Sidhique Pary Koya

Key Responsibility Areas

Financial Reporting & Controlling

Develop and maintain timely and accurate financial statements and reports that are appropriate for the users and in compliance with IFRS’s.

Develop, implement and ensure compliance with internal financial and accounting policies.

Manage all supporting information for the annual audit and liaise with external auditors as necessary.

Develop and implement policies and procedures to ensure that personnel and financial information is secure and in compliance with group policies.

Review results and implement variance analysis and reporting
Manage the acquisition of capital assets and ensure that assets are properly acquired, recorded, amortized and disposed off as appropriate.

Establish and Review compliance with accounting and financial policies and procedures with regard to Cash/ receivables/ Payables/Non-current Assets.

Responsible for Financial Reporting (IFRS’s), consolidated financial statements, financial planning and analysis, treasury, risk, compliance & banking relations of a large group into real estate, financial investments, manufacturing, trading and services with assets over SAR 11 Billion.
Accomplishments & Projects: Set objectives, targets and KPI’s for the financial performance of the company. Manage the development and implementation of the company’s business plans. Administer and manage the budgetary control function at corporate level.
•Established group financial reporting policies in accordance with IFRS’s / SOCPA & prepared reporting guidelines and templates. Cleaned up the GL’s and rectified IFRS’s non-compliance.
•Streamlined accounting process impacting positively finance close process with reduced reporting man days by 15 %.
•Improved AP process reducing cycle time by 7 days delivering positive impact to both internal & external customers.
•Managed banking relations with bank facilities over SAR 2Billion (SABB/ SAMBA/ INMA & BILAD)
•Established cash forecasts & templates to effectively manage cash position impacting positively on the bottom line with reduced funding costs estimated SAR 2.1 Million.
•Developed company wide and department specific financial management reports including Board reports.
•Managed program for training and developing finance staff.
•Fixed assets management and maintenance.
•Examining and evaluating financial and Information systems, recommending controls to ensure system reliability and data integrity.
•Liaison with the external audit process, ensure the company receives a clean audit report and Zakat certificate in time.
•Managed tax compliance.

Responsible for Financial Reporting (IFRS’s/ SOCPA), consolidated financial statements,
financial planning and analysis.

Accomplishments & Projects:

•Leadership of the financial administration and reporting functions of the Co., and management of the local finance team.
•Supervision and management of company accounts receivable, accounts payable, cash forecasts, payroll, and general ledger.
•Provide useful insights in monthly board report executive summaries through detail write-ups on company's financial health and future forecast to set up the stage for monthly Exec business meetings.
•Development of annual budget and periodic forecasts & review results with plan & take corrective measures.
•Reviewed group company policies & guidelines to ensure every accounting, legal and operational policy is implemented and visible at the lowest transactional level of the business unit.
•Engaged with company's internal & external auditors to comply with company's audit & statutory requirements.
•Key relationship holder with company bankers. Managed bank facility to the tune of SAR 500 Million.

Projects: Finance team leader for SAP system implementation. Successfully help
implement SAP system within the organization.

Overall authority of financial operation of the organization, budget preparation and administration, audit, taxation (VAT & Corporate Tax) accounting, forex and risk management, monthly closing of books of accounts, reporting to HQ, account reconciliations and journal entry adjustments. Evaluate and implement improvements in financial and operational procedures. Undertaken product costing and profitability analysis. Liaise with banks for all types of working capital and long term financing.




Accomplishments / Projects:

•Implemented effective internal control system in the areas of cash &inventory.
•Developed comprehensive procedures to improve AR collection situation from 65 days to 33 days resulting significant reduction in investment in the working capital estimated at US$ 3.5mn
•Resolved and reconciled high volumes of discrepancies existed in the accounting records.by training accounts staff in financial reporting policies and procedures.
•Assisted in the preparation of group financial statements.

Responsible for financial reporting, budgeting, performance evaluation, cash flow management, tax planning, financial control, ad-hoc reporting and corporate and statutory compliance. Liaise with bankers, auditors and statutory authorities. Compile statutory and statistical returns.

Accomplishments:
Provided financial overview and leadership for all major operating considerations and activities including development of business and profit plans.
Controlled line management for all accounting, product costing and financial functions.
Developed profit & loss model for use in analyzing high volume retail accounts.
Implemented an accounting system to monitor and report process waste.

Independently handled audit assignments of both manufacturing and service entities in terms of planning, execution and documentation. Finalized audit strategies, supervised work of subordinates. Finalized audit and other reports.
Accomplishments:
Advised clients on the requirements of Accounting Standards and applicable legislations.
Prepared and reviewed income tax returns for all entity types.
Advised on taxation matters and planning, assisted clients in introducing accounting system and internal controls.