Mohamed Fairoze Manikar

Highlights:
 Treasury Digital Transformation - facilitated BCM, H2H(SFTP), RCM, POS, Invoice Raise, Payment Gateway, MT940 & Automated Bank Reconciliation

Key Responsibilities:
 Managing the bank accounts with 11 different banks for 150 bank accounts. Handling opening & closing of accounts including Escrow Accounts. Arrange the required documents as and when requires by the banks. Coordinating with SAP team to create new GL code / block GLs for closed bank accounts, loans, interest etc.,
 Seek and extend business relationship with the banks and assist in acquiring new borrowing facilities for the group.
 Handle loan requirements and registers; prepare the loan repayment schedules and related settlement on timely manner, including Loan reconciliation, interest accruals & recording necessary entries in the SAP system.
 Monitor daily bank movements and prepare the cash position report and report to the management. Responsible for cash management operations which will include daily concentration of funds, disbursement, and short term investment portfolios.
 Negotiate on FX rates & bank charges to get waived / reduced. Closely monitors and analysis all the bank charges and interests rates on monthly basis.
 Implemented Online Corporate banking for all subsidiaries for better visibility and efficient control on group level liquid position.
 Implemented the cash strategy through placing the standing instructions for sweep transfers between collection to call account / OD to disbursement account for better use of cash and to increase the liquidity the company.
 Continuous develop and implement of the automated mechanism of Treasury Function to eliminate the process timeframe and improve the cash management and reduce the group finance cost.
 Work closely with accounting and finance heads on month closing related to loan accruals and treasury & financial transaction to record the entries in SAP and prepare the related schedules on monthly basis within its timeframe and always maintain D+1 deadline.
 Identifying discrepancies and assist in resolving the issues to avoid delays in accomplish the task. Any other tasks required by the Treasurer within finance and treasury operation.

 Coordinate and support in bank relationship & address and accelerate banks requirements in a timely manner to deepen the business relationship with the business partners.
 Develop, enhance and maintain the complete data base and documentation related to all treasury operations.
 Research variances and respond to inquiries from banks and independent consultants / auditors related to bank & treasury function;
 Recommend process improvements which result in increased efficiency & effectiveness of cash management practices. Ensure consistent application of cash management standards and policies

Key Responsibilities:
(i) Cash Management:
 Responsible for managing overall Group’s cash & ensuring best practices in cash management.
 Participate in developing financing strategies to suit the Group’s funding requirements.
 Plans and forecasts monthly cash flow and cash disbursements.
 Responsible for daily reporting of cash positions and month-end closing for Treasury / Banking related entries in SAP System.
 Follow-up and arrange to clear pending items in reconciliation with banks and solve problems that arise time to time in Trade Finance & Banking Operations.
 Oversee all day-to-day cash operations activities.
 Allocate funds for supplier payments and execute the L/Cs, LTRs, Guarantees, and Trade Bill Discounting.

(ii) Risk Management:
 Analyze the effect of interest rate and exchange rate moves and suggest the appropriate FX deals.
 Analyze the exposure of foreign currencies AP and AR to manage and create the FX Forward Deals.
 Evaluate bank services and Interest rates, monitor bank performance and make recommendations for savings or added new or better services.

(iii) Treasury Analysis & Reporting:
 Lead in reporting of Treasury daily liquidity position, weekly bank recon and collection forecast report, monthly cash flow forecast and variance analysis.
 Monitor and report the group loan portfolio and liquidity position.
 Handling the Vendor management, payment/Receipt.
 Regularly review bank charges & commissions and ensure the rates are in line with corporate / bank agreements.
 Prepare Treasury and Financial modules that are useful for senior management decision making.
 Review & summarize the comparison of facility agreements and report the facilities, interest rates, securities, for management decision.
 Handling month end reporting, bank accounts reconciliation, treasury module closing, payment & receipt, guarantee & L/C and other G/Ls.
 Managing internal/external Audit & compliance & reporting.
 Relationship with banks for corporate credit facilities, Including FX, analyzing fees and interest rate.
 Establish monthly provisions for O/D Interest, bank fees, Term Loans and Deposits.
 Prepare the monthly group interest allocation for the Intercompany borrowings.

