Director of Finance and Business Support
The House Hotel by Kerten Hospitality
Total years of experience :19 years, 5 Months
• Successfully implemented back-office accounting system SUN from Scratch, contributed in financial area of opera FO system, Bayyan the payroll system and Jana the inventory control system.
• Designed the format for P&L, BS and other management & owners related reports in vision.
• Lead the project for fixed assets inventory i.e., listing, tagging, categorizing and depreciation through FA system.
• Lead the project of assigning a bank, opened accounts for operation and revenue, brought credit card machines (visa & amex)
• Lead from finance in the opening of 4 new restaurants in all areas where ever was required
• Monthly Closing as per checklist of Finance Studio within the dead line.
• Developed & helped Director Finance in preparation of annual budget.
• Managed a team of 14 accounting staff and 4 from Purchasing.
• Worked with other departments to shorten the reporting process for monthly closings and improve forecast accuracy.
• Maintained department reporting productivity at the time of 30% shortage of Staff by implementing thorough staff cross training.
• Streamlined Payable department and cleared various last year and pre-opening payments with proper supporting documents.
• Monthly working for Withholding Tax & submission before 10th of every month.
• Worked actively with Director Finance & General Manager to bring the company’s financial up to breakeven point.
• Conducting Monthly training sessions for accounting team as per reporting procedures prescribed by the Training Manager.
• Supervised and trained the team in performing at optimal level.
• Streamlined daily activities and introduced process improvement to boost efficiency.
• Implement effective financial controls on on-going projects of the hotel.
• VAT: Since its implementation attended various training sessions and converting it into physical work out. Also, preparing monthly VAT Returns
• Assist & reports to Director Finance & General Manager.
• Responsible for the appointment, training, coaching of accounting staff.
• Ensures timely and accurate completion of Daily Sales, Labor, Food Cost, Beverage Cost, Complimentary Guest Checks and Cashier Over/Short reports. Ensures the reports are being published to operational departments daily.
• Reviews all revenue adjustments, paid out vouchers and F&B complimentary guest checks. Checks for reasonableness and proper authorization. Processes approval and/or corrective action comments as warranted. Routes to Controller.
• Responds to communications on an ongoing daily basis. Ensures all paperwork is reviewed each day and prioritized for actions to be taken.
• Reviews and approves all non-F&B invoices for payment. Verifies compliance to purchasing, receiving, contractual terms, G/L coding account distribution, payment discount terms. Identifies any material discrepancies and advises Controller prior to posting for payment. On an ongoing basis, tracks the source of discrepancies, particularly for operating department’s compliance to purchasing and receiving policies.
• Ensures the prompt response and problem resolution of any/all guest requests. Where appropriate, advises the Controller of issues in order that he/she may assist in the immediate resolution and apprises the operating departments of common requests, particularly those of a repetitive nature.
• Ensures flash sales reports for assigned entities are completed timely and accurately, and delivered to corporate management per requirements.
• Ensures timely and accurate deposits of all cash, check and credit card receipts.
• Supervises the month-end financial closings. Assigns and enforces deadlines for all stages of the closing process.
• Ensures journal entries are accurately prepared and posted to the general ledger system.
• Ensures physical inventories are scheduled and taken for food, beverage, operating equipment and other operating supplies per required guidelines.
• Participates in physical inventory annually, reviewing procedures for compliance. Verifies net change entries are balanced to receipts and issues, and perpetual inventory system detail is accurately stated.
• Ensures month-end revenue statistics are compiled by the 2nd day following month-end.
• By the 5th day, all preliminary statements and G/L reports are to be finalized and distributed to the Controller review/approval & By the 8th day, the final month-end packages must be received by Corporate.
• Prepares and/or reviews/approves all balance sheet account analysis and bank reconciliations, complete with supporting back-up. Clears any reconciling items before the following month-end.
• Ensures all year-end front and back office closing procedures are followed per the PMS software company user guidelines. Completes year-end closings per required timing guidelines. Has all relevant account analysis completed for this closing. Prints a detailed G/L and attaches account analysis for submission to internal & external auditors.
• Prepares annual performance review evaluations of salaried/exempt employees who report to the Assistant Controller. Identifies employee strengths/weaknesses.
• Covers basic responsibilities of the Controller during vacations and other absences. Acts as backup approval authority function for check signing, purchase order approval, payroll changes, expense report reimbursement, and credit applications.
