Nauman Naeem

Reporting directly to CEO. Currently leading a team of accountants in all subsidiaries/affiliates. My key responsibilities are as under:

Financial Reporting and Accounting:
-Responsible for filing of VAT returns and Withholding tax for all group companies.
-Introduced the concepts of financial reporting, closing of financials, budgeting, forecasting, KPIs, effective accounting controls and successfully implemented across the group along with the underlying policies and procedures.
-Review monthly, Quarterly and Annual Reports and manage the internal and external review for these documents.
-Supervise the accounting functions performed by the Finance Teams in subsidiaries which includes consolidation and checking of daily vouchers, reconciliations, revenue and cost centers supervisions, provisions against past dues, inventory and fixed assets management etc.
-Maintained a proper system in place for receivables and sales invoicing.
-Assist in the coordination of annual audit and quarterly review activities of external auditors
-Maintain calendar to inform parties of necessary deadline adherence for financial close, BOD package, press release etc.
-Drafting and implementation of policies and manuals relating to fixed assets, Accounting, Authority matrix, inventory, organizational structure, and equipment purchases via letter of credits etc.
-Reconciliations with Aramco Portal and addressing all queries relating to receivables, ESVs, material status etc

Budgeting, Financial modelling for growth team
-Member of growth team and providing valuable input in the form of financial models, cash budgets, revenue and cost accounting models etc.
-Assisting the management in the preparation of year end operating budgets, projections and provide variance report on month-end with detailed explanations where required.
-In the process of finalizing relative profit thresholds in order to ascertain potential in each business unit.

New projects
-In-charge of (i) IFRS implementation (ii) ERP accounting system implementation across the Group.
-Monitor and ensure timely identification and compliance with evolving accounting guidance, provide IFRS interpretation and prepare technical memorandums that document issues in a clear, logical and comprehensive manner
-Working towards VAT- Group level, gearing issues, IFRS-15 revenue disclosures.

My key responsibilities were as under:
-Implemented Internal Financial Reporting Standards (IFRS).
-Financial Reporting and Accounting
-Developed and successfully delivered Budgeting Model 2017.
-Successfully consolidate and presented Financial statements for the whole Group.

My key responsibilities are as under:

Budget Preparation and Analysis
-Collating the required information / assumptions from respective departments, construct budgets, business plans and financial feasibilities and cash flows.
-Provide a support service by working with all departments and the management team to help make financial decisions.
-Prepare variance analyses and comparisons related to key financial matters like cash management, capital expenses, etc.
-Prepare the financial models to support feasibility studies and analyses of new ventures/ key expenditure accounts.
-Preparation and analysis of project/investment appraisal using advanced techniques i.e. NPV, IRR, payback period etc.
-Ensure that all requested expenses are within the budgeted and properly approved as per the Group’s Authority Matrix.
-Conducted surveys relating to sale prices of villas, business expansion strategies including introduction of retail outlets to the project & water sports activities etc and translation of data into financial models for feasibility studies

Financial and Management Reporting
-Prepare financial statements and forecasting reports along with detailed schedules and analysis within agreed timeframes.
-Prepare periodic Management Reports providing variance analysis for business results highlighting the reasons for variances.
-Managing working capital and managing funds to maximize its utilization.
-Supervising various accounting tasks including IFRS compliance, banks’ reconciliations, payables, revenue accounting, fixed assets register, development cost etc on daily basis to ensure routine accounting activities are regularly performed.
-Designing/implementing internal controls relating to financial reporting.
-Coordinate with the internal and external auditors and provide them with the necessary reports and information as required.

Process Improvement and Other Tasks
-Covenants Monitoring & Bank Reporting on regular intervals.
-Internal audits of subsidiaries, inventory valuations and surprise examinations of books of accounts.
-Ensure adherence to underlying Anti money laundering policies and procedures on transaction basis.
-Member of a technical team (being a finance representative). Main task include testing the integrity of data, validating assumptions, applying discounted cash flow/IRR techniques to the model and deliver presentations (if needed).

While working with EY Bahrain, I had the opportunity of performing, in an excellent corporate environment, following professional tasks were performed in respect of assurance services:

-Successfully lead External/internal audits of Islamic Banks, real estate development companies, Hospital and five star hotels
-Due diligence and valuations for mergers and acquisitions
-Risk management deliverables, Liquidity reports, Net Asset value calculations and anti money laundering procedures.
-Initial planning of job, identifying significant risk areas and agreeing the time deadlines.
-Involved in preparation, examination, analysis and review of financial statements.
-Review of compliance with
i)International Financial Reporting Standards (IFRS) or
ii)The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) standards
-Examine, analyse and review accounting systems, target investigation and monitoring control procedures.
-Planning the audit strategy for various assignments and ensured compliance underlying procedures during the audit.
-Prepare and review documentation according to EY Audit Methodology; formulate conclusion and reports to Partners.
-Provide suggestion of improvement in client's business process including internal controls to increase the process efficiency.
-Extensive exposure of international accounting and auditing standards leads me to sort out technical accounting issues.
-Establishing good relationship with the client’s management and assisting the firm in promoting client relations.
-Major clients include
--Al Salam Bank-Bahrain and related real estate development companies
--Bahrain Saudi Bank
--Investcorp Bank (Hedge Funds)
--Durrat Al Bahrain
--Bahrain Specialist Hospital

Worked as an Audit Supervisor in “ Assurance ” group reporting to the Senior Managers and Partners. Responsible for:

-External /Internal Audits of Banks, Manufacturing concern, Oil &Gas and insurance (claims).
-Internal audits and assignments mainly relating to and policies & procedures
-Manage resources and execute day-to-day activities of audit as per IFRS and local laws
-Key role in scheduling, conducting and organizing audits of full complexity for conformity
-Understand complete accounting and internal control system of clients
-Gauging levels of financial risk within organizations
-Observe inventory count and check its valuation
-Liaising with managerial staff and presenting findings and recommendations
-Co-ordinate with various personnel related to legal, actuarial for critical reportable matters
-Checking that financial reports and records are accurate and reliable.
-Ensure financial statement amounts are appropriately classified, accounted for and disclosed in conformity with IFRS.
-Major clients include
o MCB Bank
o United Bank Limited (UBL)
o New Jubilee Insurance
o Nishat Textile and D.G.Khan Cement