Deputy Finance Manager
Prometheus Capital Finance Limited
Total years of experience :13 years, 5 Months
Company’s compliance with the DFSA PIB module.
•Assist CFO in preparation of (i) Capital Resources (ii) Risk Capital Requirements; and (iii) liquid Assets;
•Assist CFO in the preparation of budgets and financial projections; anticipating issues, stress events And ensuring that the company maintains adequate capital resources at all times;
•Overseeing finance and accounting functions, ensuring that the accounts are maintained according to IFRS and applicable rules;
•Submission of company’s PIB returns through EPRS promptly;
•Establish and monitor the implementation of the company’s financial policies, procedures, systems and Controls;
•Providing regular capital adequacy reports to the CFO
•Review Rebates calculations prepared by the fund managers to record retrocessions income in Tally every quarter.
•Review fees and record revenue for the same in Tally on monthly basis.
•Reconcile blotter matched principal trades with Settlement banks.
•Calculate introductory fees monthly for the spread generated from the counterparties introduced by business introducers.
•Calculate quarterly the rebates payable to business introducers on the revenue earned from Asset Management clients
Key Responsibilities:
•Spearheading day-to-day accounts operations, handling the full spectrum of financial accounting including account reconciliations, journal entry adjustments, and internal audits whilst ensuring quarterly closing and preparation of quarterly financial statements in compliance with IFRS & IAS.
•Superintending a team of Junior Accountants, reviewed Accounts Payable report prepared as well as the general ledger and sub-ledger updating.
•Conducting Cost analysis against the set budget whilst generating monthly management reports, accompanying schedules, worksheets, and narratives, including Budget vs Actual variance reports, and providing reasons for significant variances along with suggestions/ appropriate control measures for adverse variances.
•Ensuring timely preparation of intra-group reconciliations, monthly accounts, and group consolidated reports for managerial decision-making.
•Employing advanced financial modeling techniques to design financial models for new and existing projects.
•Partnering with Project Managers to conduct a monthly detailed review of all job costs and management of economics of all active projects: analyze revenue recognized vs. invoices raised, direct/time costs incurred compared to budget.
•Supporting payroll management by preparing salaries of 600 employees, processing leave applications, final settlements of employees, and resolving all queries related to compensation and benefits.
•Preparing Letter of credit (L/C) application form and submitting it to the Chief Accountant with the supporting documents.
•Leading communications with banks for project finance requirements and resolving LC discrepancies.
•Review contracts and variations to ensure price, payment terms, contract obligations, etc. are as per the approved tenders.
•Prepare and issue project invoices and monitor accounts receivable and support project managers with collection efforts.
a full spectrum of accounts functions including payables and receivables management for maintaining an effective cash cycle. Prepared monthly detailed cash flow, commentary, and updated forecasts.
•Prepared the payments and reconciliations of suppliers and cash daily to ensure daily cash position.
•Ensured timely recording of Capital Expenditure and monthly depreciation in the fixed asset module.
•Implemented best practices in collections and followed-up customers for outstanding balances due on accounts.
•Ensured timely and accurate reconciliations of customer accounts. Reviewed contract obligations to ensure all contract invoices have been posted and reconciled with customer statements.
•Effectively maintained various balance sheet schedules such as fixed assets, prepayments, accruals, and provisions.
•Facilitated timely completion of an external audit by analyzing and scheduling general ledger accounts and providing information for auditors.
external audits/ special assignments of various clients (including a Real Estate company), ensured compliance with International Standards (IFRS, IAS) and other relevant laws and regulations.
stock counts and audit assignments at various medium and small-size companies to assess and report internal control deficiencies.
•Prepared working papers, testing controls, and the identification of operational weaknesses and control design weaknesses, documented business processes, and worked on ERP application software (ORACLE) to gather data.
