Muhammad Husnain Bilal

Key Contributions:

• Supporting Chief Financial Officer (CFO) in effective implementation of strategic decision;
• Work closely with General Manager (GM) in preparing and evaluating business strategic outlook ensuring business continuity;
• Linking business strategy with the preparation of budget;
• Produce management reporting on monthly basis with commentary on financial numbers and justification of variations in key financial indicators;
• Work with business stakeholders to ensure a deep understanding of financials;
• Improvement and/or Implementation of systems, policies and procedures;
• Taking part in organisation authority matrix, limits assigned and giving valuable feedback in approvals protocols.

Recurring Activities
• Monitoring monthly closing process;
• Preparing consolidated financial statements, profit and loss and cash flow statements;
• Review monthly financial reports in comparison with budget and forecast;
• Consolidating monthly & quarterly financial reporting presentations for the management and Board of Directors (BOD’s);
• Giving presentations during monthly business finance review meeting on financial part of presentation to the management and BOD’s;
• Actively participating in the annual budget preparations;
• Preparing & updating budget templates;
• Preparing and consolidating budgeted Profit and Loss Account, budgeted balance sheet and budgeted cash flow statements;
• Coordinating with external auditors for timely completion of external audit;
• Reviewing the Zakat templates for further submission to ZATCA;
• Reviewing monthly Value Added Tax Returns (VAT);
• Coordinating with the auditors to conduct IKTVA and Local Content (LC) engagements;
• Interacting with banks for opening of letter of credit (LC’s), performance bonds and bid bonds necessary to ensure smooth functioning of the operations of the company

Al-Suwaidi Industrial Development is a group of companies engaged in diversified business operations of providing industrial services including, plant maintenance services, shut down activities, specialized maintenance services, scaffolding services and lodging and catering services.
As FP&A, reporting directly to Group Chief Financial Officer (GCFO) and Chief Executive Officer (CEO) and assisting them in providing complete financial package of monthly financial presentation for Board of Directors. Achieving this task by working very closely with finance & accounts and operation team in the gathering, analysis, preparation and consolidation of financial and operational performance reports in support of strategic and operational goals that provides objective business insights, external financial perspective and effective control mechanism. This is a challenging, highly analytical, detail oriented role with frequent interaction with all levels of management.

Key Achievements:
In addition to meeting above reporting deadlines I have achieved the following:

• Analyse existing ERP system and perform gap analysis to reconcile the key expectations / output requirements of stakeholders and identify the processes required;
• Review the existing chart of account and perform gap analysis to reconcile chart of account requirements as per International Financial Reporting Standards (IFRS);
• Preparation of budgets with close coordination of Operational Team and oversee and continuously improve forecasting process by effectively working with the various stakeholders;

• Lead fixed assets physical verification assignment and highlight the key weaknesses in internal control systems alongwith suggested solutions to the management;
• Perform transition working for first time adoption of International Financial Reporting Standards 16 (IFRS 16-Leases) and performed working of Expected Credit Loss (ECL) method as per IFRS 9 Financial Instruments.

Meet and exceed performance goals by leading entire functions of finance and accounting department consisting a team of 11 employees, reporting directly to Group Financial Controller and Group Finance Director. Manage a substantial portfolio of revolving banking facilities including Short Term Loans. Assess financial obligation and business/associated financial risks by delivering corporate and financial reports to management. Analyse dips in forecasted cash flows and oversee working capital requirements by preparing and implementing concrete plans.

Key Contributions:
• Achieved set business targets of company by acknowledging operational funding requirements in close collaboration with general/divisional managers.
• Targeted desired net profit for corporate by providing risk based evaluation of financial statements and calculating financial/operating leverages.
• Working Capital management by making concrete plans to liquidate Trade Receivables, Inventory, Temporary Roll Over of loans, Pre-settlements of the loans, negotiating with banks for stand by letter of credit
• Attained value added advantage by attending meetings of Board of Directors that presented financial scenarios of company and probable year end closing.
• Received positive appreciation from senior management by re-structuring/improving cost reduction plans and facilitating cost-effective synergies.

s a Financial Controller I was reportable to Group Chief Financial Officer (GCFO) and responsible for the following areas:

Key Contributions:
• Interacting with banks for arranging financing facilities related to the projects; preparing company level & projects level cash flows to manage latest funding requirements and forwarding revision relating to cash flow gaps to banks for enhancement of banking facilities
• Evaluating working capital management of the company; maintaining historical & future financial figures of the company
• Arranging bid bonds, advance payment & performance guarantees and related documentation (e.g. assignment of contract proceeds, acknowledgement of assignment of contract proceeds from client) to initially gear up the projects
• Communicating with Relationship Managers to identify the latest banking requirements for effective cash management

 OTHER OPERATIONAL ACTIVITIES:
• To manage the execution, and implementation of control activities of Finance Department.
• Develop and analyse the performance of each business line against budgets.
• Preparation of the Consolidated and separate financial statements of the Company.
• Evaluate and manage the financial performance and monitor and mitigate risks by implementing internal control mechanism.
• Work with GCFO and Business Development Team to identify new potential opportunities for investment in projects..
and maintenance of payment records.
• Preparation of forecasted cash flow and provide suggestion to GCFO for the repayment plan.
• Close coordination with the functional and operational area managers to help in understanding the projected financial path of the project.
• Making presentations of projected financial results for the Board of Directors in their quarterly meetings.

