ZAHID MEHMOOD MALIK

Chief Financial Officer Function:

 Maintaining Company’s financial record and preparing quarterly and annual accounts of the Company as per requirements of International Financial Reporting Standards (IFRS) and Companies Ordinance 1984;
 Ensure that the company complies with all legal and regulatory requirements;
 Managing timely completion of audit;
 Presenting Company’s quarterly, half yearly and annual financial performance to the Audit Committee and Board of Directors;
 Preparing Company’s annual budget and presenting for review of Audit Committee and Board of Directors;
 Monitoring and controls of annual budget on monthly, quarterly and annual basis;
 Managing Company’s working capital, cash flows, cash flow forecast and investments;
 Managing Company’s employees gratuity fund, financial records and investments;
 Managing banking relationship;
 Ensuring Company’s tax compliance including filing of monthly withholding tax and sales tax statements, quarterly advance tax, annual tax return and handling other tax related matters.

Overseeing Company Secretary Function:

 Overseeing the Company Secretary Function to ensure compliance with all the requirements of Companies Ordinance 1984, Listing Regulations of Stock Exchanges and other regulations of Securities and Exchange Commission of Pakistan (SECP);
 Reviewing the agenda of the Audit Committee and Board Meeting, ensuring the circulation of agenda before the meeting as per regulatory requirement;
 Reviewing the minutes of the Audit Committee and Board Meeting before issuance and ensuring all the discussion items during the meeting are appropriately incorporated and minutes are properly circulated to all the members;
 Reviewing all the filing to SECP and Pakistan Stock Exchange including filing of accounts, form A and form 29 etc.

Responsible for reporting to the Group Executive Management (Vice President, CEO, BOD and its sub-committees especially to Audit Committee, Performance and Investment Monitoring Committee, Business Review Analysis Committee).

Major tasks:

SAP Centralized Activity:
Maintaining SAP centralized activities for all SAP live group companies including month end period closing tasks (Opening, closing and freezing of FI, MM, PP, SD etc.), Vendor Confirmation and Foreign exchange rate maintenance;
Close involvement in implementing the SAP consolidation at Group Level (Enterprise Controlling Consolidation System);
Advising modification and development of new reports in Business Intelligence (BI) to be used in business analysis.

Consolidation, Financial Analysis, Monitoring and Controlling:
Monthly consolidated financial statements of the group along with financial performance analysis, cash flow forecast and other reports;
Regular Financial performance monitoring at group and subsidiary level against budget, year-over-year and preceding periods and investigating & scrutinizing the results thereof
Preparing and presenting analytical Consolidated Financial Performance Reports generally on regular basis and specifically on Quarterly basis for President and executive meetings (BOD, Performance and Investment Committee, Business Review, Audit Committee etc.)
Monitoring Financial performance via various reports from SAP, COPA and BI for all subsidiaries across Group
Advising the accounting treatment of new / complex transactions;

Statutory Reporting and Compliance:
Providing the public accountant with all relevant information for the preparation of the quarterly and annual financial statements;
Ensuring quarterly and yearly regulatory compliance requirement of Capital Market Authority and Tadawul (Saudi Stock Exchange) e.g. Press releases, Forms & Financial Statements submission etc.
Being part of the successful team in keeping continued non-penalty compliance record with CMA for AIG since its inception

Budgeting and Forecasting:
Preparing annual budget for the holding company and monitoring variance analysis with actual performance during the entire fiscal year
Scheduling, collecting and analyzing the annual budget of the group companies and preparing annual consolidated budget of the group.
Monitoring the approved consolidated budget with actual performance throughout the year, highlighting the variations and investigating the results with the respective subs CFOs and FMs

Internal Controls, Policies & Procedures:
Coordinated in establishing the DOA (Devolution of Authority Matrix) and Policies and Procedures in the areas of finance & accounting, costing, purchasing, inventory management for the entire group;
Coordinating in planning the internal audit areas with internal auditors and ensuring timely execution across the group companies;
Coordinating with the subsidiaries to resolve the internal auditor observations;
Participating in the Audit Committee Meeting to discuss the internal audit reports of the group companies;
Ensuring compliance with applicable laws and regulations. Advising the management on required actions to comply with the new laws;

Accounting of the Holding Company and Group Treasury Management
Overseeing the function of accounting at AIG, and ensuring accounting is performed in conformance with standards established by KSA authorities;
Undertaking all bank related activities such as deposits and bank loans.
Establishing, maintaining, and evaluating relationships with banking institutes to ensure successful long-term services.
Designing and monitoring the implementation of a cash management system in order to ensure proper utilization of cash and secure AIG financial position.
Monitoring the working capital of the group.
Develop the forecasting models and prepared the forecast for three years (P&L, Balance Sheet and Cash flow).

