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credit control and receivables management & Business operations

Location:
Dubai, Dubai, United Arab Emirates
Posted:
August 15, 2019

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Resume:

CURRICULUM VITAE

PERSONAL DETAILS

Name : Suresh. K (SURESH MENON)

Contact Phone Number : 04-3935860 (Residence)

050-*******

ac9260@r.postjobfree.com

Or ac9260@r.postjobfree.com

SNAPSHOT: Competent senior Credit control manager with comprehensive experience of around 28 years in Credit control & Receivables management, Cash management, accounts payable, financial accounting & Business operations, logistic and inventory management and other Finance and Business management rolls.

PROFESSIONAL ATTRIBUTES:

Result driven

Able to work under pressure

Methodical approach

Willing to go extra mile

Time management

Analytical & problem solving

Enthusiastic and Energetic

Team dynamics

Keen attention to details

Excellent communication

Multitasking capabilities

Business operational activities, (whenever the Head of the units on vacation or business trips) Additional responsibility for Travel business operations, management, and control. (2011 to 2017)

OBJECTIVE: Seeking stable and long-term managerial role in a reputed organization.

LOCATIONS -UAE, QATAR, OMAN, BAHRAIN & KSA

specialized in credit control & receivables management and business operation activities.

CAREER HISTORY – Major group

Galadari Brothers Group – Group Credit Control Manager -10 years

AW Rostamani Group (NISSAN) – Asst. Finance manager (4 years) & Credit Control Manager - 7 years (Total 11 years)

OMZEST Group (Oman) – Chief Accountant – 5 years

WORK EXPERIENCE - 1988 to 2019

Period

Company Name

Designation

Reporting to

2018-Present

Yousef Redha group

General Manager

MD

May 2018-Oct 2018

Avis rent A Car

Finance Manager

GCFO

2017-2018

Masafi water company

Accounting Manager- All GCC countries

CFO

2010-2017

Galadari Bors. Group

Group Credit and Receivables Manager

GCFO

2007-2010

Galadari trucks & Heavy Equipment Co. LLC

Galadari Bors. Group

Group Credit and Receivables Manager

GCFO

1998-2007

Arabian Automobiles

Credit & Receivables Manager

CFO

1996-1998

Arabian Automobiles Co

Divisional Accountant

CFO

1993-1996

Emirates Printing & publishing Co. LLC

Chief Accountant

GM

1988-1993

Omzest Group -sultanate of Oman

Accountant

Financial Controller

YOUSEF REDHA GROUP – October 2018 - present.

General Manager - Reporting to MD

Responsible for meeting the brands profitability and quality goals. To ensure efficient operation across the various business lines while continuing with the growth of the overall strategy.

PRINCIPAL ACCOUNTABILITIES:

Developing and leading the strategic goals for the organization across both local and international operations.

Responsible for driving the company to achieve and surpass sales, profitability, business goals and objectives aligning with the group strategy and targets.

Develop and implement system procedures for internal controls.

Provide polices and framework to achieve operational efficiencies in the business.

Manage and oversee the functioning of all divisions and departments.

To identify process needs improvements and corrective action.

Effective inventory management and develop measures to improve finished goods turnovers to maximize the revenue.

Identify the potentials in the domestic market to improve market share and revenue.

Develop business plan and suggest measures to achieve the target.

To ensure that all statutory and federal compliances are adhered.

Set budget on departmental expenses and monitor on monthly basis.

Follow up on achieving operational and financial targets.

Control costs and optimize available resources and set corrective action plan if needed

Provide measures for better management of finished goods inventory and production to minimize the excise tax impact.

To ensure effective utilization of company resources for furthering the company’s mission and objective.

Improve and maintain internal control and financial assets of the business and oversee the coordination and activities of internal and external and auditors ensuring all compliances issue and are met.

Undertaking research into pricing, competitors and factors affecting performance.

Identify the weakness and pain areas and suggest measures for its elimination & mitigations.

Effective management of human resources to reduce the labour turnover.

AVIS RENT A CAR UAE – May 2018- Oct 2018.

Finance Manager - (May 2018- oct 2018) Reporting to GCFO

PRINCIPAL ACCOUNTABILITIES:

Collating, Preparing and interpreting reports, budgets, accounts, commentaries and financial statements.

Maintain and control the corporate policies and procedures.

Undertake strategic analysis and assisting with strategic planning, producing long term business plan.

Improve and maintain internal control and financial assets of the business and oversee the coordination and activities of internal and external and auditors ensuring all compliances issue and are met.

Undertaking research into pricing, competitors and factors affecting performance.

Controlling income, cash flow and expenditure.

Managing budget

Conducting reviews and evaluations for cost-reduction opportunities.

Developing and managing financial systems/models carrying out business modeling and risk assessments.

Credit control and receivables management.

