Financial Controller
UNITED TECHNOLOGIES CORPORATION
Total years of experience :22 years, 2 Months
• Leading a finance team, based at various offices in UAE, including overseeing finance, accounting, treasury functions and preparing various performance reviews and evaluations.
• Leading the management reporting to Senior Management, Regional Offices and Board of Directors, in order to assist with decision making.
• Working with BIS ME&T (Middle East & Turkey region) on various special or ad hoc projects including coordination with various teams based in regional countries. Currently leading regional SAP implementation from finance side and its integration with various other applications.
• Oversee SOX implementations and timely completion of SOX requirements/documentations.
• Working with Business Units for country wide retailers and dealers’ sales incentive finalization and distribution.
• Assistance in preparation of annual corporate plan, monthly forecasts and various variance analysis reports.
• Managing company’s financial reporting under US GAAP through Hyperion, including monthly/annual financial closing and preparation of monthly, quarterly and annual financial statements.
• Review of various accounting reconciliations to determine adequacy of various provisions and estimates e.g. warranty, rebates, bad debts etc.
• Leading annual stock count activity at various locations, as well as examining excess & obsolete inventory and recommending mitigating actions.
• Monitoring implementation of financial policies, company procedures and strong internal controls.
• Responsible for finalizing audits with external auditors and internal auditors.
• Monitoring of treasury function to maintain a healthy cash flow and strong relationships with various banks.
Reported to the Head of Finance, I was primarily responsible for planning/budgeting, forecasting and performance evaluation of the Company i.e evaluation of results and identification of trends through various dash boards and scorecards and reporting the same to management including Regional (BIS ME&T), World Head Quarter (WHQ), Business Units (BU’s) and the Board of Directors.
My key responsibilities includes:
• Work closely with the Management and business units for preparation of monthly forecast financial statements and reporting the same to WHQ through Hyperion;
• Preparation of monthly reporting package and review with ME&T region and other international offices during monthly forecast calls;
• Responsible for various quarterly packs for review with Board of Directors and various international levels;
• Issuance of various scorecards to business units on monthly basis for performance and efficiency measurement;
• Participating in internal controls and SOXA requirements;
• Responsible for issuance of daily performance reports containing BU wise backlog, orders and sales of various locations to keep track of monthly targets and trends;
• Responsible for preparation of annual corporate plan to work closely with the Management and BU’s and uploading of same to Hyperion for consolidation;
• Reporting of monthly financial statements to Joint Venture partner’s office;
• Improve visibility through preparation and issuance of monthly BU wise P&L;
• Work frequently on various ad hoc analysis as per Management requirement.
Reporting to the CFO, I am primarily responsible for management of external and internal financial reporting functions of the Company, i.e. providing periodic financial statements and performance analysis dashboard and scorecards to shareholders, management and the Board of Directors.
Key initiatives and responsibilities:
• Worked closely with the Management Committee and business heads to develop and coordinate planning, budgeting and stewardship activities for the Company;
• Introduced SAP based controls for capex/opex budgets to enable effective system based cost controls;
• Led the implementation of SAP ECC6 modules with the help of IBM consultants;
• Involved in streamlining the structure of management information, quarterly Board of Directors packs and organization level dashboards and earnings flash to enable proper focus on business performance analysis;
• Developed monthly project reporting (during development phase) on cash basis as per NEPRA requirements, and actively participated in tariff determination from NEPRA in close liaison with the project team;
• Led the exercise to develop accounting treatment and valuation of embedded derivatives on foreign borrowings as per IFRS requirements. Also conducted detailed research and evaluation of recognition of regulatory Asset or Liabilities under FAS 71 of US GAAP to resolve the exchange differences issues of IPP industry in Pakistan;
• Awarded with Corporate Excellence Award for the year by Chief Executive;
• Supervision of Provident Fund, Gratuity Fund and Workers Profit Participation Fund accounting as well as Employee Share Option Scheme accounting as per the requirements of SECP rules and IFRS 2
• Coordination with external and internal auditors for statutory and controls audits; and
• Active member of Health, Safety, Environment and Energy Conservation Committee.
•Supervise accounting & control function for maintenance of accurate financial reporting
•Maintaining monthly closing of books and preparation of statutory financial statements including consolidation on quarterly, half yearly and annual basis
•Supervision of monthly electronic reporting to various internal customers and providing consultation in analysis of variation with budgeted amounts
•Participation in preparation of budgets and quarterly stewardships reports
•Maintained monthly financial reporting of one billion USD expansion project and coordination with project team
•Key member of the Data Reconstruction Project Team after loss of records due to destruction of head office in a fire incident
•Active member of Health, Safety, Environment and Energy Conservation Committee
•Attained yellow belt in Six Sigma Initiative and acting as departmental coordinator
•Coordination with external/internal auditors and other consultants to meet specific deadlines
•Maintenance of SAP master records
•Supervise accounting & control function for maintenance of accurate financial reporting
•Maintaining monthly closing of books and preparation of Management Accounts
•Preparing different analysis reports for Group Office Sharja on daily, weekly and monthly basis
•Supervision of payments & payable function of the Company
•Supervision of treasury function and arrangements with Financial Institutions regarding financing facilities
•Coordinating ERP (BaaN) implementation project with Group Consultants, achieved successful Go Live in the month of February 2007
•Compliance with Corporate Laws & Regulations
•Maintaining project database and coordinating with Project Team for smooth operations
•Meeting out monthly, quarterly, half yearly and annual financial reporting requirements
•Compliance & reporting with statutory tax requirements and liaison with Company’s tax lawyer
•Coordination with external auditors and other consultants to meet specific deadlines
Also Served as Manger Internal Audit:
•Established Internal Audit Function to spread out the organization wide control environment
•Developed Charter of Internal Audit, Annual Audit Plan and various work programs to give strategic direction to colleagues
•Achieved 100% implementation of Audit Plan including field visits of country wide branch network
•Coordination with SAP Consultants in organization wide ERP System implementation project
I worked as an Audit Senior and I have conducted annual audits, limited reviews and special purpose assignments of various organizations. The nature of my work and responsibilities include:
•Standard and statutory reporting including limited scope review of financial statements
•Co-ordination with professionals of various fields like Legal, Actuarial and IT experts
•Devising key Internal controls aiming to improve business efficiency
•Foreign reporting to PwC worldwide, working as part of the Global Consolidation team
•Planning audits and developing audit strategies along with identification of potential risk areas and system evaluation and recommending improvements therein
•Ensuring preparation of financial statements complying with International Financial Reporting Standards (IFRS’s) and local laws and regulations.
•Delegation and review of work and resolving issues in liaison with the management
•Preparing tax computations and reviewing their compliance with local laws and regulations
Associate member of Institute of Chartered Accountants of Pakistan
Associate member of PIPFA
Post Graduate Diploma in Cost & Management Accounting
Masters in Business Administration
Beachlors in Commerce
