Residence Presently Residing in Abu Dhabi, UAE
Willing to Relocate to Dubai /other emirates (if required)
Email baigasif896@yahoo.com
Cell +97150-8704907
Linkedin https://www.linkedin.com/in/asif-baig-abu-dhabi-cv/
A Qualified Senior Finance Professional holding more than 15 years of practical experience in well reputed organizations (Pakistan, UAE, & Bahrain) working in collaboration with Big4 audit firms (PricewaterhouseCoopers Limited (PWC) and Ernst & Young (EY)) and accomplishing all sorts of their audit requirements (including preparation of schedules, adjusted group level consolidated financials as well as unit level financials) successfully. The diversified exposure has transformed my application portfolio with enhanced working and reporting skills comprising a variety of roles such as financial reporting, financial planning & analysis, liquidity & operations management, business risk advisory, corporate governance, treasury management, PP&P, Tax implementation and ERP systems (Oracle, SAP, SAGE & Infor).
Particulars Institute Year Description
Associate Financial Accountant-AFA Institute of Financial Accountants UK 2022 Member – Certificate Holder
Member Institute of Public Accountants - MIPA Institute of Public Accountants Australia 2022 Member – Certificate Holder
Master of Business Administration University of Suffolk UK 2022 MBA in Finance –
Expected Completion -2022
Chartered Accountancy - Article-Ship Sandhu & Co Chartered Accountants 1999 Four years audit training in Pakistan
Chartered Accountancy– Foundation Institute of Chartered Accountant of Pakistan 1997 Certificate Achieved
Bachelor of Commerce University of Karachi 1994 Secured 2nd Division
? Financial Reporting ? Financial Statement Analysis ? Budgeting & Forecasting
? Cash Flow Management ? Accounts Finalization ? General Ledger Accounts Reconciliation
? Bank Reconciliation ? Fixed Assets Accounting ? VAT Returns Compilation
? Accounts Receivable Management ? Accounts Payable Management ? Fund Management
?Policies Implementation ? IFRS Application ? Excel/Power Point Presentations
• Finance lead for successful implementation of IFRS 15 - Revenue Recognition, IFRS 16 (Lease) and IFRS 9 (ECL Model - Provision) in SIBCA Group of companies. Assessment verified by PWC during external Audit.
• Lead the Internal Audit setup and Audit reviews across all departments of SIBCA Group
• Directly involved in implementation of Policy Process and Procedure manual under the direct supervision of CEO/Chairman.
• Finance lead for the implementation of Economic Substance Regulation (ESR) and Ultimate Beneficiary Owner (UBO) – SIBCA
• Designed a system of Fixed assets Verification by assigning Bar Codes to each fixed asset followed by successful implementation of periodical verification activity thereby matching all the physically present Fixed Assets with Fixed Assets Register
• Designed and implemented PDC (Post-dated Cheques) Register in ERP system to enhance the reliance on the system and to automate the process of customer accounts reconciliation
• Designed and implemented automation of monthly Journal Vouchers in ERP system
• Finance leader for VAT implementation – UAE Tax under FTA for all group companies in SIBCA. Also responsible for Tax amendments and group restructuring as required under FTA law.
• Experience in preparing annual budgets and long-term forecasts. Have been associated with various process improvements and manpower optimization processes.
• Lead the audit for the years 2020 and 2021 while coordinating with Sibca team members and PWC audit team
Wherein the efforts to finalize the audit in due time were highly regarded by PWC – Abu Dhabi team.
• Manage the accounting and treasury activities of joint venture companies associated with Sibca Group as a team leader for the year 2021
SIBCA GROUP - UAE & BAHRAIN
DESIGNATION: ASSISTANT FINANCE MANAGER June 2020 - Present
Working as Assistant Finance Manager (Managing 8 Team Members) for SIBCA Electronics Equipment Company LLC (Including all 7 Branches) and other Group Companies. SIBCA has grown to become one of the UAE and Bahrain’s leading Fire Protection, Security, BMS, ELV, IOT, AI and ICT solutions providers. Strategic Partnership with Honeywell, Tyco, BOSCH, Siemens, Doncaster Cables, INOTEC, ASL UK and others.
KEY ROLE AND RESPONSIBILITIES
• Ensuring quality control over financial transactions and reporting, including
• Preparation and analysis of monthly consolidated financial statements (balance sheet, P&L, Cash Flow), along with supporting schedules.
• To manage the accurate & timely recording of all transactions by cost center including over heads allocation, recording of accruals, Journal entries, Provisions, Adjustment of prepayments/advances, Inter Company adjustments, Revenue Receipts & Sales Invoices.
• Coordinate with external auditors during audits and physical inventory count and seeks improvements regarding inventory control operating procedures.
• Reconciliation of Bank accounts, clearing accounts, Inter Co accounts, employee personal accounts, Balance Sheet accounts and review of all General Ledger Accounts transactions.
• Maintain Fixed Assets Register, Record depreciation & adjustment for disposal/addition of fixed assets. Prepare Capital Expenditure (Capex) form for addition of fixed assets and ensure that fixed assets are capitalized in line with reporting standards.
