Finance Manager
SM Lanka
Total des années d'expérience :12 years, 2 Mois
One of the largest FMCG business in the region with an annual turnover of 350 Million Sri Lankan rupees. Employed as the Finance Manager to direct and oversee all the financial affairs of the Company.
Duties and responsibilities:
• Directing and coordinating activities of all the departments, such as purchasing, operations, sales, finance, and credit. In addition to that, administering organization policies by performing the following duties personally.
• Participates in formulating and administering organisation’s policies, collaboration with other departments Ex - setting sales target / budget / variance analysis discussion and so on.
• Develop, review, update and implement business strategic planning. Including sales, financial performance and new product marketing.
• Oversees key projects, processes and performance reports. Ex - Introduced Online customer ordering system (i.e. WhatsApp) which led increased in sales turnover by 10% during the period. Reviewed the online order report for the quarter and discussed the market growth with the sales team.
• Effective administration of working capital management - Since 40% of sales is based on credit, this led to the requirement of well-managed working capital management.
• Preparing financial statements in accordance with the International Financial Reporting Standards “IFRS”
As a Fund Accountant represented all the financial aspects of the Investment valued at AED 2.8 billion. The Investment comprises of fifteen income producing assets with attractive investment fundamentals. These properties are spread across residential, commercial, industrial and alternative real estate asset classes.
• Produced and analysed monthly stand-alone management accounts for all the 15 properties (i.e. monthly and property-wise income statement, property-wise balance sheet, and property-wise cash flow)
• Simultaneously managed accounts for all the 15 properties (which includes revenue calculation i.e. AED 150 Million per annum, deferred-revenue calculation, receivable and other related calculations), with a focus on reducing negotiable expenses while gaining profitability in income areas, such as penalty charge.
• Accounted for loan-related interest calculation and standardised loan interest settlement plans (Principle amount AED 2 billion).
• Administered banking activities related to all the 15 properties (under my supervision there were 34 bank accounts and 32 of them were subjected to daily operations).
• Streamlined system for property analysis, reporting and recommendations to guide future strategic planning.
• Produced information memorandums for submission to senior management, the board of directors, bankers and potential investors on new strategic investment opportunities.
• Formalised Internal control systems, implemented and supervised.
• Being in charge of the quarterly reviews and year-end audit for the fund - The Investment was made in 2016 September, three months prior to my appointment. As the first Fund Accountant appointed in the firm, I initiated all the appropriate accounts in the system and recorded all the events for the period (Sep-Dec 2016). In the meantime, executed the first statuary audit and ensured successful completion of the period ended audit (i.e. 31-Dec-2016) within the first three months of my tenor.
• Engaged in different audits from various industries, such as investment, manufacturing, governmental sectors, transportation, utilities, educational
• Overall planning of audits, conducting initial planning meetings with clients to understand and design audit strategies in consultation with the Engagement Partner, and manager, after assessing the underlying audit risk in the light of the assessment of the client’s overall control environment
• Effective planning and co-ordination of assignments with the client and team to ensure timely reporting of deliverables within the agreed deadlines
• Leading and managing fieldwork on engagements by delegating work to team members and review their work to ensure the smooth delivery of the audit process
• Prepare the financial statements in accordance with the International Financial Reporting Standards “IFRS”
• Review the deliverables documents along with the engagement file directly with partners, directors and senior
managers
• Maintain an excellent relationship with my clients on a professional and independent level
• Attend the Board of Directors, Audit Committee, and Annual General Meetings and Prepare audit committee
and board presentations for listed and governmental clients
Planning, conducting and finalization of audits of financial statements.
Analyzing and obtaining an understanding of the clients business.
Providing guidance to other members of the audit team on performance of their duties and review of their work
Preparation of financial statements, auditor's reports and other reports in accordance with relevant standards and legislation.
Communicating to the client on any accounting or audit related issues.
Advice clients on their regulatory obligations.
Identification of internal control weaknesses and preparation of management letters.
ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. Which aim to offer business-relevant, first-choice qualifications to people of application, ability, and ambition around the world who seek a rewarding career in accountancy, finance and management. Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity, and accountability.
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