Muhammad Rizwan سيد

Controlling & Budgeting
• Controlling the accounting and routine finance operation and reporting to the shareholders. Ensuring the accurate and on time, month, quarter and year close.
• Having an understanding of Power and water Purchase agreement, Operation & Maintenance agreement, Long term maintenance agreements, Global Financing Agreement, Common Term Agreement, Shareholders Agreement, etc. and dealing with the entities accordingly.
• Propose improvements and maintain all necessary systems, policies and procedures to ensure effective and efficient financial management in the company
• Supporting Finance Director in budget preparation and also reporting about the Financial Performance of the company.
• Variance analysis of Actual Vs Budget and actuals year on year basis, Reporting Month to date, year to date results.
• Balance confirmations on each quarter closing with the associated companies.
• Question operations or administrative matters impacting finance aspects.
• Hi-lighting the Key financial risks and taking appropriate actions to mitigate them
• Keeping good relationship with auditors, financial institutions. Lawyers and Government authorities.

Accounting & Financial Reporting
• Maintain accounts for three companies, Mirfa International Power and Water Company, M Power O&M Company and Shared Facility Company and get them Audited.
• Maintaining full project accounts and cash flows for the project.
• Monthly reporting to management the cost analysis and variance report and in comparison with budget and initial financial Model.
• Reporting in SMART (group consolidation software) of Engie (formerly GDF Suez) both financial results and the budgets.
• Responsible to present accounts to external auditors (E&Y) and get it audit with unqualified report.
• Look after the financial and accounting matters of Operation & Maintenance Company and Shared Facility Company and get the accounts audited.
• Complete and proper accounting record maintenance in the computerized accounting system i.e. Microsoft GP
• Collecting data from maintenance and operation to book proper provisions and accruals into the accounts

Treasury Management:
• Projecting cash requirements from the coming months and making drawdown accordingly
• Quarterly fulfilment of financial obligations under Global finance Agreement.
• Dealing with the bankers locally and internationally
• Liaise with Foreign Bankers for payment settlements, forward exchange Hedges and facility hedges
• Timely payments to vendors
• Compulsory bank reconciliations

Payable Management
• Accounts payable management, making sure that payments are released on due dates after due verification.
• Making sure about the availability of funds management
• Assessment of financial strength of vendors before adding vendor into the list of approved vendors
• Financial assessment of vendor quotations before proceeding towards final contract.

Invoicing
• Gathering data from operation for capacity and output payments invoices and verify them as the PASS system is not yet Active
• Verification of invoice data and all parameters and finalizing the invoice to Abu Dhabi water and Electricity Company.
• Follow-up for the settlement of said invoices.

Payroll
• Reviewing and release of payroll in consultation with HR department and Director Finance

Secretarial
• Support Finance Director for Board meetings presentation.
• Compliance with the legal and regulatory requirements in UAE.
• Dealing with Engie group legal department for various legal advisory.
• Compliance with the legal, monetary and regulatory requirements in UAE.
• Archiving and proper record keeping of all financial records

Others
• Being HSE committee member participate in the implementation of Health & Safety policy of the company.
• Co-ordination with Procurement, stores and administration sections

• Respond queries from shareholders about the accounts.

Shuweihat 2 Operation and Maintenance Co. WLL is a joint venture of two giants in IPP i.e. Marubeni Power Asset Management and GDF Suez. The company is running a power plant of 1500 Mwh in Ruwais, Abu Dhabi.

Being the first Finance person in the company was responsible for the following:
• Designing the complete accounting system on Excel to record the transactions on immediate basis with reporting to the Parent companies
• Implementation of company’s accounting policy including policies for payments, petty cash, and payroll.
• Implementation of internal controls in integration with operation and Maintenance department
• Defining key indicators and preparing the budget for the year.

Besides above being the Head of Department I am Responsible for following routine activities
• Controlling the accounting function and reporting to the shareholders.
• Preparing budget and reviewing it thrice during the year. Monitoring the actual performance and guiding the management in decisions making accordingly
• Attending the board meetings and formally presenting the financial position about the crucial issues and forthcoming situations.
• Reporting in SMART (software) for group consolidation (International Power GDF requirement)
• Fund management of the company and tightly monitor the funds flow and maintain the liquidity position of the company.
• Complete designing of structure and implementation of FICO & MM modules of SAP
• Preparation of a long term plan for 7 years and performance review.
• Defending the budget in front of Directors and Business Controllers.
• Monthly and detail quarterly Budget vs. Actual analysis of the results.
• Supervision of Store supervisor for maintaining inventory records.
• Physical count on ad hoc basis.
• Handle the bank account and establish petty cash fund for emergency and petty expenses
• Responsible present accounts to external auditors (E&Y) and get it audit with unqualified report.

