Financial controller/ Treasury Manager
SENAAT- General Holding Corporations
Total des années d'expérience :19 years, 6 Mois
Acted as financial controller, whereby I was mandated to set up accounting and finance dept for one of our newly established entities( specializes in manufacturing oil and gas pipes ), my role involved :
1) Designing the chart of accounts
2) Implementation of new ERP system
3) Develop and design dleegation of Authority
4) Negotiated with banks to establish working capital facilities for the company .
5) Managed cashflow
As Treasury Manager at SENAAT, my role involved :
• Raised long term financing for USD 250 million Joint Venture through Japanese ECA
• Dealt directly with credit agencies when issuing SENAAT’s first credit rating
• Co-managed the debut issuance of SENAAT’s USD 300 million Sukuk
• Refinanced revolving credit facilities to ensure liquidity to support the company’s operations and growth plans
• Worked closely with a team of financial advisors on valuing the company for a potential IPO
• Part of task force that worked closely with international financial advisors to prepare bankability report for several major industrial projects
Daily job responsibilities include:
• Forecasting cash flow, managing any excess cash and ensuring adequate liquidity available
• Managing all debt servicing activities and ensuring debt compliance
• Managing the relationship with the banks, negotiating credit facilities, updating bank mandate
• Coordinating with credit agencies for their annual review, ensuring all required reports are updated
• Coordinating with the Internal Audit/ External Audit/ Statutory Compliance team and providing required documents for completion of the internal audit/ external audit/ statutory compliance checks/ programs
• Assist subsidiaries under development raise finance by negotiating with banks and structuring the deal, coordinating with Legal Dept regarding documentation
• Working closely with the investor relations department, providing rigorous financial analysis, as and when required in coordination with Investor Relations department
• Preparing periodic treasury reports to senior management and ad hoc reports requested from key stakeholders (including DMO, GSEC)
• Carrying out SENAAT’s risk management policy through interest rate and foreign exchange hedging programs, executions of IRS’s and other derivative products
•Ensuring compliance of Senaat and subsidiaries to budget policies and procedures
•Analyzing trend movements in subsidiaries on a quarterly basis
•Consolidating and developing GHC’s financial plan and forecasting financial performance
•Preparing presentation for the Board of Directors and developing management information reports
•Measuring financial KPI’s against target and analyzing variances and profitability trends
•I have also been assigned to assist the treasury manager day to day work, and currently i'm responsible for maintaining cashflow forecast
•Assisting in preparation and consolidation of budgets for accurate and timely submission of business plan.
•Preparing monthly management accounts and analysing balance sheet and income statement.
•Compiling data for the audit team & and co-ordinating with them, providing all requested information in a timely manner & reviewing statutory accounts.
•Consolidating financial data, including eliminating entries to report to Parent company.
•Preparing Actual vs. Budget reports for management presentation
•Supervising and assisting in month closing procedures, reviewing reconciliations of general ledger accounts, fixed asset register, accruals, prepayments and bank reconciliation.
•Reviewing all cash & bank records, payable accounts, and invoices.
•Preparing and processing payroll for payment, calculating pension for UAE nationals, checking all staff related costs.
•Supervising and reviewing the work of the accountant and provide guidance and advice on day to day operational issues
•Enhancing the reports generated from the accounting software
•Worked closely with the finance manager to design new forms to meet corporate governance requirements.
•Performing audit on financial statements in accordance with International Standards on Auditing (ISAs); preparing audit plans & strategies; examining internal controls and identifying areas of weaknesses.
•Preparing financial statements, analyzing complex accounting and reporting issues and consulting with the client on appropriate treatments in accordance with International Financial Reporting Standards (IFRSs).
•Effectively managing the audit process with appropriate consideration of audit risk issues and accounting technical matters.
•Identifying areas requiring improvement in the clients’ business processes and possible recommendations and preparing and delivering Management Letters to be provided to the clients.
•Coaching other less experienced staff through sharing experience and knowledge appropriately
•Applying a solution-based approach to problem solving, referred to for research on delivery of solutions in that field on client assignments.
Below listed are some of the assignments I was involved in:
Audit engagements in the following sectors (in-charge):
Financial Services: Arab African International Bank, The National Investor PrJSC investment funds (UAE Blue Chip Fund, MENA Real Estate Active Fund and UAE Dana Women Fund), Union Brokerage Company, Emirates Securities and Commodities Authority.
Manfacturing: Grandmills for flour and feed factory (Subsidiary of Agthia PJSC group, AlFoah Company LLC, Abu Dhabi Vegetable Oil Company LLC
Government : General secretariat of the cabinet (Ministry of Cabinet affairs),
Real Estate: Al Hail Properties.
Media: Emirates Media Incorporation, United printing and publishing