Chief Financial Officer
GAS EXPRESS PK
Total years of experience :12 years, 10 Months
Gas Express PK is the subsidiary of Gas Express LLC which is the largest Circle K Franchisee in the United States. Circle K's success in the convenience retailing industry spans more than sixty years and it is one of the most widely recognized convenience store brands, known worldwide for quality products and great customer service. Our Company's relationship with Circle K ensures continued corporate growth through increased corporate exposure, enhanced leadership, and
buying power.
Key responsibilities include:
1. Direct, plan, or implement policies, objectives, or activities of organizations or businesses to ensure continuing operations, to maximize returns on investments, or to increase productivity via coordination with banking activities, debt servicing, cash transfers, and investment of idle cash funds to increase the profitability ratio.
2. Direct the overall financial plans and accounting practice including federal and State tax in concert with other executives.
3. Development, analysis, and interpretation of statistical and accounting information to appraise operating results in terms of profitability. 4. Other responsibilities and overall responsibilities for providing leadership and strategic direction for the financial and accounting activities and functions. 5. Provides support and input to project financial planning processes including monitoring progress. 6. Overall Financial Operations a. Regular financial reporting (e.g., preparing monthly, quarterly, and annual financial statements), forecasts, planning, budgeting, financial analysis, cashflow management, and procurement to evaluate the progress of the Company.
b. Timely and accurately provide reporting of financial information to internal parties, government regulators and outside agencies.
7. Audit and improve productivity and effectiveness of current processes via reviewing the sales pattern of fuel/Other inventories.
8. Manage and supervise all AR/AP cycles with external partners and customers - including the implementation of accounting and billing systems and controls in co-ordination with vendor/suppliers.
9. Conduct regular audits of expenditures, assets, and liabilities for all locations via delegation/describe the function to team members.
10. Monitor sales transactions in-dept for fuel with standard/approved profit margin
11. Prepare financial reports segment wise with profitability margin.
Key responsibilities include:
1. Financial Reporting
a. Lead and direct the preparation of timely and accurate monthly, quarterly, and yearly financial statements in accordance with IFRS and local regulations and reports as required by the management.
b. Ensuring that all financial controls for the division are always met and adhered to.
c. Oversee the monthly financial reporting to Head office (France)
2. Budget Setting
a. Manage the preparation of the Company’s budget and report to the management on variances against established budget with reasons.
b. Assist Project head to formulate the project/donor budget for specific activity as per objective.
3. Financial Analysis/Planning
a. Engage in ongoing cost reduction analysis in all areas of the Company.
b. Compile key business metrics and report on them to management.
c. Create additional analyses and reports as requested by management.
4. Others
a. Forecast cash flow positions, related borrowing needs, and available funds for investment.
b. Ensure that sufficient funds are available to meet ongoing operational and capital investment requirements.
c. Review of grant agreements that are to be issued and submitted to respective donors / agencies.
d. Maintain banking relationships.
e. Liaising with external auditors / donor auditor to ensure annual monitoring and yearly audits are carried out.
f. Ensure compliance with donor grant agreements and legal requirements of the project.
g. Be responsive to donor and partner requests for financial analysis, including projections, pipeline analysis, and burn-rate analysis.
h. Liaising with consultant to ensure the compliance with legal authorities (SECP/FBR)
i. Prepare Finance Committee paper with coordination of department head.
5. Compliance and Governance
a. Ensure adherence to the Code of Corporate Governance and other relevant regulations.
b. Implement and maintain financial policies and procedures to uphold compliance standards.
Responsibilities:
• Finalization of Financial Statements on an annual basis.
• Analyze the requirement of running finance and long-term loans. Negotiate and finalize the deal with banks for the arrangement of short term and long-term finances of the company. Negotiate and finalize the insurance policies with insurance companies. Supervise the dealing with the banks for routine banking transactions.
• Supervised the Procurement Process of the Company. It includes obtaining quotation, negotiation and finalization of vendors for local purchases and negotiations and correspondence with the foreign vendors.
• Supervise the legal (financial aspect) and tax matters of the company including discussion with lawyers and finalization of legal agreements and correspondence with tax authorities.
• Supervise the product costing activity. It also includes feasibility analysis of new projects and vetting of financial aspects of sales proposals to the customers. Supervise the Invoicing Process of the Company and the Receivable Management Activity.
• Monthly MIS reporting to management of all functional area
• Income tax, Sales Tax and Withholding tax return filing on monthly basis
• Reporting financial results to Head office (USA) on Monthly basis.
• Respond to enquiries from the management regarding financial results as and when required.
Responsible for all facets of the audit and related engagements assigned through the planning, execution and conclusion stages. While managing and leading large teams in performing assurance engagements in accordance with the International Standards on Auditing and the GT global audit methodology, some of my major responsibilities include:
• Engagement planning:
• Managing the engagement:
• Engagement completion:
Client Names:
• Searle Pakistan Limited
• National Bank of Pakistan
• East West Life Assurance Company Limited
• Alpha Insurance Company Limited
• Shaheen Insurance
• Pak Oman Asset Management Company Limited
• Premier Cables (Pvt) Limited
• Ismail Industries (Pvt) Limited
• Al-Hamd International Containers Terminal (Pvt) Limited
• Hascombe Storage (Pvt) Limited
Internal Audit / Other Assignments
• Standard Chartered Leasing Limited
• UBL Insurers Limited
• MCB Bank - Fixed Asset Verification
• Foton Pak Bus Service (Pvt) Limited - Preparation of final Accounts
• Various stock verifications