Head of Accounting & Finance
MMEC MANNESMANN GMBH
Total years of experience :15 years, 9 Months
My key responsibilities were:
• Business partnering with relevant managers within the company to provide financial support and information. Liaising with and reporting to HQ Germany.
• Controlling of revenues and costs recognition in accordance with IFRS and local legislation.
• Overseeing preparation of the management accounts pack, inclusive of the monthly P&L and balance sheet.
• Successfully Setup Finance team and ERP Accounting Tool reducing the cost and ensuring highest standards are set.
• Completed 2 weeks training included reporting and month end process.
• Improving cash flow planning, achieved variance reduction to 1-3%
• In depth knowledge of ICV and successfully completed the certification for 2017.
• Managing a consortium of Bankers for fund and non-fund-based facilities, ensuring various banking compliance requirements. Monitoring the inflow/ outflow of funds; taking adequate measures to ensure optimum utilization of available funds.
• Conducting Internal and Statutory Audits; evaluating internal control systems to highlight shortcomings & implement corrective actions.
• Reducing the workload (30%), by introducing improved systems (HR, Finance and Accounting).
• Effectively managed payroll team and trained for maximum output by introducing a set of reporting process included excel and cloud-based payroll tool.
• Facilitating smooth implementation of VAT and ensuring accurate refunds are submitted.
• Establishing strategic Cash/ Cost Management Systems for monitoring various overheads and achieving maximum cost control in project execution
My key responsibilities were:
• Designed and implemented budget, P&L, cash flow and forecast platforms and financial tools.
• Responsible for overall profitability of operations and accountable for strategic utilization, developing the SOP’s and deployment of available resources to achieve organizational objectives.
• Slashed payroll/benefits administration costs 30% by negotiating pricing and fees, while ensuring the continuation and enhancements of services.
• Coordinate with other managers to provide consultative support to planning initiatives through financial analysis, reports and recommendations.
• Created intercompany procedures for company’s Payments, including 3 levels of approvals and support documents.
• Liaised with customers and banks for framing payment terms and securing credit through factoring arrangements.
• Successfully implemented Cash flow and petty cash expense tool to ensure liquidity for company’s payments.
• Managed and delivered monthly, quarterly and annually financial statements closing within mandated timelines reflecting the financial impact of all significant events and business transactions, in compliance with accounting policies.
• Developed a system for Consolidating subsidiaries and preparing reports.
• Successfully reducing the AR levels (Overdue level from 49% to 20%).
• Developed the annual budget and worked closely with all departments to ensure that numbers were within the budget, identified and analyzed cases of overspending and under performing.
• Prepared and conducted reviews of variance, cash flow, and KPI reports.
• Managed and trained my team on multiple projects and effectively reduced transportation and storage cost from 41% to 11%.
• Implemented HR Management tool with 3 step approval setups and successfully reduced admin and visa cost.
• Projects Managed: MEFCC 2014, 15, 16, 17 Anime 2016, SIKKA Arts, GAMES ME 2015, AL Majaz Superheroes 2015, OKTOBERFEST 2016.
• Management accounts (weekly cash flow statements, monthly margin reports & quarterly performance reports).
• Maintenance of accounts receivable & payables, payroll.
• Carrying out administrative duties and ensuring Managing director and relevant people have all sufficient financial information in order to implement business decisions.
• Supervise & coordinate company’s petty cash activities.
• Experienced in preparation of monthly Bank Reconciliation statement.
• Experienced in controlling Debtors & Creditors outstanding list and reporting to Management.
• Well versed in preparation of department wise Monthly Collection Report.
• Expertise in dealing with banks for issue of Letters of Credit and Bank Guarantee and other various issues.
• Expertise in Preparation of monthly schedules.
• Supervising and coordinating subordinates to ensure in smooth accounting.
• Handling Self-Correspondence with all Business Clients, Suppliers and Banks.
• Enhanced the credibility of finance function by generating accurate and timely MIS Reports.
• Diplomatic and Excellent in Public Relation and Office Administration
Logistics Experience:
• Procedure and Processing of Letters of Credit.
(Imports and Exports/Local and Overseas/Incoming and Outgoing).
• Corresponding with Suppliers and/or Banks for Amendment of L/C.
• Liaison with Freight Forwarders, Shipping Companies, Ports and Other Local Authorities.
• Familiar in Customs Clearance.
• Procedure and Processing of Documents for Imports.
• Storing and checking monthly payable activities while ensuring that billing, collection and reporting has been properly booked and processed.
• Maintenance of basic books and ledgers.
• Preparing the final invoices and send to customers on daily basis.
• Maintain strong working relationships with members of the team, other internal contacts and third party suppliers
• Prepare monthly high level commentary on financial reports for senior management along with ongoing development of management information to assist Management’s understanding of the results and highlighting key items/issues.
• Review and confirm payroll related calculations including national insurance, deductions, staff benefits etc.
• Journal Entries including maintenance of recurring journal entries and allocations.
• Coordinate the monthly book close.
• Ensured timely and accurate retail financial statements.
• Calculated monthly expense cut-off; reconciled prepaid and accrued expense accounts.
Completed my Four year Hon's degree in Finance. Major in Finance and Business Management.
Completed one year program in Advance Business Administration. Major in Hr and Management Business.
Passed 9 papers in less than year of Certified Accounting Technician (CAT) leading. Major in Finance,accounts, management,taxation and law.