Finance Manager
Unified Hospitality Company
Total years of experience :18 years, 0 Months
• Formulate and implement financial policy and procedures
• Feasibility studies for new projects
• Preparing long term projections for funding requirements
• ERP (Microsoft Dynamics 365) restructuring for reliable reporting
• Ensure compliance with IFRS, local corporate and taxation
• Making Capital Calls from JV partners
• Determining and driving the business organizational strategies
• Aliasing with the bank for loan drawdowns
• Attending board meetings
• Managing & dealing with joint venturers & franchisers
• Reviewing monthly payroll and severance pay calculations
• KPI Presentations to the CEO & Shareholders
• Dealing with banks and vendors for guarantees
• Guiding & signing off on Audits
• Monthly financial statements review & discussion with The CEO & shareholders
• Review & monitoring monthly & quarterly budgets
• Strategizing & managing cashflows for long term financial viability
• Designing of Authority Matrixes for finance
• Dealing with banks for monetary policies such as interest rates
• Arranging property insurance
• Training and mentoring new employees
• Dealing with directors of other departments for their daily support & requirements from finance
• Prepare annual budget and coordinate with top management for budget and forecast activities.
• VAT return, review and submit to Zakat and Tax department. Payment of VAT net liability.
• Implementation of Oracle Fusion and complete migration from Oracle EBS R12.
IFRS Implementation Focal Person:
1. To establish effective communication channel with IFRS consultant firm.
2. Review and control transmission of info/documents to consultant.
3. Identify Action Events requiring IFRS compliance.
4. Review of current business practice Vs IFRS allowed/ recommended treatment to identify and implement changes for compliance to IFRS.
5. Hold awareness sessions and training of staff.
• Gathering and financial analysis of group companies monthly financial statements and prepare consolidated financial statements for local and foreign subsidiaries and joint ventures (JVs).
• Updating and review of Investments and income from Subsidiaries.
• Back charging (Allocation of) Holding costs on group companies.
• Oversee accurate and timely submission of management reports and financial statements of Holding company.
• Ensures that the appropriate accounting control procedures are applied.
• Ensures accurate and timely monthly, quarterly and year end reporting.
• Analyze and advise on business operations including revenue and expenditure trends, financial commitments and future revenues.
• Analyzes financial information to recommend or develop efficient use of resources, and provides input to strategic decisions.
• Support the BU/JV in understanding its costs of goods and services, and margins.
• Supervise the proper updating of the chart of accounts and the list of analytical accounts, transfer charges and cost accounting definitions necessary to perform the controlling missions.
• Ensure financial records are maintained in compliance with accepted policies and procedures, thus ensuring accurate and appropriate recording and analysis of revenues and expenses.
• Resolve accounting discrepancies and irregularities.
• Ensure the timeliness, accuracy and quality of all financial reporting.
• Monitor and support VAT, Zakat and Taxation issues.
• Support auditors in the financial audit preparation and coordinate the audit process.
• Lead, direct, evaluate and develop the Rawabi Holding’s delocalized Accounting team to ensure that objectives are reached.
• Supervise, engage, guide and evaluate directly reported staff of 8 members team.
• Responsible for the development, performance appraisal and succession planning of all directly reporting staff.
• Promote a highly effective management and leadership style in line with the Company’s values and that supports the achievement of its strategy and objectives.
• Identify potential successor for my own position; oversee and implement developmental plans for identified successors.
• Perform miscellaneous tasks as assigned by direct manager.
As Group Manager Finance ( June2016 to date)
As Group Finance Manager, I am directly reported to CEO. My portfolio includes supervising accounting staff in Head Office and subsidiaries, financial policy and procedure, capital budgeting and forecasting, cash flow management for CAPEX and expansion projects, facility agreement with Banks for LC and LG and long term and short term loans (STL and LTL), supply chain financing, project feasibility and progress payments, ensure compliance to IAS/IFRS and internal control policies, synchronize accounting practices across the group companies, review financial reports group wise, financial analysis, ratio analysis and major KPIs, liaison with banks, internal and external auditors, lead role in implementation of Microsoft Dynamics GP, review cost modeling and transfer pricing, supervise periodic stock takes. A recent addition in my responsibilities is transformation to IAS and IFRS and implementation of Value Added Tax ( VAT ) in company's financial system.
