Budget Manager
Abu Dhabi University
مجموع سنوات الخبرة :23 years, 7 أشهر
- Participate in budgeting and cash flow planning process along with the Budgeting, Investment & Treasury functions.
- Work with business development (IRS) and business units to translate the corporate strategy into a five year financial plan.
- Prepare University's five year financial plan.
- Develop and update budget policies and procedures and communicate approach and timeline throughout University.
- Manage process for updating the rolling forecast of financial performance.
- Lead a team of planning and budgeting members.
- Assist business development (IRS) to develop financial and non-financial KPI's.
- Conduct scenario modeling and sensitivity analysis.
-Prepare, finalize and consolidate annual budget per campus, per department and for University as a whole.
- Present/ submit University's overall budget for Chairman approval and answer queries and clarifications from Chairman's Finance Committee.
- Approve internal management reporting templates.
- Supervise budget entries, documentation completion and workflow efficiencies of all budget analysts.
- Perform budget concurrence for each financial transaction.
- Prepare and circulate monthly budget to actual report for each department and address departmental queries.
- Prepare quarterly forecast and budget variance report for group finance office.
- Other financial budget reports and management reports as and when required.
• Understanding systems and process flow.
• Utilizing analytical and problem solving skills to identify and analyze financial records.
• Perform data validation for financial record and recommending corrective & preventive measures.
• Support the Senior Executive by highlighting issues, risks and dependencies with the data Research and investigate data irregularities/anomalies.
• Execute plan for dealing with data anomalies against criteria.
• Source and populate missing data.
• Manage conflicting data.
• Finalization of opening balances for new system.
• Managing data migration to ERP system and highlighting anomalies.
• Involved in counting, verification, barcode tagging of fixed assets and preparation of fixed asset register.
• Facilitate implementing People Soft ERP system and training to staff.
Interpersonal Skills:
• Coordination with One project manager, two supervisors
• Coordination with two Departmental Directors, senior managers and eight steering committee members.
Main Responsibilities:
• Managing all the accounting functions such as receivables, payables payrolls, general ledger, banking, journal entries and reconciliations.
• Managing monthly invoices against service contracts, addressing invoice queries and credit control.
• Managing service contracts, keeping an eye on contract value and expiry of each contract.
• Managing bid bonds and performance guarantees against each project.
• Preparation of the financial statements in accordance with IFRS and coordinate with auditors.
• Managing 13 week projected cash flow and weekly reporting to Group CFO.
• Preparation of monthly management accounts and allied reports.
• Preparation of annual budget and implementing Budgetary controls.
• Managing Local as well as foreign procurement.
• Ensure profitability of each project and operations as a whole.
Interpersonal Skills:
• Reporting to three senior managers and weekly reporting to Group CFO in UK Office.
• Liaising continuously with 3 Project Managers
• Liaising with external parties i.e. Suppliers, Auditors, Bank, FBR
• Managing team of 5 members
Achievements:
• Implementation of procurement system and automation of store ordering, Goods receiving, issuance to relevant department and reconciling physical balances with inventory record resulting into decreasing record keeping time by 50%.
• Active participation in the adoption of IFRS on group level.
Main Responsibilities:
• Managing company cash flows and liquidity risk
• Promote cash awareness in the Business team; Lead the annual planning and budgeting process; Lead the monthly forecasting process with the latest view on the predicted results for the next 6 and 12 months
• Evaluate the adequacy and effectiveness of existing policies and procedures, designing and implementing new ones as and when required.
• Monitor key business risk exposure areas, addressing key issues from financial, operational and commercial perspective.
• Develop and use Financial Models (NPV, IRR and Pay Back) to increase efficiency and to give advice on Investment opportunities, leasing and buying decisions.
• Prepare budget, projections and supporting schedules for each project.
• Ensure excellent yearend audit reviews for the company through the development of a first class control environment.
• Review regularly the performance of each project and develop key performance indicators to enable effective decision making and cost saving exercises
Supervisory Responsibilities
• Ensure accuracy and completeness of Purchase Ledger, Sales Ledger, Payroll and legal documentation for all Properties
• Production of monthly management accounts and consolidation
• Project profitability and budget-actual variance analysis
• Ensure on-time payments to Developers and other suppliers
• Ensure timely collection of monthly installments from clients and credit control
• Supplier account reconciliation and resolving queries
• Inter-company balances reconciliation
• Preparation of monthly Payroll for entire group and Payroll accounting
Interpersonal Skills:
• Reporting to two Managing Directors
• Liaising continuously with 8 Developers
• Liaising with external parties i.e. Suppliers, Auditors, Bank, HMRC etc.
• Managing team of 5 members
Achievements:
• Business process re-engineering, managing and improving the Finance systems to ensure appropriate controls exist.
Responsibilities:
• Controlling purchase ledger including sorting, coding, matching, batching and posting of invoices to ensure accuracy and completeness of purchase ledger
• Provide support in the production of monthly management accounts and consolidation from purchase ledger perspective
• Monitoring adherence to procurement system and reviewing exceptions
• Supervising supplier payments by Standing Order, Direct Debit, BACS, CHAPS and by cheques
• Internal audit visits to site offices and reporting weaknesses to managing director
• Maintain costing details and provide costing analysis to senior management in order to assist with sales pricing (monthly process).