• Financial planning and related ongoing advice for the General Manager and Group President.
• Formulating financial targets and budgets in accordance with the strategy determined by the top management and approved by the Board of Directors.
• Overall control of all financial transactions and accountancy matters, including internal audit accounting systems.
• Corporate finance: managing company policies regarding capital requirements, debt, taxation, equity, and acquisitions, as appropriate.
• To preparing annual statements and reports.
• To Supervise and responsible for Assets management of all hotels.
• To prepare budget amendments as needed for approval by the General Manager and Board of Directors.
• Ensuring that all matters pertaining to any applicable taxation (i.e. Zakat; withholding taxes; etc) including planning, payment, legal matters/arbitration are being done in a proper, optimal and timely manner.
• Liaison with the external auditors on the annual audit.
• Oversee the Treasury i.e cash, debt and loan management and investment decisions
• Supervise & finalize Monthly Closing, prepare Income statement and balance sheet.
• Monthly checking of Store inventory, surprise checks and items expiry reports.
• Preparation of annual budget and 5 year’s projections.
• Liaison with Internal & external auditors.
* Preparation of Financial Statements on annual, quarterly and monthly basis.
* Preparation of department wise budget at the start of every financial year.
* e-filling of Income tax and Sales tax on monthly and yearly basis.
* Act as an Liaison with the internal and external auditors.
* Act as an Liaison with the company legal adviser.
* To approve the daily Income audit and recapitulation report.
* To look after all the tax matters of the company and directors i.e. Sales tax, FED, Withholding tax and wealth tax statements of directors.
* Assist in making Cost Control Sheets every month with Cost Controller.
* Preparation of Bank reconciliation statement, daily bank position and fund position and suggest their ultimate usages.
* To look after the Insurance related issues of the company.
* Fixed assets management.
Also, Involved in extension project of the hotel includes 60 new rooms and banquet hall
• Prepare monthly, quarterly and annual consolidated financial statements and reporting these to company's chief financial officer at Islamabad and Group chief financial officer at Dubai.
• Reviewing financial statements of Islamabad & Karachi Marriott Hotel's and reporting the observations thereof.
• Liaison with Internal and external Auditor's of the company. Ensuring the Compliance with the Company's Accounting Framework.
• Prepare projected financial statements, Cash flows (up to 7 years), annual budgets and business plans for banks and financial Institutions.
• Present the management with monthly & yearly required cost and ratio analysis report.
• Prepare the financial modeling and analysis to support the development of long term strategic initiatives and business plans.
• Prepare monthly bank reconciliations statements manage daily funds position & send monthly stock report to various banks.
• Gather information from all units and reporting planned vs actual capital expenditure.
• Actively manage finance related matters including revenue, contribution margin, operating expenses, pricing, asset metrics (inventory/AR) and other operations/process related matters with high predictability, good controls, and emphasis on gross margin improvement initiatives.
• Annual report on Foreign Investments to State Bank of Pakistan.
• Coordinate with the external tax advisors in the preparation of monthly sales tax returns
• Correspondence and dealing with sales tax department and company sales tax lawyer, implementation of applicable SROs and notifications, maintenance of sales tax record and raising sales tax invoices
• Managing imports of all units under centralized system, applying to banks for letter of credits etc., applying and dealing with the concerned Ministries for approval for concessional rates of duties and taxes, correspondence and coordination with the beneficiaries and clearing agents, evaluating proposals, costing of imported consignments etc.
• E-filling of Annual Income tax return and quarterly tax returns.
• Applying for approvals for exemption certificates and correspondence with the Tax department and Company tax Lawyer thereof.
• Monthly report of Fixed Assets Additions and Deletion, Accounting & Tax depreciation schedules. Comparison between Approved Capital Expenditure and Actual Capital Expenditure.
• Managed accounts receivables, payables, reconciling accounts, general ledgers, monthly reporting and financial analysis.
• Managed company's insurance policy towards employees and fixed assets.
• Responsible for the management of the Company's insurance and risk management program.
• Review existing procedures and practices to identify scope for improved controls.
• Training the juniors, Interns and new Associates as per the requirement of the Management.
• Negotiated banking arrangements and financing from financial institutions.
• Maintaining, updating, modification and customization of financial modules of the accounting system regularly.
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