GROUP FINANCE MANAGER
THE CRYSTAL GROUP
مجموع سنوات الخبرة :20 years, 0 أشهر
Presently working as a Group Finance Manager for one of the prominent Group in F&B and hospitality sector, The group own prime and high end Restaurants, Clubs and Bar Lounges in UAE.
Profile and Responsibilities:
- In-charge of Finance, Accounts, Credit Control and Administration.
Financial Plans & Strategies:
- Define, develop and implement Finance / Accounting plans, policies and procedures in line with Corporate Finance strategy in order to support the achievement of overall business objectives.
- Develop and implement procedures to establish and enhance internal control in accordance with Group Accounting.
Banking & Trade Finance Management:
- Manage all relevant trade finance activities such as Bank credit line facilities/Bank Guarantee and all other trade finance transactions.
- Co-ordination with bank’s Relationship Managers to utilize banking facilities as per requirement of working capital of the organization.
- Funds Transfer to Group Companies and foreign suppliers.
Cash flow and Capital Structure:
- Based on budgets, formulate funding plans to meet the cash flow requirement by defining appropriate capital structures which take into account the cost of capital and financial risks and advise how to achieve the funding requirements.
- Supervision of Payments to Staff (salaries/benefits/insurance/EOSB etc.), general company expenses and suppliers.
Budget Planning & Forecasting:
- Prepare budget and monitor actual financial performance versus the budget so that the management is aware of anticipated profit & loss, and areas of unsatisfactory performance are identified and rectified promptly.
MIS & Management Reporting:
- Submission of monthly management reports - Income Statement, Balance Sheet and Funds flow Statement.
- Statement of debtors and creditors age analysis, Inter Company reconciliation, Fixed Assets Depreciation Schedule WDV.
- General ledger scrutiny to ensure that the monthly / yearly reconciliations are done to justify all the balance sheet accounts.
Payroll:
- Checking and finalizing payroll of more than 400 staff for the group.
- WPS processing of more than 400 staff for the group as per UAE labour policy.
System Policies, Processes & Procedures:
- Advise to improvements to departmental policy and direct the implementation of procedures and controls.
- Covering all areas of Finance activity so that all relevant procedures are fulfilled while delivering a quality, cost- effective service.
Audit Process (Internal & External):
- Efficiently managing the audit process (Internal & External Audit).
- Co-ordinate & completion of internal and annual statutory audits as per agreed schedules.
Logistics Management & General Administrative work:
- Coordinating with Operation Department in Freight Forwarding Assignments.
- Negotiating and establishing freight rates and assist in other logistic activities.
- Overall Management of Import & Clearing Documentations.
- General office administrative work dealing with office control and maintenance.
- Renewal of Trade license and other office related documents.
Communication & Team work:
- Develop and maintain good working relationships with other departments, external agencies and service providers.
Other Responsibilities (Safeguarding) :
- Ensure protection of assets for the business through internal control and proper insurance coverage, interacting with various Insurance agencies.
My responsibilities, as a Senior includes:
- Managing auditing projects, preparation of team finance budgets and cost allocations, mobilization and overseeing projects to completion, complying with policies, procedures and standards at all times.
-Understanding, evaluation, testing and recommending improvements in Accounting and Internal Control Systems of clients
- Leading teams of individuals to perform audit and assurance services for various local & multinational clients.
- Handle the tasks of supervising, training and mentoring associates and interns on audit process.
Involved in various activities i.e. Review of financial statements, coordinating and planning audit tasks, assessment of control risks and designing Tests Of Controls (TOCs) to test effectiveness of internal control systems of audit clients.
-Reviewing work of members of the team, and managing activities so that the audit is performed in most effective and efficient manner.
Planning and performing activities in a way to meet the challenging task and difficult time lines.
Handled clients of varied industries which includes trading and manufacturing companies, exchange companies, financial institutions, contracting companies, oil field services, management consultancies and chain of supermarkets.
During my training in the firm, I have gathered extensive experience in audit & assurance and business advisory rendered to different multinational, public and private companies. This comprised of analysis and review of financial and non-financial information and reporting thereon both in individual capacity and as Team Leader in the Audit wing of my firm.
Audit, assurance and business advisory services (ABAS)
I have obtained adequate expertise in review of systems and audits of manufacturing, trading, financial and service industries. Nature of services performed includes:
- Review, preparation and compilation of financial statements in accordance with the reporting framework comprising of International Financial Reporting Standards (IFRS) and applicable local laws.
- Carry out audit planning, evaluation of control activities and audit of the financial statements in accordance with the International Standards on Auditing (ISA) and audit guidelines of BDO
- Evaluation of Internal Control System to identify deficiencies in the system and suggesting remedial procedures through Client Service Report (management letter) to rectify the control weaknesses and to improve effectiveness, efficiency, and reliability of business processes.
- Review of compliance with applicable laws and regulations of UAE commercial Companies Laws and various Free Zones across UAE.
Client’s Portfolio:
I have been involved in rendering audit, assurance and business advisory services to following major clients in the various sectors.
• T.Choithram & Sons Group - Leading chain of supermarkets and foodstuff traders in UAE and GCC)
• Al Safeer Group of Companies - A diversified Conglomerate includes Retail Hypermarkets, Malls and Real Estate across UAE and GCC
• Seabird Exploration Ltd - An oilfield Exploration Company, Listed in Oslo Exchange, Norway
• Afcons Construction MidEast LLC - A group company of Major Infrastructure Development Company in India)
• Evolvence Capital LTD- An investment portfolio management company which owns a vide range of investments in Health and Education sector in UAE and India including Repton School UK)
• Globalink Logistics Group - One of the leading International freight forwarding and project logistics management company throughout Middle East and Commonwealth of Independent States.
• Rivera Hotel Deira Dubai - A Four Star Hotel located on Baniyas Road Reira Dubai
• Billy Blues Restaurant - An American steak Restaurant Located in Rydges Plaza Hotel Satwa
• Cactus Cantina - An Italian Restaurant located in Rydges Plaza Hotel Satwa
• NKD Pizza LLC - A chain of restaurant in Dubai, original franchise from New Orleans
• Kanzaman Restaurant - A high end Arabic Restaurant located in Heritage Village Dubai
• Indian Pavilion Restaurant - Chain of restaurants in leading malls of Dubai
• Chinese Pavilion Restaurant - A chain of Restaurants in leading malls of Dubai
• Dome Café - Chain of casual dining café in Dubai, an Australian franchise.
• Al Bandar- A high end seafood restaurant in Dubai Heritage village.
My responsibilities as a Senior included,
- Finalization of accounts, and generation of monthly/yearly trial balance and financial statements.
- Management reporting of fixed assets registers, accounts receivable ageing, bank reconciliations, periodic expensing of prepayments, reconciliation of supplier statements and compliance to internal controls procedures e.g recording and filing of vouchers
- Assisting and liaising with external auditors of our clients for completion of interim and final audit.
- Controlling stock take and stock reconciliation procedures on monthly/yearly basis.
- Preparing cash flow and budget reporting for our clients.
- Preparation of payroll for our clients.
Client portfolio:
- Payroll Processing: IBM Middle East
- Payroll Processing: AMD Middle East
- Accounts/ outsourcing: CB Richard Ellis - world’s leading commercial real estate advisor
Special Assignments
Participated in a due diligence assignment of Dubai Steel, the assignment focused on detailed examination of Inventory physical existence and valuation.
courses: As of today ACCA part 2 continued – Association of Chartered Certified Accountants, UK