Senior Manager Group Financial Control & Reporting
OBEIKAN INVESTMENT GROUP
Total years of experience :14 years, 1 Months
•Proven experience of managing various consumer brands at The Bricks (Canada) as a business consultant from Deloitte & Obeikan Bookshop.
•Well versed in managing the retail stores - using store management techniques like;
a.Sales per Saudi riyal of salaries paid
b.Sales per sales representative
c.Sales per square footage
d.Cart abandonment rate
•Well versed of the challenges faced by retail stores, brand management and product merchandising.
•Managed the performance of about 80 stores in various locations using store performance metrics companies as a Senior Manager Financial Control
aSales per unit of Capital invested
bSell through %
ceturn on Capital employed
dCalculating -GMROI - (Contribution or Gross profit margin per unit of investment in the inventory which means Average inventory)
eReturn on Capital Employed
•Possess valuable experience of analyzing operational efficiency of branches using following tools in particular.
oDetailed brand image study and identification of Cash cows.
oKPI reporting
oReporting on Brand/product costing & margin analysis
oEconomic factors study
oEstablishing internal controls and reporting structure.
oDepartmental re-organization and restructuring according to management policies
oAnalyzing new profitable ventures, brands and JV and other businesses.
oStandardization of departmental processes and controlling thereafter.
•Vast experience of showroom ERP implementation both back office and POS. (SAP, BANN, FOCUS RT, Axapta retail).
•Proven track record of maximizing shareholder’s wealth, via maintaining operational effectiveness and profitability through monitoring & control.
•Vast experience of implementing internal controls & achieving operational efficiency in large owner managed groups & complex multibillion dollar multinational businesses in UK, Canada, Saudi & Pakistan.
•Proven experience of setting up financial and operational audit functions for retail operations.
•Strong at managing work under extreme pressures and achieve stringent deadlines.
•Proven track record of implementing and managing tools like, Long term business plans, Budgeting and Forecasting Function, Standard costing, Brand/Product management in retail chain, shop floor planning.
EXPERIENCE
A Multi National & Multi Billion Dollar group which has presence in various countries like Spain, Lebanon, UAE, Germany, Norway and USA.
Achievements
•Successful completion of Process re-engineering in stores to achieve operational efficiency.
•Achieved 10-15% reduction in salary cost by successfully implementing planning tools.
•Achieved 20% increase in turnover by applying store management techniques, linked with detailed product costing & margin analysis.
•Around 15%-20% saving in financial & other cost.
•Successful implementation of ERP & BI system in stores, Dash Board for Board reporting and standard costing system.
•Successfully setup budgeting & forecasting & achieved targets for stores.
•Recovery of 20MSR from store working capital.
•Successful completion of group and individual company audits
Job Responsibilities
•Responsible to manage store performance metrics and overcome bottlenecks.
•Responsible to review the store performance & analysis reports for the presentation to board.
•Attend monthly performance review meetings.
oUpdate & comparisons on budgets and cash flow forecasts.
oProduct profitability analysis, break even analysis
•Review complete consolidation package including complete set of financials every month.
•Team leader of working capital management committee
•Responsible to oversee the Quarterly and Annual audits
•Project Manager Group Automation committee.
•Dealing with Bankers and negotiating finances.
•Implement standard costing system in business units.
•Perform profitability appraisal of new and existing stores.
•Responsible to manage group projects under development in Spain and other countries.
•Compliance with IFRS
DELOITTE CANADA
Audit & Assurance Manager \[April 2007 to September 2008\]
ACHIEVEMENTS
• Achieved high performance standards at The brick stores
• Successful implementation of the performance metrics for the Brick Store Canada
• Successfully completed the Zero based budgeting and costing analysis of various products at the Brick Stores Canada which helped client establishing competitive pricing strategies consequently eliminate losses.
• Achieved above standard ROCE on Sawridge Truck stop and convenience stores - Edmonton Canada.
JOB RESPONSIBILITIES
• Responsible to handle all aspects of company's financial & operational audits, identify areas of improvement and suggest solutions to improve operational efficiency.
• Worked on implementation of the internal controls on the company's accounting system and operations.
• Delivering lectures on various projects to help developing skilled workforce, on the job training and help in developing controlled environment.
• Assume full responsibility of developing audit approach for clients based on their system testing and business risk analysis.
• Help board of directors to better control the organization by ensuring tasks are performed in accordance with the management policies and procedures and prevailing regulations.
• Provide monthly and quarterly reports to board of directors regarding following;
o OPERATIONAL EFFECTIVENESS & EFFECIENCY
* Operational effectiveness of internal controls & compliance with policies and procedures
* Reporting on effectiveness of Retail operations and monthly and bi-monthly audits of branches on rotation basis.
* Ensure price competitiveness of retail products & Audit of effectiveness of marketing activities
* Product analysis and comparisons & Benchmarking of the production activities and other operations
* Audit of the effective operation of labor planning tools
* Departmental process flow charting, and documentation of policies and procedures.
* Audit of the operation efficiency of various departments especially the procurement operations.
* Preparing the risk matrix & Ensuring the accuracy of Budgets & forecast
* Ensuring 5-10 year Business plan for subsidiaries in place and acted upon * Ensuring tasks and procedures are automated, implementation of ERP & operability of individual module
* Routine audits to ensure accuracy in data transmission and effective bridging of information system
* Ensure effectiveness of reporting on long term construction contracts
* Cost component audits in turn adapt effective pricing strategies and keep on top of market competition.
o FINANCIAL MANAGEMENT
• Accuracy, quality and timeliness of financial reporting.
• Ensure dash board is in place and provide reports tailored according to the board of director's specific needs for Strategic decision making.
• Ensure board reporting system is in place including adequacy of board reporting package on quarterly and monthly basis.
• Ensuring reporting on standard costing and variance analysis and making sure variances are investigated.
• Ensure proper accounting of all the events in subsidiaries including the audits of o Revenue cycle, Procurement and inventory management cycle, Budgeting, Planning and control, Human resources management and Payroll function
o Fixed Assets & Working capital management, Debt & Financial cost management & Financial statement audits
o Financial audits of branches including inventory, cash, sales, point of sale management.
KOUNNIS & PARTNERS PLC (London, UK)
Audit & Assurance Senior: February 2006 to April 2007
ACHIEVEMENTS
• Value addition to the "internal reporting package" of my portfolio of clients.
• Implementation of point of sale system.
• Implementation of internal controls on the sales and cash reporting guidelines, payroll, procurement, bank and cash management.
• Worked on the preparation and effectiveness of the dash board
• Tailored key management reports for presentation to the board keeping in view their specific requirements.
• Provided key technical assistance for the transition of accounting data from one accounting package to another.
DEAN SULLIVAN Chartered Certified Accountants (London)
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\[Audit and accounts senior: July2003 February 2006\]
DELOITTE (PAKISTAN) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
DELOITTE (PAKISTAN) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
\[Audit & Assurance Junior to Senior May 2001 to June 2003\]
CAR CAPITAL (PAKISTAN- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
\[Junior Accountant to Senior Accountant June 1998 to November 2000\]
CFA - PART 1 completed December 2012. CFA PART 2 inprogress
CPA - USA
ACCA - UK
• B.COM (University of Karachi 1998)