(iv) Banking:
 Manage and coordinate bank accounts administration.
 Managing extensive banking relationship for the funding requirements of company.
 Managing the Hedging of forex deals for different BU requirements globally.
 Managing requirements of banks related funding documentation & also manage the renewal.
 Managing Trade products (L/C, LTR, Bill Discounting & BG).
 Responsible to manage short term investment, borrowing and O/D for working capital etc.

Highlights:
 Played a pivotal role in managing the bank facility of USD 180 million.
 Instrumental in declining the financial costs by 11% (interests, bank charges, commissions) through streamlining processes and negotiations with banks and financial institutions (GPS Group).

Key Responsibilities:

(i) Treasury:
 Prepare and Monitor cash position on a daily basis, allocating cash for operational needs and managing cash pooling across geographies.
 Maintaining a database of global bank account details.
 Liaising with banks for various transactions, verifying all fees, interest and commission charged in order to obtain the best rates at lowest risk in market.
 Manage and maintain banking relationships across the region to secure the most advantageous banking terms and facilities.
 Prepare Forecasts / Cash Flows Report along with proper supporting documents / calculations, and submit the same to CFO for review / comments.
 Ensure accurate and Monthly Performance review of all contracts against budget. Analyze actual and report variance to senior management.
 Organizing and Handling all Treasury Products such as LCs, Bank Guarantees, TRs, LBDs.
 Assisting in negotiate and obtain credit lines from bank and financial institutions in order to meet the funded and non funded requirements of the company and plan and implement the optimum utilization of funds.
 Monitor and track all covenants and agreements signed with banks and financial institutions in order to ensure compliance with all covenants and conditions.
 Organize the timely renewal of all facilities with banks, opening and closing of Bank Accounts and update & amend the signatory bank mandates.
 Monitor and control the contingent liabilities (Letters of Credit and Guarantee) in order to ensure that a proper record is maintained of all contingent liabilities with supplies.
 Plan and organize the effective utilization of all available existing facilities to ensure that they are utilized appropriately for short or long term purpose in accord with the plans.

(ii) Accounts Payable & InterCompany
 Supervising the Accounts Payable function is performed effectively in compliance with internal controls relating to Delegation Of Authority and verification of documents.
 Ensure adherence to contract terms and conditions with supplier / contractors / consultants, with the objective of protecting the company from financial risks.
 Review and verification of project expenses allocated budgets is done and any variances are highlighted to the Finance Head and Project Head.
 Ensure retention percentages and amounts payable from the contracted jobs are as per contract.
 Prepare reconciliation between the sub branches and the main office, any un-reconciled items are investigated and resolved.

(iii) Month- / Year-end accounting:
 Monitor that all accounting adjustments, such as prepaid expenses, advances, provisions, etc. are recorded timely and accurately, so that financial statements accurately reflect the true financial health of the company.
 Close supervision of all day to day and periodic Finance related process and reconciliations such as A/P, petty cash & bank, A/R and Payroll.

(iv) Audits:
 Ensure that reports / schedules for statutory and internal audits are prepared and provided to the auditors as and when required.

Lootah Group of Companies is one of the reputed and largest groups in U.A.E, having vast and diversified business around the Middle East and African Countries.


Inducted as Treasury and Financial Accountant and worked up the hierarchy to merit promotion to the position of Senior Accountant.

