Financial controller
Maharah Human resources company
Total years of experience :20 years, 1 Months
Review the financial management systems of the company and suggest specific changes required to improve performance and internal control mechanism.
▪ Direct the maintenance of accounting records, books of accounts, preparation of trial balance; verify rectification and adjustment entries and annual financial statements.
▪ Oversee AR maintain a healthy balance between cash inflows and cash outflows for a period to sustain the liquidity position of the company and revisit the credit policy in case of gaps in achieving the collections targets.
▪ Prepare a risk management framework to handle financial risks arising out of non-payment by customers, debtors, contingencies, business cycles, economic policy changes or global business changes.
▪ Review financial data / reports gathered from various companies in the Group; reconcile accounts to prepare consolidated reports and present company’s performance in financial terms to the management / company board.
▪ Confirm that accounting policies, practices, and procedures comply with the letter and the spirit of SOCPA and IFRS. Compare accounting policies with industry norms.
▪ To ensure budget process and reports completed & coordinate for preparation of the budget, financial forecasts and report variances.
▪ Ensure quality control over financial transactions and financial reporting
▪ Examined financial statements, profit & loss account and balance sheet prepared by the accounting team, verified accuracy and submitted financial reports to the senior management.
▪ Liaised with statutory auditors during annual financial audits and responded with concrete information on queries raised by the audit team; supervised preparation of interim accounts for internal audits.
▪ Handled statutory compliance, external audits and payment of Zakat as per rules;
Responsible for the finance function of the Group with particular focus on accomplishing targets, managing cash flows,
standardizing processes and maintaining company profits.
Designed the financial management policy and procedures of the company, set up systems and established internal controls in
the form of report generation and regular management reporting.
Designed and implemented computerized accounting & finance systems to ensure process adherence and early detection of
procedural / functional problems and human errors.
Key Responsibilities:
Review the financial management systems of the company and suggest specific changes required to improve performance and
internal control mechanism.
Direct the maintenance of accounting records, books of accounts, preparation of trial balance; verify rectification and adjustment
entries and annual financial statements.
Provide relevant information to the management to finalize capital investment and expansion plans.
Oversee AR and AP functions, maintain a healthy balance between cash inflows and cash outflows for a particular period to
sustain the liquidity position of the company and revisit the credit policy in case of gaps in achieving the collections targets.
Prepare a risk management framework to handle financial risks arising out of non-payment by customers, debtors,
contingencies, business cycles, economic policy changes or global business changes.
Identify operational areas that can be reorganized and implement innovative cost reduction projects in conjunction with
departmental managers and teams.
Review financial data / reports gathered from various companies in the Group; reconcile accounts to prepare consolidated
reports and present company’s performance in financial terms to the management / company board.
As member of the policy formulation and implementation team, participated in operational planning activity in line with overall
KPIs decided by the management for every function in the company.
Designed highly sensitive internal control measures to ensure that the minutest of process deviations are identified and reported
promptly.
Key Responsibilities:
Financial Management
Directed the accounting & finance team, supervised the maintenance of internal database and generated key performance reports
for submission during management review meetings.
Responsible for cash flow analysis, maintained a favorable liquidity position of the company and analyzed working capital
requirements to procure finance from approved sources.
Prepared cost sheets to evaluate expenses until final distribution of magazines, newspapers and other literature and strategized
sales & marketing and distribution activities to ensure optimum profits.
Supported the capital expenditure planning activity through provision of relevant financial information & analysis, fund flow
statements and communicated the depreciation fund available; suggested appropriate sources of finance for large capital outlays.
Responsible for allocation of financial resources based on the annual operating budget and departmental requirements.
Conducted project feasibility studies to assess profitability and viability of various sales, marketing and distribution projects
planned by the company, conducted cost-benefit analysis and recommended the most suitable options for actual project
implementation to ensure reduction of project overheads.
Accounting, Audit & Statutory Compliance
Examined financial statements, profit & loss account and balance sheet prepared by the accounting team, verified accuracy and
submitted financial reports to the senior management.
Liaised with statutory auditors during annual financial audits and responded with concrete information on queries raised by the
audit team; supervised preparation of interim accounts for internal audits.
Handled statutory compliance, external audits and payment of Zakat as per rules;
Supervised the activities of the accounting department, assigned daily / weekly / monthly tasks and directed the team to complete
activities as per schedule; oversaw maintenance of accounting records and documentary proofs for audit purposes.
Assisted in the preparation of the annual operating budget and functional budgets, monitored the implementation of the budget
and analyzed the causes in case of variance.
Responsible for the cash management function, prepared working capital forecasts, ascertained cash required for daily / monthly
operations and maintained sufficient liquidity to fund contingent expenses.
Supervised the preparation of subsidiary books of accounts (sales & sales returns, purchase & purchase returns) and completed
daily verification of entries against invoices generated for actual sales.
Calculated turnover ratios to ascertain operational performance, studied the cash conversion cycle and suggested process
changes, discussed changes required in policy, if any, and submitted reports for management approval.
Expedited collections for outstanding payment receivable from customers (as on given date) and implemented systematic
collections procedure for swift recovery of dues; recoded and reported chronic dues / non-payment to the senior management.
Responsible for the reconciliation and consolidation of inter-company accounts as per accounting standards; presented relevant
observations on company performance through such analysis.
Tasks handled: In-charge of ERP System Implementation: Scala ~ Prepared System Design ~ Defined rules based on business
requirements ~ Integrated operational processes with the new system ~ End-user training & system efficiency assessment
Maintained books of accounts, verified the accuracy of accounting records inputted by the data entry executive and ensured
adherence with standard accounting practices and processes.
Tracked accrued income and prepaid expenses and provided appropriate accounting treatment as per GAAP; prepared the trial
balance, consolidated branch-wise accounting information and finalized books of accounts for annual report preparation.
Processed vendor / supplier payments as per contractual terms & conditions and guaranteed availability of supplies & stationery
to ensure uninterrupted operations,
Exercised effective inventory control, monitored inventory levels and replenished stocks according to the purchase & inventory
management policy.
Liaised with bank personnel, prepared bank reconciliation statements, verified the deposits recorded in company’s bank
accounts against relevant transactions, operated the bank accounts as authorized company representative and facilitated
payments (Cheque issue, utility bills payment, remittance etc.).
Handled sales tax payment and filing for the company.
Tasks handled: Book-keeping & Accounting ~ Daily, monthly & quarterly closure of books of accounts ~ Sales accounting ~ AR
& AP management ~ Bank reconciliation statement preparation & record-keeping ~ Payroll administration ~ Inventory management
& accounting
CMA certificate
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