Finance Manager
Dubai Investments PJSC
مجموع سنوات الخبرة :14 years, 7 أشهر
• Managing Banking relations, arranging General & Project Specific bank Guarantees, Facilities and Working Capital Requirements.
• Supervising all financial and cost aspects on projects, in collaboration with cost control team, overseeing cost forecasting, budget, quarterly closing analysis, monthly forecast and management reporting.
• Monitoring project revenue and cost to complete throughout project life, analysing actual results to budgets and forecasts through variance analysis and exercising the reconciliation between cost control and accounting records and taking corrective actions to eliminate the impact of variances.
• Preparation of financial statements, maintenance of statutory and corporate books of accounts & financial statement for quarterly & annually held audits.
• Supervising and guiding accounting department during financial closings & reconciliations.
• Closely monitoring and updating project cash flow forecasts using actual cash flow data, short-term cash flow plans and project life forecast of revenue and cost to complete.
• Timely issuance of client invoicing, follow up on the receipts, monitor overdue and take corrective actions.
• Analysing contract documents and correspondence to establish project financial setup and suggesting financial terms.
• Preparation and review of annual budgets, forecasting profitability for scheduled projects by strategizing with business heads and other departments to develop alternative solutions in order to ensure sustained growth.
• Identifying and investigating variances to financial plans and forecasts by interpreting financial results, effecting control measures and optimizing financial forecasting to ensure accurate reporting, proposing metrics and KPIs to be incorporated into the monthly financials and providing directors with target actions.
• Preparing entire reports for the quarterly meeting of the Board of Directors and providing forecasts in order to enable strategic decision making.
• Liaising with the auditors (KPMG), bankers, lawyers and other key stakeholders interfacing with the finance function, overseeing the internal control function and interacting with the internal auditors as per requirements.
• Project cost monitoring, review, updates and reporting till project completion in coordination of project director.
• Development and review of financial models and projections for the ongoing and new projects.
• Preparation of business plans, budgets with related cash flow forecasts and actual costs variance analysis reports on month and annual basis.
• Raising progress billings to ENI SAJER (Italian Oil giant) and other clients and working with engineers in generating BOQs’.
• Fund management (preparing cash forecasts and managing funds for meeting business needs on timely basis).
• Review of new contracts to see finance related terms and conditions e.g. payments method, if any advances etc.
• Coordinating and liaison with the external auditors and resolving of management letter pending points.
• Preparation of (consolidated and/or Individual) P&L/Income and Expense Statement, Balance Sheet, Cash Flow and other financial statements of the company in accordance with International Financial Reporting Standards (IFRS).
• Reconciliation of progress invoicing summaries, receivables, payables, inter-company accounts, cash, inventories, banks and investment portfolio.
• Liaison and dealing with managers of other group entities, vendors, customers and other parties.
• Working with Project Managers in allocation of cost and preparing funds utilization statements to account for costs.
• Maintaining Chart of Accounts (Assets, Liabilities, Equity, Expense, Income) and master data of customers, vendors and other parties;
• Working with ERP team in implementation of Oracle ERP along with the customization of documentation.
• Managing and supervising the subordinate staff members.
• Coordinating and liaison with the external auditors (Baker Tilly) and internal auditors (Ernst & Young).
• Preparation of (consolidated and/or Individual) P&L/Income and Expense Statement, Balance Sheet, Cash Flow and other financial statements of the company in accordance with International Financial Reporting Standards (IFRS).
• Preparation & finalization of monthly management accounts i-e balance sheet, profit & loss account, cash flow, related notes and other MIS reports i-e receivables and payable ageing reports, accounts analysis, expense report and other reports.
• Preparation of projected accounts with schedules and fulfilling requirements for opening new bank accounts.
• Maintaining Chart of Accounts (Assets, Liabilities, Equity, Expense, Income) and master data of customers, vendors and other parties;
• Preparation of business plans, budgets with related cash flow forecasts and actual costs variance analysis reports on month and annual basis.
• Identifying cost reduction opportunities and managing investments in profitable ventures.
• Follow-up to ensure all actions are completed for payment to be made and managing the collection activities.
• Preparation of payroll, interest/commission statement, fund utilization statement on month basis and reporting payroll and interest/commission summaries to higher management.
• Oversee the effective delivery of contract administration, payroll, asset management, accounts payable and receivable across the division’s operations.
• Ensuring accuracy, integrity and completeness of data and closing of monthly books of the accounts.
• Ensuring effectiveness of internal control requirement, suggesting and discussing control improvements with documentation & procedures improvements.
• Maintenance of fixed assets register, vendor files, accounting records and General ledgers of company.
• Preparing VAT statements and clear the payment of tax within specified time.
• Supervising portfolio of audit clients which includes planning, supervision and finalisation of statutory audits in compliance with local laws and regulations, international financial reporting standards (IFRS) and international standards on auditing (ISA).
• Leading and supervising large teams through planning, execution and completion stages of assurance engagements and special assignments.
• Coordination with team manager to define the extent of planned audit procedures and to update on progress of the engagement.
• Designing business process flowcharts and internal controls and suggesting on improvements in internal controls.
• Overall analytical review of financial statements of the companies.
• Liaison and consultation on significant matters with BOD and various professionals such as lawyers, tax advisors and IT experts.
• Assisting clients in preparation of financial statements in accordance with the applicable financial reporting framework including compliance with International Financial Reporting Standards (IFRS), local corporate laws and directives of regulatory authorities.
• Arranging regular stock taking meetings of the engagement team to obtain regular feedback on the progress of the engagement.
• Providing advisory services to clients in respect of taxation, foreign currency remittances, accounting treatment of complex transactions and compliance with secretarial practices.
• Carrying out project evaluation, due diligence reports and feasibility studies; and
• On-the-job training and professional development of staff.
• Following are the most significant various sectors and related engagements that have contributed to my professional growth:
• Construction and Real-Estate Development
• FMCG Concerns
• Services / Hospital Sector
• Trading Sector
• Manufacturing / Processing Organisations
• Not for profit Organisations
Associate Chartered Accountant (ACA)
Certified Internal Controls Auditor-USA
CA-Intermediate