Finance staff selection and training.

Establish other departmental relationship and conduct process flow meetings.

Establish relationship with financial institutions on corporate level and personnel relationships.

MIS reporting.

Al Ghurair Group of Companies – Feb 2017 –May 2018.

Credit Control and Receivables Accounting Manager (Masafi LLC) -UAE, KSA, OMAN and KUWAIT. (Feb,2017- May 2018) Reporting to CFO

PRINCIPAL ACCOUNTABILITIES:

Manage the Credit and collections activities.

Maintain the corporate credit policy.

Recommend changes in the credit policy to senior management

Create a credit scoring model

Manage customer credit files

Make and monitor the credit granting and updating process.

Accept or reject the credit recommendations with further requirement to reprocess the credit request.

Personally, investigate the largest customers credit applications

Personally, visit the largest customers to establish relations.

Monitor periodic credit and collection review.

Monitor delay payment and short collection issues.

Manage relations with credit insurance providers.

Monthly debtors provision review and control. (action plan to reduce provision for all group companies)

Legal cases status review and further action plan & follow up.

Exceptional empowerment and motivation of the entire credit team.

Create and maintain a department organizational structure sufficient to meet its goals and objectives

Manage and oversee the daily operations of accounting dept. timely month end yearend closing process, billing, receipt accounting and bank reconciliation.

Improve system and procedures and immediate corrective actions

Establish and maintain fiscal files and records to document transactions.

Coordinate and complete annual audit.

Galadari Brothers group - 2007 to Jan 2017

Designation: Group Credit Control Manager (Dec,2010 to Jan 2017) Reporting to GCFO.

GROUP’S BUSINESS ACTIVITIES. (Credit portfolio above AED 2 Bio)

Automobiles (Mazda)

Engineering & Construction

Trucks & Heavy equipment’s (JCB, KOMATSU, BOMAG, ATLAS COPCO &LINKBELT)

General Trading (Food products- MIDDLE EAST-Baskin Robbins)

Hotels -5star (UAE & SRILANKA)

Publishing & Printing (Khaleej Times)

Computer Trading

Travel & Tours

Real Estate

Car Rentals

Machinery Workshops/Spare Parts Trading & engineering and steel structural fabrication businesses

Rubber products (Retreading of Tyres, Rubber products & Conveyor Belts Etc.)

Pressure vessels (construction)

PRINCIPAL ACCOUNTABILITIES:

Manage the Credit and collections activities for group companies

Maintain the corporate credit policy as applied for all group companies.

Recommend changes in the credit policy to senior management

Create a credit scoring model for local entities

Manage customer credit files

Make and monitor the credit granting and updating process

Accept or reject the credit recommendations with further requirement to reprocess the credit request.

To oversee the entire lending process, including the initial application and review, underwriting and the disbursal or denial of the request. Many factors come into play in deciding whether a credit request is approved. (ability to pay, collateral securities, nature of business, total exposure, financial strength and legal status etc.)

Personally, investigate the largest customer credit applications and negotiate for terms & conditions.

Personally, visit the largest customers to establish relationship.

Prepare and monitor periodic credit reviews on monthly and annual basis

Setting and approval of monthly collection forecasts

Monitor the overtrade reports monthly

Monitor deductions being taken by customers

Manage relations with the sales departments

Establish and manage relations with credit reporting agencies and lawyers

Create and maintain a department organizational structure sufficient to meet its goals and objectives

Measure department performance with appropriate metrics

Provide for ongoing training of credit controller staff. (Conduct seminars)

Report to group management on credit issues

Daily interaction with the unit Credit Controllers and finance dept.

Regular interaction with the Financial Controllers and Sales staff

Regular Interaction with Group treasury.

Monthly debtors provision review and control. (action plan to reduce provision for all group companies)

Legal cases status review and further action plan & follow up.

Exceptional empowerment and motivation of the entire credit team

SPECIAL PROJECTS:

Ensuring all aspects of financial & operational controls. (TRAVEL DIVISION- 2012 to 2016)

Working with teams across the business to improve processes and procedures

Performing complex data analysis to aid decision making

Building budgets and forecasting business performance. (TRAVEL DIVISION)

Undertaking projects with a view to developing business strategies

Reporting findings to the board on a regular basis.

Oracle system implementation.(super user)

GROUP CREDIT CONTROL – Achievements (1st Jan,2011 to 31st December 2016)

Prepared and implemented group credit & Receivables policy.

Group provisioning policy. (implemented)

Control on group level credit limit and receivable exposure and risk analysis.

95% of old outstanding collected prior to year 2009.

Credit control - awareness to all staff.(operation & sales )

No additional provision provided for the year 2011, 2012,2013, 2014, 2015and 2016 (for 7 business units)

GTHE- reversal of receivables provision (year 2010) AED.5 MIO. (Target achievement) and (year 2013-3 Mio)

Disputed receivables collected during last 4 years 22 Mio. (Group level)

Group DSO reduced from 123 days to 82 days.

