Muhammad Sohail

• Accounting: managing and reporting monthly MIS, consolidation, and comprehensive board pack.
• Budget control: producing budgets for efficient decision-making.
• Business Strategy: driving the business strategy and profitability through business partnering with the leadership teams.
• Management control (measurement): establishing a dashboard with key performance indicators for business monitoring and decision-making.
• Commercial involvement: partnering with retail, hospitality and residential leadership teams to help them grow sales through various initiatives, financial information and feasibility reports.
• Treasury: managing working capital (liquidity, collections and payments, short-term debts).
• IT: Designing and promoting the implementation of computerized management systems.
• Relationship with banks: managing and using financial resources to achieve the company’s general objectives, optimising performance by negotiating terms with banks and financial institutions.
• Taxation: managing the company’s taxation and ensuring compliance in all tasks.
• Close collaboration with the Human Resources and Information Systems departments.
• Participating in the establishment and amendment of company policies and procedures.
ACHIEVEMENTS DURING MY ASSOCIATION WITH ALSHAYA ENTERPRISES:
• As a member of the project management team, played a key role in driving and implementing the new org. structure as per strategy 2020. This has helped the company in achieving revenue growth of 20% in 2021.
• Led a successful ERP implementation (Dynamics 365) from finance across the GCC in 2019.
• Recovered AED 12 million from a customer aged over 9 years old through high-level discussions and negotiations.
• Saved AED 22.5 million through various cost-cutting initiatives during the pandemic time.
• Managed the closure of one of our brands and succeeded in selling 95% of the stock by using various sales & marketing strategies. This has saved potential stock losses over AED 3 million

Sanipex Group is the market leader in trading of branded sanitary ware and plumbing solutions having operations in GCC, Asia, Europe & Africa. The position carries independent group reporting to Group Finance Director with key role in financial planning & reporting, treasury, commercial finance & business analysis at the group level. I have been managing a team of 13 accountants who directly reports to me.

 Managing group financial reporting, accompanied with a comprehensive board pack on monthly basis.
 Managing group consolidation on a half yearly and annual basis based on IFRS.
 Be main point of contact for Sales and Marketing team in relation to forecast and budgets. Work closely with regional sales team on revenue recognition and profitability issues.
 Payroll Processing - WPS system and online submission on banks website.
 Responsible for yearly group company budget in its entirety with variance analysis reports for Directors throughout the financial year.
 Brief management on any areas of overspend and identify areas for greater efficiency.
 Business partnering with line managers to ensure KPI’s are being met for their respective business units. Perform an advisory function covering various financial initiatives.
 Evaluate CAPEX and formulate projected P&Ls and cash flows for future investment opportunities.
 Business partner to IT specialists, to develop automated reporting and address the needs of our management to make decisions.
 Track business performance on all tactical decisions via variance analysis highlighting any calls for concern with operations.
 Be main point of contact for external auditors, build effective relationships with auditors to help achieve business objectives and resolve queries. Ensure timely completion of audit schedules and actively look for control and process efficiencies.
 Dealing with corporate banks / relationship managers and managing all bank facilities.
 Group cash flow planning and realistic forecasting.
 Managing the taxation of group companies and ensuring timely submission of tax returns.
 Managing the operational finance functions i.e. receivable, payable and inventory.
 Evaluate overhead cost of the company and managing a continuous process of cost containment.


ACHIEVEMENTS DURING MY ASSOCIATION WITH SANIPEX GROUP:

 Performed a lead role in the implementation of new ERP system (Microsoft Dynamics AX) and prepared the new chart of accounts and account structure for the group.
 Designed and implemented internal audit procedures at all retail showrooms to identify control weaknesses and my findings and recommendations helped the group to have improved internal controls.
 Defined and implemented Credit Control Process across the group which has led to significant control over client acceptance and reduced the risk of bad debts significantly.
 Prepared a research report on Saudi Sanitary Ware Market which helped management to penetrate in that market.
 Tied up with different banks for Easy Payment Plan which had led to an increase in retail sales by 21%.
 Saved down company’s cost through negotiation with POS providers to reduce the transaction cost by 30% which led to a saving of AED 500k per anum.
 Major restructuring of banks facilities which has led to reduce in pricing of all bank facilities by 38%.

KEY PROFILE:

Overall planning of audits, conducting initial planning meetings with clients to understand & co-develop expectations and designing audit strategies in consultation with the Engagement Partner, after assessing the underlying audit risk in the light of the assessment of the client's overall control environment.

Obtaining a thorough understanding of the nature of the client's business, the business and regulatory environment in which it operates, SWOT analysis, identification of critical success factors and key performance indicators, initial overall analytical review, understanding major business processes, analysis and testing of internal controls at the interim and final stages and detailed testing of significant account balances and transactions.

Application of International Financial Reporting Standards (IFRS), Technical Standards and Generally Accepted Accounting Practices (GAAP)

Review and supervision of the work performed by audit assistants throughout the course of the audit.

Assisting client with the preparation and presentation of financial statements including significant financial statement
disclosures, in the light of the relevant reporting framework and ensuring compliance with all applicable reporting
requirements.

Preparation of final audit deliverables - the audit report, the covering letter to the Board of Directors, the Management Letter, reporting packs and other reports and certificates.

SECONDMENTS TO GULF COUNTRIES

Qatar:
Worked as Engagement Auditor for Ernst & Young, Doha office, in Assurance and Advisory Business services (AABS) on secondment.
Major audits include Chiyoda Technip France JV, CDE Ireland Limited, Holicim Trading S.A.

United Arab Emirates:
Worked as Engagement Auditor for Ernst & Young, Dubai office, in Assurance and Advisory Business services (AABS) on secondment.
Major audits include Burj Khalifa, Dubai Festival City Group, Gulf Digital Distribution Co. LLC, Reef Real Estate
Investments LLC, Reliance Industries ME DMCC, Sanipex Group.

Saudi Arabia:
Worked as Engagement Auditor for Ernst & Young, Riyadh office in Business Risk services (BRS) on secondment.
Major audit include Jadwa Investments.