Group Finance Manager
DGM Investment LLC
Total years of experience :25 years, 8 Months
Key Responsibilities:
• Overseeing financial operations for a diverse portfolio of affiliated companies including Real Estate, Holiday Homes, Facilities Management, and Security Services, Brokerage and Developers having an annual turnover of AED. 180 million
• Providing strategic financial guidance and decision support to senior management and stakeholders.
• Set up the Financial Accounts for the newly incorporated companies (DGM Investment, DGM Properties, DVM Properties, Your DVM Properties, Eastern Coast Holiday Homes, EC Safety Security & Housekeeping Services, Eastern Coast Building Maintenance
• Initiated to work on the historical data of Hi Sandy Real Estate Financials
• Developing and implementing financial policies, procedures, and controls to ensure compliance and mitigate risks.
• Prepared and implemented Procurement Policy, Petty Cash Policy, Payment Run and Employee Reimbursement policy.
• Managing budgeting, forecasting, and financial planning processes for the group and its subsidiaries.
• Analyzing financial performance, identifying key trends, and making recommendations for improvement.
• Supervising financial reporting activities, including preparation of monthly, quarterly, and annual financial statements.
• Emphasizing on Compliance & Regulatory Affairs (VAT, Corporate Tax)
• Conducting financial analysis and variance analysis to assess business performance and support strategic initiatives.
• Providing leadership and mentorship to the finance team, fostering a culture of continuous improvement and professional development.
• Detected operational inefficiencies, discrepancies in data, and deficiencies in reporting systems; implemented corrective measures to streamline processes and enhance operational smoothness.
Achievements:
• Successfully implemented a monthly, quarterly budget approach for current year as historically no budget existed; Estimated monthly expense budget of AED.18-20 million.
• Introduced Accrual based accounting vs the traditional cash-based accounting for the Group.
• Projected Cash Flow and Projected Profit and Loss Statements were prepared for the Group.
• Monthly Profit and Loss Statements with Financial reports were prepared for Jan & Feb 24 for all companies.
• Cash Flow Statements for 7 days, 15 Days and 30 Days were prepared to maintain control; total cash flow management of approx.AED.16 million.
• Achieved significant cost savings through renegotiations with real estate landlords and Service Providers thus saving more than AED.3.5 million.
• Implemented efficient financial and operational systems resulting in improved productivity and profitability.
• Contributed to strategic direction and target achievement through margin analysis and financial reporting.
• Established financial controls and ensured compliance with statutory regulations. Got all companies registered for Corporate Tax and initiated VAT registration.
Key Responsibilities:
• Business insights, Strategic planning & Strategic direction: Contributed to the strategic direction of the organization by creating an action plan and reporting on deliverables, resulting in a clear understanding of target achievement. Prepared business insights and analytics to develop strategic plans for trading operations, contributing to the company's growth and success.
• Margin analysis for decision making: Conducted margin analysis to support decision making in the appointment of service providers/suppliers, resulting in cost benefits for the organization.
• Financial reporting: Established a comprehensive framework for financial reporting, ensuring accurate recording and reporting of financial information. Generated management accounts, conducted cost analysis, prepared budgets and forecasts, pricing reports, and profit margin reports, providing valuable insights for decision making and improving financial performance.
• Financial controls: Implemented strong financial controls, ensuring the integrity of financial processes and safeguarding company assets.
• Finance and accounting management: Managed the Finance & Accounting function for the principal company and its related entities, demonstrating the ability to handle a wide range of financial responsibilities independently.
• Compliance with regulations: Ensured compliance with statutory regulations and legislation, including Economic Substance Regulations (ESR), Ultimate Beneficial Owner (UBO), and Anti-Money Laundering (AML) requirements.
• Human Resources: Authored the HR policy, developing and implementing effective human resources policies and procedures. Managed the employee related recruitment, onboarding & other necessary formalities including but not limited to Payroll, Leave Management, HRM, visa, insurance, EOSB, etc.
• Audit completion: Successfully completed audits for fiscal years 2020, 2021, and 2022, ensuring accurate financial reporting and adherence to auditing standards.
• Company Portfolio: It included Trading, Real Estate, Investments
The above highlights my expertise in financial management, strategic planning, compliance, and overall contribution to the organization's success.
