Finance Manager
Qaiwan Group
Total years of experience :16 years, 11 Months
Entrusted responsibility for handling complete books of Corporate & Conglomerate Accounts independently up to finalization; Closure and consolidation.
Devised system for deriving Monthly Trading P&L of several profit centers (Fuel oil, Crude, Gasoil, Distillates, Naphtha, Bunkering, Base oil, Bitumen, Coal, Grease, Lubes, Shipping, Logistics, Terminal and corporate related) and reporting to the higher echelons.
Possess a deep knowledge on Trading, formula pricing, commercial commodity pricing, oil trading sales operations, hedging on various oil products.
Analyzed the Trading P&L and have monthly discussion with the traders on the performance.
Reconciling the CTRM with the ERP entries monthly.
Reconciliation with the Risk/Trading P&L with Accounting P&L.
Accounting of Sovereign and Floating Bonds monthly.
Publish monthly expenditure Analytical report and recommend modes for cost control to achieve business efficacy.
Ensuring the delivery of appropriate accounting transaction services for the companies in accordance with the terms of Group accounting standards.
Handling complete books of accounts with zero error / tolerance, including books of transactions, cash, stock, production, AP/AR, credit reconciliations, credit control, invoicing, general ledger, accruals and other related finance tasks.
Managing all the Accounts Payable and Accounts receivable processes for the region and subsidiaries.
Debtor’s reconciliation, ageing analysis & follow up for collections with an aim to keep receivables under control.
Ensuring timely payments to the vendors as stipulated by the hierarchy.
Regular Intercompany reconciliation
Pivotal for Vouching of Cash and Bank books, Sale and Purchase Register, Debtors Ledger, Creditors Ledger, General Ledger so as to authenticate the figures appearing in the books of accounts of the client.
Training & developing team of Accountants through necessary guidance & support to meet deadlines and achieve efficacy.
Monitor expenses (cost centers) in order to control overspending.
Delegate and supervise various accounting works assigned to staff, Implement appropriate internal control and procedures to protect and preserve the company’s assets and ensure accurate accounting and reporting of the company’s business performance.
Verification of Banks Reconciliation Statements, Fixed Assets, Depreciation schedules and Stock.
Liaison & coordinating with the Insurance firm for the claim related matters.
Posting of Hedging M2M & Swap Settlement Entries.
Handling legal cases in the capacity of account expert with legal advisor of counter party.
Preparation of GL Schedules and maintaining a track of demurrage, insurance and legal claims and keeping a follow up on those claims.
Special projects/ ad-hoc reports as directed by the General Manager Accounts & Finance & CFO.
Regular monitoring of adherence with the internal policies and procedure.
Ensure reconciliation of all sub ledgers, bank, cash and general ledger is performed regularly.
Ensured that the financial figures are intact with the budgeted figures or else inform the management regarding the variances and take corrective measures.
Ensured that accruals of capital & operating expenditure are in accordance with financial guidelines.
Assist General Manager F&A & CFO in working capital management through on time collection & payment.
Participate, supervise and coordinate preparation of external audit materials and external financial reporting.
Handled External Audit Process with E&Y, KPMG, BDO, Crowe Horwath, Mayur Batra and Morrison Menon.
Been the core team member in the implementation of ERP Ms Dynamics Navision and ETRM Aspect.
Core team member in the integration process of Aspect ETRM and MS Dynamics GP 2016.
Handling the VAT Structure and Filing.
Assist Financial Controller in preparing Oil Trading P& L, Balance sheet and other MIS reports.
Accounts Payable - Invoice posting-Reconciliation-timely payments.
Accounts Receivables- Invoicing, Debtors Ageing-Follow-up-Reconciliation-Customer queries-receipt of payments. Manage invoice generation operation and credit control.
Reconciliation of Debtors, Creditors, Bank & Intercompany
Daily verification & preparation of MIS on day-to-day Cash/Bank transactions in order to exhibit daily cash position.
Monitoring of Payments and Receipts (cheques, telegraphic transfer, open A/c TR)
Liaising with banks and Follow up’s through online, telephonic and mail.
Well Versed with Inventory Management and Fixed Asset.
Preparing of depreciation schedule and end of service benefits schedule (EOSB).
Processing and maintaining payroll operations by following policies and procedures on weekly, biweekly and monthly basis.
Liaising with HR department for airfare expenses, annual leave computation, sick leave, bonus, tax & other deductions, insurance, out of cycle payments & final settlement.
Disburse of salaries through bank transfer, cheque and cash.
Preparation of LC (Documentary Credit)-Import & Export, DA & DP, TR processing
Bills discounting (LC, Invoices & Cheques).
Facilitating Internal and External Audits as a result of sound recordkeeping and through effective documentation. Liaison with auditors and implement recommendations.
Other Adhoc duties assigned by Finance Controller.
Specialisation in Finance, Accounting & Management Accounting
Specialisation in Accounting/ Costing & Management Accounting
Specialisation in Taxation