Muhammed Shamas Asharaf, Finance Manager

Muhammed Shamas Asharaf

Finance Manager

IMTECH SUIR SAUDI ARABIA LIMITED

Location
Saudi Arabia - Riyadh
Education
Master's degree, CERTIFIED MANAGEMENT ACCOUNTANT (CMA) -FINAL
Experience
16 years, 5 Months

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Work Experience

Total years of experience :16 years, 5 Months

Finance Manager at IMTECH SUIR SAUDI ARABIA LIMITED
  • Saudi Arabia
  • My current job since January 2018

1 ) Directed financial operations including budgeting, forecasting, and financial planning and
analysis.

2 ) Oversaw the preparation of financial statements and reports in compliance with
regulatory guidelines and company policies.

3 ) Revenue finalization and cost reconciliations of all projects and monthly reports to CFO as
per IFRS standards.

4) Associated with JV partners in Qatar and Oman and successfully executed multiple
projects.

5) Managed the accounts payable and receivable processes, ensuring timely payments and
collections.

6 ) Implemented cost-saving initiatives and streamlined financial processes to improve
efficiency.

7 ) Manage and supervise the Project cash flow, Purchase Procedures, Sales Procedures,
Payroll Functions, Cost control functions, Petty cash management and reconciliation etc.

8) Conducted variance analysis to identify areas for cost reduction and revenue
enhancement.

9) Collaborated with department heads to develop and monitor departmental budgets.

10 ) Provided financial insights and recommendations to senior management for strategic decision-making.

11 ) Managed relationships with external auditors and ensured timely completion of audits.

12 ) Supervised a team of finance professionals, providing guidance and support to achieve
departmental goals.

13 ) Developed the internal controls to safeguard company assets and mitigate financial risks.

14 ) Participated in the development and implementation of financial policies and procedures
.
15 ) Ensured compliance with Saudi Arabia VAT, ZAKAT, GOSI Regulations.

16 )Handled the project finance including LC, BG, Invoice discounting & Refinances and
settlements etc.

17 ) Conducted financial due diligence for mergers and JV’S including financial modelling and
analysis.

18 ) Represented the finance department in cross-functional meetings and projects to support
organizational objectives.

19 ) Stayed up-to-date on industry trends and best practices in finance and accounting.

20 )Provided training and development opportunities for finance team members.

21) Participated in strategic planning sessions to align financial goals with overall company
objectives.


22 ) Communicated financial results and insights to stakeholders, including senior
management and board of directors.

23 ) Led process improvement initiatives to streamline finance and accounting processes.

24 ) Managed vendor relationships and negotiated favorable terms.

25 ) Implemented financial systems and software to improve efficiency and accuracy.

26) Ensured compliance with international financial reporting standards (IFRS) and other
regulatory requirements.

27) Handled different type of insurance for the projects, employees and vehicles.

Manager - Finance and Accounts at SEPAM MIDDLE EAST
  • Qatar - Doha
  • March 2013 to January 2018

1 ) Manage and generally supervise - Finance & Accounts, Operations, Procurement and
Treasury.

2) Managed FPNA for all projects and handled month end close activities of all locations.

3 ) Revenue finalization and cost reconciliations and monthly reports to CFO as per IFRS
standards.

4 ) Monthly flash results analysis and reporting the numbers to CFO.

5 ) Annual budget preparation, budget analysis and budget presentations with detailed
commentaries.

6 ) P&L analysis and business intelligence reporting to CFO.

7 ) AP and AR Ageing analysis report for the Quarterly business forecast.

8) Managed entire scope of tasks entailing payable work & all types of payments, accounts
receivables.

9 ) Reconciliation of suppliers, bank accounts, intercompany accounts and other balance
sheet items.

10 ) Preparation of reports for Evaluation of monthly performance, sales, and profitability of
operations.

11 ) Managed payroll for the projects up to 400 employees approx. and paid out timely.

12 ) Preparation of monthly cost package for the projects, submission to client and get
reimbursement.

