Group Chief Finance Officer
Israq Spinning Mills Limited
Total years of experience :19 years, 2 Months
I am accountable for the administrative, financial, and risk management operations of the company, to include the development of a financial and operational strategy, metrics tied to that strategy, and the ongoing development and monitoring of control systems designed to preserve company assets and report accurate financial results. Principal accountabilities are:
Planning
Assist in formulating the company's future direction and supporting tactical initiatives
Monitor and direct the implementation of strategic business plans
Develop financial and tax strategies
Manage the capital request and budgeting processes
Develop performance measures that support the company's strategic direction
Operations
Participate in key decisions as a member of the executive management team
Maintain in-depth relations with all members of the management team
Manage the accounting, human resources, investor relations, legal, tax, and treasury departments
Oversee the financial operations of subsidiary companies and foreign operations
Manage any third parties to which functions have been outsourced
Oversee the company's transaction processing systems
Implement operational best practices
Oversee employee benefit plans, with particular emphasis on maximizing a cost-effective benefits package
Supervise acquisition due diligence and negotiate acquisitions
Financial Information
Oversee the issuance of financial information
Personally review and approve all Form 8-K, 10-K, and 10-Q filings with the Securities and Exchange Commission
Report financial results to the board of directors
Risk Management
Understand and mitigate key elements of the company's risk profile
Monitor all open legal issues involving the company, and legal issues affecting the industry
Construct and monitor reliable control systems
Maintain appropriate insurance coverage
Ensure that the company complies with all legal and regulatory requirements
Ensure that record keeping meets the requirements of auditors and government agencies
Report risk issues to the audit committee of the board of directors
Maintain relations with external auditors and investigate their findings and recommendations
Funding
Monitor cash balances and cash forecasts
Arrange for debt and equity financing
Invest funds
Invest pension funds
Third Parties
Participate in conference calls with the investment community
Maintain banking relationships
Represent the company with investment bankers and investors
Department of Public Health Engineering under the Ministry of Local Government, Rural Development and Cooperatives (MLGRD&C), is the implementing Agency, with overall project provided by the Project Management Unit (PMU), headed by a project director. The PMU is mandated to manage the project in keeping with the borrower's obligation to use the project fund with due regard to economy and efficiency and only for the purpose for which project financing is provided.
The overall responsibility of the Sr. Financial Management Specialist, hereinafter referred to as the FMS, for Bangladesh Rural Water Supply and Sanitation Project is multifaceted. This will cover, but not be restricted to, ensuring proper implementation of financial activities at field level in selected rural areas, overseeing overall financial management related to procurement and contract management, preparing budget and tracking its judicious execution, advising project management authority on the various financial management related issues arising out of day to day implementation of the project and on the areas of rural piped-water supply planning and implementation and ensuring thorough documentation of all financial information pertaining to contracts and procurement related to subproject implementation. FMS will work under the guidance of the project director maintaining liaison with the consulting firm(s). The key functions are as follows:
1. Develop Financial Management Manual
2. Develop Chart of Accounts
3. Maintain Books of Accounts
4. Prepare Budget
5. Prepare Disbursement Plan
6. Support to Fund Management
7. Support for processing of payments
8. Establish Computerized Accounting Systems
9. Maintain Fixed Assets Records
10. Prepare Financial Statements and Reports for World Bank as well as Government of Bangladesh
11. Review financial analysis and tariff aspects of Rural Water Supply schemes
12. Interface with external and internal auditors
1. Preparing project budget and annual budgets in collaboration with the other two DPDs. Incorporating annual development targets (Physical and financial):
2. Initiating and assisting the PD in the selection of PMC. The key consulting package under the project.
3. Remain fully dedicated and committed to financial reform and other capacity development parameters of the project inclusive of PR and raising consumers’ awareness stipulated under the project.
4. Assist the PD in initiating and taking advanced actions on all required fronts.
5. Initiating and managing project fund-flow and assist the PD in the entire gamut of financial management aspects of the project.
6. Assisting PD in the performance evaluation of FMC and PMCs;
7. Assisting the PD in allocating funds to the PCUs at the four MOD zones;
8. Contribute to the preparation of the RFPs for the Financial Management Consultants and Project performance Monitoring System Consultants.
9. Coordinate with the other two DPDs regarding processing of payment claims and to see to their settlement;
10. Resolve and organize financing of tax, duties, insurance and other charges levied by GoB in respect of importable items under the project inclusive of contractors who would import such materials/equipment for project use;
11. Replenishment of project accounts including submission of bills for settlement to ADB, financial adjustments, etc.
12. Ensure appropriate deposit/transmittals of advanced tax, VAT and other chargeable from the vendors/contractors/consultants to GoB designated accounts like that of BB;
13. Facilitating auditing (both internal and FAPAD) and as well responding to ADB’s audit queries;
14. Initiate and see through the updating of the Procurement Plan each year for ADB approval;
15. Overseeing book of accounts maintained at the PMU;
16. Review and overseeing of financial capacity building undertakings organized and conducted by Financial Management Consultants;
Overall responsibilities of accounts and finance division of the group. Some Specific responsibilities are stated below:
1. Ensures implementation of operational strategies focusing on achievement of the following results:
• Full compliance of financial activities, financial recording/reporting system and audit follow up with company rules, regulations, policies and strategies; implementation of the effective internal control, proper design and functioning of the financial resources management system.