• Perform detailed calculations for Input & Output tax from the Purchase and Sales Tax Registers & compile monthly VAT Returns. Upload Tax Return on Federal Tax Authority (FTA) portal and advise to make payment before the deadline accordingly.
• Responsible for daily finance & accounts operations and ensure timely closing of accounts.
GALADARI BROTHERS EQUIPMENT SOLUTIONS LLC, ABU DHABI, UAE
DESIGNATION: FINANCE LEAD – ABU DHABI BRANCH
June 2009 – June 2020
As a Finance Lead for Abu Dhabi, JCB- Galadari Brothers Equipment Solutions, (Managing 5 team members), I was responsible for complete operational and finance review of the branch operations. The JCB-Galadari Brothers Equipment Solutions is the exclusive dealer of JCB equipment machinery in the UAE, providing Telehandlers, Excavators and Forklifts used in civil engineering & construction as well as after sales service and parts sales of JCB machinery.
KEY ROLE AND RESPONSIBILITIES
• Preparation and analysis of monthly financial statements (balance sheet, P&L, Cash Flow), along with supporting schedules.
• Perform monthly cash flow forecasting based on seasonal trends and forecast conditions
• Prepare Capital expenditure (Capex) & Operational Expenditure (Op-Ex) budgets. Working closely with the management/operations for budget proposals. Variance analysis of actual Cost of Sales & Overheads with budgeted and cash flow forecast results. Comparison of Standard cost with actual cost and report variances with detailed reasoning.
• Analysis of contribution margin with previous period results and advise for improvement in terms of cost controlling, pricing and profitability of Equipment & Spare Parts Sales and Workshop Service Department revenue accounts.
• Accurate & timely recording of all transactions by cost center including over heads allocation against cost of sales, admin, marketing & financial expenses. Record accruals, Journal entries, Provisions, Adjustment of prepayments/advances, LPO postings, SPV’s, Revenue Receipts & Sales Invoices.
• Reconciliation of Bank accounts, clearing accounts, Inter Co accounts, employee personal accounts, Balance Sheet accounts and review of all General Ledger accounts transactions.
• Accounts Receivables management, Reconciliation of Customer’s Accounts, Review and verify that the Service and Sales invoices are in line with customer agreements, deal costing approvals, credit approvals, Receipts posting to customer accounts, highlight non-moving customer accounts, monthly provision for doubtful debts & review of Receivables aging.
• Accounts Payable (Supplier's accounts) management, Reconciliation of Supplier’s Accounts, review and verify the payments against payable transactions, issuance of Purchase Orders, Verification of Supplier’s invoices with contracts/agreements for terms of payments & approved rate for the items, posting of LPO's, verify all LPO's as per Procurement Policy, highlight the discrepancies, provision for un-received bills & monthly Review of all payable balances.
• Forecast cash flow positions, related borrowing needs, and funds available for investment.
• Maintain a system of policies and procedures ensuring adequate internal control over receipts, disbursements and other finance and treasury activities.
Rufi Construction Co LLC, Dubai, UAE
Designation: Finance Manager
Dec-2006 – June 2009
As Finance Manager for Rufi Construction Company, I was reporting to CEO/Board of Directors and leading the team of 5 team members in finance department. My responsibilities involved create financial reports, develop financial plans, ensure compliance with reporting standards and review of all the critical audit observations, and provide solutions in collaboration with operations department. Rufi Construction Company is a leading construction contractor in Dubai involved in property construction, property management, valuation, investing in, buying, selling and renting residential/commercial properties in Dubai.
KEY ROLE AND RESPONSIBILITIES
• Preparing and analyzing monthly, quarterly and annual financial statements as per international accounting standards (IAS) & IFRS.
• Preparing and recording consolidated asset, liability, revenue and expenses entries by compiling and analyzing account information
• Prepare salaries and verify payments against employee personal accounts
• Recommending financial actions by analyzing accounting options.
• Maintaining fixed Asset register on monthly basis and performing the adjusting entries in ledgers as per asset depreciation schedules.
• Preparing feasibility reports for new projects and forecast profit and cash flow conditions
• Perform analysis on budgeted and actual figures and advise any expected overruns.
• Performing Receivable and payable reconciliation on monthly basis and arrange payments as per approved schedule.
• Substantiates financial transactions by auditing documents.
• Guidance to accounting staff by coordinating activities and answering questions.
• Maintaining financial security by following internal controls & implementing the accounting policies & procedures.
• Preparing payments by verifying documentation and requesting disbursements.
• Performing Intercompany Reconciliation and all banks reconciliation regarding finalization of group accounts.
• ERP Implementation experience with operational expertise of Oracle ERP, Oracle E-Business Suite Solutions, SAP, SAGE, TALLY, QUICK BOOKS and INFOR HFM Financials and GL Wand
• Advance Excel & Financial Modeling Training with expertise in advanced excel functions (V lookup, H lookup, Pivot Table, sum ifs conditions, etc.)
PERSONAL AND
- Ability to improvise and find solutions - Goal-oriented and persistent - Team player with a Can-Do attitude
- Proactive - Keen to learn - Attention to details
Nationality Pakistani Will be furnished upon request
Languages English and Urdu / Hindi
Marital Status Married
Gender Male