Regional Finance Manager - MENA
3T Energy Group
Total des années d'expérience :14 years, 2 Mois
3T Energy Group is a multinational organization with offices in the UK, USA, UAE, KSA and China. It provides technology and training solutions to the Oil & Gas industry leaders such as Shell Petroleum, British Petroleum, Saudi Aramco, Schlumberger, ADNOC & Weatherford.
• Managing the complete accounting cycle within the region, monitoring month-end procedures and preparing management accounts.
• Preparing and managing annual budget for the region and ongoing projects with strong control on pipeline expenditures.
• Introduced and preparing multi-currency 26 weeks rolling cash flow forecast for the operations in the region.
• Preparing interim and annual statutory financial statements, followed by the internal and external audits.
• Presenting the audited financial statements in the board meeting.
• Reviewing the reconciliations of balances across the group companies.
• Preparing the VAT and WHT returns for the company.
• Coordinating with geographically separated accounts' team for the routine operations of accounting & finance. Hiring and mentoring new staff in the department, across the region.
• Liaising with auditors, banks, legal consultants, regulatory authorities, and departments within the business to collect, vet, and disseminate the information as required by individual stakeholders.
Being a media advertising agency, it provides design & construction services for exhibitions, events and TV shows across UAE, Egypt, and KSA.
My set of working responsibilities characterized my standard as underneath:
• Initiated and successfully implemented Zoho Financials, in a record period of 45
days.
• Performed research on all activities for collections and minimized the receivable balances by 20%.
• Recommended innovative alternatives to reduce the cost of production by 12%.
• Introduced project-wise profitability reporting system to keep management informed about the timely decisions to be taken.
• Partnered with the external auditors to finalize prior year audits and streamlined the policies for the timely culmination of future audits.
• Formulated budgets in consultation with the relevant departments & performed variance analysis with the actual figures.
• Prepared consolidated financial statements in accordance with the statutory & IFRS requirements.
• Lead the accounts team for the routine operations of revenue, expenses, tax, payroll, payments & receipts.
Its a conglomerate of different businesses including Legal Services, Real Estate Investments, Construction, Raw Material Supplies & Transportation.
My main duties were as below:
• Collaborated with the lawyers for ascertaining the outcome of ongoing legal cases to cover the financial impact.
• Partnered with the subcontractors and consultants for the ongoing construction projects.
• Arranged bank loans for CapEx and high-level management spendings, amounting to AED 500 million, moreover, negotiated on the rate of interest which saved AED 2 million approx. for the company.
• Responsible for the group’s chart of accounts and all related queries.
• Generated monthly, quarterly, and annual financial statements for group companies.
• Liaise with external auditors and conducted financial audits of the group companies.
I was posted on Kahramaa (Govt. entity for the provision of electricity & water supply in Qatar) for the reconciliation assignment of Banks, Account Receivable & Asset Work in Progress.
My main duties were as below:
• Reconciled prior and current year bank transactions to the amounts already recorded in the system.
• Redesigned the bank reconciliation process and reports exchanged between departments.
• Traced the un-applied cash accounts and deposit accounts to the pool of receivables and proposed adjusting entries of QAR 176 million.
• Reviewed running project reports (Take over Certificates) to analyze status.
• Matched the ToCs (Take over Certificates) to WIP (Work In Progress) accounts.
• Defined the proper structure of the different CAPEX projects to facilitate the recording of project budgets, charges, and reporting.
• Monitor the day-to-day financial operations within the company, such as payroll, invoicing and other transactions;
• Review financial data and prepare monthly and annual reports;
• Present financial reports to the Chairman;
• Oversee finance department employees, including financial assistant and accountant;
• Establish and maintain financial policies and procedures for the company; and
• Review and assess cost reduction opportunities.
• Evaluating financial statements and assessing accounts for accuracy and compliance.
• Ensuring the consistency of statements with statutory regulations and relevant accounting standards.
• Identifying the control or implementation weaknesses in the financial reports.
• Generating reports including audit reports and management letters, featuring audit findings and delivered the same to the line manager.
Remarkable Assignments
• I was posted on Mobilink ~ owned by Vimpelcom (now VEON Ltd), Link Direct International (LDI) ~ subsidiary of Mobilink and Wi-tribe ~ subsidiary of Ooredo (formerly Qatar Telecom) for the audit assignments. Being the team lead, my job was to re-check and assure the workings on revenue & direct costs.
My core area of expertise in the telecom sector:
o Revenue streams (postpaid, prepaid, interconnect revenue & leased line rentals)
o Revenue analysis (monthly analysis, geographical analysis, new and existing customer)
o Direct cost (Interconnect costs, site maintenance cost, site commission costs)
• I was also endowed to represent the firm in UCH Power (Pvt) Limited ~ Second largest IPP in Pakistan as Senior Executive ~ Corporate Finance & Planning (CF&P) for a period of seven months.
Certified in Accounting & Finance (CAF)