Management Accounting
Resume:
Syed Saleemuddin
P.o.Box ****, Muroor Street, Abu Dhabi – UAE
Cell: +97150- 4169787 / 5584021 Email: ********@*******.***
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Director of Finance / Chief Financial Officer / Financial Controller
Senior Level Executive with nineteen years of extensive hands-on finance, management, business leadership and working with Board of Directors, Banks and Attorneys. [including 8 years – in UAE, 7 years – in Oman] MBA Finance/M.Com with an established record of success in significantly growing enterprise value. Expertise in large Federal Government to Multinational corporate/manufacturing organizations and handled multimillion functional currency projects. I utilize financial and business acumen and the ability to motivate people to deliver sustainable results for both revenue growth and cost containment. Strong in budgets, cash forecast, business valuations, acquisitions and audits. Areas of expertise in:
• Financial & Strategic Planning
• Budget Development & Management
• Accounting & Financial Operations • Business Expansion & Startups
• Crisis Management
• Merger & Acquisition Negotiations
Initiate, develop and direct administrative operations providing quality assurance and quality control. Responsible for managing all personnel activities which include recruiting, reclassifications/promotions and salary management. Demonstrated organizational and negotiation skills and the ability to prioritize multiple and complex tasks, often with conflicting deadlines. Proven ability to work independently as well as perform as a team member. Advance knowledge in Financial software ( Oracle/ERP application )
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Achievements and Specialties
Actively participated in developing and executing the Business Strategies to the executive board in achieving Organization Objectives and Strategic Decisions.
Organized & Supported from a Financial Perspective for International and UAE Level Strategic Conferences and Research.
I have exceeded more than 250% of Budgeted Interest/Forex income by effective Fund Management for the last 3 consecutive years (in millions).
Major Contribution towards establishing Government Contracts with Local & International Corporate.
Turned Out Finance Dept from Overhead to Profit Center
o Created & Implemented a Strategy Plan by reducing 2% of Overhead Expenses which resulted increase by 20% to the Bottom-line
o By hedging Forex, made more than 35% to the budgeted Bottom-line
Played a Vital Role in implementing complete ERP Solution from Financial perspective with the IT Team to create a robust Financial System
Specialties:
• Forecasting, planning, and financial reporting • Analytics Pricing •Asset-backed funding
• Accounting operations and corporate governance • Bank funding and cash management
• Foreign exchange and commodities hedging • Public accounting
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Professional Experience
The Emirates Center for Strategic Studies & Research, - ECSSR Federal Government Institution of United Arab Emirates, Jan 2004 to present
An academic institution established to conduct studies and research on topics relevant to the national security and economic and social well-being of the United Arab Emirates and the Gulf region. It is committed to pursuing its mission with determination in formulating strategies and taking decisions in order to meet the needs and aspirations of the community. In its coverage of various political, economic, social, informational, military and strategic issues pertinent to the United Arab Emirates in particular and the Arab Gulf states, the Arab region and the international community.
Working as Head of Finance
To oversee treasury, accounting, budget and audit activities, financial and accounting system controls and standards to ensure timely financial and statistical reports for management / Board review. Liaise with GHQ, Ministry of Finance & SAB. Involved as Govt. consultant for Finance & Administration in helping other institutions in preparing and developing their bylaws, Policies, Procedures & chart of accounts specially at the initial stage as per the UAE Federal Government Standards.
Key Functions:
• Manage and review monthly, quarterly and annual financial reporting in accordance with regulations
• Lead and develop Corporate Accounting Office
• Advise CEO and Board in all commercial aspects and activities
• Established and document accounting policies and procedures Interface with affiliated Operations companies for conformed financial and operational reporting
• As necessary, assist with audits of the Company's financial statements by Internal Audit and external auditors - SAB. (State Audit Bureau)
• Prepare financial analyses of operation for management guidance.
• Prepare / review annual budgets and interim forecast.
• Providing management oversight of the following functional areas: accounting, payroll, purchasing, revenue cycle, internal audit, information systems and facilities management / engineering
• Supervise the implementation and continuing requirements of the companies' standard and strategies
• Development and continuous improvement of key financial, operational and commercial internal control processes.
• Financing projects, monitoring investments – Reviews projects progress reports to analyze achievements compared to budgeted figures & expenses.
• Assist in the due diligence process for acquisitions and take a leading role in acquisition integration.
• Directing the overall financial plans and accounting practices of our organization.
