top Management.
Tax:
• Reviewed & submitted 3 annual tax return.
• VAT approvals and submission.
• Fulfilled several Tax Audits.
• Completed all deferred tax working in audits.
• Successfully fought many Tax Cases.
• Managed Consultants and Other Stakeholders.
Additional Projects:
Successful Completion of Financial Cycles, after acquisition of following subsidiaries and Projects;
• Super Dialogue Pvt. Ltd
• Metrotel Pvt. Ltd
• Voice trust eServices Pakistan Pvt. Ltd
• SochoLogic Pvt. Ltd
• Developyst
A Not for Profit organization set up under section 42 of Companies Ordinance, 1984.
Responsible for procuring Company license and setting up finance department, designing Finance SOPs, Financial Statements, Financial Modelling, maintaining accounting books, cashflow management, and payroll disbursement.
Successfully represented Company in Fundraisers /Investment rounds as CFO.
Supervised and lead simultaneous external audits of several top tier clients. Communicated efficiently with the client’s management to ensure audit schedules are delivered on time and thus my team had a continuous flow of work.
Completed over 30 audit and assurance assignments of multinational Companies, Public Limited Listed Companies, Telecom operators, Oil & Gas, Power plants, National Insurance Company, and NGOs.Tested and reported on IT & Internal control of leading SME bank.
NZHJ Chartered Accountants is a Partner firm of Polaris International Group.
I was assigned to the biggest Oil Exploration Company in Pakistan on 6 months assignment focusing on the preparation of decommissioning cost report and Fixed Asset register with physical verification of more than 23k assets across 30 sites.
Lead External audit teams across 12 UNDP program audits
Qualified Chartered Accountant. Subjects studied: Business Finance decisions, Advance Management Accounting, Advance accounting, Advance Financial reporting ( Which included IFRS/ IAS), Taxation, Economics & Finance, Information technology and auditing, Audit, Business and Corporate Laws, Cost accounting, Business mathematics and stats, Business communication & Organizational behavious, business management.
Received Based on experience in designing and implementing internal controls at Nayatel (Pvt) Limited
The Institute of Financial Consultants is an international organization for financial professionals. The course Covers Financial Aspects like Financial reporting, Corporate Finance and Risk assesment
I have successfully completed my B.com from the above mentioned university on correspondence basis. Major subjects studied are as follows: Accounting Auditing Marketing Business mathematics and statistics.