Achievements:
• Accelerated profit margins by implementing a strategic approach of timely and bulk purchasing, along with staggered deliveries tailored to meet end-user needs. Negotiated favorable payment terms, resulting in profit margin increases ranging from 2% to 7%, equivalent to approximately AED 3 million.
• Took proactive compliance measures and made informed business decisions, leading to savings of approximately AED 2 million through the avoidance of unnecessary payments.
• Successfully renegotiated contracts with banks, resulting in a 1% reduction in interest rates. Overall savings exceeded AED 500, 000
• Demonstrated a proactive approach to regulatory compliance by promptly assessing and addressing potential issues, thereby averting fines from regulatory bodies. This proactive stance not only protected the company financially but also enhanced its reputation.
• Identified gaps which would result in fine implication and renegotiated on fines applied and thus saved more than approx. AED.1.2 million.
These achievements highlight my ability to drive financial performance, optimize savings through strategic decision-making, and mitigate risks through compliance actions. With a track record of successfully accelerating profit margins, negotiating favorable terms, and proactively addressing regulatory compliance, I have made valuable contributions to the organization's profitability, cost-saving initiatives, and overall reputation management.
Key Responsibilities:
• Conducted deviation analysis of key performance indicators (Operating Income, Cash flow, DSO, DIO, etc.) and delivered timely and accurate financial and management information to the management team on a regular and ad hoc basis.
• Prepared the annual business plan, financial forecasts, and estimates within scheduled timelines and in close collaboration with management, ensuring high levels of accuracy in the input data.
• Generated monthly management information systems (MIS) reports with a strong focus on analyzing actual results against targets, identifying risks and opportunities, and providing valuable insights to the management team.
• Implemented changes and challenged existing practices to enhance efficiency and drive profitability within the organization.
• Managed tender submissions using a comprehensive process that emphasized risk management, cost savings, and timely delivery of projects.
• Produced year-end financial reports, as well as annual and quarterly reports, contributing to transparent and comprehensive financial reporting for stakeholders.
These achievements demonstrate my expertise in financial analysis, forecasting, risk management, process improvement, and reporting. They showcase my ability to provide critical insights to management, drive efficiency, and effectively manage financial operations.
Achievements:
• Successfully achieved profitability for each project through effective negotiations, leveraging a wide range of suppliers, optimizing credit terms, and utilizing standard/volume discount principles. These efforts resulted in a significant margin increase from 4-5% to 18-25%, amounting to approximately INR 22.1 crore during the year.
• Applied cost and project management techniques to proactively identify and address potential project overruns, ensuring timely mitigation and avoiding unnecessary expenses.
• Introduced the Contract and Variation Order concept to enhance project feasibility and control costs. This implementation resulted in effectively managing cost variations, amounting to over INR 15.3 crore during the year.
• Made significant contributions to business expansion plans, including diversifying into interior designing and civil works, as well as opening remote offices to seize new business opportunities. These initiatives led to substantial revenue growth, increasing from INR 4 crore to INR 28 crore within the first year.
These achievements highlight my ability to drive profitability, effectively manage costs and projects, and contribute to business expansion and revenue growth. They showcase my expertise in negotiations, cost management, and strategic decision-making.
Key Responsibilities:
• Held overall responsibility for managing various departments within the Corporate Services function, including Finance (Accounts Payable, Business Analysis, Petty Cash, Budgeting, CMC, Fixed Asset Management), HR, Administration, Utilities, Stores, Contracts, Procurement, and IT.
• Demonstrated flexibility and adaptability by stepping in to manage Facilities, Transport Management and Staff Accommodation (Housing) areas as needed to meet the dynamic requirements of the business.
• Successfully established efficient processes and divisions to effectively manage and coordinate the roles within my specific responsibilities.
These achievements highlight my extensive experience in overseeing diverse departments and functions, showcasing my ability to manage multiple areas of responsibility and ensure effective coordination and efficient operations.