Conducted credit control seminars for all the credit staff. (26 seminars as a leading speaker)

Achieved healthy relations with all major customers.

Galadari Trucks & Heavy Equipment Co LLC (From August 2007 to November 30th, 2010.)

Designation: Credit Control and Receivables Manager -UAE

Heavy equipment’s trading agency for the world top brands (Komatsu, JCB, Bromalin Belt and Atlas Copco) and Spare parts including servicing in United Arab Emirates.

Job responsibility includes: Credit Control and business operation with Major customers.

RECEIVABLES MANAGEMENT & CREDIT CONTROL

MAJOR RESPONSIBILITES:

Responsible for review of applications from Customers for Credit facility.

Recommendations to the management on credit facility request received from the customers.

Setting-up of collection targets for the month. (DSO)

Customer visit and relationship building

Receivables Management

Formulation of detailed Credit Control Action plan for efficient debt collection for the month and corrective action preventive action(CAPA)

Overall Supervision of Bill Collector’s and receivable accountants for efficient collections from debtors.

Authorizations of Credit Appraisal on a day-to-day basis and critical evaluation of each of the appraisal with regard to financial aspects.

Correspondence with Banks for appraising financial strength of customers approaching for credit facility.

Recommendation to the management for initiating legal actions against defaulted customers.

Liaising with the lawyers for initiating legal actions against de-faulted customers.

Preparation of Monthly MIS with regard to Receivables and its presentation to the G.M

Preparation of Exceptional Reports on a periodical basis and its submission to the management. Some of the exception reports are

List of Overdue Receivables

List of Receivables due for more than 120 days.

List of Disputed Receivables.

Special sales assignments -Export customers, Govt. Departments and blue chip companies.

Support and Advise solutions to Marketing and Administration dept. for various day to day issues.

Manage all the critical support functions of customer financial services. This includes managing Accounts Receivable and Debit/Credit policy and processes, reporting and metrics.

Relationship Management

Promote and sustain a constructive, supportive and friendly working relationship with all customers, external and internal, immediate and senior management and other work colleagues

Ensure regular follow up of payments and customer visits

Maintain contact with key account customers Deal with internal and external customer queries promptly and in confidence Implement and monitor satisfactory Service Level Agreement.

Administration

Establish and implement new accounts receivable systems and processes whilst maintaining controls and accuracy at all times

Establish work standards, develop objectives and design/maintain effective workflows and operating procedures

Investigates credit standing of new customers, arranges terms of payment, and follows up on collection of accounts

Responsible for accounts receivable activities involving tracing sources of error, correcting billing records, processing final billings, reconciling errors, accuracy of charges on customer’s bills, investigating, granting, and controlling credit, and managing collection of accounts due

Determines the amount of credit to be extended and recommends amount of working capital necessary to finance accounts receivable and to provide reserves against bad debts

Maintains accounts receivable ledger and adjustment of customer claims

Monitors accounts receivable records, including claims and overdue invoices

Manage and monitor all A/R activities and recommend alternative methods to improve credit collections

Monitor preparation and issuance of statements and other accounts receivable reports according to established procedures

Optimize A/R activity for customer service

Full control of petty cash floats system

Ensure that data relating to the sale of and payment for such products is included in the finance system on an accurate, complete and timely basis

Prepare and review reports as required, e.g. month-end debtor reports, balance sheet reconciliations, income reconciliations, etc. as required by immediate head

Evaluate claims trends, patterns, and work with customers to resolve issues

Interact with the collections team regarding cash receipts issues and discrepancies

Provide career attention, retention and correct assessment of A/R Department staff

Accounts Management

Visits existing and potential customers to investigate credit and collection matters and to foster good credit relationships between customer and company Meetings

Attend division sales meetings

Attend customer meetings

Attend professional and personal development training

ACHIVEMENTS

Credit control and receivable management process manual.

No additional provision for the year 2009.

Invoicing and distribution management system.

Old legal case outside court settlemet-3 customers.

46% customer account reconciliation and Balance confirmation in the year 2009.

100% of major customer account reconciliation and Balance confirmation in the year 2009

ARABIAN AUTOMOBILES CO LLC (from Nov 1998 to July 2007)

Designation: Manager - Credit Control & Receivables management

Working for Arabian Automobiles Company, Flagship Company of the AW Rostamani Group of Companies, authorized distributors of NISSAN Vehicles and Spare parts including servicing in Dubai & Northern Emirates of United Arab Emirates. Job responsibility includes:

RECEIVABLES MANAGEMENT

Responsible for review of applications from Customers for Credit facility.

Recommendations to the management on credit facility request received from the customers.