I joined ELMEC Contracting Company Limited as a Project Financial Controller and responsible for the following areas:
• Financial Planning, Budgeting and budgets latest forecast of remaining work.
• Preparation and evaluation of variances analysis report.
• Projects initial feasibility reports to decide either to enter into projects or not.
• Productivity analysis based on budgeted and actuals results.
• Preparation of financial projections.
• Preparing projected cash forecast.
• Performance of Sensitivity Analysis to determine which cost is most sensitive on projects
• Preparation of sales analysis and determination of back logs in the projects
• Preparation of cost status report.
Keeping in view my performance, management has decided to give me some head office based additional responsibilities mainly in the following areas:
• Preparation of annual capital and profitability budgets for upcoming year of the company and support departments of the company and submission of the same with management for approval.
• Take care of all Projects sized SR 850m, to control budget vis-à-vis Accounts and Finance.
• Preparation of monthly financials for management review.
• Preparation of projects Revenue Calculation sheet.
• Maintaining control over book keeping functions of the company.
• Managing accruals of expenses by ensuring timely recognition of expenses.
• Preparation of annual financial statements and coordination with external auditors for issuance of audit reports.

I joined Varioline Group Of Companies as Manager Accounts from September 15, 2009 to October 10, 2013. Working in this capacity, I was responsible for following kind of activities:
• Monthly preparation of financial statements in accordance with International Financial Reporting Standards (IFRS);
• Preparation of annual financial statements and coordination with external auditors for issuance audit reports;
• Projected financial statements and cash flow statements;
• Meet financial objectives by forecasting requirements, preparing annual corporate budgets and scheduling expenditures to ensure more realistic projected cash flows;
• Maintains accounting controls by establishing a chart of account and defining accounting policies and procedures;
• Prepare monthly dash boards for the management that are valuable to make strategic decisions;
• Close monitoring and analyzing accounting data and ensure that data entries are made according to the budgeted head of accounts;
• Perform departmental level variance analysis by comparing actual results with budgeted;
• Coordinate with clients on monthly basis to discuss the transactions and to prepare reconciliation of the balances;
• Manage and oversee daily operations and cash flow requirements;
• Handling Income Tax and Sales Tax Matters and making correspondence with the competent authorities;
• Reconciliation and updating of bank accounts on daily basis;
• Electronic filing of Income tax statements and sales tax returns with legal Authorities;
• Electronic filing of personal Income Tax returns of Directors and other Executives;

I joined Arshad Raheem & Co (AR & Co) Chartered Accountant as Assistant Audit Manager Just after the completion of my articles from Hameed Khan and Co, Chartered Accountants.
During my stay at AR & Co i was responsible for portfolio of 120 clients with 30 audit staff; which requires high managerial skills. Provision of quality services in the field of financial reporting, audit and taxation was our main aim. Clients are mostly from following industry sectors:
• Textile units
• Automotive Industry
• Manufacturing concerns
• Software houses
• Stock exchange brokerage house
• Service Providers
• Construction
I performed following kinds of managerial activities to handle above versatile industry sectors:
• Strong working and best file preparation for Quality Control Rating (QCR) as conducted by Institute Of Chartered Accountants Of Pakistan.
• Initial planning of the job and identifying risk areas during the process;
• Assessment of control risk and designing the tests of controls for specific areas in consultation with the engagement manager.
• Designing the substantive procedures in consultation with the engagement manager
• Performing the test of control and substantive procedures highlighting the issues/ matters
• Discussions with the clients regarding the various accounting or other issues/ matters identified during the assignment
• Reviewing the work done by the team members and getting it reviewed by the engagement manager and partner
• Extensive application of the International Financial Reporting Standards (IFRS) and preparation of financial statements in compliance therewith
• Preparation of other deliverables, such as, management letter identifying control weaknesses, its implications and recommendations.

During the course of my stay (From April 01, 2003 to March 31, 2008) in Hameed Khan and Co, Chartered Accountants, a member firm KS International which is one of the top ranking firms’ worldwide, I groomed myself from a junior trainee to supervisor level.

During the period of five (05) years with the firm, I was involved in various assignments in Audit & Assurance Division. The various sectors I worked in ranged from manufacturing industry to the service providers and the distribution companies. The assignments include full scope audits, limited reviews, agreed upon procedure, special certificates in accordance with the regulatory requirements etc.
During my training tenure at Hameed Khan and Co, Chartered Accountants, Lahore, I performed following major assignments:

Business Assurance Services
• Asim Textile Mills Limited-(Listed On Stock Exchange)
• Punjab Cotton Mills Limited-(Listed On Stock Exchange)
Agreed Upon Procedures
• Wire Manufacturing Industry Limited
• Cool Industries (Private) Limited
• Premier Trading Services (Private) Limited
• Varioline Intercool Pakistan (Private) Limited
• Ashraf Sugar Mills Limited (Cost Audit Assignment)
Special Assignments
• Provident Fund
• Workers Profit Participation funds