Finance Manager
Middle East Group
Total years of experience :23 years, 10 Months
Middle East Group, U A E.
(i) Real Estate Division
(ii) Building Contracting Division
(iii) Import & Export and Trading of Building Materials
(iv) Transport Division
(v) Service & maintenance Division
Finance Manager - Aug' 2019 to till date
Middle East Group is a group of companies which includes Real Estate, Building Contracting, Building Material Trading, import & Export, Transport Division, Service & maintenance etc.
Supervision, leadership and direction to a team of 4 Accounts staff, Direct reporting to Managing Director the complete financial& accounting functions engaged in the business of above AED:160 million Gross Turn over per year
KEY FINANCIAL MANAGEMENT SKILLS
* Strategic Financial Planning
* Corporate Planning, Budgeting & Forecasting
* Cost Control & Profit Management
* MIS / Financial Reporting
* Accurate Mgmt. of Accruals / Prepaid
* VAT Finalization and File Return
* Working Capital Management
* Bank Negotiations & Relations
* MIS Systems and performance review mgmt.
* Executive Leadership & Supervision
* Cash Flow / Funds Flow Management
* A/P & A/R Management
* Finalization of Accounts
* Project Accounting
* Conduct Internal & external Audit
Key Accomplishments:-
* Responsible for management of company Finances, Accounts, Strategic financial planning, business risk assessment, Audits, Systems & Procedures, Cash / Fund Flow Management, Internal Controls, MIS, Banking, Bank Guarantees (APG/PB/MBG/LC etc.)Working Capital Management, Budgeting, Credit Control, Fixed Assets, Bank Reconciliation, A/P & A/R Insurance function & Payroll Management for employees
* Responsible for the complete procedures for prompt and accurate General Ledger closing and its reconciliation on monthly basis.
* Responsible for the proper and accurate recognition and verification of all revenues and its accounting on monthly basis.
* Ensuring all accruals, prepaid expenses are accounted on monthly basis and the expenses and revenues are verified and allocated properly in each month.
* Preparation and reconciliation of schedules for all General Ledger accounts on monthly basis.
* Preparation of Trial Balance, Profit & Loss account and Balance Sheet on monthly basis. Analyze variance and suggest corrective actions / Management reporting.
* Responsible for Finalization of Annual Accounts and reporting as per Company Reporting Rules Accounting Standards.
* Planning, developing and implementing all accounting and financial systems, policies procedures for control the operations.
* Analyze financial accounts and provide detailed reports of fiscal health of the company to the Senior Management including early warning signals to the Senior Management.
* Accountable for the development and management of company’s annual estimates and budget including variance analysis and preparation of Performance Review Report.
* Analyze operating costs to develop and implement cost reduction processes. Identify operational challenges resulting from MIS issues. Interpret operation reports and metrics used in assessing effectiveness and efficiencies of the business.
* Liaise with the Auditors for the Annual Audits. Prepare various schedules for audit I.E Fixed Assets, accrual, depreciation, rent, end of service benefits etc.
* Ensure that the financial records are maintained in compliance, and recommended changes in procedure when appropriate.
* Perform financial analysis of various tactical initiatives and make recommendations supported by appropriate financial tools and information, for facilitating decision-making process.
* Prepare fund flow statement and arrange the payment to foreign suppliers and local suppliers and record export usance and Sight LC receipt on maturity date on weekly basis.
Provide leadership and direction to a team of 4 Accounts staff, reporting to Group CFO and MD the complete financial& accounting functions engaged in the business of Landscaping and Electro mechanical works, and Trading, import and Export of Stone and Marble and producing of above AED:120 Million Gross turn over per Year
Responsibilities: -Monitoring Daily Bank Position; OD/LC/TR/BG & and manage all Finance related matters. Implementing accounting procedures of the company according to International Accounting Principles and Group Standards, prepare monthly/ annul budget, sales forecasting & Budgeting, Cash flow statement, variance report etc, Monitor and supervise all activities and tasks related to book entries of the company operations such as sales, purchase, stock movement, fixed assets transactions, inventories, liabilities & Loans etc. Supervision of 7 accounts & Admin staff on day-to-day operations, verification of accounting and finance-related transactions. Supervision and controlling of Group of accounts, Finalization and consolidation of accounts, Monitoring Treasury Function like Accounts Receivable, Accounts Payable, Bank Settlement, Forex dealing, Export & Import documentations supervision etc.,
Provide leadership and direction to a team of 5 Accounts staff, reporting to the Company Directors the complete financial& accounting functions of the Group engaged in the business of Building Contracting and producing AED:150 Million Gross turnover per Year.
Key Accomplishments:-
• Responsible for management of companyFinances, Accounts, Strategic financial planning, business risk assessment, Audits, Systems & Procedures, Cash / Fund Flow Management, Internal Controls, MIS, Banking, Bank Guarantees (APG/PB/MBG/LC etc.)Working Capital Management, Budgeting, Credit Control, Fixed Assets, Bank Reconciliation, A/P & A/R Insurance function & Payroll Management for employees
• Responsible for the complete procedures for prompt and accurate General Ledger closing and its reconciliation on monthly basis.
