Financial Consultant
Pakistan Expatriates Cooperative Housing Society (Valancia) Ltd.
Total years of experience :24 years, 8 Months
Accomplishments
• Applied stringent controls over billing and as a result collections have improved by 30%
• Financial budget is prepared and implemented for better management of society funds
• Management reporting framework is devised and implemented
Key Responsibilities
• Be the head of the Finance and Accounts department for the society
• Manage society's financial planning. Maintain financial sustainability and legal compliance while managing risk for various projects
• Review and finalize monetary budgets to ensure society has the resources it needs
• Make sure that comprehensive tax planning is finalized after consulting with a tax advisor
• Responsible for overseeing the accounting and financial operations of the society, including preparation of financial statements and management reports
• Administer the legal and corporate affairs of the society
• Establish and implement policies and procedures for procurement
• Maintain business relationships with commercial banks
• Take care of the society’s monthly billing and collections
• Ensure that regular external audits are carried out
• Support the HR department in identifying and recruiting key finance and accounting personnel
Accomplishments
• Part of a team formulated to complete the merger activity with group company and finalized the merged financial statements
• Successfully managed external audit for merged entities
• Preparation and submission of periodic financial statements for group consolidation
• Successful implementation of recommendations by Internal Auditors for stores, purchases and cash management systems
Key Responsibilities
• Assist CFO in preparing and implementing departmental policies and procedures including budgets
• Prepare and present financial statements, reports and analysis on monthly, quarterly, and annual basis
• Contribute in credit granting and collection process
• Ensure all costs incurred and revenues earned are properly recorded and reconciled
• Coordinate all audit activities, collaborate with external and internal auditors
• Compile information for the Company’s tax returns and timely submission as required by regulators
• Sought opinions from consultants regarding financial and taxation matters
• Assist in talent acquisition, new hiring and staff retention policies implementation for the department
Accomplishments
• Successfully established and managed Credit & Collection Department to cater International and Local Customers
• Planned, strategized and rolled out nationwide WiMAX Credit & Collection Plan for the first time in Pakistan encompassing 30+ franchise and 100+ dealer network
• Formulated and applied Revenue Assurance and Credit Charter and Credit Risk Policies
• Organized and implemented Credit Exposure Monitoring System for Long Distance International Voice Traffic
• Increased the collections percentage - up to 90% (from 75%)
• Managed invoicing of 50 International Carriers and 3700 post-pay local customers
Key Responsibilities
• Being head of the section, plan, organize, directed, control and evaluate the activities of the department
• Ensure credit policies and procedures compliance with established guidelines and applicable legislation
• Confirm that revenue loss should not exceed the allowed threshold limit
• Design, implement and monitor financial assurance controls and metrics
• Administer customer’s (corporate and commercial) credit limits and credit portfolio of the company
• Evaluate and review credit applications and collateral and make recommendations
• Consult with external agencies mainly Dun & Bradstreet (DNB) and Creditsafe for credit management
• Ongoing financial evaluations of existing customer base and adjust credit limits, as well as credit holds
• Administer reminder calls/emails, recovery letters, temporary and permanent service suspension intimations
• Ensure collection management of overdue / delinquent account receivables
• Periodic reconciliation of account receivables
• Develop, identify and participate in the selection of human resources for the function
Accomplishments
• Established and managed the internal audit activity for the company
• Development and execution of Internal Audit Charter, Policies and Risk Based Audit Plans
• Conducted detailed assessment of utilization of 50 Million USD loan as per World Bank guidelines, performed gap analysis and recommended action plan for improvement
• Evaluated control framework in Computerized Accounting Systems and recommended further improvements
Key Responsibilities
• As administrator of the function, plan and organize the internal audit activity
• Responsible for reporting to the Audit Committee in relation to adherence to internal systems and controls
• Develop risk-based audit programs that provides for effective governance of operations
• Develop, implement and review policies, procedures and manuals according to WB requirements
• Ensure the review of monthly, quarterly and annual financial statements
• Supervise information systems / assets audit, suggested improvements and help in implementation of recommendations
Accomplishments
• Developed and executed Internal Audit Charter, Policies and Risk Based Plans
• Unfolded several fraudulent activities perpetrated by employee/business partners and pursued the recovery
• Helped in implementation of effective MIS reporting framework for integration of group branches nationwide and minimized the information flow time by 5 days
• Awarded a letter for “Appreciation of Services” by the Chief Executive Officer
Key Responsibilities
• As head of the activity, responsible for over-all management of internal audit function
• Periodical reviews of internal audit charter
• Prepare and execute of risk-based audit plans
• Presentation of audit/review/investigation reports to Board Audit Committee
• Report and follow-up on identified deficiencies, recommendations and corrective actions to senior management
• Identification of control and process weaknesses as per the risk management plan, and provide recommendations
• Evaluate the adequacy and effectiveness of the company’s control environment
• Supervise information systems / assets audit and helped in implementation of suggested improvements
Associate Forensic Accountant (AFA)
Certified Information Systems Auditor (CISA)
Certified Internal Auditor (CIA)
CA - Foundation
B. COM