Senior Accountant
Abu Dhabi National Insurance Company
مجموع سنوات الخبرة :14 years, 11 أشهر
Budgeting - Producing a 3 year Perpetual Business plan & Financial Projections as part of Annual Budget
Exercise using Hyperion Planning
Financial Analysis
* Preparing monthly P&L Reports of each individual Revenue center with detailed analysis on variances
with budget & YOY actual.
* A quarterly analysis of listed competitors’ audited financials for benchmarking ADNIC's Insurance and
other Financial KPI’s with the UAE insurance industry. (E.g. GPW, NPE, Expense Ratio, Combined
Ratio etc.)
* Detailed Expense Analysis report for senior management for more effective cost control.
* Preparing monthly / quarterly reports for the senior management to monitor the net receivable
balances by days outstanding.
* Preparing various analysis reports for the management & Insurance Authority to report net solvency
ratio based on days, Insurance / Reinsurance, Inside / Outside UAE Receivable.
Cash Management & Treasury
* Producing weekly cash forecast reports to maximize ADNIC's cash utilization for Investments.
* Preparing Bank Operating Mandate and Relationship management with all of ADNIC's banking
partners.
* Managing Tender & Performance Bonds.
Portfolio Management
* Managing the portfolio of over 200 Insurance Companies and Broker Accounts for various businesses
across Aviation and marine, Engineering & Construction, Property etc.
* Managing receivable & payables function and cash allocation
* Identifying the Bad Debt accounts and optimum treatment for the balances by coordinating with
underwriting department and issuing notice of cancellation for the policy coverage.
* Reconciliation of General Ledger, Bank ledger and Sub ledger accounts.
* Booking of journal entries for cash and bank receipts, payments for premium, claim and commissions to
third parties and also account for cash disbursement.
* Risk Management and Aging analysis for the third party Insurance companies and brokers.
* Accounting for cash and wire disbursement for housing loan, cash advances and petty expenses to
employees.
* Managing the petty cash accounts allocated to the team members across various branches in
Insurance companies Reconciliation for ADNIC with all of its reinsurance companies.
Optimum treatment of open items.
Coordinating with ADNIC underwriting and Claims department and Reinsurer’s technical department for
processing of financial documents.
Assisting in implementation of ERP Oracle Financial R12 (OF) for all Financial modules (General ledger,
Account Receivable, Account Payable, Fixed Assets, Cash management, Investment)
Created various masters (Bank Master, Fixed Asset Master, Customer/Supplier Master) to synchronize old
data & daily processing with new system (OF)
Data migration and data cleansing support including reconciliation of all financial related data (AR/AP, GL,
Investments, FA etc.)
Integration between Legacy System. Front end System & Oracle Financial and reconciliation of migrated data.
Financial analysis and exceptions management including assisting ADNIC in identifying the unreconciled items
and resolve them with the support of underwriting and claims department.
General accounting and support closing activities
Assisting in the data entering in both systems during parallel run.
Trial Balance Reconciliation
Co-ordinate with IT department for software applications and reporting requirements
Validation of accuracy and completeness of ERP system implementation across the organization.
Team Member for Balance sheet, Inter Company and Bank accounts reconciliation of Middle East Operations
of the world’s largest Insurance and Financial Services Company. The objective of the engagement was to
enhance the efficiency and reliability of reconciliations process and involved preparation of accounts
reconciliation, exception reporting and research and suggesting optimum treatment of open items
Responsible for financial accounting and reporting that has material impact on key components of the client’s
financial statements.
Performed various accounting tasks such as General Accounting, Invoice Processing and Reconciliation.
Ensured that assigned monthly, quarterly and year-end reporting targets are met.
To get feedback from clients to make services better and take preventive measure for negative feedback if
any.
Maintain documentation and providing quality sessions to the team members to identify/share and support
operational improvements
Performing Bank & Balance Sheet reconciliations for one of the biggest US based Logistics Company.
Handled the complete accounting cycle, including opening, posting entries and closing of accounts and
preparation of various accounting reports.
Handled accounts payable, accounts receivable and payroll functions.
Developed, and maintained all aspects of business accountancy, marketing, and data processing of company.
Prepared financial statements, profit and loss accounts, balance-sheets and schedules.
Maintained accounts, recording journal entries and auditors statements and various administrative
documents.