Financial Controller
Premier Code Private Limited (JV of Premier Systems and JSR Telecommunications)
Total years of experience :11 years, 1 Months
• Prepare financial statements of the company and provide financial reporting and analysis to management;
• Prepare financial planning, budgeting, and forecasting and create variance analysis reports and financial models;
• Monitoring and balancing cash flows into and out of a business to meet obligations;
• Manage all accounting operations including A/R, A/P, JV, inventory cost accounting, revenue recognition;
• Design and Implement SOP and ERP in the company as per industry requirements and review for gap analysis;
• Coordinating with external financial, compliance, and tax auditors; and
• Prepare management and dashboard reports (including month closing) to analyze operation and performance.
• Analyzed production costs and their drivers, there from advised on opportunities and optimization;
• Analyzed utilization of factory operations, and production facilities and advised alternative utilization plans;
• Lead and performed monthly closing activities related to factory operations regarding inventory valuation, stock reconciliation, system entries, etc.
Achievements
• Lead an engagement in collaboration with KPMG for gap analysis and strengthening of internal controls;
• Collaborated with Abacus for SAP B1 improvement plan to identify inefficiencies and suggest improvements;
• Introduction of the different modules such as production and fixed assets in SAP B1 including dashboard reports for timely decision-making by management;
• Overhauled the costing model as per industry and standards requirements and prepared to cost manual; and
• Reduced monthly factory overheads by up to 25% by removing constraints and advising alternative utilization plans.
• Designed an effective budget model for the company and implemented effective budgeting policies and procedures;
• Prepared OPEX and CAPEX budgets and suggest spending improvements to boost the bottom line;
Achievements
• Enhanced cash flow and implemented strong internal financial control by restructuring organizational financial authority procedures and policies;
• Implemented transparent cash-in-hand management and credit control policies enabling the organization to adhere to business ethics thereby enhancing corporate brand image;
• Implemented variance analysis and forecasting techniques on budgeting resulting in enhanced internal customer satisfaction;
• Achieved budget reduction of 12% through improved IT expenditure; and
• Reduced warehouse expenditure by up to 10% and enhanced profit by implementing distributor-wise P&L A/C.
• Prepared QLED OPEX and CAPEX budget, forecast cash flow position and monthly Profit Loss A/C;
• Reviewed day-to-day financial operations about financial accounting in a payable and receivable module;
• Supervised inventory management in coordination with supply chain management;
• Analyzed cost, pricing, sales results, and the company’s actual performance compared to the business plan;
• Correspond with other departments, discussing company plans and agreeing on future paths to be taken; and
• Implemented strong internal control by introducing Standard Operating Procedures (SOP) and Financial Policies by establishing the delegation of powers via an authority matrix.
• Managed day-to-day function of accounts payable and receivable section in ERP environment;
• Prepared profit & loss a/c of all Haier Mobile outlets present to CFO;
• Prepared and managed the aging analysis of creditors and bank reconciliation statements;
• Prepared and managed all activities related to bank and imports; and
• Supervised the verification of withholding tax, sales tax, PRA, EOBI, provident fund, Bonus, incentives, final settlement, and salaries.
• Core responsibilities to ensure financial statements comply with IFRS as applicable in Pakistan and Company
Ordinance 1984 while assessing various areas of the statement of financial position;
• Performed risk assessment, evaluate control environment, identify key control activities, understand and documented business cycles, and tested the operating effectiveness of controls;
• Identification of operational and business risks in internal control and comparing them with industry best practices.
• Prepared, presented, and interpreted financial information for management; and
• Prepared the audit opinion with the manager's help and various letters of communication with the client’s board.
Clients:
- Millat Tractors Private Limited
- Abid Group of Companies
- Spell Petro Chemicals Private Limited
• Objective to include checking compliance with various statutory and voluntary frameworks;
• Interpreting financial information for management;
• Performed Substantive analytical procedure and test of control; and
• Communicating with the client on various issues identified during the audit.
Clients:
-EMCO (Public Limited)
-Pace Pakistan (Public Limited)
-World Wide Fund (WWF)
-Agrow Private Limited