CFO
Confidential
Total years of experience :28 years, 9 Months
Privately held firm that develops software and solutions for exploration & production of oil & gas • Aligned with Landmark Graphics (Halliburton)
Chief Financial Officer
Joined the company while it was small and immediately scaled up the finance function to handle explosive growth - a 3X increase in company size, within 3 years, across 70 countries and 4 regional offices - that was triggered by a global contract from Landmark Graphics Corp (Halliburton). Currently engaged in every aspect of the business including finance, sales channel operations, legal, IT, licensing, and HR. Comply with multiple trade and legal jurisdictions.
• Background: Landmark contracted LMKR to reinvigorate Geographix - its flagship product - which was not growing. LMKR jump-started the product via new product development, R&D, and aggressive marketing.
• Actions: Set up new entities in Canada, UK, and Kuala Lumpur - all compliant with local legal and taxation rules. Planned everything on financial side that was needed to ensure profitability: funding for new development, business plans, external (PE) financing, and licensing.
Implemented ERP system - MS Dynamics AX - starting from scratch, and totally integrated with CRM. Also implemented license cutting and IP-compliance tools (Flexnet and Blue Marble).
• Results: Re-negotiated multi-year, multi-million dollar contracts with Landmark that paved the way for LMKR’s explosive growth. Scaled up a continually expanding finance function - based on unique outsourcing model - that supports customers 24/7 base. Set up a channel partners program for highly effective market coverage.
Largest property developer in Gulf area (HQ in UAE) • Diverse holdings in education, healthcare, retail & hospitality • 10K emp & $3B revenue.
Director of Finance for Pakistan Group | Emaar Giga Karachi, DHA Islamabad Ltd & Emaar Lahore Ltd
Managed all accounting, finance, personnel, and computer systems for 3 entities - $300 million in assets - with $3 billion projects under development in Pakistan. Led financial aspects of master planning, infrastructure and utilities, and construction. Drove ERP & BPM and established a business development function for new projects in Pakistan.
• Quickly achieved Emaar’s top priority when first hired: paid off RBS and arranged new financing for projects. Adapted to 3 different roles during the 2008-2010 meltdown, a difficult period time for finance and real estate: Started as Financial Controller, promoted to Senior Manger BD, and later promoted to Director of Finance.
• Promoted by corporate HQ in Dubai to straighten out problems with wrong pricing, financial losses, and unprofitable projects. Accomplished a mandate to build and lead a new business development function. Completely reorganized accounting department - set higher performance standards and hiring qualifications.
• Negotiated over $150 million in new loans and managed existing credit facilities under difficult economic conditions of the post-2008 financial meltdown. Proposed development of several new product lines.
• Devised new procedure that accurately captured real costs and improved accuracy in business plans and margin analyses. Managed monthly reporting, budgeting, strategic plan financials
Launched a new accounting firm by leveraging two career assets: exceptionally good reputation among peers in Pakistan’s accounting profession, and deep expertise in the selection and implementation of financial ERP systems. Advised clients on automation (ERP) and providing, provided accounting-outsourcing several major clients.
• Quickly built a list of 30 “A” clients for accounting and outsourcing. Built a team of 20 audit, accounting, and financial IT professionals. Signed a major contract with Sigma Tech, a local ERP company. Implemented systems for clients such as Paklite Industries; Noon International; textile techniques; and Punjab Cotton Mills.
• Advised clients on business, internal control, taxation and related issues. Developed ERP Implementation & Accounting Outsourcing Business. Advised clients on ERP solutions.
• Acted as Consultant and interim CFO for sugar business of Colony Group (September 2007-March 2008: Managed acquisition of two sugar plants and a distillery worth more than 3 billion of assets.
Hired to manage financial aspects - and raise bank funding - for Amjad’s new factory, a spinning mill that complemented the existing weaving mill. Immediately negotiated better terms with 5 banks, and achieved 100% financing instead of “60/40” terms. Increased separate lending facilities by nearly 4X - from $15M to over $80M - based on internal restructuring of debt and persuasive presentation to the banks.
As Senior Finance and Administration Controller, Successfully completed a difficult contract assignment - very high-risk and high-reward - in a dangerous area of the world. Managed the core finance functions.
ESBI Contracting Limited (A MNC engaged as an Operation & Maintenance Contractor at Uch & Rousch Power Plants)
Ensured compliance with O & M Contract relating to Finance & Procurement.
Implemented & strengthened systems, facilitating timely preparation of Financial Reports for O & M Accounts as well as ESBI
Preparation of Budgets, Cash Flow Forecasts and Cash Calls/Funding Requests for Uch as well as ESBI Dublin
Firmed up the Budget monitoring system
Designed and Implemented Policies/Procedures to Strengthen the Internal Control Systems,
Tax Compliance
Monthly Reporting to Uch, Dublin Office & Functional Heads
Fund Management including management of Offshore Accounts
Liaison with Internal & External Auditors of Uch as well as ESBI.