• Overall monitoring of costs & profitability of the business
• Overall inventory control including inventory coding, perform physical counts and reconciliation of retail cash
• Management of all AP personnel, including responsibility for recruitment, training and performance management
• Standardisation of the invoice booking process (parking, one time use of vendor, etc.)
Interpersonal Skills:
• Reporting to two Managing Directors and CFO
• Interaction with all functions on the site, plus key personnel at other sites Support to centralized Finance/Operations functions
• Liaising with external parties i.e. Suppliers, Auditors, Bank, HMRC etc.
• Managing team of 3 accountants
Achievements:
• Started as maternity cover and proved skills and dedication to get cost controller position
• Introduction and monitoring of new procurement system resulting into reduction of time in processing purchase requisition 20% and reduction in procurement cost by 10%
• Clearance of backlog very quickly and regularize payment structure resulting into vendor satisfaction having ultimate effect on procurement policy.
• Clearance of control accounts and very old reconciling items.
Responsibilities:
• Managing purchase ledger, nominal ledger and bank module
• Taking an active part in developing accounting system and internal controls
• Internal audit visits to 3 site offices
• Preparation of balance sheet reconciliation, bank reconciliation and clearance of reconciling items
• Assist in the production of monthly management accounts
• Analyzing and Finalizing of Weekly Payroll for Technical staff and labor efficiency report
• Allocation of Material, labour and overhead costs to each job, perform project profitability analysis and labor performance analysis.
• Monitoring the debtors position and working with the Group Credit Controller
• Input into the budgeting process, including preparation of consolidated budgets
• Assisting in the day to day business requirements and analysis of company performance and control
Interpersonal Skills:
• Reporting to Managing Directors and Group management accountant
• Manage 3 team members
• Liaising continuously with 6 project managers
• Liaising with external parties i.e. Suppliers, Customers, HMRC and auditors
Achievements:
• Assist Group Management Accountant in reengineering of accounting system and migration from Opera Pegasus to Sage
• Review of old incomplete jobs as per job order system, invoicing of un-invoiced and clearance of cancelled jobs.
• Introduction of job analysis, labour productivity analysis and project manager performance analysis resulting into profitability uplift by 15% within 6 months period.
Responsibilities:
• Managing overall Finance and Accounts department
• Controlling cash flows and expenditure statement
• Preparation of budget for each project and assist in the preparation of project proposals
• Verifying the authenticity of transactions and documentary evidence
• Managing advances to project staff their timely settlement and sufficiency and appropriateness of documentary evidence available
• Production of monthly management reports for each project and budget vs actual analysis
• Analysis of financial information and quality of record keeping
• Maintenance of the Fixed Asset Register
Interpersonal Skills:
• Reporting to Executive Directors
• Manage 3 team members
• Liaising continuously with 5 project managers
• Coordinate with external auditor
• Liaising with external parties i.e. Suppliers, Customers, Banks and regulatory authorities
Achievements:
• Managing cash flows in critical situations
• Establishment of strong monitoring system and performance analysis of project staff and project milestones
Audit and Accountancy
Statutory Audits, Cost Audits, Investigation Audits for a variety of organisations ranging from Manugacturing concerns, Telecom companies, Petroleum companies, Pharmaceuticals, Confectioneries, NGOs and Service organisations. Accounting and advisory services to various clients including advice on complex accounting treatments and maintenance of accounting systems keeping in view the internal control systems. This also includes the recommendations about accountancy software and training of staff. System reviews covering not only financial side but also the operational and administrative competence of the organisation, highlighting system weaknesses, recommending improvements and providing assistance in relevant tasks and capacity building.
Interpersonal Skills:
• Reporting to Senior Partner
• Manage audit teams and ensure audit is completed within budgeted time
Achievements:
• Completion of complex audits including investigation assignments as team leader
• System study and recommend accounting and costing system - conversion from manual accounting system to paperless computerized system based on Oracle including implementation procedures and performed post implementation reviews.
Special Assignments Accomplished
• Development & Implementation of Financial and Costing Systems:
Appointed as a Project leader of a project concerning accounting system development & implementation in large production organization.
Project included all phases of system development from system study to final computer generated results. The project contained the following areas:
Financial Accounting System
Fixed Assets Management System
Inventories Management System
Costing System
Streamlining of existing system and drafting of financial and accounting manual keeping in view the requirements of;
International Accounting Standards
Government Accounting & Financial Rules
Standing Operating Procedure (SOP)
•C.A (Final-module E) – Referred [Obtained permanent exemption from “Advanced Accounting and Financial Reporting” & “Advanced Auditing” of C.A Final Examinations.] Institute of Chartered Accountants of Pakistan During C.A (Inter) my major subjects were Financial Accounting, Management Accounting, Auditing, I.T, Taxation, Mercantile & Corporate Laws and Economics
Major courses include Financial Accounting Advanced Financial Accounting Cost Accounting Auditing Introduction to Business Banking Currency and Finance Also included 3 months Internship with Habib Bank Limited.