Setting-up of collection targets for the month. (DSO)

Formulation of detailed Credit Control Action plan for efficient collection for the month

Overall Supervision of Bill Collector’s and facilitators for efficient collections from debtors.

Authorization of Credit Appraisal on a day-to-day basis and critical evaluation of each of the appraisal with regard to financial aspects.

MANAGEMENT REPORTS

Preparation of Monthly MIS with regard to Receivables and its presentation to the G.M

Preparation of Exceptional Reports on a periodical basis and its submission to the management. Some of the exception reports are

List of Overdue Receivables

List of Receivables due for more than 120 days.

List of Disputed Receivables.

Constant review of Sticky Customers (Customers with bad payment history and regular bouncing of cheques).

Preparation of weekly and daily cash flow projections from receivables and submission of the same for daily fund flow management.

SUPPORT ON LEGAL MATTERS AND ACTIONS

Recommendation to the management for initiating legal actions against defaulted customers.

Liaising with the lawyers for initiating legal actions against de-faulted customers.

Preparation of reports for presentation to the lawyers to facilitate legal action.

Periodical report to the management summarizing legal actions initiated details on proceedings pending with the court and the actions taken / recoveries made based on judgments received.

Annual Evaluation of benefits derived from legal proceedings and comparison of the same with the Professional Fees and other incidental expenses incurred for initiation of legal proceedings.

ACHIVEMENTS

Credit control and receivable management process manual.

No additional provision for the year 2005, 2006, 2007.

ERP implementation –credit control and receivables management.

ARABIAN AUTOMOBILES CO LLC from June 1996 to October 1998

Divisional Accountant – Services & Spare parts and Vehicles.

Responsible for Workshop Accounts and Workshop Accounts Payables.

Preparation of Monthly Workshop Profitability and submission to the management.

Assisting the Finance Manager in the preparation of Annual Business Plan.

Monitoring the Warranty Expenses incurred by the company, Scrutiny of Claims made with Nissan, Japan and constant follow-up in realization of claims approved.

Computation of monthly Incentive payments.

Co-ordination with Group Information Technology for generation of periodical reports and critical assessment of reports received and its continuous improvement.

Submission of Exception Reports to the Finance Manager with respect to Workshop Operations such as Pending Job List, Goodwill Discounts allowed without authorization etc.,

Inventory management and monthly & yearly verification.(FMSD Analysis)

Control of Stores Operation and analysis of Job costing and preparation of Variance Analysis reports.

Control & negotiate row material procurement and sublet jobs.

Provide financial reports and interpret financial information to managerial staff while recommending further courses of action.. Advise on investment activities and provide strategies that the company should take

Maintain the financial health of the organization.

Analyze costs, pricing, variable contributions, sales results and the company’s actual performance compared to the business plans.

Develop trends and projections for the firm’s finances.

Conduct reviews and evaluations for cost-reduction opportunities.

Oversee operations of the finance department, set goals and objectives, and design a framework for these to be met.

Liaising with auditors to ensure appropriate monitoring of company finances is maintained.

Correspond with various other departments, discussing company plans and agreeing on future paths to be taken.

Control of internal process and document control.

EMIRATES ADVERTISING, PUBLISHING AND PRINTING LTD CO. Designation: Chief Accountant (From 1993 to 1996)

Job Responsibilities

Preparation of Final Accounts and related reports

Monitoring Banking operations on a day-to-day basis.

Cash flow management.

Control of Stores Operation and analysis of Job costing and preparation of Variance Analysis reports.

OMAN PRINTERS AND STATIONERS LTD CO LLC (From 1988 to 1993) Designation: Accountant

Job Responsibilities

Preparation of Monthly Profitability reports and Balance Sheet (AS 400).

Liaising with EDP Department for Job Costing and Variance Analysis reports.

Control of stores operation and confirm with the user dept. on technical specification of raw materials, outwork and service levels for procurement for the same.

Responsible for Accounts Receivables and Payables.

Monitoring Banking operation on a day to day basis.

EDUCATIONAL QUALIFICATION

B. Com from University of Bangalore, Karnataka, India.

M. Com from Calicut University, Kerala, India.

COMPUTER LITERACY

Good working knowledge in Financial Accounting packages (AS400, Great Plains Dynamics and ORACLE FINANCIALS (ERP)

Worked a part of the complete implementation team. (from software selection to final live system in operation) - CRM, FINANCIAL, HR, CREDIT/RECEIVABLES MANAGEMENT AND SUPPLY CHAIN MANAGEMENT.

Well versed in MS Word, MS Excel, Power point, MS Access and hands on experience in data base query in AS400 and Brio Query

ISO 9002 Certified Internal Auditor

Languages Known – Read / Write : English, Hindi and Malayalam

Speak Only Kannada, Tamil, and Arabic (basic)

REFERENCES - Available on request.



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