Firmed up the costing system ensuring compatibility with Inventory Management software & budgets, Coordinated with Rouch site for Corporate issues
Administration
Supervision & Management of all affairs relating to Office as well as colony administration
Liaison with local administration and Supervision of Security and other related Issues,
HR/Personal Management
Recruitment, Personnel Management, Staff Training Arrangements, Maintenance of Employee Records, Dealing with other Govt. Agencies like EOBI, Social Security etc
Procurement & Warehousing
Smooth functioning of Procurement & Warehousing activities to procure spares & services in an efficient, effective and orderly manner,
To ensure compliance with procurement budgets and obtain necessary budgetary approval for exceptions.
Supervision and monitoring of supplier/contractor Prequalification/selection
Supervision of supplier quotation evaluation process (including negotiation),
Authorization for Purchase Order & contracts,
Haleeb Foods Limited (One of the largest food FMCG company in Pakistan with an annual turnover of $100 million: Headed the finance function, deeply engaged in re-engineering of business and operational processes. Selected as key member of System Review Team, which cut operational and financial risks.
• Arranged for short- and long-term financing, despite limited availability of Islamic-compliant financing modes.
• Headed a major ERP and MRP implementation project, starting from scratch. Acquired expertise in financial IT systems including: GL, AP, AR fixed asset management, cash flow forecasting, sales order/invoicing, stock control, purchasing, master planning, and MRP. Initially implemented SCALA system (“small SAP).
Reporting to Group GM Finance & Responsibilities include:
Fund Management, Preparation of Projected Cash Flows & Month end review, Monitoring & Control of Accounts Receivables, Maintenance of Bank Balances, Supervision of payroll of top management & HO, Coordination with Tax Manager for tax timely tax payments (direct & indirect taxes), Dealing with Financial Institutions regarding New as well as existing facilities, Supervision of imports Capital & Revenue, Management of forex payments like Royalty, Technical fees etc. Coordination for Annual Budget & revisions
Management Reporting including Collection Report, Cash flow statements, Capex Status, etc Repayment Schedules & other working for various financing options. Reports on comparative analysis of various financing options, Dealings with Insurance companies regarding claims, new policies, changes in policies etc. Review & Reporting of Annual Insurance cover adequacy, Financial Analysis of Annual Reports, Product & Project Feasibility, Product Costing etc.
Controlling & Accounting Functions
Financial monitoring of on going Capital Projects
Started as apprentice in Pakistan’s most prestigious public accounting firm. Quickly advanced through auditing ranks to Audit Manager, led 15-person team, introduced latest practices, and continually improved quality.
Responsibilities as Manager Audit include:
Audit planning covering preparation of Audit Approach Plan based on Knowledge of the business of the relevant client, past experience, results of analytical review of initial Financial Statements received from client.
Liaison with clients & audit staff regarding audit procedures (nature, timing & extent), ensuring that all material information considered necessary to form an opinion is obtained with the minimum disruptions to the client operations & responding to client requests & commitments, clearly & succinctly communicating information to clients.
Allocation of adequately skilled audit staff for various jobs depending on the nature of the job & experience of the staff members, ensuring that proper guidance & clear instructions are passed on to & understood by the Job In-charge & other supporting staff, effectively delegating tasks, sharing information & resources with others & developing a co-operative relationship with other team members.
Review of audit work carried out by the audit teams using both analytical & conventional techniques, Preparation of Summary Review Memorandum & Executive summaries of the audit work carried out for senior manager & principal drawing sound conclusions & making recommendations.
During Articles worked in different capacities.
Acting Manager Audit Nov’97 to May’99
Responsibilities as an Acting Manager were same as above
Job In-charge Statutory Audit Dec’95-Oct’97
Duties involved planning of the relevant audit, defining key/risky areas requiring special attention, analytical reviews during the audit; assigning jobs to supportive staff, review of work carried out by them, ensuring completion of job within the budgeted time.
Preparation of draft Audit Memorandum & Management Representation Letter, finalization of the audit & report thereof after getting the work reviewed by the senior management.
Internal Audit:
July95 -Aug96 Largest Distribution network with 23 branches all over Pakistan.
Jan-97-Jun97 Carried out various jobs like Price Audit, Internal Control Design & Implementation, Inventory Control, Internal Audit.
Bookkeeping & Accounts:
Involved in Preparation of Financial Statements of various clients, over all Supervision of Book keeping Assignments & Analytical Reviews for Reporting Purposes as job in-charge & Acting Manager Audit.
Management Consultation:
* Feasibility Studies
* Project Appraisal including Other Related Financial Services
* Arrangement of Lease Facilities
* Cost control & monitoring system designing & implementation.
* Designing & implementation of budgeting system facilitating over-all, monthly & department-wise budget preparation & analysis thereof with the actual results.
*Merger Proposal of Three Companies Including two Listed on Stock exchange. Financial analysis of last three years’ financial statements, projected consolidated financial statements & preparation of proposed merger scheme.
Clientele Industries
* Manufacturing * Power * Food * Trading * Construction * Service * Pharmaceuticals* Insurance * Educational Institutions * Co-operative Societies * Provident Funds * Welfare Societies * Financial Institutions
Chartered Accountancy is a Professional Qulification.
Public Finance Accountant - Pakistan Institute of Public Finance Accountants (PIPFA) - professional Qualification
CGPA 3
Bachelor Of Commerce