13 ) Prepared financial and cost budget for the projects and keep track on actuals and
variance analysis.

14 ) Part of internal restructuring such as elimination of intercompany balances, revenue
recognition, capital contribution, Dividend distribution, work in progress allocations etc.

15 ) Manage and supervise the Project cash flow, Purchase Procedures, Sales Procedures,
Payroll Functions, Cost control functions, Petty cash management and reconciliation etc.

16 ) Handled LC, BG, interest on LC finances & Refinances and settlements.

17 ) Managed to keep accounts updated and track on costs.

18 ) Participating in tender bid for commercial aspects and viability of new projects.

19 ) To lead and conduct external audit with Big4 and finalize audit

20 ) Various accounting analysis made on time to time basis to know facts and figures.

ASSISTANT MANAGER -FINANCE AND ACCOUNTS at EXL SERVICES
  • India - Kerala
  • November 2007 to January 2013

1 ) Supervised a team of 11 members Accounts Payable Team.

2 ) Take ownership of proactive service delivery in accordance with SLA.

3 ) Handle AP invoices exceptions.

4 )Knowledge in vendor Master creation.

5 ) Frequent connect with the client and resolve issues and suggest changes.

6) Keenly involved in the process improvement measures for the team.

7) Accountable for Team, Accounting operations and client management.

8 ) Prepare FMEA, Desk procedures (SOP) etc.

9 )Responsible for process migration and stabilization

10) Conduct performance appraisal, rate of the team and provide feedback.

Education

Master's degree, CERTIFIED MANAGEMENT ACCOUNTANT (CMA) -FINAL
  • at CERTIFIED MANAGEMENT ACCOUNTANT -(CMA) - INDIA
  • March 2009

THE INSTITUTE OF COST ACCOUNTANTS OF INDIA (CMA)- FINAL

Master's degree, FINANCE AND ACCOUNTING
  • at Mahatma Gandhi University (kottayam)
  • January 2009

MASTERS IN COMMERCE AND ACCOUNTING

Bachelor's degree, FINANCE AND ACCOUNTING
  • at Mahatma Gandhi University (kottayam)
  • May 2006

BACHELORS IN COMMERCE

Specialties & Skills

International Financial Reporting Standards
Treasury Management
Account Finalization
Project Accounting
Financial Planning and Analysis
JD EDWARDS
EPC Accounting
Treasury Management
Leadership & Management
Construction Project Accounting
Finalization of book of Accounts
Budge􀆟ng & Cash Flow Management
Stock & Inventory Accounting
Outsourcing
Payroll Accounting
Procurement Management
Audit & Compliance/ Taxation
Budget Variance Analysis
Financial Planning and Analysis
Payables/ Receivables Accounting
Cost Control & Credit Control
Knowledge in Project controls
Financial Reporting as per IFRS
Bank Facilities Management
Project Finance/ Supervision
Revenue Recognition
Business Performance & Strategy
Fixed Assets Accounting
Knowledge in Project Bid Works
Cash and bank reconcilia􀆟on
construction Accounting
VAT/TAX/ZAKAT/ WHT Management
JV/Merger/Acquisitions
Payroll Administration
Mitigation Strategies
Team Management
SAP ERP
Contracts Management
TALLY ERP
Client Relations
Intercompany Accounting
Bank LC, Bank Guarantee
Interpersonal Communication
Microsoft Dynamics
Credit Risk Management
Enterprise Resource Planning (ERP)
Business Development
Government Relations
Shared Services
Auditing Standards
ORACLE -ERP
MS OFFICE
Real Estate Accounting
MEP works Accounting
IT/Software/BPO Accounting
OIl and Gas Accounting
Facility Managament Accounts

Languages

English
Expert
Malayalam
Native Speaker
Hindi
Native Speaker
Arabic
Intermediate

Training and Certifications

THE INSTITUTE OF COST ACCOUNTANT OF INDIA (CMA -INDIA) (Certificate)
Date Attended:
March 2012

Hobbies

  • CRICKET , FOOTBALL