• Active contribution in strategic business planning
• A Member of the recruitment committee, in evaluating Finance Directors and administration staff for many Government Entities and Ministries.
• Supervise controller and other key accounting and administrative personnel.
Wattayah Motors LLC. Muscat. (Zubair Automotive LLC.) Since Jan 2002 to Jan 2004 Wattayah Motors is one of the group companies of Multinational Zubair Group of Companies. The Group invests in and controls a large number of wholly owned groups and companies, Subsidiaries and associate companies. Each of the above has its own management and independent facilities, and works in close co-operation and co-ordination with the Corporate Office. WM are the dealers for the Luxury and European Cars, with a major Quality testing plant of VW/Audi group.
Worked as a Head of Finance:
Position Summary:
Responsible for the overall integrity of Financial Accounting, Corporate planning and Reporting. Ultimate responsible for all aspects of the accounting process, including budgeting, reporting, cash forecasting and supervision of accounting staff, as it relates to the development and management of commercial projects.
Key Functions:
• Worked together with the Corporate Group COO & CFO, plan and implement financing, legal and business organizational strategies to ensure the Auto Group’s growth is financed and structured in an optimal fashion
• Support the Management Team to drive cultural change throughout as required to execute agreed upon business strategy
• Develop/ evolve strategic plans for the Auto Group’s financial organization
• Drive the Budgeting & Balanced Scorecard processes with the business units. Ensure that these processes are used as key tools and progress measuring barometers to support business performance.
• Timely and meaningful monthly, quarterly, annual financial reporting in the level of detail required by each internal and external user group. Driving to ensure once taken, key decisions/ actions are executed
• Support the decision-making process by providing meaningful ad hoc analysis and by providing financial perspective on all commercial decisions
• Drive effective cash flow management. Focus areas include: capital efficiency management (working capital minimization and control; financial control management; capital employed barometers and strategies (with Corporate Group CFO)
• As required, liaise with the internal and external stakeholders including business heads, government agencies, suppliers, lawyers, insurance companies, consultants & advisors, internal auditors, external auditors
• Identify financial and business risk areas and leading actions to mitigate these risks. Focus areas include but not be limited to:
Driving internal control standards, procedures, practices consistent with business needs as required by the business and by other interested parties (management; government; internal & external auditors)
Motors specific financial and accounting guidelines as required (including Credit, Cost Management, Transfer Cost, CAPEX, Accounting, Risk Management) as well as ensuring their consistency across business units
Ensure adequate insurance coverage and maximizing claim recovery
Ensuring effective compliance with policies and procedures
Ensuring adequate legal review policies of all contracts are in place and functioning
Participating in negotiations and reviews of all key contracts before finalization
Ensuring significant foreign exchange exposures are properly hedged
Work towards a Shared Services concept at Motors Group level
Working with business unit finance teams to support their business; actively mentor and develop the team members.
Liaise with Banks
Apprise, counsel and develop subordinates
Worked as Accounts Manager in Sharikat Hani LLC, Muscat S ince Mar. 1997 to Dec 2001
Key Functions:
• Review monthly financial statements to ensure that transactions are in compliance with financial accounting and sponsorship agreements.
• Assist with preparation of annual budget for the division wise sales, expenses, etc. & analysis of variance based on actual results.
• Coordinate annual financial statement audits and tax returns.
• Supervise and provide on-going training and development of accounting staff.
• Assist with the on-going design, development and documentation of department procedures and reporting.
• Responsible for Administrative Accounting and Reporting
• Division wise monthly profit & loss account and balance sheet
• Prepare annual operating budget
• Prepare monthly financial statements, including budget variance, budget reforecast and pre-development updates, for upper management
• Inventory management
• Project profitability statements and evaluation & analysis of the same on the periodic basis.
• Periodic reporting on sponsorship income.
• Reviewing the monthly stock variation report and reporting to the management after taking the necessary actions.
• Any other information as required by the management from time to time
• Approve invoices and monthly revenue billings and oversee day-to-day administration accounting.
• Cash flow forecasting
• Assist with credit reviews of prospective clients
• Scrutinizing the various ledger and subsidiary records maintained by the accountants.
• Responsible for various audit requirement and preparation of various schedules required for audit purpose.
• In-charge of stores and providing guidance to the subordinate staffs.
• Submission of tender & preparation and evaluation of prices. Tenders prepared for major clients such as Petroleum Development of Oman, Liquid & Natural Gas, Ministry of Defense, Shell, etc.