Achievements:
• Conceived and implemented various control and efficiency systems, including Inventory Management System (Phase 1), Petty Cash Management System (Phase 1), and Asset Management System (Phase 1). These systems improved accuracy and streamlined processes within the organization.
o Inventory Management System having and SKU of 12000+ no’s; regular audits and efficiency management resulted with almost zero variance in annual audit carried out by Group Finance.
o Petty Cash Management System along with IT which was later adapted across other business units of Qatar Airways.
o Designed and developed Asset Tracking System to track various types of assets; this helped in managing more than 650, 000 assets.
• Developed robust Excel workbooks for Utilities Management, enabling efficient payouts to service providers and accurate recharges to staff and sister concerns.
• Implemented a Time Management system in SharePoint using MS InfoPath forms, enhancing control and transparency in service provider payouts.
• Led the breakdown of manpower (BDM) for HR management, utilized for recruitment, budgeting, tracking, and control purposes.
• Spearheaded the creation of a Business Requirement Document (BRD) for the Facilities Management System (FMS) interface and automation, specifically focusing on cost capture, inventory requisition, recharges, and service provider payments.
• Implemented detailed schedules for budgeting, replacing traditional ledger-based methods, resulting in more accurate cost capture across all aspects of operations, including Facilities (Residential & Commercial), Housing, Properties, and Projects. The accuracy was such that the variance was less than 0.25%.
• Established six department cost centers and one group-related cost center, enabling clear distinction between department-specific running costs and costs incurred on behalf of the group.
• Oversaw the growth of my team from 6 to 22 members over a span of 7 years, introducing sections such as HR & Administration, Contracts, Procurement, Utilities, Stores, Finance (Accounts Payable, Petty Cash & Business Analysis), and Asset Management for improved management and control.
• Developed significant expertise in Housing (Accommodation) and Facilities (Residential & Commercial) Management.
• Ensured the continuity of all facilities-related contracts for seamless business operations.
• Created Standard Operating Procedures (SOPs) in various management areas, including HR, Contracts, Procurement, Utilities, Stores, Accounts Payable, Petty Cash, and Asset Management.
• Spearheaded the RFQ, Technical Evaluation and Commercial Evaluation for the team.
These achievements highlight my expertise in implementing efficient systems, driving process improvements, and managing various departments to enhance control and performance within the organization.
Key Responsibilities
• Set up accounting and inventory management systems, ensuring accurate financial reporting.
• Supervised and finalized books of accounts, ensuring compliance with regulatory standards.
• Developed Excel templates and models for management reporting and financial statements.
• Managed cash flow and working capital, optimizing liquidity and financial stability.
• Oversaw payroll management, ensuring timely and accurate payments to employees.
• Liaised with banks for daily operational activities and financial transactions.
Key Responsibilities
• Prepared financial management reports and participated in monthly business review meetings.
• Conducted monthly variance analysis of actual vs. budget, providing commentary and follow-up actions.
• Developed and monitored key performance indicators for the business unit, enabling informed decision-making.
• Led project management initiatives, ensuring alignment with strategic objectives and financial targets.
• Managed security costs and billing processes, enhancing transparency and efficiency.
• Implemented internal controls and strengthened financial reporting systems.
• Ensured financial integrity and reliability, reviewing and strengthening internal controls and procedures.
• Prepared reports of a more advanced and detailed nature involving projections and forecasting for senior management.
• Managed project cost estimating, tracking, and analysis, ensuring efficient resource allocation and cost control.
Achievements:
• Invented a cross-billing template that significantly reduced the time frame for billing from two weeks to less than 2 hours, improving efficiency and cash flow.
• Pioneered the development of templates and finance models to effectively track and manage project-related budgets and expenditures, ensuring accurate financial monitoring and control.
• Projects managed:
o HRDC Tank Constructions Project (6 x 5M liters) - Managed a project worth USD 28 million, overseeing the construction of six tanks with a capacity of 5 million liters each.
o HRDC 3.5kms Pipeline Project - Successfully managed a pipeline project valued at USD 4.1 million, ensuring timely completion and adherence to budgetary constraints.
o Kandahar Accommodation Project for 600 staff - Led the management of a large-scale accommodation project for 600 staff, with a budget of USD 18.2 million, ensuring comfortable and efficient living arrangements.
o Kandahar 7.2kms Pipeline Project - Oversaw the execution of a pipeline project spanning 7.2 kilometers in Kandahar, with a budget of USD 7.8 million, ensuring quality construction and timely completion.
o HRDC - Tank & Pipeline, Fire Suppression & Fuel Hydrant System, etc. - Managed multiple projects totaling USD 85 million, including tank and pipeline construction, fire suppression system implementation, and fuel hydrant system installation, among others.