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As Chief Accountant (April 2015 to June2016)
1. Formulate and implement effective financial policies and procedures.
2. Design and deploy internal controls, ensure compliance.
3. Develop financial strategy in line with company’s expansion plan.
4. Handle full spectrum of financial and cost accounting role eg. AR, AP, GL, forecasting, budgeting etc.
5. Build strong departmental structure. Prepare Job Descriptions for accounts positions, hire, train and place accounting staff, manage succession plan and leave plan of reporting staff.
6. Deploy internal controls, monitor compliance.
7. Perform project cost forecasts/budgets, cost tracking, monitoring and controls.
8. Review & approve payment vouchers & journal entries.
9. Resolve inter-company accounting matters and supervise accounting staff in Head office and subsidiaries.
10. Responsible for timely monthly consolidated financial statements, payments, cash-flow management reporting to CEO.
11. Synchronize accounting activity and records across the group companies.
12. Lead role for Accounts Dept. for the new ERP (Microsoft Dynamics GP) implementation.
13. Organize periodic stock take/inventory count, report variance and record adjustments.
14. Projections for cash flow, income statement and CAPEX. Arrange funds for business operations and capital spending.
15. Budgeting: design, implementation, feedback, variance and revision.
16. Maintain banking relationships. Liaison for LCs, financing facilities and service agreements.
17. Oversee other areas include Training and Evaluation, Costing, Financial Analysis.
1. Recording and reconciling sale/purchase invoices and PO, TO & Returns processing, petty cash operation, bank payments, Credit Card transactions recording and reconciliation.
2. Preparation of PnL and financial and variance analysis.
3. Microsoft Dynamics GP - Sale, Purchase, Inventory, Financial modules.
4. Retail Management System (RMS) operation and integration with Microsoft Dynamics GP.
5. Vendor Payments, accounts statement and vendor account reconciliations,
6. Training of branch data entry, cashiers and accounting staff.
7. Ensuring integrity of data input at branch level, resolve branch staff issues and maintain coordination with branch staff.
8. Monthly payroll, cash/salary advance recording.
9. CAPEX recording, fixed assets management, and OPEX classification.
10. Inter company transactions recording and reconciliations.
11. Stock taking
Manager Fixed Assets Accounts ( Feb2012 to date)
Administration Fixed Assets Addition/Disposal and Transfer Policies
Record keeping of Non-Current Assets accounts, depreciation, gain/loss on disposal etc.
Reporting related to Non-Current Assets
Finance and Accounts Office (Dec2006 to Feb2012)
Reconciliation of Collection, Disbursement, Imprest Bank Accounts of all branches across the country.
Reconciliation of Petty Cash Accounts of all branches across the country.
In charge of Data Archiving and Warehousing.
Tracking, knocking off and reconciliation of Insurance Claims.
Responsible for accounting relating to Emergency Livelihood Restoration Program (ELRP) and run and maintain the related Module.
Conversion of single entry book keeping to Double Entry Accounting.
Implementing Enterprise Resource Planning (ERP) Software (ORACLE FINANCIAL E-BUSINESS SUIT) at Unit level.
Entering daily transactions in the General Leger Module of the ERP System.
Preparing and monitoring cash flow and bank position for monthly reconciliation.
Meet the reporting requirements of The Head Quarters NLC, GHQ Rawalpindi.
To assist in reconciling and finalizing the account of the corporation.
https://www.icmap.com.pk/education.aspx At ICMAP i thoroughly studied theory and practice in following areas: Cost accounting, Management Accounting, Advance Financial Accounting, Financial Analysis, Audit, Taxation, Strategic Financial Management, Corporate law and practices, IAS and IFRS, Communication,
Accounting, Costing, managerial accounting, internal controls, communication, Economy, Mathematics, Statistics, Auditing, Computers and ERPs.