Audit of well reputed companies to ensure financial recording accuracy and compliance with established accounting standards, procedures, internal controls and other statutory requirements;

Prepare detailed reports on audit findings and make recommendations to improve accounting and management practices and controls;

Job Planning and supervision, including close interaction with client's management, review of work on Audit engagements and on-job Professional development of staff;

Assisting clients in preparing Financial Statements (as per International Accounting Standards (IAS), International Financial Reporting Standard (IFRS), and Group Financial Reporting of Multinational companies with short deadlines;

Use of KPMG's Audit Methodology Software "e audit"; Identifying and managing key dependencies and integration areas.

Besides some special nature assignment, the audits of following companies were conducted:

Financial Sector
•Qatar National Bank
•United Bank Limited

Services Sector
•The Transport Company (Mowasalat)
•Subtech Limited Qatar Operations
•World Trade Centre
•Gulf Tourist, Travel and Cargo Division
•Qatar Star Services LLC
•Marking Services Inc. Qatar Operations
•Air Products Inc. Qatar Operations
•Oasis Pharmacy
•Medical & Instruments Scientific

IT and Technology Sector
•Qatar Datamation Systems
•Siemens Pte Limited Qatar Operations

Investment & Trading Sector
•Qatar General Holding Company S.P.C.
•International Trading & Development Company
•MFH
•Gulf Merchants

Construction & Related Industries
•Bilfinger Berger Company
•Joint Venture Bilfinger Berger Al Hamed
•General Real Estate Company S.P.C.
•Khalid & Hamad Ready-mix Concrete Company

Manufacturing Sector
•Qatar Profile & False Ceiling Factory

Supervising the audit of well reputed companies to ensure financial recording accuracy & compliance with established accounting standards, procedures, internal controls & other statutory requirements; directly reporting to the engagement partner.

The audits of following companies were conducted:

Financial Sector
•First Micro Finance Bank

Telecom & IT
•Alcatel Lucent
•CM Pak Limited

Consumer & Industrial Products
•Nowshera Sheet Glass Industries

Services Sector
•Qatar Charity
•Strengthening Participatory Organization
•Sargodhian Spirit Trust
•National police Foundation

Internal Audit
•United Nations International Staff Recreation Association in Pakistan (UNISRAP)

Contributing to the profitable growth by ensuring clients engagements are executed in an efficient manner;
Developing skills and knowledge of people in the group, coaching team members to ensure effective execution and delivery, contributing constructive on-the-job feedback and training;
Delegation of job responsibilities and supervision of staff (12 team members);
Co-ordination with professionals of various fields like legal, IT experts and decision-making for resolution of critical reportable matters;
Evaluation of review queries and coordination with the clients for their resolution;
Monthly reporting to management and stakeholders;
Supervising maintenance of computerized accounts in the software Sidat Hyder Financials (SHF), Quick Book and GAAP Expert;
Supervising maintenance of fixed assets registers in SHF;
Implementation of Citi Direct (software provided by Citi Bank for making online payments);
Supervising the payroll services to clients including maintaining database of employees, preparing monthly/weekly wages and completing the year end forms for numerous clients and maintenance of Provident Fund;
Managing accounts receivable and accounts payable;
Supervising payments to the vendors, employees and other payments as per approved contracts, payroll and approved invoices;
Prepare monthly cash flow forecast;
Tax Advisory (income tax and sales tax) and tax compliance;
Preparation and monitoring of budgets and Variance Analysis;
Development, implementation and management of internal controls;
Training of accounting systems to staff members; and
Preparation of accounts as per International Financial Reporting Standards (IFRS) and coordinating with auditors.

Clients served:
• Cisco Systems Pakistan Private Limited
• Vision & Literacy International
• BHP Petroleum Pty Limited
• LMKR Limited
• Law Office of Sohaib Qadar
• Paktel Limited

Collections of payments from debtors and making payments to creditors as per agreed terms;
Prepare aging reports for debtors and chasing amounts outstanding beyond agreed terms;
Monthly analysis for accounts receivable and payable;
Issuance of cheques and official receipts;
Preparing cash flow/fund flow statement of the company on daily basis;
Making funds transfers between bank accounts on daily basis to keep the running finance facility at minimum;
Maintaining petty cash; and
Processing employee’s expense claims.

Engaged in the audit of well reputed companies to ensure financial recording accuracy & compliance with established accounting standards, procedures, internal controls & other statutory requirements; directly reporting to the engagement manager / partner.

The audits of following companies were conducted:

Telecom
•Pak Data Com Limited

Petroleum and Mineral Sector
•Orient Petroleum Inc. (Pakistan Branch)
•Pakistan Mineral Development Corporation

Financial Sector
•Allied Bank Limited
•Business and Industrial Insurance Limited

Services Sector
•Business and Industrial Insurance Limited
•National Police Foundation Security Services (Private) Limited
•Al-Shifa Trust Eye Hospitals
•Bestway Foundation