These achievements highlight my ability to innovate and streamline processes, effectively manage project finances, and successfully oversee projects of significant scale and complexity.
Key Responsibilities:
• Prepared monthly financial statements and performed reconciliations, ensuring accuracy and compliance of financial records.
• Managed accounts receivable, accounts payable, and general ledger functions.
• Conducted variance analysis, cost estimates, and budget preparation, supporting strategic decision-making.
• Facilitated budgeting and variance analysis, providing actionable insights to management.
• Managed accounts receivable and payable processes, optimizing cash flow management.
• Prepared audit schedules for external auditors and acted as a liaison between OMD and auditors.
Achievements:
• Consolidated the credit analysis function, leading to increased cash flow by significantly reducing outstanding receivables from 90 days to spot payments and a maximum of 42 days. This consolidation minimized risk from marginal customers and improved financial stability.
• Achieved an impressive 96.8% recovery of outstanding collections that were previously considered written-off, resulting in a positive impact on the bottom-line to the tune of USD 15.7 million. This successful recovery demonstrated strong financial acumen and effective debt management strategies. Successfully, cleared outstanding debts from Y2005 and Y2006 within just 8 months, bringing the outstanding balance down to zero from AED.4.7 million. This achievement showcased exceptional diligence and effective resolution of long-standing financial obligations.
These achievements highlight my ability to optimize cash flow, recover outstanding collections, and effectively manage debt. They demonstrate my strong financial analysis skills and expertise in improving financial stability and bottom-line performance.
Key Responsibilities:
• Authored accounting, financial, and internal control policies, ensuring compliance with legal and regulatory requirements.
• Set up online reporting systems, streamlining procedural and accounting standards for in-house IT developers.
• Managed financial accounting and management functions, including budgeting, variance analysis, and internal audit.
• Led HR functions, including recruitment, immigration, labor contracts, and performance appraisals.
Achievements:
• Successfully captured raw data from various sources and meticulously recorded all CAPEX (Capital Expenditures) and OPEX (Operating Expenses). This comprehensive approach ensured accurate financial reporting and facilitated the identification of critical elements such as intercompany loans and owner personal loans, which were crucial during the establishment of the Financial Accounting process.
• Spearheaded the development and implementation of the accounting system from scratch. This involved designing and setting up robust processes, defining chart of accounts, implementing accounting software, and establishing procedures for accurate and efficient financial management.
These achievements highlight my ability to gather and analyze data effectively, ensure accurate financial reporting, and lead the implementation of accounting systems. They demonstrate my expertise in establishing financial processes and systems from the ground up.
Key Responsibilities:
• Prepared budgets and performed variance analyses, ensuring alignment with organizational objectives.
• Supervised HR and administrative functions across all branches, ensuring compliance with corporate policies.
• Managed financial reporting, payroll processing, and debtors’ turnover, optimizing cash flow management.
• Conducted internal audits and implemented fixed assets management and control processes.
Achievements:
• Developed comprehensive internal audit schedules for the Recruitment and Training departments, ensuring compliance with internal policies and procedures. These schedules facilitated effective risk management and quality control within the organization.
• Successfully achieved targets for multiple entities, including Group, Branch, Recruitment, and Training, across various locations, including Abu Dhabi, Dubai, Bahrain, and Sharjah branches. This demonstrated consistent performance and the ability to meet and exceed goals in diverse operational environments.
These achievements highlight my expertise in internal audit management, risk assessment, and achieving targets across different branches and departments. They showcase my ability to drive efficiency, maintain compliance, and deliver results within a multi-location setting.
Key Responsibilities
• Managed bill clearing and forwarding processes, ensuring accuracy and timeliness of financial transactions.
• Prepared excise statements and MIS reports, supporting financial decision-making and analysis.
• Conducted stocktaking activities, ensuring accuracy of inventory records and compliance with regulatory standards.
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