• Continuous analysis and monitoring of the financial situation, presentation of forecasts for development and management projects.
• Elaboration and implementation of cost saving and reduction strategies.
2. Finance Cluster/Service Coordination and Management:
Facilitate the day-to-day functioning of the Budget and manage the human and financial resources and deliver timely services. Prepare annual work plans and prepare database on indicators to measure performance and delivery of services. Prepare weekly, monthly and quarterly progress reports and organize, correspondingly, monthly and quarterly progress reviews. Support the management to organize dialogue on finance management tools and processes. Coordinate the distribution of responsibilities amongst team members and organize monitoring and tracking system of all cluster services.
3. Budget Management and cost recovery:
Financial resources management through planning, guiding, controlling of the resources.
Establishment of the management projects' budgets preparation/modification, monitoring system, control of budgetary status versus authorized spending limits and budgets delivery levels.
Elaboration of proper mechanisms to eliminate deficiencies in budget management.
4. Ensures proper control of group accounts focusing on achievement of organization’s goals.
5. Ensures proper working capital management.
Position Held : Deputy General Manager \{F & A)
Name of Organization : A Group of Industries.
Reporting to : Deputy Managing Director as well as Managing Director
Responsibility:
Ø To maintain computerized Accounts & prepare accounts for the top management.Ø To be responsible for costing of the various products of the group.Ø To analysis budget and budgetary control of the Company. Ø To assist the management in order to take decision in product planning, manufacturing and forecasting of yearly budget.Ø To prepare project profile, project concept paper to determine financial viability of the project and project monitoring and evaluation.Ø To maintain liaison with various banks and other financing institution.Ø To maintain liaison with various department in order to prepare monthly accounts in time.Ø To prepare monthly profit and loss accounts and to submit the same to the top management.Ø To monitor the work of all departmental staff and get the work in time.Ø To maintain effective measures in order to streamline the production to increase the production output significantly.Ø To prepare comparative analytical report and recommendation to maintain cost savings in all respect.Ø To maintain proper & auditable documents and submit regular/periodical reports to the top management.
Position Held : Finance ManagerName of Organization : Social Development Foundation (SDF) under Ministry of Finance.Reporting to : General Manager (Finance & Administration)Responsibility : Participate in planning, programming, budgeting, and accounting functions. Ø Responsible for overall supervision of financial and accounting functions of finance department.Ø Assist General Manager, Finance and Administration in formulating financial and accounting rules and regulations.Ø Ensure proper maintenance of books and records in accordance with the donor requirement, GOB established rules, companies Act and other Accounting standards.Ø Ensure that all financial reporting are received from sub-project level and are disbursed or financial obligations are liquidated.Ø Supports the General Manager, Finance and Administration in annual budget formulation and periodic budget and accounts reviews.Ø Ensuring compliance with SDF's regulations, internal control, quality Control, risk management and work flow procedures with regard to following key areas: travel bills; consultant invoices; contracts and invoices for office equipment and supplies; purchase order monitoring; asset management and inventory records, staff benefit claims, medical claims, travel and leave; and petty cash.Ø Exercises independent judgment and takes primary accountability for the section's functions;Ø Ensure that the deduction of Income Tax and Value Added Tax are made as per Government Rule and deposited accordingly.
to conduct Cost and Management Audit, Performance Audit, to make reports of Cost and Management Audit, Financial Consultancy, Investment Analysis, SWOT analysis, Project Monitoring and Evaluation etc.
Full Responsibility of Accounts and Finance
Position : Finance Assistant (Head of Finance).Name of Organization : UNDP (United Nations Development Programme) Aided Project under Department of Environment.Reporting to : National Project Director.Responsibility: Ø Be responsible for all administrative and financial requirements of the project;Ø Assist in establishment of a financial and reporting system for the Project Manager;Ø Liaison with UNDP financial personnel in Dhaka;Ø Ensure timely receipt and disbursement of all funds;Ø Ensure the UNDP supplied equipment and supplies are procured and delivered to the project in an effective manner;Ø Ensure that quarterly request for funds to UNDP are made timely and that funds are forwarded to the co-implementing agencies timely;Ø Provide an internal monitoring function regarding expenditure and accounting procedures;Ø Prepare and finalize all financial reports for submission to all concern.
CGPA 3.62 out of 4
I achieved Fellowship (FCMA) from Institute of Cost and Management Accountants of Bangladesh (ICMAB) in 2000.
Second Class 55% marks achieved
Second Class 48.2% marks achieved
Second Division 56.2% Marks Achieved
Second Division 56.5% marks achieved