Sumit Gupta

One of the largest developers of region, Aldar has assets over AED 35 Billion under its umbrella and recurring revenue of over AED 6 Billion, is listed on ADX.
Prior to merger with Sorouh, Reporting to Director of Estates-Aldar Properties, post- merger reporting to Sr. Manager Financial Control, is responsible for financial control and consolidation. The responsibilities include:

• Preparation of monthly financial reports of performance across all segment and departments.
• Consolidation of all ledgers for purpose of financial reporting using ERP.
• Quarterly, annual preparation of final accounts for audit purposes, adhering to applicable IFRS.
• Financial control, capturing financial information & recording same in books in line with IFRS.
• Ensuring preparation of financial reporting in compliance with Group policies and procedures.
• Preparing annual budgets, cost allocation and budgetary controls.
• Revenue recognition on under development projects based on IFRS 15.
• Supporting in adaption & implementation of new IFRS to align with mandatory adoption. IFRS 16 on leases.
• Preparing cash flow and cash management
• Member of lead team for implementation of VAT (value added tax) and fully versed with accounting, controls thereof.
• Negotiations with contractors for various services.
• Helping in drafting various policies and procedures for internal controls.
• Dealing with internal and external auditors and ensuring the audit is done within set deadlines.
Attainments
Successful system modification to cater to VAT and capturing information from source. Successful completion of merging financial books with uniform chart of accounts post-merger.

Emirates NBD PJSC is a listed Company on Dubai bourse. It’s largest GCC bank with maximum number of branches in UAE. Reporting to Head of Finance, was responsible for all regulatory and statutory Audits, Systems integration, Internal Controls, MIS and vetting various business cases. The responsibilities included:

• Reporting the actual financial for month with variance to budget.
• Analysis of various business cases to have their feasibility.
• Budget preparation for retail chain of business.
• Regulatory requirements, government auditor submission.
• Supporting whole retail distribution in transactions across all 110 branches.
• Maintaining all sub system and their integration with Oracle General ledger.
• Preparation of budget for whole retail segment including branch, channels network.
• Leading team meetings at various levels to represent retail segment.
• Segmental profitability reporting to management.

Reporting to Senior Finance Director and is responsible for Audits (internal and external), Systems & Procedures, Internal Controls, MIS, Banking, and facilities management. The responsibilities include:

• Monthly financial statement preparation and variance to budget analysis there off.
• Preparation of business plan, annual budgets.
• Cash flow management.
• Contracts negotiations with prospective suppliers, receivables management.
• Ensuring correct recording, reporting and reconciliation of tickets sale at “At the Top” Burj Khalifa.
• Ensuring compliance to all operational and financial policies and procedures of company.
• Drafting various policies and evaluation of contracts with third party.
• External and internal Audit.
• System improvement- Oracle Financials ( GL, AR, AP and FA) and integration with other systems like Maximo.

Reporting to Chief Financial Officer and responsible for Company’s financial accounts, Finance, Audits, Systems & Procedures, Internal Controls, MIS, Banking, and Working Capital Management. The responsibility includes:

• Project financing for existing and potential projects in pipeline.
• Special purpose ventures with potential investors from abroad.
• Periodic Monthly financial achievement preparation and variance analysis there off.
• Preparation of business plan.
• Preparation of annual consolidated financial statements.
• Audit of books of accounts from any one big Audit firms, like KPMG, Deloitte and Ernst And Young.
• Development of Oracles financials to cater to in house requirements.
• Enforcing accounting Policies of the company.
• Monitoring receivables from customers and liasioning with legal department for forfeiture.
• Working capital optimization and cash flow planning,
• Negotiation with banks to open and operate the Escrow accounts to cater to the legal requirements.
• Getting the audit prescribed by Dubai’s official agency (RERA).

Reporting to Financial Controller and is responsible for Company’s Accounts, Finance, Administration, HR functions, Audits, Systems & Procedures, Internal Controls, MIS, Banking, and Working Capital Management.


The responsibility included:

• Project financing for new building of vessel’s and negotiation with Ship buildings Yard like Hyundai, Daewoo, Shina.
• Structuring joint-venture agreements and periodic review of their financial numbers.
• Monthly financial reporting and variance analysis on segmental income and expenditure for the management.
 Responsible for preparation of Annual budget and 5 year long term corporate plan.
 Preparation of annual and interim financial statements for the company, joint ventures and consolidation thereof.
 Getting the books of accounts audited (quarterly and annual) from one of the big five Audit firms, like KPMG, Deloitte and Ernst And Young.
 Maintenance of Accounting and payroll system as a functional consultant.
 Helped in building Accounting and HR Policies & Procedures of the company.
 Implemented a forecasting and strategic planning process to control costs and maximize profits.
• Provide financial expertise in the review and analysis of financial information for resources allocation, management of cash flow, Working capital, CAPEX control.
• Coordinating with chartering department to monitor trade receivables.
 Working capital optimization and cash flow planning,
 Interacting with the operating management of Exxon Mobil and other joint venture companies in respect of their budgets, financial statements and board meetings.
 Monthly checking of payroll of office consisting of over 350 employees.
 Reviewing the work of 7 assistants who reports to this post.

Mostly dealing with bankers and finalization of accounts.