Salamat Ali

Organization Type Manufacturing & Trading of Rebars & Sectional Steel Web Address
www.paksteel.com
Designation
Manager Finance (Dy)
Location Islamabad, Pakistan Type of Experience Full Time Tenure Mar-2014 - Present Description Manage all bookkeeping, accounting and reporting frameworks in the group and reporting the results to senior management. Implement, Train the staf and lead for the Oracle ERP solution at group level and other information systems. Pursue and closely monitor day to day Opex & Capex and approvals. Appraisal of (New Steel Plant) investment and analysis. Capex & Opex spend analysis and compliance for the new projects. Audit, Controls and Spot checks regarding daily purchases (Including Capex for New Projects) verify End to End Process from Order, Delivery to Issue for Production and Sales. Responsible for the Profit & Loss account and balance sheet. Plan, organize and implement financial and administrative policies of the company to efectively run the day to day business. Prepare financial plans and budgets to guide the management to adopt rationale decisions making process in the light of financial feedback to achieve the financial goals. Manage the entire business units and assure that the lean process is followed. Manage the due diligence process and devise the internal controls strategy and procedures to exercise efective corporate governance. Responsible for the overall commercial, financial and technical aspects of the business.

Experience:

Advise and guide the management with regards to the corporate finance and
Day to day accounting and reporting matters. Prepare the financial models for the
new projects in development pipe. Ensure the accounting & financial controls are in
place and train the staff to create a positive control environment. Prepare the
feasibilities studies for the new projects and arrange the project finance or raise
The loan capital. Steering the monthly management meeting and present the
Operating results with commentary on performance. Drive the growth and
Measure the performance as per KPI, s. Negotiate the terms with the banks and
Maintain relationships with banks.

Prime Objective is to organize and manage the Global Shared
Services finance function and validate the data and process for the month end close and consolidations and reconciliations to start reporting the figures. Compare the results with KPI’s and work out for any major differences and report accordingly. Take initiative for BPR (Business Process Re-Engineering) if needed to remove bottlenecks and suggest smooth operations. Monitoring performance and efficiency, analyzing change and conducting risk assessments. Participating in strategic planning, and formulating long-term business plans. Researching and reporting on factors influencing business performance. Conducting reviews and evaluations for cost-reduction opportunities. Communicating the budget to each department and inform them of the spending behavior and budget utilization to control and remain within limits.Improve company profitability by efficient working capital management through reducing overall outstanding with our customers by improving collections.
Suggest/implement ideas to improve the financial performance of the company.Ensure all documentation is maintained to the highest standards and compliant with the Supreme policies and Audit requirements. Implementation of IFRS across the BSU’s through simplifying the IFRS adoption approach and disseminate to Financial Accountants.

Manage day to day finance operations in a shared services environment and keep the transaction clear and validated. Start month end close process soon after the end date and gather information and pass necessary journal entries to GL for the complete accounting reports i.e Accruals, Prepayments, Fixed Assets related entries and adjustments to
A/R & A/P. Liaise with supply chain and purchasing department for any outstanding issues which may affect the month end reports and taking necessary provisions to report completely and accurately. Look after Capex and capitalize the assets after the work is completed. Evaluate the new projects (Capex) using DCF methods and NPV and facilitate the management to set up new production lines or extension of current
facility. For the proper control systems in place, collecting supplier’s
statements and reconciling before making the payments to all local and international suppliers. Liaise with external auditors for the audit engagements. Preparing for the payroll and updating the staff cost ledgers. Following the IFRS and Jotun Accounting Standards for the
accounting treatment of various assets and liabilities.

European Union financial directives compliance and Control of financial expenditure to meet the objectives economically. Assurance of the internal control and due diligence process effectiveness. Development of the yearly financial and physical budgets following Preparation of the Financial Statements for onwards reporting to the project management. Prepare replenishment requests for funding requirements and Follow the Financing Agreement between Government of Pakistan and the European Union.
Prepare Grants Proposals and keep all documents in line for spot checks and
reference to Donors and project partners and stake-holders. Follow the EC council of ministers directives relating to the financing and procurement procedures described in the operating manual for day to day operating of the project. Single POC for all project querries. Meet the tendering requirements for the procurement Making administrative arrangements on the visit of European Commission Head of Development and other EC
delegates to the project intervention/target areas.

Looking after the Group Accounting Operations and Treasury and banking
transactions in routine. Accounting treatment of various assets and
liabilities. Supervision and validation of daily receipts and payments.
Looking after GL A/P A/R operations and reconciliations.