• Responsible for the proper and accurate recognition and verification of all revenues and its accounting on monthly basis.
• Ensuring all accruals, prepaid expenses are accounted on monthly basis and the expenses and revenues are verified and allocated properly in each month.
• Preparation and reconciliation of schedules for all General Ledger accounts on monthly basis.
• Preparation of Trial Balance, Profit & Loss account and Balance Sheet on monthly basis. Analyze variance and suggest corrective actions / Management reporting.
• Responsible for Finalization of Annual Accountsand reporting as per Company Reporting Rules Accounting Standards.
• Planning, developing and implementing all accounting and financial systems, policies procedures for control the operations.
• Analyze financial accounts and provide detailed reports of fiscal health of the company to the Senior Management including early warning signals to the Senior Management.
• Accountable for the development and management of company’s annual estimates and budget including variance analysis and preparation of Performance Review Report.
• Analyze operating costs to develop and implement cost reduction processes. Identify operational challenges resulting from MIS issues. Interpret operation reports and metrics used in assessing effectiveness and efficiencies of the business.
• Liaise with the Auditors for the Annual Audits. Prepare various schedules for audit I.E Fixed Assets, accrual, depreciation, rent, end of service benefits etc.
• Ensure that the financial records are maintained in compliance, and recommended changes in procedure when appropriate.
• Perform financial analysis of various tactical initiatives and make recommendations supported by appropriate financial tools and information, for facilitating decision making process.
• Prepare fund flow statement and arrange the payment to foreign suppliers and local suppliers and record export usance and Sight LC receipt on maturity date on weekly basis.
• Manage full VAT compliance procedures
• Manage WPS and Payroll duties.
(Mammut is a Group of companies which includes Contracting, Manufacturing of Pre-cast Building material, Pre-engineered Building system, Trailers manufacturing, Import & export etc.)
Responsibilities:-Monitoring Daily Bank Position; OD/LC/TR/BG & and manage all Finance related matters. Implementingaccounting procedures of the company according to International Accounting Principles and Group Standards. To prepare monthly/ annul budget, sales forecasting & Budgeting, Cash flow statement, variance report etc, Monitor and supervise all activities and tasks related to book entries of the company operations such as sales, purchase, stock movement, fixed assets transactions, inventories, liabilities & Loans etc. Supervision of 7 accounts & Admin staff on day-to-day operations, verification of accounting and finance-related transactions. Supervision and controlling of Group of accounts, Finalization and consolidation of accounts, Monitoring Treasury Function like Accounts Receivable, Accounts Payable, Bank Settlement, Forex dealing, Export & Import documentations supervision etc.,
Administration responsibilities:- Managing all day today administration works, Monitoring of Visa, Labor/Health/Insurance card, Passport Expiry, Time sheet, absent, sick leave, annual leave and all related matters. Insurance related matters, Ensure Pay roll run, all other day to day administration activities
Finalization and consolidation of Group of accounts and prepares Manufacturing Trading, P/L a/c and Balance
Sheet and submit to Auditors, Follow up of monthly market outstanding and follow up with sales team (I was a
specialist in Collection of outstanding), Payment to suppliers within our budget and squeezed maximum credit from
the suppliers, Budgeting, Control of daily expenses, Aware of Bank Credit Lines like O/D, L/C, T/R, Bank
Guarantee and other bank matters, FOREX All import and Export works, documentation as per L/c terms and
conditions, Assisting Group Finance Manager, Reporting day today activities related to finance to Group Finance
Manager, Control of Petty cash, Report given to Bank for renewal of Bank Facility and other govt. departments.
• Daily:- Handling bank transaction (Cash & Chq Deposit) and monitoring of daily bank Position, Preparation of daily cash, cheque and POS card collection report, Verifying payment vouchers and Posting. Preparation, allocation and posting of Receipt (bank/Cash) Vouchers., Verify all Purchase voucher and Posting., Handling, preparation, allocation and posting of Petty cash Vouchers. Daily Collection and Payment Report etc., Other reporting required by the management., Daily cash, cheques are Deposits in to Bank., Preparation of check request for suppliers and check voucher upon approval of management. Preparation of Journal Vouchers., Handling daily Petty cash & re-imbursement., Preparation of Debit note and Credit Note and posting.
• Monthly:- Preparation of monthly statement which shows Collection, outstanding report etc., Preparing staff salary, Handling A/R and A/P and reporting to Finance Manager., Maintaining Staff ledger, Trade Debtors/Creditors and monthly reconciliation, Monthly Bank Reconciliation statement., Preparation of Salary Statement for the basis of Time sheet., Monthly collection and payment report., PDC in hand /Issue report., Prepares monthly payment schedule of Suppliers., Passing Adjustment entries like outstanding/ prepaid exp., depreciation, Provision etc., Finalization of Trial balance, P/L & Balance sheet., Present monthly financial report to Directors., Other report required by the management.
• Yearly:- passing all adjustment entries, Assist with Audit preparation and end-of-year closing, Trial balance, Profit & Loss and Balance sheet and schedule.
Accountancy, Business Banking, Commerce, Accounting Law, Co-operation
Accountancy, Commerce, Banking, Business Law, Management ,Co-operation