Senior Accountant- Trade Finance
IMCO Engineering & Construction Company
مجموع سنوات الخبرة :32 years, 4 أشهر
Job Description: Trade Finance Officer
• Managing all work related to Letter of Credit- Establishment LC for Local and Foreign Suppliers.
• Negotiating Terms & Conditions with relative clients or suppliers for opening of LC.
• Execution of all work related to import & export LCS until the final settlement/Liquidation.
• Execution of all work for Establishment, Amendment and work related to all of Bank Guarantees such as Tender Bond, Performance, Advance, Retentions, Purchase, MOSL LGS and third party Guarantees.
• Preparation of monthly outstanding reports and status reports of all active LC’s & BG’s.
• Processing for APN Loan against LC Payments, Preparation of Bills of Exchange etc. for LC dues.
• Bill Discounting and negotiation of documents & other bank related work against Incoming Letter of Credit.
Job Description Accounts & Finance:
• Supervising all accounting work, preparation of Management information reports.
• Preparation of Monthly cash plan through monthly cash budget/ Cash flow forecast.
• Accounting for Accounts receivables- Preparation of Monthly statement for pending collection reports.
• Alerting the Projects execution/ operation managers for the outstanding receivable/ unbilled revenue.
• Reporting to the top management regarding Revenue /Collection -Debtors Turn Over.
• Cost and Revenue comparison, Budgeted cost Versus Actual cost & reporting Variance.
• Accounting for Accounts Payables - Disbursement of Payment as per the ageing of Payables.
• Planning of Payment distribution according to the availability and of Fund status.
• Preparation of Quarterly of cash flow forecast and planning the disbursement of Payments.
• Planning for re-payments of loans and other short term debts, as per availability of Fund.
• Bank reconciliation, other a of inter companies, accounts reconciliation of A/R and A/P.
• Reconcile GL Accounts with related Sub-Ledgers. & make necessary rectification JVs.
• Interacting with external customers for various queries relating to facts and figures.
• Developed and maintained monthly job-cost/ profit analysis and reported to top management.
• Compiled and analysed sales and revenue data to assist in budget preparation.
• Analysed and reviewed purchases of new equipment and materials for Projects operations.
• Carried out all necessary day to day accounting responsibilities, including journal entries accounts payable/ receivable, bank deposits, invoicing, collections, etc.
• Allocation of General Overheads expenses to related operation unit, project & cost centre
KREMENCO
Kuwait
Preparation of interim periodical financial statements and financial packages for banks.
Check the accuracy of monthly accruals, and inter-company reconciliation.
Prepare intercompany billings and reconcile t their accounts.
Effectively managing budgetary Control system to Locate variance with Budget V”s Actuals.
Review payment requests from customers to determine if payment can be made.
Resolved complex accounting discrepancies and irregularities.
Checked the accuracy of monthly accruals, revenue close, variance analysis, and performed inter-company reconciliations to ensure volume allocations and prices were correct.
Communicated and established relationships with operations and external customers.
Accounted for company’s fixed assets expenditures ensuring compliance with company policies. Maintained fixed asset depreciation schedules.
Responsible for the A/R function to ensure proper posting of customers’ accounts.
Prepared monthly local depository bank reconciliations and maintained bank reconciliation.
Preparation of trial balance reports and aging summary of system into excel spread sheets to reconcile the balance sheet for month-end-close.
Maintained and updated reporting for cost, committed cost, Revenue, Collections, Payables.
Preparation of interim periodical financial statements and financial packages for banks.
Analysed Revenue a/c & Balance sheet accounts to identify re-class issues and adjustments.
Analysed monthly capitalization of fixed assets
Supported any documentation requested by outside/inside auditors.
Performed daily cash management activities including recording and reconciliation of fund transfers.
Maintained the fixed asset system and records including reconciliation of all accounts.
Monitored daily cash activities including disbursement and receipt of funds.
