Officer – Finance & Islamic Banking
RAKBANK
Total years of experience :19 years, 2 Months
Finance Officer - Finance Department from Mar 2011 to Mar 2012 and from Feb 2013 to till date
Preparation of daily advances & deposits segment & bank wide
Preparation of daily P&L with projections
Preparation of various monthly reports, ALCO & MIS packs
Monthly variance detailed analysis for income & expenses
Yield analysis for various products
Preparation of Financials notes to Monthly Financials & supporting schedules to MIS
Prepared Financial Adhoc reports as & when required by Manager
Preparation of PDM (Islamic Profit Distribution Model) batch in system and liquidation plus reconciliations
Ensure timely closing of books of accounts, all month end activities are completed
Review of accruals & provisions at month ends and authorizing in system.
Handled Sharia board workings for PDM and quarterly submissions.
Handled Internal Audit & External audit and ensuring compliance with the internal audit requirements & operating procedures
Monitoring GL bank wide & rectification entry whenever required
Monitoring & review of suspense GL, proxy postings bank wide and addressing to concern unit for regularization
Handled 100 plus project accounts & ensuring cost control
Organized & regularized Fixed Asset register across all units and branches of bank.
Monitoring Budget and comparison of actuals for all departments
Recommendation to line Manager to approve purchases based on budget
Daily tracking for Islamic products and preparation of Islamic Product progression report
Officer - Islamic Finance & Accounts, Amal Islamic Banking Division from April 2012 to Feb 2013
One of the core member in Islamic Banking to set up the division & subsidiary of the Bank.
Handled setup of Chart of Accounts & GL creation in multiple systems
Parameterized accounting entries for various products in system
Set up of Balance Sheet, P&L and other reports
Reconciling MIS, Financials & Regulatory report data with GL level.
Handled setting up of Office & Customer accounts scheme codes
Setting up Provisioning & Bucketing entries for various products
Timely reconciliation & review of GL related setup in system and changes whenever required.
Involved in setup of Islamic Treasury products & Streamlined the product notes & Operating process
Set up of Profit Distribution Module (PDM)
Developed multiple reports related to Finance, Operation, Credit & Treasury
Review of Islamic Banking Invoices and forwarding to payments team
Manage reconciliation & ensure sub systems data moving to main system are correct at GL level
Involved in all testing and UAT from Finance perspective
Managing and maintaining project spending, involved in projections & valuations of projects
Handled discussions with vendors and business team for various set up.
Preparation & Monitoring of Business Budget for Islamic Bank
Coordination with Legal consultant in setting up of Division & subsidiary
Prepared Daily P&L and Balance Sheet along with schedules and notes preparation
Supporting Line Manager in finalization & consolidation of Financial statements.
Preparation of Regulatory reports (backup)
Preparation of schedules for PDM & assisting Senior Manager in generation of Profit Distribution reports and liquidation of profits
Preparation of Financial statements for subsidiary companies
Monthly Cost analysis report department & branch wise and comparison with Budget.
Preparation of schedules for Wakala, Murabaha, Investments, Investment properties etc
Preparation of daily financials and forwarding to Group Finance
Assisting in preparation of ALCO & EXCO financials
Preparation of yield analysis for all products
Co-Ordination with audit team members i.e Internal, Statutory & Government
Preparation of monthly fixed asset schedule.
Update Fixed Asset ledger by transferring value of Assets from Fixed Asset not commissioned accounts as and when assets put to use.
Monitoring, Controlling & reviewing bank wide suspense accounts & justification
Reconciliation to ensure that sub systems data moving to Main system are correct
Generation of Adhoc reports as and when required
Ensuring the document accuracy for those invoices received.
To ensure Payments processed & completed within 3 working days from the receipt of invoices.
Validating & approving the entries in system which will be forwarded to Line Manager after ensuring the Legal entity, account combination and other details are correct.
Payment process through Cheque, Direct transfer, Telegraphic Transfer etc.
Handled Fixed Assets module of the Bank & recon with GL.
Reviewing GL & correction entry will be done if required
Opening of GL accounts after proper checking & approval from the manager.
Profit calculation for premature withdrawal of Term Deposits centrally for all branches.
Daily monitoring of Nostro & Vostro bank accounts.
Preparation of P&L, Balance Sheet & schedules to Monthly Financials
Debtors, Creditors & Stock ageing Report and reconciliation
Daily Sales Analysis report and collection report with Product Type wise/Location wise/Channel wise
Bank Reconciliation Statements
Cash flow statements with forecasts & Preparation of Trust Receipt reports with due dates
Processing Invoices payments to Vendors by Cheque, transfer, LC and TR.
Discounting Bills with Bankers & tracking sheet.
Application for new LC & TR and settling of those to Bank.
Ensuring debtors control, Quarterly confirmation of all debtors & creditors and reporting.
Ensuring that Price protection/EPR claims have been sent to the Principal
Visiting showrooms & conducting stock audit
Assisting in preparation of Financial Statements, MIS reports of Accounts with Schedules
Engaged in Budgeting, Forecasting and Financial Analysis
Handled Letter of Credit and Consignment Documents
Working Capital Statement Preparation
Monthly Review of Operating Cost for trucks
Handled shipping documents & negotiation of LC with Banks
Handled bank transactions and preparation of Reconciliation Statement
Invoiced to customers and follow up
Prepared monthly Stock Statement, Debtors and Creditors Statement with ageing.
Certified Islamic Finance Executive (CIFE), Ethica Institute of Islamic Finance, Dubai in Sep 2012
Master of Business Administration (MBA) - Specialized in Finance & Accounts, Scored 71%, Crescent Engineering College, affiliated to Anna University, Chennai, India (2002-2004)
Bachelor of Commerce (B.Com), Scored 61%, Muslim Arts College affiliated to Manonmaniam Sundaranar University, Tirunelveli, India (1999-2002)