Finance Manager
Hattan Investments LLC
Total years of experience :11 years, 1 Months
⮚ Monitor the day-to-day financial operations within the company (payroll, invoicing, and other transactions)
⮚ Prepare weekly, monthly and quarterly management reporting.
⮚ Participate in strategic data analysis, research, and modeling for senior company leadership
⮚ Support project analysis, calculation of Internal Rate of Return and Enterprise Value for the Projects
⮚ Manage the company's financial accounting, monitoring, and reporting systems.
⮚ Ensure compliance with accounting policies and regulatory requirements
⮚ Review financial statements for the submission of external auditors.
⮚ Review accounts payable and signing the invoices till AED 50, 000 before proceeding to the payment.
⮚ Prepare and organize supporting documents and information for the external auditor to complete the audit process as per IFRS.
⮚ Analyze the statement of financial performance and statement of financial position and give suggestions/improvements to higher management.
⮚ Verify Trial Balance reports and submit to external auditors.
⮚ Liaise with the external auditors during the audit process;
⮚ Verify Payroll Control Sheet before processing the salaries
⮚ Verify financial statements for the financial year on presentation by external auditor and provide recommendations/suggestions to the CEO, as deemed necessary.
⮚ Review final audited accounts and take necessary actions against this
⮚ Review the VAT report and submission to Federal Tax Authority.
⮚ Preparation of Financial Plan for the company and control the cash flow.
⮚ Analysis of existing internal controls and recommendation / implementation of improvements
⮚ Proactively drive improved MIS reporting with the assistance of the accountants.
⮚ Leads the preparation of accurate monthly, quarterly and yearly statutory reports.
⮚ Ensure that all invoices are processed in a timely and accurate manner by the team.
⮚ Oversees junior staff, mentoring, developing, training. Working out a development plan for each of them.
⮚ Consolidate and analyze financial data (budgets, income statement forecasts etc.) taking into account company’s goals and financial standing.
⮚ Provide creative alternatives and recommendations to reduce costs and improve financial performance
⮚ Assemble and summarize data to structure sophisticated reports on financial status and risks
⮚ Develop financial models, conduct benchmarking and process analysis
⮚ Track and determine financial status by analyzing actual results in comparison with forecasts
⮚ Provide recommendations on all procurement related issues, plans, reports and training.
⮚ Ensure the timely receiving of supplier invoices and payments.
⮚ Consult with management to guide and influence long term and strategic decision making within the broadest scope.
⮚ Drive process improvement and policy development initiatives that impact the function
⮚ Verification of Audit Report, written reports to management highlighting the issues on internal control system including financial implications and recommendations to mitigate the associated risks
⮚ Preparation of monthly budget for operation, maintenance and purchases by consolidating the requirements received from all departments.
⮚ Budgeting and forecasting of CAPEX (Capital Expenditure) and OPEX (Operational Expenditure)
⮚ Identify the variances between actual and budgeted financial results at the end of each reporting period.
⮚ Summarizes the budgets and submit for recommendations for the approval of funds requests.
⮚ Review and approval of purchase requests.
⮚ Scrutinizing the purchase orders before proceeding to suppliers.
⮚ Involving in the planning and development of new projects and analyzing the profitability.
⮚ Scrutinizing the invoices against the supporting documents before proceeding to accounts payable department.
⮚ Inventory audit, approving transfer of inventory, issue of inventory to sites for the maintenance works and getting job completion sheet for approval.
⮚ Support financial controller with financial reporting and analysis for the retail business
⮚ Support the development of monthly financial forecasts that accurately predict the store performance.
⮚ Analyze and interpret the variances with prior year’s performance.
⮚ Assist in monthly financial close, deliver accurate financial results including comprehensive analysis for the key expenses and balance sheet items.
⮚ Analysis financial information (Eg: Revenue, Expenditures, and Cash Management) to ensure all operations are within the budget.
⮚ Prepare monthly expenses report for the reviews to ensure the financial targets are being achieved.
⮚ Analyze sales, financial, costing and operational data and extract and define relevant information.
⮚ Assist in reviewing costs and performing cost benefit analysis.
⮚ Monitor variances and discrepancy follow up.
⮚ Provide effective counsel and analysis to assist the company in meeting established financial and profit objectives.
⮚ Develop company’s inventory management strategy with the aim of controlling costs within the budgetary limits, generating savings, rationalizing inventory.
