Financial Analyst
Company for Cooperative Insurance (Tawuniya)
Total years of experience :14 years, 1 Months
I have worked in the exterior financial realm. As a Financial Analyst, I was able to provide;
•Proposed the Cost cutting strategy to be implemented as the insurance premiums can’t be increased by certain limit as restricted by regulatory authorities (CCHI).
•Conducted cost benefit analysis to outsource the Manafeth motor insurance facility resulting in savings and increase in revenue.
•Analyze and interpret monthly variances and trends between budgets, actual and prior results in developing projections and forecast.
•Assistance related to data processing, budgeting, spending cap adjustments, accounting, etc.
•Developed new training and quality guidelines to ensure maximum effectiveness.
•Analyzing current and past financial data and performance, preparing reports and projections based on this analysis.
•Establishing and evaluating profit plans, Identifying trends in financial performance and providing recommendations for improvement.
•Improves financial status by analyzing results; monitoring variances; identifying trends; recommending actions to management.
Accomplishments
My biggest accomplishment with this job was learning about external reporting including monetary agency and to write reports related to audited financial statements to stakeholders. I also worked with consultants to forecast 5 years budgeting plan which is successfully implemented.
Skills Used
I demonstrated skills that show that I'm a team worker, and my ability to catch on quickly to different areas.
Prepared reports for General Accountant maintained corporate accounts with accuracy and great attention to detail. Analyzed and delivered corporate financial documents and statements in required format and within time frame required by corporate policies. Effectively oversaw controlling of banking correspondent accounts.
•Issues import and export letters of credit and accepts payments: Notifies exporters and importers of issuance of letters of credit covering shipment of merchandise.
•Reviews letter of credit documents to determine compliance with international standards.
•Verifies terms of credit, such as amount, insurance coverage, and shipping conditions to determine compliance with established standards.
•Coordinates customer credit information and collateral papers to comply with bank credit standards.
•Maintain the vendor and contractor payment record and budget comparison analysis.
•Monitoring cash flow and cash requirements of the company to ensure covering all dues, expenses and investment requirements for the coming period.
•Posting of Daily JV to Respective Ledger Accounts & General Ledger.
•To reconcile any variations in accounting records.
•Preparation of Monthly Payroll and its timely submission to HR Manager for its verification and finalization.
•Handling/Controlling of Petty Cash, in coordination with cashier, and its well on time replenishment, thereby adhering to the preset Company Policies and Procedures.
•To follow the related Staff (Purchaser or concerned), in connection with Cash Advances (thru Cashier), regarding Cash Invoices along with all supporting documents, including Quotation, Purchase Request duly signed and approved by Operation Manager.
•Preparation of Cheque Payment Requests, in connection with Suppliers, thereby, keeping in view that all related Documents are attached thereto, including P. O, P. R, Quotations and other document(if required).
•To provide all necessary information to the Finance Manager & General Manager in connection with the Costing/ Reports finalization to meet Management’s informational needs.
•To Reconcile Local & Foreign Banks Accounts with our System.
•To coordinate with the Senior Accounts Executive & Finance Manager in the conduct of External Audit and preparation of Schedules in that connection.
•Preparation of Monthly Project Cost report & Variances of such costs with Budgeted Cost.
•Preparing Monthly Budget & Master Budget for the Financial Year.
•Reporting to the Finance Manager, any Variance between Actual & Budgeted Expenditure.
•Recognition of Project Costs & Revenues according to the Percentage of Completion provided by Site Experts.
•Checking & reviewing whether all International Accounting Standards have been followed in Preparation of the Financial Statements.
•Checking & reviewing whether all elements of Financial Statement meet’s International Audit Standards at Control level & Assertion Level.
•Supervising all accounting activities & reviewing work for multi-dimensional work
•Develop a system of recovery and repayment to track the outstanding and collection process.
•Reconciliation of Books and accounting entries to produce the error free results.
•Develop all type of MIS and customer reports for top management.
•Overview of different type of accounting committees and finalize the budget/policy and AOPs.