Director Of Financial Affairs - HQ
Arab Open University
Total years of experience :33 years, 8 Months
• Analyze complex financial data and extract and define relevant information; interpret data for the purpose of determining past financial performance and to project a financial probability.
• Oversee the development of unrestricted funds budgets, research grants and contracts, revenues, and gift accounts. Analyze budget patterns and projects expenditures.
• Oversee the preparation of working papers and approved budgets; ensure that expenditures for budgets, and grants and contracts are monitored and that reports are prepared to maintain balanced accounts.
• Develop management, narrative, and statistical reports for private and government donors.
• Develop and oversee the maintenance of budget monitoring systems.
• Develop complex financial reports for forecasting, trending, and results analysis.
• Monitor, identify, and communicate over expenditures to faculty and administrative staff and resolve funding shortfalls.
• Oversee the receipt of payments from sponsors and participate in the development of payment schedules.
• Review budget justification to ensure it relates to budgeted guide line.
• Confirm that anticipated promotions and other increases are calculated into the cost of project.
• Ensure compliance with all relevant university and agency regulations and restrictions.
• Use appropriate cost rates, such as indirect and benefit rates for proposed budgets.
• Confer with appropriate internal and external administrative offices to ensure that required procedures are followed.
• Provide instruction and answer questions relating to budget procedures and serve as liaison between the business office and unit areas.
• Identify budget issues, provides alternative solutions, and resolves problems.
• Management of the overall Financial functions of the university that include the different key areas of relevant specializations, Financial Accounting, Cost Accounting, Loans and Investment Management, Planning, Budgeting, Financial Analysis, and Performance Measurement
• Maintains the general ledger and all related accounts with proper documentation and records of all University transactions; reviews entries to the general and subsidiary ledgers to assure accuracy and compliance with the company’s and established accounting principles; controls all changes to chart of accounts. Responsible for monthly and year end closing of the general ledger including preparation of journal entries.
• Administers preparation of interim, year-end and comparative financial reports; performs and provides analysis of current results to prior periods and/or budget. Prepares required government reports as directed by AOU Rector and responds to inquiries as necessary.
.accounting systems and recommends new or revised policies and procedures.
• Prepares monthly bank reconciliation for all accounts; verifies accuracy of bank statements and resolve questions or problems; maintains integrity of cash balance and cash flow system.
• Maintains fixed asset records and control; determines depreciation terms/rates to apply to capitalized items; prepares property tax returns for review by controller.
• Year end audit and preparation of schedules and documents for independent auditors.
• Maintain other accounts and performs other accounting duties as required or as requested by the AOU Rector
• Implementation of Oracle Financial 11i and R12 in All Branches and HQ .
• Ad hoc reports required by the university rector and Board of Trustee
• Dealing with the internal and external auditor ( BDO, PWC, EY and Deloitte ) over 15 years .
• Handling AOU short, and Long term Investments
• Report Budget Vs Actual in Quarterly Basis for all the branches and head quarter
• Member and shearing on one of the biggest committee on the University for Course pricing and costing, and another committee for improvement of the AOU financial status.
Senior Accountant
1. Responsible for all accounting and financial information for the hospital Financial activities.
2. Performed monthly, quarterly, and annual reconciliations and audit work papers, footnotes, and schedules as requested.
3. Reviewed, advised, and implemented modifications to accounting systems to maximize productivity, reporting and internal controls.
4. Provided training in the use of the hospital computerized financial system and assisted departmental personnel with budget questions, proper expenditure coding, document processing and other accounting related activities.
5. Performed fiscal year-end and fixed asset accounting as well as annual and mid-year budgets.
6. Performed monthly close processes to increase accuracy of recording financial transactions and analyzing results in a timely manner.
7. Performed variance analysis, labor efficiency, labor and hospital spend analysis, cost estimates, budgets, standard updates, journal entries and account reconciliations.
Accountant
1. Prepared journal entries and reconciles general ledger and subsidiary accounts;
2. Prepared monthly financial statements, including distributing monthly revenue and expenditure reports to departments.
3. Analyzed and reconciled expenditure and revenue accounts, including trustee accounts and investment reports.
4. Make wire transfers and journal funding transfers and reconciled monthly bank statements.
5. Monitored grant revenues and expenditures, ensured data is recorded in the financial accounting system.
6. Calculated and prepared reimbursement billings and tracks receivables; reconciled monthly accounts receivable.
7. Prepared audit schedules for internal and external auditors and acted as a liaison between the hospital and auditors.
8. Prepared and filed annual financial statements for the hospital, Redevelopment Agency and Public Financing Authority.
9. Assisted with the preparation of the annual and mid-year budgets.