Finance Manager
Al-Naba Contracting Co. Ltd
Total years of experience :19 years, 6 Months
Main Areas: Contracting, Construction, Industrial maintenance, Concrete Products Manufacturing, Materials Trading, Real Estate
Key Responsibilities:
•Spearheading the Finance Department and ensuring policies & procedures are in alignment with the strategic objectives of the company; key areas of focus include accounting, payroll, treasury, banking facilities, insurance, audit, budgeting, financial planning, and MIS.
•Collaborating with department heads and preparing the Annual Budget; and highlighting significant deviations from the budget and investigating reasons behind these variances prior to escalating the matter to Management Committee.
•Developing cordial working relations with Banks and Financial Institutions for financial and operational flexibility in Asset Financing, Project Financing, LG, LC and Discounting.
•Keeping close tabs on Accounts Receivable and Accounts Payable and assuring that these are within budgeted limits and coordinating with Business Development and Procurement personnel to reduce the cash conversion cycle to free up funds for CAPEX and OPEX.
•Covering key Financial and Business Risks through Insurance and negotiating favorable terms of service and coverage with Multiple Insurance Companies encompassing all Assets.
•Maintaining cordial working relations with Vendors for competitive quotes along with extension in credit facilities as and when required and for support in emergency situations.
•Providing requisite information to Audit and Zakat / Tax Administrators and addressing their concerns in a satisfactory manner.
•Aligning the compensation system with business strategy, organization structure and systems and developing incentives and profit-sharing plans for Project Managers, Project Management Teams and Support Services to encourage them to put in their best efforts.
•Performing feasibility studies for CAPEX projects and sharing details regarding cost incurred till date and remaining cost with Management Committee for all projects in progress along with details of any additional funding that may be required.
•Assuring that the ERP System provides required information in a timely manner to support effective decision making and encouraging IT personnel to remain in sync with cutting-edge technology as a source of competitive advantage for the company.
•Establishing KPI’s for evaluating performance of multiple departments in an objective manner and developing training & development plans to enhance the skill sets of employees to make them more productive for the company.
Concurrent Auditor: The Jammu & Kashmir Bank Limited (a leading private sector bank in India)
