Specialist - Finance
Ooredoo Group L.L.C
Total years of experience :23 years, 4 Months
• Provide Taxation advisory for the Group and its subsidiaries across Ooredoo’s footprint.
• Assist in specific projects undertaken by the Group including review of authority matrix, financial operating models for new companies formed by the group, efficient tax planning for cross border transactions, review of tax assessments, agreements etc.
• Review the Group’s Investment and Acquisitions initiatives from a financial and tax perspective that includes,
o Scoping the RFP for the due diligence,
o Review the data room and due diligence reports (financial, tax and legal) submitted by the consultants to ensure that all the potential risks are highlighted to the Executive Investment Committee,
o Review the structuring reports to ensure that the jurisdictions for the investment vehicles are most beneficial to the Group’s interests
o Review the relevant agreements to ensure that the representations, warranties and other terms and conditions are in the Group interests,
• Ensure that the tax returns and other tax compliance requirements are completed within the stipulated timelines for the Group’s companies (special purpose vehicles).
Few notable achievements:
• Project leader in Risk based reviews for various functions for clients, such as:
- Finance function (including Treasury, Cost Control & Management),
- Human Resource and Administration,
- Direct Investment, Third Party Portfolio, Brokerage and Fund Management,
- Financing Services functions (Loans and Credit facilities)
- Operations (including the Branches, Back office, Follow-up & collections, Transaction processing and monitoring functions),
- Compliance Review of Third Party SLA’s and Franchise Agreements.
• Conduct internal audit trainings courses, other workshops and presentations of work products to the Management and Audit Committee
• Independently conducting various projects for clients in the following areas:
- Internal Control Reviews of Investment Companies and Foreign Exchange Company based on Central Bank of Kuwait Regulations,
- CMA compliance reviews and implementation of regulatory requirements for leading investment companies and banks.
- Corporate Governance Assessment for leading Healthcare Institute and entertainment company.
- Developing Policies and Procedures and Delegation of Authority Matrix for various functions such as Finance and Accounting, Procurement, Contracting & Tendering, Administration etc.
- Detailed Risk Assessment for Companies in the Aviation Industry, Private University, Travel Industry, Financial Services, Contracting Companies etc.
• Instrumental in coaching the new and existing recruited staff on the advisory service delivery methodology. Involved in scheduling and updating the staff board planning based on work allocation.
• Leading a team of consultants ensuring full participation, enthusiasm and dedication by team members.
• Portfolio of clients served include NBK, Gulf Bank, GUST, Jazeera Airways, Kuwait Investment Company, Kuwait Financial Center, Al Shamel Travels, Dasman Diabetes Institute, KNET, Bahrain Exchange Company, Kuwait Hotels Company etc.
Profile:
Independently conducting audit engagement and review on various areas of the business like Brand and Merchandising, Finance, Human Resources etc.
Few notable achievements:
•Conducted buying process and business performance reviews for International brands (BHS, Debenhams & Dean & Deluca).
•Conducted Payments and Projects review in Lebanon and Russia.
•Conducted review of the internal controls in sister concerns, Joint Ventures.
•Conducted various audits in the payroll function across ME including recruitment review.
•Conducted Compliance audits for the various policies and procedures prevalent in the Company.
•Conducted other financial audits such as supplier claims, maintenance reviews etc.
•Generated savings for more than KD 150, 000.
•Provided inputs and worked on the Risk Assessment Matrix for the Annual Audit Plan.
•Designed Warehouse audit checklist
Other Responsibilties:
•Reporting the control issues and risks in the various procedures/policies followed by the business and providing recommendations for the improvements in the controls and mitigate the risks in the business.
•Executing the audits within the budget/ deadlines assigned to the audits.
•Review IT support systems, information flow between the various applications with the accuracy of the data, access control for systems.
•Providing Inputs on the devising the Engagement Work Program.
•Preparing the Audit Report for the audit conducted.
•Follow-up review of the audit engagements already carried out for the implementation of the recommendations.
•Conduct peer review / quality checks for the audits done by new auditors & senior auditors to ensure the audit methodology followed & audit reports conform to the department standards and objectives.
•Independently conducting an audit review in to the financial and operational areas of the various Stores operating for Alshaya in Kuwait based on the guidelines and best practices provided in the Company Policy and procedures.
Profile:-
•Accounts - Maintaining complete company Accounts upto Finalization in the internationally acclaimed MIS and accounting package called Sunsystems.
•Preparation including exporting various management reports with Sunsystems and Sunsystems Vision Excel (reporting tool)
• Preparation of Profit and Loss account (including project wise statement of profit and loss) and Balance Sheet weekly, monthly, quarterly, year to date etc.Preparation of Budgeted Profit and Loss (summary and project wise) Account and Balance sheet monthly and yearly
•Preparation of Project Costing Sheet or project based Profit & Loss Statements.
•Budgeted Cash flow preparation, management and reporting variance between the budget and actual cash flows
•Managing Receivables, follow-up, contacting Customers for payments, reporting the ageing and status of the receivables to the management.
Few notable achievements:
•Designed various MIS reports on Sunsystems Vision Excel, e.g. receivables ageing report, trial balance as of date, supplier / customer statement of accounts.
•Prepared Budgets monthly, quarterly and yearly including cash flow budgets.
•Prepared monthly and weekly MIS reports on budget v/s actual variances.
•Worked on the company receivables portfolio and reduced the receivables for more than 90 days.
•Processing all the transactions with minimum turnaround time (1 day).
•Provided all the MIS reports on time and better estimation of cash flow requirements to avoid cash crunches.
Profile:-
•To ensure smooth functioning of day to day Operations within the unit
•To ensure that the unit betters the turn- around times / transit times to improve the product revenue and minimize operational errors
•To ensure the unit meets the Service Level Agreements
•Leading a team of 11 ensuring full participation, enthusiasm and dedication by team members.
•Different MIS are to be sent to the Product Group / Unit Head
•Resolution of Exceptions within the specified time
•To ensure the Asset levels don’t rise.
•To resolve all customer queries within specified target dates
•Consistently ensure that unit receives highest audit ratings (Internal & External )
•Vendor Performance Review / Management
Few notable achievements:
•Reduce the receivables/collections recovery for CitiSpeed product to 7 days.
•Reduce the receivables/collections recovery for CitiCheck product to 30 days.
•Ensured that funds withdrawal happen daily and correctly.
•Identified and highlighted erroneous interest receivable accounting of $ 100, 000.
·M.H. Balasubramanian & Associates (July 1998 to December 2001)
A well established Chartered Accountants firm located in Mumbai providing professional services in many areas like Accounts, Law, Taxation etc.
Designation - Articled Clerk
Gained experience in areas of Accountancy, Audit, Tax and Regulatory matters.
Accountancy
·Gained experience in books writing (upto finalization) for corporate entities, partnerships firms, trusts, society and sole proprietary firms.
Audit
·Conducted statutory and internal and tax audits (as per Income Tax Act) for public and private limited companies, firms, trusts etc.
Taxation and Regulatory matters
·Extensive exposure in Taxation and Company Law matters. Independently handling corporate assesses, partnerships firms, trusts, society and sole proprietary firms etc.
A Chartered Accountant from the Institute of Chartered Accountants of India (‘ICAI’). Secured 55.38 %
Graduate in Commerce Mumbai University(Sathaye College) Secured 67.71 %