Imperial Developers & Builders (Pvt.) Limited is a part of Mega & Forbes group that deals in construction of multistory projects. Appointed as the first manager finance in the company after change of management and reconstruction of the organization structure. The immediate assigned responsibilities are as follows:

• Prepared a complete financial feasibility of the project and investment analysis.
• Complete implementation of accounting package over AS400 machine as required by the corporate office. (Total New System)
• Designing and drafting of policies and procedures for procurements, payments, capitalization, etc. in consultation with Group Head Office.
• Supervision of Store Manager for maintaining inventory records in accordance with G/L.
• Sixth month forecasting and annual budgeting and analysis.
• Preparation of monthly, half yearly and quarterly accounts.
• Daily reporting to Head office regarding fund position, costs schedules, inventory positions, payable summary.
• Financial analysis of the various activities of the company and reporting to Directors including cement & iron, projected financial position for next three months. Allocation of funds for future activities.
• Responsible for bills payment after checking the bill in light of work order / purchase order assigned. Making advance adjustments, material deduction, retention money and tax deductions or any other adjustments.
• Responsibility includes overall management of finance and funding, accounting records and reports as well as ensuring controls applications. Preparation of financial feasibilities for projects, preparation of all financial reports including final accounts and tax returns, ensure compliance with legal, standards and company policies.
• Liaison with auditors, bankers, insurance agents, tax consultants. and Govt. Authorities

Working as the head of the department and looking after all the financial as well as accounting functions of the company.

Developing strategies of the company for the future prospects
Implementation of controls over stores receipts and payments
Budgeting the business activity
Projecting Funds position
Formation of import plan over the expected sales under the available sources of fund.
Timely production of Financial Statement and supervising the final audit
Secretarial matters of the company

FINANCE & TREASURY
I am working under the supervision of General Manager Finance. My key responsibilities included the following:
 Working for all sorts of the financing facilities, including Term Loan, Running Finance Facilities, TFC issuance etc.
 Processing Legal Documentation for the facilities
 Analysis of proposal from various banks
 Managing external stake holders including SBP, DFI’s and NBFC’s
 Liaision with the Bankers for short term investment
 Management of Funds
 Consolidation and review of annual budget with an overall responsibility of monthly variance analysis.
 Feasibility reports for the expansion projects
 Ensure corporate compliance to government regulations and internal controls
CORPORATE ACCOUNTS

 Also involved in the quarterly, half yearly and final accounts of the “PC Hotel Muzaffarabad Project”
 Involved in the establishment of a new Public Limited Company named as Tejari Pakistan Limited the only B2B e-market place in Pakistan. Designed the whole accounting system and controlled the accounting functions till handing over to the new staff after successful certification of receipt and payment affairs from auditors and thereafter statutory external audit of the company.
 Schedules for the quarterly and half yearly accounts of the companies
Preparation of the quarterly accounts of the subsidiaries
FINANCIAL ANALYSIS

 Preparation of Budget with the coordination of properties.
 Monthly variance analysis and comparison of the actual results with the budgets
 Analysis of financial statements of the company and also the other group companies
PROVIDENT FUND
 Management of portfolio of listed securities, including TFCs, Mutual Funds, Shares etc.
 Analysis of various mutual funds for investments
 Availed letter of appreciation on the successful completion of audit for the year ended June 30, 2007 after 17 days of close of accounts.

Achievements:

1. Coordinated with the system developers to change the FoxPro Accounting software into Oracle based financial system and centralize various branches the company all over Pakistan, Afghanistan and UAE through web.
2. Streamline the accounting system, develop accounting policies and implement internal control system throughout the organization.
3. Analyze the performance of the whole organization from different aspects i-e department wise, branch wise, period wise, job wise.

Other responsibilities include

• Preparation of financial statements.
• Reporting to a director in Germany
• Budget planning and monitoring
• Cost analysis of jobs
• Analysis of monthly accounts
• Liaison with banks, auditors, consultants and parties.
• Cash, debtors and creditors management

Making Bank reconciliation statements
Making adjustments regarding the bank accounts in G/L
Making various schedules for final accounts
Calculation of interest income and recording
giving realization to the receipts against each order.
Assisting in sales tax affairs
G/L Maintanace
Assistance in sales Accounting