Finance Manager
MOTORS COMPANY
مجموع سنوات الخبرة :18 years, 4 أشهر
& Accounts in Euro Motors (JLR division) company of Al Zayani Investments, one of the leading premier automotive company in Kingdom of Bahrain. The key roles are to support top management in the field of Finance, Accounts, Taxation and Administration matters. This include -(a) decision support for budgeting / forecasting/ MIS and KPI achievement (b) liaison with manufacturer for receivables, payables and designing & rolling campaign and marketing activities (c) internal controls review and improvement. Reporting to CFO & Business Head. Key role & responsibilities are:
•VAT Implementation:
•Co-ordinated with external tax consultant for business impact assessment for VAT implementation. Identified transaction mapping as per the VAT law and regulation and liaison with tax consultant for all the VAT related queries and adopting the compliance requirements.
•Conducted user VAT awareness session and training has been provided to end users.
•Working closely with IT department for relevant system requirements and initiated for customized reports for VAT returns.
•Frequent review and correct the VAT transactional compliances.
• Implementation of CDK Auto line Drive:
Successfully implemented & migrated to CDK Autoline Drive in co-ordination with CDK technical and functional consultants. Actively participated right from discovery session to post go live stages of software implementation.
• Preparation of Financial Statements and handling year end annual audit:
•Ensuring an accurate monthly, quarterly and year end closure of the books of account, preparation of financial statements.
•Oversee annual audits and all related activities.
•Preparing business plan as per the Manufacturer requirements.
•Responsible for managing the entire finance & accounts of the JLR division. Establish and ensure proper implementation of the financial policies and procedures within the Division and control credit policies.
•Responsible for budgeting and forecasting & Report to management on variances from the established budget, and the reasons for those variances.
•Responsible for attending in monthly financial review meetings with shareholders along with Group CFO & Business Head to present the division financials.
•Liaison with Manufacturer on day to day business requirement and reconciliation of manufacture statement of accounts.
•Working capital management with key focus on monitoring & controlling receivables, inventories and payable, and cash flows.
•Capital expenditure proposals, annual business plan and budget preparation.
•Supporting Business Heads in making strategic investment and operational decisions.
•Preparing specific analyses for the Top Management on various profitability initiatives.
•Analyze cost structure, understand variances, and identify cost reduction ideas. Drive cash generation and working capital initiatives.
•Implement, maintain systems of internal control to ensure compliance with Corporate Policies/ procedures.
•Coordinating with banks for facility renewal and arranging for import loans, LCs & LGs.
•Involving in business negotiations with various customers. Plays a major role in all business discussions with the management in terms of business expansion etc.
•Setting up incentives plans and target for sales staff and service advisor and processing of monthly and quarterly incentives.
•COROMANDEL INTERNATIONAL LIMTED- (Leading Fertiliser & Pesticides
Handling Jaguar Land Rover Business finance function
, India’s second largest Phosphatic fertilizer player, is in the business segments of Fertilizers, Specialty Nutrients, Crop Protection and Retail. Coromandel is a part of the INR 300 Billion Murugappa Group Company.
Reporting directly to CFO. Key role & responsibilities are:
•Banking and Fund Management:
•Optimise cost of borrowings through mix of loan instruments.
•Ensuring interest rate is well within the budgeted levels.
•Deployment of surplus funds of the company.
•Establish and maintain relations with bankers
•Host to Host Implementation & Evaluate latest technology adoption.
•Cash flow management:
•Daily Cash Flow management
•Forecast and planning of cash flow - Daily / Weekly / Monthly
•Strict enforcement of Division wise limits and Cash flow
•implementation of CMS system to manage the cash better
•Trade Finance :
•Management of Import documentation include LC's, Buyers Credit, Supplier Credit, Bank Guarantees
•Management of Export Documentation
•Data Submission to ministry and others
•MIS :
•Monthly and Quarterly MIS Reports including reports Group CFO, Board, Audit Committee, Risk Management Committee.
•Reinstatement of forex. receivables, payable, Foreign currency loans, forward covers and Options & Accounting of interest on loans.
•Ensuring treasury related SAP entries are passed in timely manner, BRS, Co-ordination Statutory and Internal Audits.
•Forex Management:
•Executing into forward contracts as per direction of Risk Management committee and CFO
•Executing Option structures as necessary.
•Ensuring that the forex cost is within budgeted level on annual basis.
•Effective Front office document management.
•MOHSIN HAIDER DARWISH LLC-AUTOMOTIVE DIVISION (Jaguar Land Rover, Volvo, MG, Ashok Leyland, Ford Truck
Job Profile:
•Renewal of working capital limits and documentation
•Raising short-term & long term funds for the unit and liaison with bankers and other financial institutions for the facilities.
•Preparing Cash flow and Working Capital Management
•Arranging Letter of Credit, Bank Guarantees and Buyer’s Credit
•Preparing Cash Forecasts & Interest Estimates at regular intervals to ensure that interest cost is within the budgeted limits
•Compliance of loan covenants
•Preparing CMA and arranging project funding from domestic and overseas lenders
•Monitoring forex. rates and participating in appropriate hedging decisions including evaluation of forwards
•Deployment of surplus fund in the mutual funds
•Preparation & co-ordination of financials as per the IGAAP & IFRS
•Preparation of Ratio’s, Financial Follow up report(FFR), Daily MIS
•Accounting of interest on term loans, exchange difference on foreign currency loans
•Coordinating with bankers, internal & external audit team.
(Joint Venture between Zabeel Investment & SML construction, Turkish based company
, Mumbai. The Firm is a member of HLB International, U.K. a world wide organization of Accounting Firms and Business Advisors, which is the 14th Largest Global Accounting Groups
courses: S. S. C.
(Andhra Pradesh)