Month-end and Year-end Procedures

  1. Successfully automated 60% of the manual journal entries and implemented electronic filing of journal entries. This has resulted in time-saving during the closing process by 3 days and improved the environment due to the paperless archiving.

  2. I lead the month-end and year-end closing activities to ensure timeliness and effective process of GL closing.

  3. Reviewed and posted all journal entries prepared by team members and ensured no errors in the journal entries.

  4. Decided on provisions and accruals and ensured adequate provisions are made.

  5. Reviewed trial balance prior to closing and ensured no corrections arose post-closing.

 

             

 

Co-ordination with Auditors

  1. I am the primary contact point for :                        - External auditors – To ensure timely completion of the half-yearly review and year audit in accordance with standards;                                                     - Internal, government, quality and tax auditors for internal control, compliance, quality and tax audits.

  2. Ensured that the auditors’ are provided with the required information in a timely manner to ensure smooth completion of the audit procedures.

  3. Ensured that the auditors’ queries are addressed and all issues solved in a timely manner.

  4. Took a proactive approach to ensure that no audit issues arise by communicating with management about any issues, implementing controls and ensuring correct accounting treatment prior to the audit exercises. This has resulted in no audit issues in the previous 4 years and saved time for the audit completion.

 

                                                                                       

Value Added Tax (VAT) compliance and reporting

  1. I managed the implementation of 5 subsidiaries of DP World UAE Region to ensure compliance with the new regulation that came in to force on 1 January 2018.

  2. I am the focal point for all VAT related matters to help all the subsidiaries and internal departments by answering all VAT related queries and providing advisory on complex VAT issues.

  3. I lead the preparation and review of VAT returns of 5 subsidiaries of DP World UAE Region and ensure timely submission of VAT returns and timely payments of VAT payables.

  4. Implemented VAT compliance internal process and automated VAT return approval procedure.

 

          

Reconciliations

 

Reviewed the bank reconciliations and intercompany reconciliations prepared by the team members and ensured that all the overdue reconciling items are cleared by ensuring effective communications among all parties.

 

                                                                    System Implementation and other IT matters

  1. Currently leading the implementation of Oracle Fusion in all companies of DP World UAE Region.

  2. Managed the successful implementation of Oracle Fusion of one of the newly formed subsidiaries of DP World UAE Region.

  3. Assisted in the implementation of the iSupplier system.

  4. Led the implementation of Direct deposit payment services system.

  5. Assisted in the implementation of Hyperion budgeting and Financial analytics module.

  6. I led various GL system improvements and automation.

  7. I managed the creation of new GL codes, cost centres, intercompany codes, Capex codes and the creation of code combination.

  8. I manage the mapping of GL codes and tariff codes to various VAT clusters.

 

               

            Co-ordination with other internal departments, subsidiaries and business units

  1. I organize monthly meetings with subsidiaries and business units for identifying and resolving financial issues.

  2. I hold monthly meetings with other sections of the Finance department such as Accounts Payable, Accounts Receivable, Fixed assets, Treasury to ensure proper recording of transactions, rectification of errors, if any and providing support and resolving issues.

           

 

              

Other Responsibilities and Achievements

  1. Implemented cost control solution by successfully changing and negotiating on the way lease expense has been calculated and paid. This has resulted in a decrease in
    expenses by $2 million annually.

  2. Created and managed shared services departments cost allocation mechanisms to ensure pooled resources are shared fairly among all the business units.

  3. I am responsible for authorizing supplier payments of up to $ 2 million as per the authority matrix.

 

            

Financial Reporting

  1. Led the preparation and presentation of monthly, quarterly & annually consolidated financial statements in accordance with IFRS to comply with Board of Directors and regulatory requirements.

  2. Led the implementation of various new International Financial Reporting Standards (IFRS 9, IFRS 15 and IFRS 16) by carrying out detailed research and preparing memos for the management to advise on the accounting treatment of various business transactions.

  3. Prepared and updated all schedules and supporting information for review by management and auditors.

  4. Successfully de-consolidated disposed-off subsidiaries and consolidated newly formed subsidiaries.

 

                                                                         

 

Financial Analysis and Board of Directors Reporting 

I lead the preparation of financial analysis and presentation to the Board of Directors covering:

  • Year over year variances and explanation for the variances.

  •  Actual Vs Budget variances and explanation for the variances.

  •  Industry growth projection and company’s actual growth and explanation for any abnormal variances.

  •  Details include analysis of revenue, volumes, expenses, Receivables ageing analysis, cash flow, fixed assets, VAT etc.

  •   Explanation of external, internal factors and other developments affecting the company’s performance.

 

           

 

Budgeting and Forecasting

Assisted in the annual budget and quarterly forecast to ensure the budgets are in line with the Company objectives.

 

                                                                  Key Performance Indicators (KPIs)

  1. Led the setting of the annual KPIs of the Finance department and monitored the progress of actual vs target.

  2. Presented the KPIs results to the management together with the explanation of the KPI results.

  3. Monitored the finance-related KPIs of all the other departments and communicated with department heads for corrective action.

 

                

 

Finance Policy and Procedure

  1. I authored the financial policy and procedure manual and ensured that the manual is communicated to all the employees.

  2. I was branded as the “policy guru” and I was the main point contact for all policy and procedure related queries.

  3. Implemented continuous internal control and process improvements in financial reporting, Accounts Payable, accounts receivable, treasury, fixed assets and budgeting processes.

           

                

Leading and Supporting the team

  1. I schedule bi-weekly one on one meetings with my team to coach and mentor them, providing encouragement in what they excel in, and guidance in areas they should work on. Discussions are focused on the progress of annual objectives, performance updates, career development and awareness and alignment to our goals and theirs.

  2. Proud to say that all my team members have either received “Outstanding performance awards” or “the best trainee awards” under my leadership.