MUHAMMAD SHAKEEL, ACA
Dubai, UAE | Contact No. +971 52 411 2827 | E-mail: shakeel_ywm@hotmail.com
LinkedIn: linkedin.com/in/muhammad-shakeel-aca/
FINANCE MANAGER |FINANCIAL CONTROLLER | CHIEF ACCOUNTANT | INTERNAL AUDIT MANAGER
PROFESSIONAL SUMMARY
A Qualified Finance & Audit Professional with 12+ Years’ Experience who helps businesses manage their finance and streamline process and controls to maximize stakeholders’ value.
? Experienced in conducting Internal Audits & External Audits and managing Accounts & Finance function.
? Repeated success in preparing and analysis of financial statements, management reports, budgets and forecasts.
? Skilled in establishing strategic audit plans to improve effectiveness of risk management and governance processes.
? Known for leading cross-functional teams, resolving critical issues and revamping process efficiency.
KEY COMPETENCIES
? Internal Audit & External Audit, Risk Assessment & Mitigation, Corporate Governance & Internal Controls, Due Diligence
? Financial Statements & Financial Reporting, IFRS & IAS, Management Accounts & MIS Reporting, Financial Forecasting
? Financial Management & Strategy, Financial Planning & Analysis (FP&A), Budgeting & Variance Analysis, Business Plans
? Dealing with Banks & Regulators, Treasury, Tax Planning & Filing, Regulatory Compliance, Enterprise Risk Management
? Relationship Management & Collaboration, Leadership & Team Development, Effective Communication & Negotiation
KEY ACHIEVEMENTS
? Established, applied and upgraded Standard Operating Procedures (SOPs) across 8 group entities for continuous process improvement. Devised corporate governance structure of holding to oversee business as per best practices.
? Developed Authority Matrix to regulate transactions which resulted in financial control of AED 100 million business.
? Transformed a Group of companies from a Family Owned Business to a Corporate Business after acquisition by a Private Equity Firm by changing legal ownership of 8 group companies in 4 countries.
? Attained sales tax / VAT refund of PKR 40 million from the Tax Authority (FBR) by submitting required documents with the regulator, attending meetings with the officials and continuously following up.
? Provided strategic leadership, training and guidance to a team of 20 members which assisted in achieving set targets.
? Negotiated credit facilities of PKR 100 million with banks to secure financing for running projects and working capital.
? Coordinated with Quality Control Review (QCR) process which helped Firm receive Quality Control Review (QCR) rating from regulator to conduct external audit of listed clients resulting in retaining of over 12 clients.
PROFESSIONAL EXPERIENCE
Finance Manager
BBM Trading – Multan, Pakistan (Jun 2020 to Nov 2021)
A leading retail business engaged in sale of mobile phone accessories in Pakistan having 3 famous brands.
? Managed books of accounts and finance of the organization including working capital management.
? Produced financial statements and management reports including business analysis.
Key Contributions:
? Initiated annual budgeting process and developed strategy for business development resulting in annual savings of over 40%.
Senior Internal Auditor
Al Sharid Auditing and Management Consultancy LLC – Dubai, UAE (Aug 2019 to Jan 2020)
A leading accounting firm based in UAE having 2 offices and over 50 employees engaged in providing consulting services.
? Managed Internal Audit Function of a major client operating in F&B / FMCG Industry with Dairy, Poultry and Feed Divisions as per Annual Audit Plan. Conducted Risk Assessment to develop Audit Plans. Developed audit programs for audit engagements.
? Drafted and submitted Internal Audit Reports to Audit Committee. Conducted Follow up Reviews to ensure that Management has implemented action plans as agreed. Maintained Risk Register and developed Risk & Control Matrix (RCM).
Key Contributions:
? Reviewed Policies and Procedures Manuals of the 3 Group companies to update as per best practices.
Internal Auditor / Head of Internal Audit
YYT Food Corporation LLC – Dubai, UAE (Mar 2016 to Dec 2018)
A leading company in the F&B Sector of UAE engaged in operating Quick Service Restaurants (QSR) in UAE, Bahrain, Qatar and KSA with famous brands including Subway, Vanellis, PadThai and Teriyaki having over 150 restaurants and 1,000 employees.
? Developed and implemented risk based strategic audit plans after conducting risk assessment of key business areas under audit plan. Conducted Store Audits / Operational Audits, Compliance Audits and Internal Audit of Support Functions.
? Collaborated with external auditors to complete annual sales audit of retail outlets and financial audit of company.
