Financial Consultant
Saudi Arabian Airlines
Total years of experience :24 years, 6 Months
Reporting to VP Finance, managing business processes and reporting in assigned areas, providing professional expertise and direction. Have been awarded Certificate of Appreciation twice for outstanding performance.
Business Areas:
Accounts Payable
Payroll
Budgeting
Accounts Payable
Reviewing business processes, identifying bottlenecks and loop holes and suggesting fixes;
Maintaining up-to-date business process manual;
Ensuring accuracy and timeliness in capturing expenses and payables;
Addressing issues with pending invoices with vendors and user departments;
Managing vendor accounts, obtaining confirmations and performing reconciliations;
Raising monthly accruals for recurring expenses;
Reviewing trial balance, analysing movements and evaluating variances;
Analysis and clearing of intermediary control account with Treasury Dept.;
Coordinating with and resolving posting issues with Budget Dept.;
Netting-off reconciled balances with affiliated business units;
Generating reports for management and external auditors;
Maintaining / cleansing vendor master data.
Payroll
Complete accounting cycle for eight payroll areas covering over 14, 000 employees;
Performing monthly payroll reconciliation and validation;
Reconciliation of control account and clearing of open items;
Raising billing to affiliated business units;
Processing payment of pension and third party obligations;
Performing monthly closing, posting accruals and adjustments;
Generating reports for management and external audit;
Providing training to staff in affiliated business units;
Gathering and validating demographic data for actuarial valuation of Defined Benefit Obligations of Saudia Group (8 BUs). Coordinating with actuary for valuation.
Budgeting
Preparing/ updating templates for submission of annual budget by business units;
Holding workshops, presenting templates and providing training;
Holding follow-up meetings, addressing queries, and resolving issues;
Evaluating submissions, raising inquiries, making adjustments, and compiling responses;
Preparing consolidated budget and forecast financial statements;
Presenting consolidated budget and financial statements to higher management.
Managing overall Accounting and Finance function, maintaining General Ledger, Payroll, Receivables, Payables, Revenue and Fixed Assets;
Ensuring compliance with Company’s Financial Policies & Procedures;
Preparing quarterly and annual financial statements in compliance with applicable laws and regulations, providing information / reports for external and internal audit;
Preparing daily cash reports and monthly management reports on liquidity;
Performing financial analysis and reporting to management;
Evaluating business processes, making improvements and ensuring compliance;
Cash flow and profitability projections for proposed expansion and negotiation with lenders;
Preparing annual and supplementary budgets, monitoring variances and reporting;
Managing tax payments and submissions in coordination with company tax consultants;
Coordinating with and meeting reporting requirements of administrative authorities such as Stock Exchanges, Securities and Exchange Commission, State Bank, Statistical Bureau;
• Prepared Procurement Manual after comprehensive study of the Procurement System, highlighted weaknesses in internal controls and suggested changes; the study covered:
Requirement analysis;
Indenting;
Stores verification/Inventory leveling;
Procurement;
Receipts;
Updating accounting records;
Payments;
Cash purchases;
Listing and De-listing of suppliers; etc.
• Conducting pre-audit of:
All payments to suppliers, sales agents, import and export clearing agents, transporters etc.;
Purchase Orders for imports and inland purchases;
Salary and final settlements;
• Conducting periodic post audits of HR & marketing departments and cash in hand; and,
• Any other job as and when assigned by management.
• Head of Accounts Branch of 15 personnel,
• Managing complete set of books of accounts for 61 locations using Oracle Financials,
• Managing cash flows for over 20 disbursement accounts,
• Reconciliation of revenue from 61 collection accounts,
• Disbursement of payroll to over 1300 employees,
• Maintaining Fixed Assets register (Oracle Financials),
• Monthly closing of books of accounts and reporting to NADRA Headquarters,
• Periodic Internal Audit of Nadra centres,
• Monthly reporting to DG Islamabad Region and Director Accounts, NADRA Headquarter.
Assisting GM in planning internal audit schedules for the Group and assigning audit teams;
Coordinating with management of various projects in terms of internal audit planning;
Deployment of supervisors and other audit staff to specific assignments;
Visiting audit teams on assignments, performing periodic reviews and providing directions;
Reviewing reports prepared by audit teams, highlighting critical areas;
Ongoing review and evaluation of existing internal controls at projects, preparing flowcharts and updating audit programs;
Assisted Finance Department in consolidation of financial statements of all industrial and welfare projects for quarterly and annual reporting.
• Preparing Audit Planning Memorandum;
• Developing audit programs;
• Conducting audits keeping in view the requirements of IASs, ISAs and The Companies Ordinance 1984;
• Preparing Management Letter;
• Reporting to Manager;
• Developing accounting systems for clients, preparing/updating books of accounts etc.
• Co-ordination with Taxation Department on behalf of clients;
• Preparing opinions on taxation matters;
• Responding to notices issued to clients under Income Tax Ordinance, 2001;
• Preparation of annual income tax returns for companies and individuals;
• Attending hearings before taxation authorities etc.