Damac Properties – Finance Manager – Dec 12 TO Feb 19
Scope: 2 direct reports ~ AED 10 Bn Revenue ~ Global responsibility
? Manage reporting of 60+ projects with combined escrow balance of AED 10 Bn to government authorities along with IFRS reporting on revenue side
? Responsible for analyzing the reports of Various regions where investments made manage preparation of financial statements, forecasts, budget and other Management reports
? Prepared financial models for London project worth 500 Mn Pounds; Estimated cash flows using IRR, discounting and amortization techniques for a 3-year plan
? Accurately delivered IFRS based Income statements, VAT returns and Cash flow forecast facilitating informed decision
? Reporting on the operational performance of divisional managers in China, Oman, Lebanon, Saudi Arabia and Qatar which resulted in timely mitigation of project risk worth AED 2 Bn
? Implemented SAP FICO module for consolidation of 10+ subsidiaries and generated automatic Income statement and Balance sheet
? Preparing Monthly Profit and loss account
? Led Pricing team to develop initiatives, such as, using benchmark data to identify price based on competitiveness to maximise sales
? Solely handled audits by trustee bank and ensured release of funds without delaying payments
? Analyze current and future trends of 60+ projects with different sets of accurate cash flows to determine profitability
? Sigle handedly floated the prestigious LONDON AYKON project worth £ 50 Mn
? Identification of world class practices within finance and implementing those applicable to support operations
? Analyzed various overhead cost and saved up to AED 5 Mn in expenses
? Spearheading the hotels section of Damac Including Automatic restaurants and Damac Maison.
? Determining the rental/lease rates for each room based on expected returns
? Reporting on Cost and profit along with suggestions to strengthen bottom lines
? Preparing feasibility reports on expected profits and earnings for new projects like beach resorts, Facility management etc
? Preparing quarterly cashflows
? Preparation of VAT returns to FTA
? Monitoring Outstanding payments, Bank Reconciliations, Input and Output VAT
? Implementation of Oracle 11g software
Developed financial planning processes for holding company which included long range and annual plan, budget, performance reporting and variance analysis.
? Collaborated with Managers to develop effective budget strategies and tactics to meet and exceed corporate objectives
? Implementation of SAP Software
? Reporting Variance analysis, P/L forecast and predicting cash flows
? Automation of Financial and MIS reports
? In-charge of Accounting operations of the entire entity including P/L, Balance-sheet, Cash-flow etc
? Initiated the development of accounting policies and financial controls to establish conformity with GAAP, IFRS and created framework for annual audits
? Preparing tax return for the company
? Initiated review of internal costs associated with job execution and customized lease pricing which contributed to securing $ 1.2 Mn in turnover
? Negotiated and reviewed contractual terms and conditions with customers and sub-contractors to mitigate business, construction and financial risk
? Accountable for investment of company assets and establishing cash flow monitoring policies to provide for working capital needs and capital investment requirements
? Delivered clean financial, payroll, insurance and worker compensation audits that eliminated up to $30K in penalties
? Automated the AR, AP, payroll and project bidding systems significantly improving project tracking contractor compliance, credential verification and bid progress
? Represented company at networking events and town/city meetings. Built a referral network of bankers, customers and vendors
KPMG – Audit Senior – Jan 07 TO Aug 12
Scope: 2 direct reports ~ BIG4 audit firm ~ Global responsibility
? I designed and installed management controls system to deter internal fraud in a $ 330 Mn restructuring provision
? Evaluated and recommended changes to policies and procedures to ensure corporate goals were reflected to divisional and departmental objectives
? Exposed errors in client accounting of accrual programs that led to higher than anticipated revenue generation through proprietary software and analysis using excel
? Conducted process interviews and walkthroughs to document relevant processed and internal controls
? Conducted complex US-GAAP audit wherein significant deficiencies were reported to Securities and Exchange Commission (SEC)-US
? Established businesses on behalf of clients under the local law. Designed the programs and controls that follow international auditing standards
? Implemented software for the clients based on their specific business requirements in a short span of time.
? Was awarded “Excellent Performance” rating thrice
? Lead member from KPMG for AS-26 (IGAAP) amendments and FocuS articles.
? Conducted tax audits of various Blue-chip companies and reduced tax liability by more than 2% (Minimum USD 1 Mn and higher)