? Inspected stores for physical inventory count, cash count and spot check. Initiated fraud investigations and special audit assignments as instructed by the Audit Committee. Monitored legal compliance with regulatory authorities and legal affairs.
? Presented audit reports to Board, Audit Committee and CEO recommending improvement in processes and controls. Ensured effectiveness of risk management, internal control and governance processes.
Key Contributions:
? Ensured safety of assets and minimized cash theft risks by employing effective control systems saving AED 2 million annually.
? Identified cost-reduction opportunities including food cost and wastage resulting in annual savings of over AED 5 million.
? Enabled company registration with Federal Tax Authority (FTA) as Tax Group; administered filing of 1st VAT Return.
Chief Accountant / Assistant Finance Manager
Ghazi Fabrics International Limited – Lahore, Pakistan (Oct 2013 to Nov 2015)
A leading composite textile unit engaged in production of cotton yarn, PC yarn and grey fabric having 3 manufacturing plants, 2 divisions, over 3,000 employees and turnover of over PKR 5 billion. Company is listed on Pakistan Stock Exchange (PSX).
? Steered various financial operations including preparation of periodic financial statements and financial reporting, GL, AP, AR, costing, revenue, accounts reconciliation, payroll, treasury, investments, FX, insurance, income tax & sales tax returns, fixed assets register, physical stock count, cash flow management and month-end & year-end closing process.
? Ensured compliance with accounting policies and procedures. Directed preparation of monthly management accounts.
? Negotiated export documents and raw material pledge with banks. Assisted CFO in arranging finance facilities.
? Presented business review reports and financial reports including operating and financial performance reviews.
? Conducted financial analysis, variance analysis and annual budgeting exercise including operating and capital budgets.
? Engaged in Strategic Financial Planning & Analysis, Business Performance Management, Risk Management and Management Reporting (MIS) of the Monthly Results including quarterly reporting packs for Board of Directors.
Key Contributions:
? Produced and published quarterly, half yearly and annual audited financial statements on stock exchange.
Finance Manager / Chief Financial Officer
Riaz-ud-Din Engineering (Pvt) Ltd. – Lahore, Pakistan (Jan 2012 to Sep 2013)
A leading steel structure manufacturing and construction Company in Pakistan engaged in production and supply of pre-engineered steel frame building systems having 1 plant, over 300 employees and annual turnover of over PKR 500 million.
? Prepared monthly and annual accounts. Managed and reduced working capital cycle of 10 projects by 20 days.
? Managed cash flows, accounts receivable and accounts payable of the business to maintain liquidity.
? Analysed market trends to prepare bids. Developed business plans, cash forecasts and annual budget.
? Conducted financial forecasting and feasibility studies of projects. Supervised tax compliance & tax returns and billing.
? Negotiated credit facilities with banks including corporate finance and trade finance such as availing bank guarantees, opening of LCs for import and renewal of facilities. Managed relationships with different stakeholders.
? Devised financial strategies to maintain financial position of the company and minimize financial risk.
Key Contributions:
? Implemented ERP system to replace manual system of accounting reducing process costs and reporting cycle by 30 days.
? Partnered with business to measure financial and operating performance by developing KPIs of 5 departments.
Audit Assistant / Senior Auditor
Horwath Hussain Chaudhury & Co., Member Firm of Crowe International – Lahore, Pakistan (Nov 2007 to Oct 2011)
A member firm of Crowe Global having more than 200 independent accounting firms in more than 130 countries.
? Planned, executed and reported Internal Audits & External Audits. Audited separate and consolidated financial statements to ensure their compliance with the local laws, regulations and International Financial Reporting Standards (IFRS).
? Led meetings with clients to resolve issues. Created financial and internal controls manuals to increase operational efficiency.
Key Contributions:
? Provided best corporate services by upgrading corporate law department of firm adding over 50 clients in a single year.
EDUCATION
Master of Commerce - M.Com - Higher Education Commission of Pakistan (HEC)
Chartered Accountant – ACA (2018) - The Institute of Chartered Accountants of Pakistan (ICAP)
PROFESSIONAL DEVELOPMENT & IT KNOWLEDGE
Presentation Skills Training Course (PSTC) | Course of Computer Practical Training (CCPT)
Microsoft Office Suite | ERP Systems: Oracle Financials & JD Edwards, SAP, SAGE, Tally & QuickBooks
Strategic CFO Program 2020 - MECA CFO Academy (USA)
PERSONAL INFORMATION
VISA STATUS: Visit Visa Valid till September 10, 2022 | AVAILABILITY: Immediately | NATIONALITY: Pakistan