Finanacial Analyst
Commercial Bank of Dubai
Total years of experience :25 years, 7 Months
Finance & Accounts Department:
Ensured accurate, timely accounting and thorough understanding of all financial information - monthly, quarterly and year-end closings.
Compiled and analyzed financial information to prepare monthly reports and annual financial statements in compliance with accepted policies and procedures.
Performed general financial analysis, prepared revenue forecasts and evaluated any possible financial risks.
Monitored accuracy and timely processing of payment transactions.
Developing the function’s strategy and plans and ensure that they are closely aligned with the entity’s overall strategy and objectives and the entity’s specific requirements.
Supervise the analysis, summarization and maintenance of general ledger accounts and develop the chart of accounts for the entity.
Work on the implementation of a robust financial reporting framework to monitor performance, the flow of funds adherence to the budget, expenditures, income and other budgetary requirements.
Implementation of internal control mechanisms in order to mitigate financial risks.
Review outstanding items in Sundries Accounts of all subsidiaries for follow up and escalate for settlement / write off instructions / approvals in line with APPM for subsidiaries and take corrective action to safe guard against potential losses.
Investigate deviation in the GL and subsidiary accounts and arrange rectification by the concerned unit to keep the books of accounts balanced
Regularly monitor Nostro /mirror statements of all subsidiaries accounts and to investigate outstanding items and take corrective actions and follow up with respective departments for their clearance.
Compilation and validation of the integrated accounts payable information for all functions of the entity.
Liaise with external auditors and third party advisors and support the year-end financial audit, providing consolidated statutory accounts and audit files where required by external auditors.
Develops appropriate internal controls and accounting procedures in line with industry good practices; monitor adherence to agreed procedures and seek continuous improvement to enhance operations.
Providing guidance to direct reporting staff in the development, analysis and preparation of reports in line with the established policies and procedures, review accounting reports for accuracy and completeness.
Assisting the Manager/Section Head with the preparation, consolidation and review of quarterly and annual budgeting processes and plans for the entity.
Develop guidelines and templates for the preparation of budgets of ongoing operations and special projects.
Liaison with Financial Control and other Department of Bank to obtain inputs for budget preparation and generate the consolidated budget.
Preparing analytical reports highlighting variances in spending and submit them for review..
Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
Prepares financial management reports based on accounting control procedures.
Develop guidelines and templates for the preparation of budgets of ongoing operations and special projects.
Preparing analytical reports highlighting variances in spending and submit them for review.
Maintains general ledger by transferring subsidiary accounts; preparing a trial balance and Balance Sheet; reconciling entries.
Prepares and records asset, liability, revenue, and expenses entries by compiling and analyzing account information.
Summarizes financial status by collecting information; preparing balance sheet, profit and loss, and other statements. Produces payroll by initiating computer, processing; printing checks, verifying finished product.
Oversees recording of invoices, debit notes, credit notes, journal entries, EPICO labour accommodation charges, etc to ensure timely accounting of revenue and expenses.
Completes external audit by analyzing and scheduling general ledger accounts; providing information for auditors.
Avoids legal challenges by complying with legal requirements.
Supervises review of credit control documents, timely preparation of LC claim documents and submission to the bank to conform to the terms and conditions of the LC and
ensure payments against LCs are collected on time. The process includes escalation of deviations to the standard terms and conditions, discrepant documents, non acceptance of documents by banks and non payments by bank etc.
Supervises preparation of Bank guarantees and Letter of credit as requested by BUs to ensure all terms and conditions are fully incorporated
Reconciles all clearing accounts related to inventory, receivables and system error accounts to ensure balances of all suspense accounts are closed in a timely manner
Supervises preparation and circulation of balance confirmation letters to customers to ensure balance payments are confirmed and records maintained
Reviews service contract process and follows-up with operations to carry out reconciliations. This includes revenue reconciliations, booking of operational revenue and minimum guaranteed hours.
Managing bank reconciliations including clearing of accounts to ensure bank accounts are matched with bank statements
Oversees preparation of various reports to facilitate management review. This includes Customer age analysis, overdue debts, monthly parts inventory report, stock key figures report, weekly provisions forecast, pending claims, cash collections etc
Reviews contracts to ensure the compliance of terms and conditions
•Finalization of Accounts.
•Planning, assigning work, addressing complaints & resolving problems
•Handling accounts payable, receivable, overdue debts, credit levels & follow up.
•Maintaining bank accounts & funds
•Disbursing funds on presentation of duly authorized requests
•Payroll calculation, accounting for net salary transfers, gross salaries, allowances, deductions & personal accounts
•Regular reconciliation of bank accounts & balance sheet items.
•Accounting for fixed assets purchases, disposals, depreciation & updating fixed asset register.
•Liaising with bank for opening Bank Credit Facility, L.C, Tender Bond, Bank Guarantees etc..
•Maintaining and improving internal control system of their Sister Concern M/s.Al Tamimi Gen.Maint.& Electrical works L.L.C (An ISO certified company)
•Organizing ISO auditing as per Certification Management requirement.
•Managed independent correspondence and coordinated with Vendors & Clients.
•Continuously implemented and improved departmental efficiency through elimination of non-value added tasks.
•Direct reporting to Managing Director for day to day functions (Finance & Accounts)
•Weekly evaluation and cost analysis for its ongoing and completed projects for both companies.
•Involved insurance matters for employees and vehicles as well as Auto Loan matters with banks.
•Invoice control of completed projects as well as partial invoice for certified work in progress
•Ensuring subordinates meet scheduled deadlines.
•Coordinating with concerned projects Engineers for Clients Enquiry & Quotation, Customers Enquiry and
•L.P.O’s, Site Material Requisition & Material Transmittal Notes.
Finalizations of Books of Accountswith year schedules for annual Audits, prepares monthly profit and loss account and balance sheet with relevent shedules, Observation and control of Accounts Receivables and Payables, Sucessfully handled the accounts of Sub contractros, Handled Invoice Processing with Saudi Aramco, Developed and Maiantained new payroll system in Spreadsheet, Handled secretarial works to General Manager, Developed and maintained new system for their Aramco Sites include Inventory, and developed new Invoicing System as per the requirement by Saudi Aramco for SAP system, Monitors dialy funds position, Perpares cheques and bank trnsfer requests, Ensures prompt settlment of cash advance to staff, Check Suppliers's bills, forcasts cash flow.
Maintaining and Improving systems of internal control for their mannufacturing unit, Trading Unit and Export & Import House. Finalization of Accounts, Scrutiny of Ledgers (Debtors, Creditors & General), Monotoring and control of Accounts receivables and Payables, Monthly Statement of Operatinal Data, Assisted for Budgeting and Budgetory control, Responsible for preaparing statements to Submit Income Tax, Sales Tax and excise authorities as well as represented the company tax hearings with respective Departments.
Maintained Computerized books of Accounts, Assisted Cheif Accountant (Chartered) for the finalization of Accounts, Scrutiny of ledgers, Bank Reconcilation Statement and Account Receivables and Payables.
Diploma Course Passed for ERP Tally , Peachtree, DacEasy