Head of Finance
Virtuzone UAE FZ LLC
مجموع سنوات الخبرة :18 years, 5 أشهر
Key member of senior management team
Joint bank authorized signatory with Managing Director
Responsible for Annual Business Planning and Budgeting
Perform through analysis of variances between budgeted and actual results
Manage working capital especially in relation to Receivables
Commercial and Financial review of all types of contacts and agreements
Finalize and review of comprehensive month-end management reports and year-end financial statements
Improve reporting capabilities to monitor key business drivers and key performance indicators
Present monthly financial results and key ratios to the shareholders and other senior managers
Initiate and handling Business Process Re-engineering projects to reduce cost and improve productivity
Handle statutory and periodic audits and implementing the audit recommendation in an efficient and timely manners
Ensure compliance with International Financial Reporting Standards (IFRS)
Provide strategic advice to the shareholders on both corporate and personal financial matters
Conduct ongoing financial risk analysis and implement economical and effective controls
Monitor price of the competitor’s products for better decision making
Place excess funds into term deposits, corporate bonds and other liquid short term investments
Conduct profitability analysis for new projects and products
Process both WPS and non WPS payroll and managed employees’ leaves and gratuities
Gather knowledge of the client business and review their business process
Conduct business and audit risk assessment
Identify the risks and key control and design the audit programs.
Effectively plan and coordinate projects to meet deadlines
Supervise, train and motivate team members
Analyze business information and evaluate business activities' performance.
Recommend management controls improvements to manage the key business and financial risks
Co-ordinate with professionals in various fields like legal, actuarial and IT experts
Ensure compliance with the requirements of International Standards on Auditing and PCAOB standards and other SEC requirements for audit engagements
Performed assurance engagements at prestigious clients such as Middle East Communication Networks WLL & its subsidiaries, Jumeirah International LLC, Jumeirah Group LLC, Energy Management Services LLC, Ahmed Seddiqi & Sons LLC & group companies, , Easnets FZ LLC and group companies
Manage relationship and negotiating with banks
Lead and manage a department of 7 employees
Prepare periodic cash flows and bank reconciliations of more than 50 bank accounts
Manage short term and long term borrowings and gearing and leverage ratios
Minimize / hedge risk on foreign exchange transaction
Deliver presentation and reports on the performance of the department
Assurance engagements:
IJM Construction Pakistan (Private) Limited - Statutory annual audit 2008
Unilever Pakistan Limited - Statutory interim audit 2008
Al - Ghazi Tractors Limited - Statutory interim audit 2007
Dupont Pakistan Operations (Private) Limited - Statutory annual audit 2007
Unilever Pakistan Foods Limited - Statutory annual audit 2006
Attock Cement Pakistan Limited - Statutory annual audit 2005
Internal audit engagements:
Gul-Ahmed Textile Mills Limited: Gap analysis over Payment Processing Cycle by using best industry practices as a benchmark
Yunus Textile Mills Limited: Gap analysis over Monthly Close-the-Books Cycle by using best industry practices as a benchmark
Financial Due Diligence engagements:
Pakistan PTA Limited
Sigma Leasing Corporation Pakistan Limited
Global Securities Pakistan Limited
Financial and Accounting Services engagement:
Bank Islami Pakistan Limited: Construction and maintenance of Auto Ijarajh (Islamic car financing) database and prepared a statement of overdue lease rentals for submission to State Bank of Pakistan