Financial Controller
AWI LLC
Total years of experience :17 years, 2 Months
•In charge of presenting consolidated financial and management reports of all business entities in Dubai and Iraq including financial analysis, schedules and reconciliations in a timely manner.
•Leadership of the finance department in Dubai & Iraq (Sixteen Accountants) including management of creditor and debtor functions and all billing processes and procedures.
•Oversee the entire monthly accounting close e.g. adjustment Journal entries, earned not billed adjustments, asset depreciation, provisions, tax accruals, prepayments, intercompany and bank reconciliation, employee’s expanse claim and advances.
•Reviewing and approving payment vouchers, bank transfers, purchase orders, Payroll, staff leave and gratuity calculation .
•Establish and implement effective accounting policies for all operations activities of all projects sites in Iraq to ensure proper documentation and internal control compliance.
•Management and finalization of annual audits
•Work closely with project managers in terms of preparing annual budget, reviewing projects result, and cost to date, reviewing upcoming opportunities and current contracts.
•Oversee all corporate and human resource activities including employee benefits, retirement plans, corporate insurance and related activities.
•Manage and oversee procurement activities: procurement process, purchasing policy and control. Corporate level negotiations (project supplies, warehouse, rents, insurances, etc.).
•Ongoing training and development of the finance team, and to wider members of the organization relating to financial processes and procedures.
•Oversee legal activities: supplier contracts, client contracts, partnership agreements (Joint-Ventures), leases, and other legal documents.
• Handle full spectrum of financial and cost accounting role eg. AR, AP, GL, forecasting, budgeting..etc
• Responsible for day to day finance and accounts operations
• Review & approve payment vouchers & journal entries prepared by Accounts team.
• Perform cash flow forecasting, budgeting and working closely with the operations and Hospital’s respective departments on cost reduction initiatives
• Develop and maintain internal control and effective accounting system and policies for the set up.
• Support CFO in ensuring that intercompany cost allocations are in line with management agreements and transfer pricing policy
• Analyze operations and develop and recommend more efficient and effective methods, systems and flow of work
• Supervise and assigning tasks for accounts team “ Ten Accountants”
•Primary responsibility is to prepare financial statements of associated offices in KSA, Bahrain & Abu Dhabi and supporting schedules according to monthly close schedule.
•Ensure the accurate and timely processing of accounts payable/receivable, purchase orders, petty cash, employee expense reports, cash control, payroll processing..etc.
•Reviews accounting documents to ensure accuracy of information and calculations and makes or directs correcting entries.
•Reviews and recommends modifications to accounting systems and procedures.
•Work closely with other members of the finance team in the associated offices to ensure timeliness, accuracy, relevance and integrity of financials
•Preparing P&L reports with breakdown of the revenue/expenses for the current month, to be compared with budgeted figures, also the variances on monthly basis & YTD; and quarterly forecasts
•Interprets financial operating results for business decisions and makes recommendations on cost reduction and increased profit opportunities.
•Annual budgeting & cash-flow projections for all GCC offices, working closely with sales managers, Head of Finance to provide assistance as needed.
•Responsible for annual financial statements and audits with independent external auditors
•Supporting sales team in terms of financial management and administrative policy, specifically monitoring margins on sales and supporting them to meet annual targets
•Liaising and negotiating profit share from the affiliated companies owners.
Company Profile: This investment company specializes in property and land portfolios, consisting of several entities across the GCC. It has numerous development projects across the Middle East and sells land worldwide. This role reports to the board and some of the responsibilities include:
•Key objective: to ensure that internal controls are instituted and maintained for Dubai operations, financial reports are produced in a timely and accurate manner, accounting records and databases are complete and secure, effective credit control measures minimize unplanned credit and financing options are in place for Dubai projects
•Producing monthly profit and loss statements, balance sheets and KPIs within tight deadlines
•Preparing and monitoring daily cash positions for 5 banks accounts in 3 currencies
•Preparing weekly cash flow forecast including update of bank reconciliations, current and expected invoices, and forecasted payments and funds received
•Responsible for project accounting for Dubai projects including International City, Marina Suites, Jumeirah Village and Jumeirah Suites
•Processing inter-company transactions and inter-company accounts reconciliations for 12 companies
•Liaising and developing relationships with 3 banks, audit assistance
•Producing payrolls for 35 employees, including calculations of property sales commissions to employees and external agencies
•Assisting with annual budget preparation and reporting variances against actual/forecast
•Responsible for systemization of all accounts matters and improvement of procedures and controls.
•Responsible for project Accounting for Dubai and Sharjah projects (Sharjah natural gas distribution Project - Phase II/III, Dubai Hill Side Project, Jumeirah Island project, Palm Jumeirah)
•Updating and reconciling all ledgers and banks, including processing and paying invoices, for several legal entities
•Reconciliations of balance sheet, profit&loss, bank and inter-company accounts
•Cash collection
•Preparation of payroll for 80 office employees and 300 sites laborers.
•Maintaining and updating list of fixed assets and depreciations
•Preparation of monthly invoices to JV partners for expenses incurred on their behalf
•Preparation of valuations and maintaining retentions for all subcontractors
•Reviewing and audit of all invoices and ensure that they are in compliance with financial policy
•Reviewing and audit of all employees’ expense claims and ensuring supporting documents are attached and properly authorized.
•Maintaining all employees’ records including monthly timesheets, annual and sick leave, bonuses, increments, payroll deductions, warning letters etc.
•Preparing monthly financial statements
• Posting daily transactions.
• Maintain General and subsidiary Ledger
• Preparing monthly trial balance.
• Preparing bank reconciliation.
• Control of fixed asset register & depreciation.
• Participate in preparing financial statements and closing account.
• Prepare Monthly payroll.