EH Finance & Reporting Transition Manager
Weatherford - United Arab Emirates
مجموع سنوات الخبرة :18 years, 5 أشهر
Achievements & Roles
• Successfully cleansed UAE balance sheet, analyzed issues, identified control deviations, exposures and excess accruals and helped country in redesigning and implementing processes of custom duty and rental deposits, Prepayments, VAT, AR Netting etc.
• Reconciled & resolved differences between VAT returns & book values and cleared $400k.
• Balance sheet exposures report, collecting data, analysis of potential exposures, working with countries to make necessary provisions, reporting to Corp.
• Transitioned finance & reporting activities for around 40+ countries under Eastern Hemisphere (APAC, MENA, Europe, Africa, Russia), to shared service delivery centers located in Budapest-Hungary, Bangalore-India, Nagpur-India, Hangzhou-China & Manila-Philippines. Handled headcount reduction and worked with countries to meet cost cutting requirements in line with business case of project.
• Ensured implementation and adherence of company policies across Eastern Hemisphere countries, being part of Internal Control team.
• Reviewed segregation of balances for Old & New Co, as per requirement of Fresh Start Accounting, adopted in line of Chapter 11, US Bankruptcy.
• Managed all tasks associated with initiating, planning, scheduling, executing, controlling of transition of Finance for Eastern Hemisphere countries.
• Acted as bridge between Countries and Service Centre team for necessary support required during transition and post go-live and effectively handled project communication to all stakeholders and ensured risks & impact are identified and addressed to respective authorities.
Achievements & Roles
• Partnered with operations, discussing and finalizing commercial tender submissions by reviewing cash flow, profitability, ROI, IRR, inflation, cost of capital.
• Tracked MPD project wise performance using a self-designed model for revenue & cost, comparison with budget, analysis and commentary for variances and worked with MPD project team for identification of areas for enhancing profits.
• Built monthly financial book including Balance sheet, P&L, Variance Analysis, Trends & Forecast, Head Count, Inventory Turnover, DSO, DSI for BOD and Management to review financial reports.
• Improved country wise & project-wise budget, forecast, P&L reports and variance analysis process by working with countries and project teams and prepared corresponding Inter Company budget and forecast.
• Designed mechanism for capturing average monthly logistic cost of $2m for reflecting in correct country’s monthly P&L with accurate product line.
• Slashed freight cost by 10% by negotiating pricing with vendors, while ensuring the continuation and enhancements of services.
• Closed 2014, 2015 & 2016 External audits for Dubai branches of Swiss entities, by working in close collaboration with Swiss HQ, Swiss external auditors and local external auditors.
• Managed & planned working capital based on allocated funds. Prepared Cash flow forecast, collections and disbursements.
• Oversaw year-end and month-end close process
• Participated in budgeting & forecasting, country-wise & project-wise P&L reports including variance analysis.
• Managed all accounting operations on a day to day basis including Customer Billing, Account Receivable, Accounts Payables, GL, Inventory and Fixed Asset and Revenue Recognition.
• Coordinated for necessary information to Sales & Tendering team requires for bidding the contracts.
Achievements & Roles
• Provided necessary support to respective product line managers to pursue their responsibility towards contacts and/or to make proper decisions in line with the Operational Plan. Analyzed financial details of past, present, and expected operations to identify development opportunities and areas where improvement is required.
• Travelled multiple locations for balance sheet cleanup projects, providing necessary trainings to country staff and transitioning of finance & accounting work to outsourcing locations like United States, United Kingdom, Egypt, Singapore, Philippines, Gabon, Qatar etc.
• Facilitated Global teams in setting up accounting configuration in JD Edwards for legal entities setup in Dubai as branches with HQ in Switzerland and shared cost structure.
• Worked with Global team for implementation of Intercompany margin elimination policy for Assets & Inventory for WFT Products GmbH, Dubai Br. required as per Transfer Pricing.
• Handled Accounting & Reporting of 3 Dubai branch of Swiss entities, reviewed performance with management and implemented action plans to meet entities objectives.
• Executed and supported multiple projects at different time’s e.g. Legal entity reduction, closure of non-profitable product lines, decentralization of work etc.
• Developed Accounts Payable sub policy and process for good received not processed in system against invoice resulting in monetary benefit for product lines.
• Superintend Inter Company and Accounts Payable functions across Middle East & Africa Region.
Achievements & Roles
• Decentralized Intercompany (related party) function across 9 different countries of Middle East and trained local country staff.
• Proactively participated in team along with treasury, tax & transfer pricing members for repatriation of funds from Middle East, North Africa, Sub-Sahara Africa through Intercompany balances having minimal tax and foreign exchange impact.
• Supervised Inter Co function across MENA region for day to day activities, month-end and year-end close.
• Created several prototypes in Showcase, HFM Smart View and other related software to extract information to ease processes and time banking.
• Led Hyperion implementation for Intercompany department and JD Edwards AP Module across MENA region.
• Headed a 7 member team accountable for centralized IC department of MENA region.
• Working as vouching supervisor ensured booking of all invoices of ME region on deadline adhering all company policies
• Reconciled and monitored GL accounts used for conversion of balance from old system to JD Edwards.
Working for a US based Accounting Consultancy firm, for preparation of financial statements, payroll, tax returns and other related reports using Quick Books, Easy Accounting)
Responsible for preparation of Control Ledger along with other GL ledgers. Also responsible for accounting of 4 subsidiaries and preparation of MIS reports.
Worked with a reputable Audit firm as an Audit Assistant and was responsible for coordinating with the seniors as per Audit program.
UAE CA
ACCA