• Advising the management of various investment proposals such as investments in company’s investment in mutual fund, investment in shares, etc.
• Evaluating several procedures and installation proper accounting system in the stores, which has been approved by ISO 9002 Auditors – Q A International Certification (Middle East) LLC.
• Responsible for debt recovery based on age-wise analysis of receivables.
Worked as a Senior Accounts Officer in George Oakes Ltd. (A unit of Amalgamation group of companies) Chennai, India, since March 1995 to February 1997. The company is involved in distr5ibution of automotive parts through out India.
Position Summary:
Ultimate responsible for all aspects of the accounting process, including reporting, funds forecasting and supervision of accounting staff.
• Independent handling of Accounts and Administration
• Industrial & Corporate Accounting
• Cost Analysis, Variance Analysis, Concept & Classification – Like Material Cost, Overhead cost like Direct (Manufacturing), indirect, fixed & variable, Selling & Distribution cost.
• Periodical Financial Statements – Like Cash Flow, Trial Balance, Profit & Loss Account, Balance Sheet & Financial Analysis, G/L, monthly account reconciliation.
• Other overall functions – Like Banking, Insurance, Budgeting, Credit Control, Reporting to Management, Computer Proficiency in Word & Excel, ability to handle multiple projects and take direction, detail oriented and strong interpersonal & written skills, etc.
• Preparation of policies and procedures and various accounting functions and assisting internal controls and audits.
Worked as an Internal Auditor in Tamim Leather Garments & Exporters, Chennai, India, since May 1993 to April 1995. The company is involved in manufacturing of Leathers, Leather products & Leather Garments.
Worked as an Accountant in S.K Mohiuddin & Company, Chennai, India, since October 1992 to March 1993. The company is involved in manufacturing of Leathers and export to USA, European countries and other countries.
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Major Projects Handled
Change of entire system from controversial to International standard of accounting. Coordinated with the software processional for modifying and introducing new options in the existing financial software, to have a proper control on the accounting transactions. Annual turnover was US$ 114 million. The project was handled independently and completed successfully.
Setting up of stores – (Stores for Electrical, Oil & Gas Equipments, Inflatable packers, Petroleum Dispensers & their spare parts) Coordinated with the software professional for installing new inventory system in the stores. Played a vital role for laying procedures for proper inventory control, training given to the stores personnel for their effective operations. Procedures were assessed by ISO 9002 Auditors and it have been approved – Q A International Certification (Middle East) LLC.
Independently handled Oman Liquefied Natural Gas Project (Water front marine facilities) – Temporary facilities construction job
• Preparation of periodical valuation certificate based on the certified completion report received from site.
• Preparation of cost sheets periodically for every job
• Preparation of budgets for every contract and comparison of actual with budget and inquiring into and analyzing the variances.
• Preparing cash flow statements and reporting to the management.
• Reviewing and finalizing the valuation certificate prepared by the sub-contractors.
Fund Management: Effective fund management resulted to reduction in interest cost by 45% when compare to the previous year.
Introduction of Local Area Network, financial software/hardware in the company and co-coordinating with the hardware professionals for installing the entire system. Acted as an administrator for the entire system for short period until new replacement.
Projects handled as per University requirements during our graduation:
MBA 1994 – 96 : A Comparative Study on Fund flow Statement and Financial Analysis of a Trading Firm.
M.Com 1992-94 : A study on the performance of Leather Footwear Export in India
BA 1989-92 : A Study on the Performance of Taha Leather Products.
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Academic qualification and Specialization
M.B.A – Specialized in Finance Specialized Subjects : Corporate Finance, Foreign Trade, Management
University of Madras 94-1996 Accounting, Port Folio Management & Financial Mgt.
M. Com. Specialized Subjects : Management Accounting & Financial control, Advance
University of Madras 92-1994 Accounting, Applied Costing, Advance Business
Statistics, & Business Policy.
B.A. Industrial Organization. Specialized Subjects : Accounting, Office Management, Mathematics and
University of Madras 89-1992 Statistics, Business Law, Business Finance and
Transaction.
Diploma Course Attended Course : DCA (Diploma in Computer Applications) Duration : Six Months
Institution : Aptech Computer Education. Madras
Awards: Stood First in University of Madras in B.A. Industrial Organization Gold Medalist.
Personal Details
Nationality : Indian
Dated of Birth : 07-05-1970
Passport Number : E 5831102
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