Finance Manager
Smaka Group of Companies
Total years of experience :22 years, 3 Months
(SME & JV Business Units: Transportation & Trading, Robotics Engineering - Education, Environmental Solutions, Contracting & Construction Material, Property Management & Consultancy, IT - GIS and Oil & Gas Projects)
Finance Manager, Key Responsibilities:
Accomplishments:
Successfully up-graded the comprised accounting system to meet VAT requirements of various business units.
Achieved effective internal control of each business unit through successful implementation of SOP's.
Implemented Project Accounting for each business within the group.
Set up Control System for Partner's Account and Intercompany Balances of each business of the group.
Functional Leadership:
Spearhead financial and fiduciary management with a team of 18 professionals in a multicultural and multinational work environment; ensure consistent growth in profitability and revenue turnover.
Lead finance operations including risk management for the group.
Conduct financial analysis for the group on a monthly, quarterly, and yearly basis and update the key management of recent developments.
Strategically plan and implement action plans that enable smooth conduct of financial transactions.
Prepare short term and long term business plans to meet the overall goals of the organization.
Build robust business relationship with strategic allies, auditors, institutions, and government statutory bodies; ensure speedy resolution of accounts related issues.
Supervise staff payroll management system for companies associated with the group.
Review financial statements and monitor end to end accounting activities.
Ensure compliance with the international accounting policies and protocols.
Account Management:
Prepare and implement accounting policies and procedures as per the internationally established protocols.
Review accounting software performance and implement strategic changes that facilitate preparation of financial statements and provide proper information regarding the financial health of the group.
Maintain highest level of accuracy for entries made in the general ledger.
Ensure proper functioning of all systems, databases and financial software.
Analyze accounting software performance and enable compliance with the established taxation (VAT) norms.
Follow up on backup of all accounting data and storage of the same as per the regulatory guidelines.
AR/AP Management:
Manage cash flow and handle statutory budgeting and forecasting activities.
Review financial transactions and put checks and balances to control cost and boost profit margins.
Supervise accounts payables / receivables and conduct age analysis.
Taxation and VAT:
Authenticate VAT reports and manage the filing of returns as per legal guidelines.
Conduct accounts statement analysis for appropriate tax planning.
Update on changes in taxation policies and ensure total compliance.
Stakeholder Management:
Update stakeholders on the financial health, short-term and long-term growth progression of the organization.
Engage with the Executive Leadership Team to review performance and address areas of concern.
Interact with internal department heads to highlight the BOD plans, initiatives and recommendations.
Represent the company to banks, financial partners, institutions, investors, public auditors and officials.
growth.
(Building Construction, Property Management & Developer, Real Estate, and Marketing & Exhibitions)
Highlights :
• Lend a helping hand to the IT staff for the development of ERP financial module as per the business requirement.
• Spearheaded the preparation and allocation of budget for the exhibitions and Launch of New Towers.
Key Responsibilities :
• Devised and implemented financial policies, systems and procedures to enhance the company’s financial sustainability and growth, whilst ensuring strict adherence to organizational ethics and standards.
• Formulated and analyzed associated financial statements including profit & loss, balance sheet and cash flow by utilizing ERP accounting system software to ascertain better functioning in an efficient and effective manner.
• Prepared monthly, quarterly and annual project wise reports along with debtors and creditors reports (age analysis) and cost analysis reports for the each project, thus presented tailored financial business plans and budgets to the management to facilitate decision making.
• Prepared and evaluated financial forecasting of each project, , thereby identified, analyzed and resolved accounting discrepancies and ascertained that all policies and procedures are aligned with the organizational goals.
• Formulated and evaluated projects and company wise annual budgets, revenue with periodical controls, consequently performed variance analysis and compared actual results with the defined budgets while ensuring affirmation with business strategies.
• Supervised and executed receipts and payments process pertaining to invoicing, payments and recoveries of each company to ensure smooth execution of all accounting activities.
• Examined and verified transactions of the business on a daily basis and accordingly approved the posted entries thorough ERP accounting software, enabling smooth finalization of accounts.
• Managed and lend a helping hand to internal and external auditors for seamless functioning of activities leading to optimal growth chart of the organization.
