Finance Manager
AXA Insurance Gulf
Total years of experience :13 years, 6 Months
Responsible for in preparation of consolidated group financial statements, combining GCC entities, ensuring compliance with IFRS, multiple financial reports, management reports, variance analysis reports, MIS, dashboards, and various other reports at a fast pace with accuracy. Preparation and submission of statutory and regulatory financial reports.
Ensured that all financial reporting obligations of the company are timely and accurately fulfilled, by preparation of multiple financial reports of varying complexity including quarterly and annual financial statements, and implementing IFRS. This also involves timely completion of audits and coordination with statutory regulators for submissions.
Handled multiple financial planning & analysis (FP&A) activities of the organization including preparation of budgets, valuation reports, financial models, forecast financial statements and valuation of potential investments.
Ensured that routine accounting operations of the company are smoothly completed on a timely manner. This includes month-end closing entries including payments & accruals, bank reconciliations, supplier and commission payments, collections from customers and refunds, inter-company transactions, control account reconciliations and the list goes on.
Assisted in handling the investment portfolio of UAE related to cash deposits, bonds and equities. Reporting transactions of sales and purchases ensuring correct recording of returns on investments. Prepared monthly reconciliation reports, negotiated rates with banks and ensuring best rate of return. Monitored daily cash position and ensured that sufficient liquidity is maintained to cater the upcoming payments as per forecasted financial statements.
Ensured timely VAT implementation by identifying change requirements in systems and processes, preparing accounting entries mapping and performing user acceptance testing. I also reviewed and improved change documentation, provided input on interpretation and application of VAT laws, challenged understandings and opinions wherever required. Provided trainings to staff and handling all VAT related queries. Responsible for preparation and submission of monthly VAT returns.
Closely engaged with a third party vendor to implement new ERP system by explaining requirements, comparing old and new functionalities, ensuring correct data flow, performing testing and suggesting improvements.
Introduced automation in the financial reports which resulted in preparation of reports faster and saved 30% of time. Innovated new management reports containing significant insight utilizing raw data helping management in taking key decisions which increased profitability and reduced costs.
Enhanced team performance by documenting, reviewing and reengineering standard operating procedures of accounts team, provided trainings to staff and shuffled responsibilities between team members for back-up planning and personal development.
Performed due diligence engagements that assess potential value and risks associated with a transaction. Ensuring clients and potential investors understand the underlying trends of the business prior to an acquisition. Specific specialization in buy/ sell side transactions and ensuring clients effectively manage their equity value in the build up to a sale.
Involved in sell-side and buy-side Mergers & Acquisitions (M&A) transactions and providing commercial advisory services. Worked on key transactions advising strategic clients across, Healthcare, Information Technology, Manufacturing, food and beverage, leisure and entertainment.
Involved in valuation, financial analysis, business and financial modeling and valuation, PPA, investment analysis, preparing compelling proposals, pitches, generating leads and delivering exceptional value to clients. Assisted clients in arranging capital.
Business valuation of private companies in relation to potential transactions. Performed financial and valuation analysis, conducted high level economic and industry research to identify peer groups and assess valuation multiples from listed markets and M&A transactions. Preparing analyses of historical and pro forma financial information to assess trends and fluctuations that may impact cash flow requirements and deal valuation. Performing industry and company research utilizing online tools and Information.
Evaluated systems of internal control and risk management procedures; identifying weaknesses therein and communicating those weaknesses with recommendations to those charged with governance and management on a timely basis; and Internal control testing, designing procedures, preparation documentation, performing substantive testing procedures.
Performed Process Reviews, process re-engineering, Internal reviews, financial reviews, internal audits and manual preparation assignments for different organizations, including proposal writing and designing. This included significant analysis at a deep level of the processes to understand client’s business.
Prepared and reviewed financial statements to ensure compliance with applicable standards and laws. This involved ensuring correct IFRSs accounting treatment for complex areas like Financial instruments, Revenue Recognition, inter-company transactions, Mergers & Acquisitions, Impairment Reviews and Consolidation of subsidiaries and affiliates. Got exposure to various accounting systems and ERPs including SAP, Oracle Financial, Dynamics, Hyperion, Tally, QuickBooks etc.
Designed, performed and reviewed different audit procedures to identify, mitigate and control audit risk, to obtain sufficient and reliable audit evidence which helps in formulating audit opinion. These procedures included substantive analytical testing, physical examination, cross verification, third party confirmation and source document verification.
Reviewed processes and systems of different clients in order to provide value added services to audit clients by advising on improving their internal controls by identifying areas of risk, assessing and reviewing internal control, recommending strategies for reducing risk.
Coordinated, motivated and trained the audit engagement team. Responsible for effectively delegating tasks, budgeting, providing guidance to staff, allocation of work, review and monitoring performance of the team members. Clients included diverse industries including FMCG, Construction, Retail, Real Estate, Governments, Wholesale and Oil & Gas.
courses: Equivalency letter from ACCA UK Certified Accounting Technician – from ACCA UK - (Gold Medalist in Financial Accounting) Associate Certified Public Accountant (ACPA) from Institute of Certified Public Accountants of Pakistan (ICPAP)
courses: Equivalency letter from ACCA UK Certified Accounting Technician – from ACCA UK - (Gold Medalist in Financial Accounting) Associate Certified Public Accountant (ACPA) from Institute of Certified Public Accountants of Pakistan (ICPAP)