Waris Farooqui - FCMA

Presently working with renowned MNC in construction & infrastructure industry, having contracts all over the Middle East, UK, USA, Australia, Hong Kong, and South Africa.

Being Head of Finance responsible for the overall function of Finance, Accounting & Tax in KSA including:
• Strategic business planning & evaluation with related action plan and short term /long term financial planning for major projects .
• Internal control procedures to ensure financial discipline and assets safe guard.
• Detailed monthly business performance/cost analysis reports for overall company performance identifying the major variations compared to budgets / forecast for each region together with recommendations to UK top management.
• Monthly Financials pack including BS, P&L, and Cash flow statement in accordance with IFRS/SOCPA
• Monthly tax returns for VAT /WHT & proper recording of corporate tax / deferred tax
• Review & finalization of budgets /forecast and corresponding financial planning
• Dealing with banks, Trade Financing & overall cash flow management.
• Co-ordinate with external auditors (Deloitte / E&Y) for finalization of Audited Statements.

SAF Group is one of the fastest growing multi diversified business groups in the Eastern Province of Saudi Arabia dealing in Oil & Gas services, waste water treatment projects, Granite & Aluminium products manufacturing, Warehousing & Logistics.

Major responsibilities include:
•Strategic Group business planning & evaluation with related action plan and short term /long term financial planning for major projects .
•Performance Evaluation Report for group companies with recommendations.
•New business /projects/JV evaluation and alignment recommendations for decision making.
•Top Management financial & performance management reporting including Consolidated Financial Statements in accordance with IFRS /SOCPA/GAAP
•Dealing with banks for fund arrangement including Maturity Gap Analysis, Bridge Financing, and Liquidity Risk Management through monitoring & synchronization of cash flows .
•Liaison with commercial managers for contract negotiation and for effective cost control measures through various cost accounting techniques to ensure profitability.
•Internal control measures through implementation of financial policies & procedures to ensure accurate & timely availability of financial data.
•Finalization of budgets and controlling of project CAPEX and other major revenue expenditures.
•Coordinate with external auditors, zakat department, and all taxation returns /issues.
•Supervision over HR & administrative affairs of the company and other activities as per SLA.

Al Rashed steel is one of the largest steel manufacturing company in KSA, producing different kinds of construction steel rods, wire mesh, galvanized wires & tapes, and stainless steel with annual sales of more than SR. 500 million.

Major responsibilities include:
• Supervision over periodical closing of Accounts & preparation of Financial Statements in accordance with
IFRS / SOCPA
• Analysis of Financial Statements to identify & strategically analyze the key performance indicators and other
activity based information together with detailed cost /variance reports to give recommendations to the Top
Management required for Decision Making.
• Cash flow Management and AR (avg. more than SR. 55 million), AP ( avg. more than SR. 60 million) monitoring
including periodical review of credit policy to take aligning actions if required.
• Preparation of master budget of the company and issuance of various cost reports with detailed reasoning
• Supervision over Stores & Inventory accounting (avg. inventory more than SR. 80 million).
• Coordinate with External Auditors for audit of Accounts and Zakat finalization.
• Direct supervision over HR & Govt. relation department.

Largest State Owned Gas Transmission & Distribution Company in Pakistan having annual sales of more than USD. 790 million.

One of the leading export oriented business group (whole sale & Retail) in Pakistan dealing in manufacturing of textiles & leather

“A” class Govt. contractors for MEGA Construction Project in Pakistan .