Finance Manager
Winners International Trading Co. & Subsidiaries
Total years of experience :25 years, 5 Months
Winners International Trading Co. & Subsidiaries as
(Business Activities are FMCG Products, Restaurants & Coffee Shops, Hotel Reservations, Tours & Travel, Supplying goods to American Army base, Airport Limousine & Rent Car)
Role:
• Supervising the work functioning of Finance Department and Junior members of staff.
• Preparing and presenting financial reports for meetings and investors.
• Preparing Project Costing, Tender Documents, Costing and Financial & Forecasting reports.
• Working with executives and business heads to prepare budgets and track profit / loss performance by business unit and on consolidated basis.
• Creating solutions to new financial challenges by applying financial/treasury knowledge.
• Preparing financial reports and submissions to relevant government entities.
• Banking money and cheques received and issuing receipts as requested and maintaining and transferring money between bank accounts as required.
• Liaising with other departments and business units on a range of issues.
• Analyzing costs, pricing, variable contributions, sales results and the company’s actual performance compared to the business plans and product strategy pricing.
• Managing daily cash balances and ensuring that cash flows are adequate to allow business units to operate effectively.
• Forecasting cash payments and anticipating challenges arising from limited cash flow.
• Maintain banking and financial institution relationships and negotiating Short & Long terms loans, LC’s & Promissory Notes, Guarantees and merchant services for business units.
• Preparing financial reports, business performances reports as per request by banking and financial institutions for facilities requirement.
• Maintaining Accounting ERP system.
• Liaise with Internal & External auditors to ensure appropriate monitoring of company finances is maintained.
• Correspond with various other departments, discussing company plans and agreeing on future paths to be taken.
• Collecting, interpreting and reviewing financial information and predicting future financial trends.
• Producing financial reports related to budgets, account payables, account receivables, expenses etc.
• Reporting to management and stakeholders, and providing advice how the company and future business decisions might be impacted.
• Recommending and maintain a system of policies and procedures that impose an adequate level of control over Finance Department activities and compliance to the company policy and bylaws.
Accomplishments:
• Played a vital role in implementing Accounting System, Stock & Inventory Control and HR Payroll System that enhanced the organization in achieving appropriate results
• Merit of coordinating with Senior Management & Marketing Department and helped in meeting Business Objectives
• Steered efforts in reviewing Contracts & Sub Agreement with suppliers & clients that resulted in building good business relations with Clients & Suppliers
• Engaged in Sales & budget forecasting that helped the organization to control future transaction and cash flow
Handled implementation of a customized application which resulted in getting automated cost of sales and sales on daily basis.
Atiaf Holding Company
(Business Activities Are Restaurants, Food & Beverages, Catering Services with Kuwait Ministry Project, Information Technologies, General Trading & Contracting)
Role:
• Maintaining documented system of accounting policies & procedures in the organization
• Administering & monitoring all the activities related to finance and credit control
• Supervising functioning of Operations Department
• Liaising with the operational managers to produce monthly management accounts, providing commentary to senior management on significant variances.
• Overseeing the debtor management process to ensure that debts are recovered on time, and minimising bad debts.
• Set up and maintain fixed-asset register and calculating depreciation according to regulations of the company
• Designing adequate organizational structure for achievement of department's goals & objectives
• Generating reports on income, expenditure, cost of sales & any variations from budgets for top management to facilitate decision making
• Looking after cash and controlling flow of receipts & disbursements to meet business and investment needs of the firm
• Planning, Studying, and collecting data to determine costs of business activity such as raw material purchases, inventory and labor.
• Analyzing data collected and recording results.
• Analyzing audits of costs and preparing reports.
• Making estimates of new and proposed product costs.
• Providing management with reports specifying and comparing factors affecting prices and profitability of products or services.
• Maintaining Cost Accounting System.
• Maintaining relations with commercial banks, savings & loan associations and other finance companies
• Coordinating with HR department for monthly payroll of employees
• Understanding company's financial results to management & recommending improvement activities
• Planning, directing and coordinating activities of workers in branches, offices & departments
• Guiding & mentoring Chief Accountants & Accountants for completing task provided on timely basis
• Executing new software ERP solutions for the Financials, Inventory, Fixed Asset Module and Payroll System
• Handling and managing the Purchase, Admin & HR Departments
• Evaluates and provides reasonable assurance that risk management, control, and governance systems are functioning as intended and will enable the organisation's objectives and goals to be met
• Reports risk management issues and internal controls deficiencies identified directly to the audit committee and provides recommendations for improving the organisation's operations, in terms of both efficient and effective performance
• Travelling to different sites to meet relevant staff and obtain documents and information, implanting internal controls
• Provides support to the company's anti-fraud programs
• Accountable for maintenance of Noor Books of Accounts
• Coordinated with statutory auditors and oversaw accounting of receivables & payables including ageing analysis, intercompany, bank, payroll and GL reconciliations
• Forecasted and consolidated total expenses for all departments on monthly basis
• Supervised preparation of:
o Lending & borrowing schedules on monthly basis
o Investment valuation based on market quotes
o JVs on daily, monthly basis for investment valuations and entered the same in ERP System
• Generated & submitted management & monthly CBK reports on fiduciary assets (Off Balance Sheet) to facilitate decision making process
• Conducted analysis of arbitrage swap deals & thereafter prepared income reports for the same
• Shouldered responsibility of payments & reconciliations related to offshore and SPV companies
• Recorded deals executed by front office asset under management and proprietary trading
• Performed market research on daily basis and thereafter recorded corporate actions on equity investments
• Consolidated & reported various portfolio reports, cash positions & performance reports for Local, GCC and International investments
Accomplishments:
• Actively participated in:
o Implementation of Oracle ERP modules like General Ledger, Accounts Payable & Receivable, Fixed Assets & Cash Management which helped the organization in working in systematic way & keeping computerized records
o Implantation of Portfolio & Fund Management System which helped in defining & mapping market setup, security & broker information, dealer setup, portfolio information and security purchase / sell
• Efficiently managed investments & market values which helped the organization in financial reports and Operations Department
MBA Finance