Coordinated planning process for the department as well as the annual business review for Rating Agencies and internal clients. Consolidated quarterly financial reports for the department such as key indicators, P&L, allocation, cash sales, etc.
Alerting the Projects execution/ operation managers for the outstanding receivable/ un billed revenue.
Reporting to the top management regarding Revenue /Collection -Debtors Turn Over.
Filing of income tax return, sales tax return and other statutory filing work.
Preparation of payroll, disbursement of salary and employees dues etc.
Responsible for all Accounts Payable processes and timely payment of all vendor invoices.
Process and audit of Employee Expense report Resolves collection and invoice discrepancy matters.
Assist for periodical closing of books of accounts and work with Auditors during annual audit.
Rectified escalated accounts payable issues from employees and vendors.
Verified details of transactions, including funds received and total account balances.
Processed Month End closing and reports. Daily inter-action with vendors.
Processed monthly journal entries and prepared bank deposits. Researched expense questions for upper management team.
Prepared financial statement periodically and calculated the net asset value (NAV).
Allocated and distributed income and expenses to the General Partners and Limited Partners.
Communicated with investor in connection with the preparation, distribution of investors’ statements.
Coordinated with the auditors in connection with the yearly audit of the Funds.
Liaised with fund managers, Fund custodians, prime brokers, and other related parties.
Maintained good business relationship with existing Fund clients, Prime Brokers and Custodians.
Determined strategies for collecting debts from delinquent customers.
Improved direct client service in issues relating to cash flow and credit.
Accounting for sales, purchase, site expense and other overhead expenses.
Coordinated approval processes of all accounts payable invoices.
Researched and resolved billing and invoice problems.
Performed extensive research regarding IPO’s and transfers in progress.
Created and maintained Excel spread sheets for specific counter parties.
Preparation of Pay roll and distribution of salary to employees.
in their Head Office at Ahmadi, and work handled is summarised as under
Managing all work related to Letter of Credit- Establishment LC for Local and Foreign Suppliers.
Negotiating Terms & Conditions with relative clients or suppliers for opening of LC.
Execution of all work related to import & export LCS until the final settlement/Liquidation.
Execution of all work for Establishment, Amendment and work related to all of Bank Guarantees such as Tender Bond, Performance, Advance, Retentions, Purchase, MOSL LGS and third party Guarantees.
Preparation of monthly outstanding reports and status reports of all active LC’s & BG’s.
Processing for APN Loan against LC Payments, Preparation of Bills of Exchange etc. for LC dues.
Bill Discounting and negotiation of documents & other bank related work against Incoming Letter of Credit.
Supervising all accounting work, preparation of Management information reports.
Preparation of Monthly cash plan through monthly cash budget/ Cash flow forecast.
Accounting for Accounts receivables- Preparation of Monthly statement for pending collection reports.
Alerting the Projects execution/ operation managers for the outstanding receivable/ unbilled revenue.
Reporting to the top management regarding Revenue /Collection -Debtors Turn Over.
Cost and Revenue comparison, Budgeted cost Versus Actual cost & reporting Variance.
Accounting for Accounts Payables - Disbursement of Payment as per the ageing of Payables.
Planning of Payment distribution according to the availability and of Fund status.
Preparation of Quarterly of cash flow forecast and planning the disbursement of Payments.
Planning for re-payments of loans and other short term debts, as per availability of Fund.
Bank reconciliation, other a of inter companies, accounts reconciliation of A/R and A/P.
Reconcile GL Accounts with related Sub-Ledgers. & make necessary rectification JVs.
Interacting with external customers for various queries relating to facts and figures.
Developed and maintained monthly job-cost/ profit analysis and reported to top management.
Compiled and analysed sales and revenue data to assist in budget preparation.
Analysed and reviewed purchases of new equipment and materials for Projects operations.
Carried out all necessary day to day accounting responsibilities, including journal entries accounts payable/ receivable, bank deposits, invoicing, collections, etc.
Allocation of General Overheads expenses to related operation unit, project & cost centre