⮚ Secure accounting related documentation such as financial statements, journal entries, cheques, and invoices
⮚ Provide the management board with reports containing the factors that affect cost or profit of goods and services
⮚ Implemented a policy to review one month sales report to analyze product movement before proceeding the request.
Consolidate and analyze financial data (budgets, income statement forecasts etc.) taking into
account company’s goals and financial standing.
⮚ Provide creative alternatives and recommendations to reduce costs and improve financial performance
⮚ Assemble and summarize data to structure sophisticated reports on financial status and risks
⮚ Develop financial models, conduct benchmarking and process analysis
⮚ Track and determine financial status by analyzing actual results in comparison with forecasts
⮚ Provide recommendations on all procurement related issues, plans, reports and training.
⮚ Ensure the timely receiving of supplier invoices and payments.
⮚ Consult with management to guide and influence long term and strategic decision making within the
broadest scope.
⮚ Drive process improvement and policy development initiatives that impact the function
⮚ Verification of Audit Report, written reports to management highlighting the issues on internal
control system including financial implications and recommendations to mitigate the associated
risks
⮚ Preparation of monthly budget for operation, maintenance and purchases by consolidating the
requirements received from all departments.
⮚ Budgeting and forecasting of CAPEX (Capital Expenditure) and OPEX (Operational Expenditure)
⮚ Identify the variances between actual and budgeted financial results at the end of each reporting period.
⮚ Summarizes the budgets and submit for recommendations for the approval of funds requests.
⮚ Review and approval of purchase requests.
⮚ Scrutinizing the purchase orders before proceeding to suppliers.
⮚ Involving in the planning and development of new projects and analyzing the profitability.
⮚ Scrutinizing the invoices against the supporting documents before proceeding to accounts payable
department.
⮚ Inventory audit, approving transfer of inventory, issue of inventory to sites for the maintenance works
and getting job completion sheet for approval.
Reports to: Finance Manager
Work Exposure
⮚ Planning, Studying, and collecting data to determine costs of business activity such as raw material
purchases, inventory and labor.
⮚ Analyzing data collected and recording results
⮚ Analyzing changes in product design, raw materials, manufacturing methods or services provided, to
determine effects on cost
⮚ Analyzing actual manufacturing costs and preparing periodic reports comparing standard costs to actual
production costs
KEY ACHIEVEMENTS
PERSONAL ASSESSMENT
⮚ Recording cost information for use in controlling expenditures
⮚ Analyzing audits of costs and preparing reports
⮚ Making estimates of new and proposed product costs
⮚ Providing management with reports specifying and comparing factors affecting prices and profitability
of products or services.
⮚ Maintaining Cost Accounting System
⮚ Assisting in Month end close of the General Ledger
⮚ Conducts physical inventories and monitors cycle count program
⮚ Reconciles finished goods inventories
Reports to: Cost Accounts Manager
Work Exposure
⮚ Make estimation of new and proposed costs of production.
⮚ Collect and analyze information to determine costs of business activities such as the purchase of raw
materials and costs of production process
⮚ Make analysis of collected information as well as keep records of their findings and results.
⮚ Analyze changes on the methods of production, goods and services provided, and even raw materials to
know how they affect cost
⮚ Analyze and prepare reports periodically for the difference between actual production costs and standard
costs
⮚ Maintain the documentation of data and any statistical arrangement in cost analysis
⮚ Identify possible opportunities for improving the efficiency of production with the main aim of making
profit
⮚ Assist in the preparation of the annual budget to make sure that standard costs for all productions are
calculated in line with budget consideration
⮚ Assess the company’s scale of preference to analyze the opportunity costs of given operations
⮚ Advise the management in terms of financial issues
⮚ Maintain accurate job aids for all duties assigned
✓ Key member of VAT Implementation team and possess sound knowledge of VAT Decree-Law No. (8)
of 2017 and Executive Regulation of the Federal Decree - Law No (8) of 2017 on Value Added Tax;
✓ Effective implementation cost control and cost reduction policies in power industry.
✓ Successfully implemented the variance analysis system at retail sector and drastic improvement in the
write off inventory value.
✓ Implemented stock turnover ratio system at retail sector for evaluating excess inventory.
✓ Cost reduction applied in Food & Beverages and Transportation.