Designation Chronology:
 July 2007 - Sept 2008: Senior Accountant
 Mar 2006 - June 2007: Treasury and Financial Accountant

Key Responsibilities as Senior Accountant:
 Planned organized and evaluated all accounting procedures and policies to ensure transactions are efficient/ effective, accounting is accurate and complete.
 Analyzed general ledger accounts to determine their accuracy and ensure all funds are managed appropriately.
 Maintained and recorded all accounts receivable/ payable disbursements and posted them to appropriate ledgers to ascertain efficient record keeping and retention.
 Verification of LPOs, coding and posting of approved expenses in respective GL Accounts, cost centres and ensure approval as per DOA
 Monitors correct posting of data to accounts and verifies transactions where discrepancies in the transactions have been noted.
 Assist Finance Controller in the preparation of budgets and Cash Flow Forecast
 Substantiates and authenticates transactions by reviewing all supporting/justifying documents.
 Reviews, investigates, and corrects errors and inconsistencies in financial entries, documents, and reports
 Communicated with internal and external auditors for conducting periodic financial audits and operational purposes encompassing budget variance reports, follow-up and documentation of major variances to aid corrective actions.
 Liaised with IT engineers to create accounting modules to ensure transactions are efficient/ effective, accounting is accurate and complete in oracle accounting program.
 Verified and tracked incoming inventory including physical verification of warehouse stock and prepared periodical inventory reports for submittal to senior management.
 Drafted reconciliation statements of cash/bank accounts major AP/AR and G/L A/Cs to identify accounting discrepancies and provided periodic reports to the senior management.

Key Responsibilities :
• Monitored the accounting, financial and treasury functions with the aim to ease the work flow, protect the assets of the company and accelerate management decision.
• Handled all of the Company’s accounting operations including payables, receivables, monthly reconciliation and treasury operations.
• Drafted and analyzed monthly bank reconciliation and sister companies reconciliation in adherence to organizational policies and procedures.
• Directed the treasury operations including liquidity to maintain a strong financial position. Assessed risk associated with transactions.
• Examined and analyzed journal/ ledger entries, bank statements and other accounting records to ensure all funds are managed appropriately in compliance with established accounting standards, procedures and internal controls.
• Reconciled supplier’s ledger account balances. Verified and released all vendor payments in compliance with company procedures.
• Drafted and submitted LC, TR, and Guarantee documents and maintained record to support day to day operations of the department.
• Sustained relationships with the banks and stakeholders to ensure optimum utilization of banking facilities.
• Supervised the account balances of all the banks daily and allocated funds to determine their accuracy and ensured all funds are managed appropriately.
• Managed treasury ledger with various departments, reviewed financial transactions and posted them to appropriate ledgers in order to ascertain efficient record keeping and retention.
• Prepared and analyzed management information reports for the top management and joint venture partners and provided valuable inputs to the management.

Notronics Group of Companies is one of the leading importer and exporter of Printing Equipment and its Consumables, imports are mainly from European and American Countries and Exporting to Middle East, African and Asian Countries .

Key Responsibilities :
• Managed, devised and implemented all aspects of financial accounting activities including sister companies activities such as invoicing, payroll, collection of accounts receivable, management and payment of suppliers/contractors.
• Analyzed general ledger accounts to determine their accuracy and ensured all funds are in balance. Executed daily banking activities and supervised preparation of bank reconciliations enabling smooth finalization of accounts.
• Liaised extensively with bank authorities and auditors, submitted TR, LBD, remittance and ensured compliance with all regulatory bodies.
• Undertook various tasks such as posting to journal and ledger, accounts payable/receivable, generating P&L reports and Balance Sheet to guarantee accurate and complete records of each monetary transaction.
• Kept abreast of multiple LCs to ensure timely collection and accurate submission of documents against LC.
• Oversaw the preparation of all monthly, quarterly and year-end financial reports and submitted to the senior management to facilitate further decision making.

Previous Professional Experiences :
• Oct-2003 - Oct 2004, Accountant with Dubai Foot Wear Company Limited (JAFZA), Dubai. U.A.E.
• May 2002 - Sept 2003, Cost and Accounts Assistant with Shafeeque Shameel and Company, Madras, India.