• Fostered effective channels of communication with various banks and simultaneously handled all banking related matters (Escrow Accounts) to ensure accuracy and completeness of financial information.
• Instrumental in scrutinizing Inventory, Cash, Receivable and Payroll Management System”, thereby responsible for administering bank reconciliations and inter-company balances to accomplish organizational goals and objectives.
• Oversaw the supervision of payroll and payment of commissions to internal team members, agency partners and Freelance Agents by keeping abreast of all pertinent legislation, rules, regulations and agreements/contracts with sales agents that may relate to organization financial affair functions.
Highlights :
• Effectively supported the IT Department for the development of University Management System (Oracle Forms Based) mainly students fee collections and reconciliation ledger.
• Played a crucial role in monitoring cash and bank control account for the construction of new building unit with respect to budget allocation.
Key Responsibilities :
• Aided in devising and implementing financial policies, systems and procedures to enhance the company’s financial sustainability and growth.
• Spearheaded the whole gamut of activities associated with preparation of financial statements of the company comprising of profit & loss account, balance sheet and cash flow via ERP Accounting Software and Peachtree.
• Communicated effectively with internal and external auditors, thus drafted answers of the qualifications, if any queries raised by the auditors to consistently chart a rising business curve for company services.
• Effectively implemented Oracle based University Management System (Financial Module), hence accountable for the management of receipts, payments and general vouchers along with petty cash account to ensure proper flow of work.
• Assisted the Finance Manager for the preparation of annual budget, ensuring its timeliness, accuracy and consistency, thus analyzed variance and suggested corrective actions.
• Influential in controlling PDC’s, thereby deposited the same in university bank accounts to improve organizational accounting/management practices and internal control systems.
• Instrumental in preparing receipts reconciliations (student wise) through bank statements in accordance with established accounting standards and procedures.
• Managed the preparation of staff payroll & visiting faculty staff remunerations, ensuring timely payment as well as of local / federal tax returns.
• Effectively formulate the long and short term strategies for enhancing university revenues by controlling direct costs & overheads.
• Monitored the month end period closures and ensured that financial and variance reports are presented to the management in a timely manner and with accuracy along with formulating tailor made MIS reports for the use of management as per the need.
Highlights :
• Pioneered in facilitating the IT Department for the expansion of separate module for fixed assets record.
• Successfully achieved annual revenue target of 2 Billions in the year 2003 and 2004 respectively.
Key Responsibilities :
• Planned, organized and evaluated all accounting procedures and policies to ensure transactions are efficient/ effective, accounting is accurate and complete.
• Supervised the whole gamut of financial operations functions along with diverse nature of bank accounts of company in various commercial banks inclusive of revenue collection accounts, deposit/profit accounts, L.C’s and Disbursement Accounts, thus oversaw the reconciliation work to enhance smooth functioning.
• Responsible for audit facilitation (pre-audit and post audit (internal audit) of 48 IESCO accounting units/divisions) to attain company goals and objectives.
• Liaised effectively with external auditors for extending desired information and documents, thus prepared replies of audit qualifications in acquiescence with company ethics and standards.
• Accountable for finalization and consolidation of accounts of 48 IESCO divisions and accordingly managed the preparation of financial statements in coordination with their respective subsidiaries for proper functioning.
• Oversaw the supervision of fixed assets records via accounting software developed by the company to assure proper flow of work in line with company standards.
• Influential in administering various reports of income tax / excise duty and their related issues to consistently chart out organizational goals and objectives.
• Supervised the preparation of receivable/payable reports (aging), thus submitted the same to the senior management for efficient decision making.
• Liable for administering Loan Management department of the company, whilst ensuring strict adherence to organizational policies and procedures.
Previous Professional Experiences :
• February 1995 - December 2001: Assistant Accountant with WAPDA (Water and Power Development Authority), Pakistan
Affiliate Membership # 38606 - CIP
Two Years Post Graduate Certificate in Cost & Management Accounting.
Senior Member of Institute - Fellow Membership (FPA-4543)
Got 1st Position in my college and awarded with letter of appreciation by the Institute.