Financial Controller
French Bakery
مجموع سنوات الخبرة :20 years, 8 أشهر
M/s French Bakery Group, Dubai & Oman - www.frenchbakery.ae (Mar 2013 Onwards)
Member of Bu Haleeba Group, Dubai
Financial Controller - Reporting to Group CEO
French Bakery is a unique French concept of a Bakery plus Café plus large scale production facility. It is famous for its artisanal pastries and confectioneries. La Marquise is an Italian cum Lebanese food restaurant and café. The key roles and responsibilities of my job profile includes:
• Supervising all the financial and accounting functions of the team and the organization.
• Overlooking team of 25 staff with direct reporting from Chief Accountant, Cost Control Manager, Credit Control Manager, Invoicing Supervisor and Store Supervisor.
• Cash Flow Management & Forecasting
• Cost Controlling
• Financial Reporting & GL Management
• Budgeting, forecast and predictive analysis
• Internal Controls
• Accurate and timely monthly, quarterly and year end close
• Timely reporting of all monthly financial information
• Develop company’s Franchisee network and formulate Area Development contracts.
• Introducing ERP systems and successfully implementing the ERP system in order to control the movements of inventory and maintain accurate recipes effectively and efficiently.
• Prepare feasibility study for new outlets / store and plan extensively for facility developments.
• Responsible for implementation and control all areas of VAT & Excise tax in the ERP system, including keeping up to date with the appropriate legislation and developments with Federal Tax Authorities.
M/s La Marquise International Group, Dubai&Oman-www.lamarquise.ae (Aug 2016 - Dec 2017)
Member of Bu Haleeba Group, Dubai
Finance Manager - Reporting to Group CEO
La Marquise International is one of the leading distributor companies in F&B related Professional Equipment and Products with Ingredients for Pastry, Bakery and Gelato in the UAE & Oman.
• The role is similar to that in French Bakery with the following additions:
• Overlooking team of 25 staff with direct reporting from Chief Accountant, Inventory Controller, Warehouse Manager & System Controller.
• Development and maintaining warehouse with area capacity of approx. 30, 000 sqft.
• Analyze feasibility of new brands in terms of expected turnover, storage and benefits.
• Discontinuation of weak brands and plan for clearance of stock
• Cash flow management from year budget on exhibitions and local and international participation.
• Control over service department in respect to booking revenue from warranty, AMC or any other service. Also setting procedures for equipment tracking from and to Bailment location.
• Supervising all the financial and accounting functions of the team and the organization.
• Reporting and developing financial reports viz. monthly management report, quarterly board report and annual board report.
• Preparation and presentation of annual company budgets to the Board of Directors.
• Control and monitor individual project budgets and prepare weekly reports on the project status and updates.
• Prepare forecasted cash flow statements on weekly basis categorized into 100% projects in hand, WIP projects and 95% potential projects. Further classified into sticky receivables, legal cases and claims.
• Responsible for enforcing appropriate financial controls and formulate policies and procedures with implementation of standard form and templates with a definitive reporting style.
• Adequate knowledge in the various stages of designing and implementing the ERP application package called ‘E-globe’ and to impart further training to other employees in the organization.
• Assess the internal control of E-globe and improve its efficiency.
• Build up and maintain a document management system both in hard and soft i.e. cabinet files and system files.
• Validate the cost of ‘Bill of Material - BOM’ in E-globe and set standards to verify the individual raw material cost.
• Monthly reporting of physical stock taking and reconciliations.
• Managing the working capital requirement by close monitoring of banking credit limits utilized/underutilized and generate extra cushion for any contingencies by enhancing the limits on ad-hoc basis.
• Undertake the responsibility of getting project based financing sanctioned from nominated banks and comply with their full set of requirements. The financing mainly includes overdraft, LC/TR, guarantees, discounting bills etc.
• Standardize the supplier and customer LC terms and conditions, PG and APG formats, and warranty statements from suppliers and to clients
•Supervising all Accounts functions.
•Verifying and Approving Invoices, Bills and Vouchers for further processing.
•Verifying and Approving data entered in Solomon (up to October 2009) and Navision (from November 2009) ERP applications.
•Verifying period end Balance Sheet Schedules, Bank and Inter-Company Reconciliation Statements.
•Supervising monthly and yearly closing of accounts.
•Preparation of Final Accounts and MIS Reports.
•Analyzing financial results department wise, product wise and customer wise.
•Presenting and explaining reports to the CEO.
•Liaising with Internal and External Auditors (Deloitte & Touche).
•Liaising and Negotiating with Banks for credit facilities, viz. L/C, T/R, bank guarantees, performance bonds etc.
•Periodically reviewing Credit Policy and revising as required as per customer category.
•Strict Receivables Schedule and follow up with high success rate.
•Contributing as team member in settling technical and financial disputes with clients.
•Custodian of Inventory and Fixed Assets.
•Deciding monthly production capacity, sales target and selling price.
•Negotiating with banks for better and extended facilities.
•Constantly monitoring continuous and projected Cash Flow Statements.
•Maintaining working capital requirements.
•Monitoring Cost and recommending measures to control the same.
•Preparing Master Budget and periodic Continuous Budgets.
•Preparing Variance Analysis Report, Scrutinizing and Recommending corrective actions.
•Introduced Team culture by initiating regular meetings of department heads and discuss various business issues, ensure smooth functioning and ways to achieve the organization goals.
•To undertake training sessions of accounting staff to enhance their skills and talent.
•Liaising and Negotiating with ISO Auditors (LRQA).
•Implementation and Monitoring of ISO policies and procedures.
•Assisting the CFO in Corporate Office budgeting, consolidation of accounts and other tasks as required.
• Project costing and financing.
• Maintaining sufficient working capital.
• Authorizing accounts payables.
• Monthly financial reporting including customized MIS reports.
• Controlling fixed asset and inventory movements.
• Coordinating with Sr. Engineers and Directors to ascertain unbilled work in progress for financial purposes.
• Reporting directly to Chairman.
• External, Internal and Stock Audits.
• Audited financial statements (IFRS).
• Project reports and Feasibility reports.
• Bank correspondence.
• Assistance in corporate finance.
• Setting up accounting procedures & manuals.
• Audit experience of various business sectors including manufacturing, construction & contracting, trading, insurance services, advertising & publishing, hotel industry.
Internal Quality Management System Auditor (ISO 9001) Year 2007
Microsoft Certified Professional (MCP). Year: 2003
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