Muhammad Sulman Deputy CFO at National Energy Efficiency Services Company
Saudi ArabiaMUHAMMAD SULMAN
S/o M.Abrar – Ul – Haq
Address
Riyadh
Kingdom of Saudi Arabia
Telephone (
Mobile
+966-569889761
E-mail
Personal
[email protected]
Objective
Seeking a challenging position in a professional and dynamic organization with an aim to contribute towards the objectives of the organization and simultaneously develop professional skills.
PROFILE
Education
Particulars
Institute / Board
Status
Master’s in Business Administration
(MBA)
Al Khair University (Recognized from Ministry of Higher Education Pakistan) www.hec.gov.pk
Passed
Bachelor’s in Commerce
(B. Com)
Al Khair University (Recognized from Ministry of Higher Education Pakistan) www.hec.gov.pk
Passed
Associate Public Accountant
(MIPA)
Institute of Public Accountants Australia
www.publicaccountants.org.au
Passed
Associate Financial Accountant
(AFA)
Institute of Financial Accountants United Kingdom www.ifa.org.uk (IFAC Recognized)
Passed
SOCPA
(Associate MEMBER)
Saudi Organization of Public Accountants
www.socpa.org.sa
Passed
ACA – ICAEW
(Professional Level)
The institute of Chartered Accountant of England & Wales
www.icaew.com (IFAC Recognized)
Passed
Chartered Accountant – Pakistan
(Affiliate)
The Institute of Chartered Accountants of Pakistan (ICAP) www.icap.org.pk (IFAC Recognized)
Passed
F.s.c (HSSE) (YEAR: 2002)
(GCE ‘A’ Level equivalency)
Federal Board of Intermediate & Secondary Education (Recognized from Ministry of Education Pakistan) www.fbise.edu.pk
Passed
Matric (SSE) (YEAR: 2000)
(GCE ‘O’ Level equivalency)
Federal Board of Intermediate & Secondary Education (Recognized from Ministry of Higher Pakistan) www.fbise.edu.pk
Passed
· Performance Driven Qualified Finance Professional with 7 years of rich & qualitative experience; pioneer in the design & delivery of innovative financial assignments; leader in facilitating change through redesign of internal operating and business processes.
· Experienced in implementing financial procedures, maintenance & finalization of accounts as per statutory requirements and liaising with tax authorities for addressal of taxation matters, auditing & MIS
· Understanding in formulating budgets, implementing systems/procedures, conducting ageing analysis, preparing key reports to exercise financial control and enhancing overall efficiency of the organisation
· Adeptness in formulating & preparing scope of audit, audit plans, program and reports with recommendation & suggestion for improvement in internal control system
Accounting and Auditing
Possess diversified knowledge and skills in accounting and auditing by virtue of qualifications and experience in the relevant areas.
Experience
Currently working as Deputy CFO at National Energy Efficiency Services Company Saudi Arabia Since Jan-2019. www.tarshid.com.sa
– Leading the annual budget of the company.
– Handling Audit & Risk Committee requirements and delivering audited financial statements.
– Monthly Management reporting along Budget vs actuals and Forecasted Financial Statements.
– Providing management cash forecast on each monthly basis and increasing the spread to maximise cash investing returns.
– Handling Executive program reflecting key operational milestones with industry benchmarks and actual financial results.
– Updating Dashboard of risk registers on each quarterly basis for Audit & risk committee.
– Supervising implementation of Oracle Fusion (Cloud) & Hyperion planning for finance & Strategic planning.
– Ensuring compliance to International financial reporting standards (IFRS) for all accounting treatments.
Company Name: – The National Shipping Company of Saudi Arabia (BAHRI) June-2016. www.bahri.sa
Period: – June 2016 to Dec 2018
Position: – Manager General Ledger Accounting & Fixed Assets
– Leading and monitoring IFRS convergence of Bahri.
– Allocating the corporate costs on agreed SLA agreements to all the business units.
– Working on SLA’s for Shared services between business units and reviewing all allocations on monthly basis.
– Preparing the strategic plan for developing the GL section across Bahri Corporate on group level to reform and automate activities in GL section.
– Discuss, assist, direct and get developed the goals of the individual team members as their annual objectives
and assign tasks and responsibilities to the team members to achieve those goals.
– Preparation of the annual financial statements of the company and supporting budgeting section.
– Providing support to other accounting sections for budgetary compliance.
– Providing support to rolling out annual budget on Chart of account level in corporate accounting system
(Oracle ERP).
– Coordinate with business units and other departments to assist in the development of accounting policies and guidelines
with respect to IFRS and adopt and apply new accounting policies and IFRS/IAS changes within the area of
corporate accounting in accordance with management directions.
– Review and improve Bahri’s chart of accounts based on reporting requirements and establish policies,
procedures, and guidelines for chart of accounts maintenance and update.
– Approving all additions, modification, deletions, and mapping of accounts.
– Review and improve integration process of accounting sub systems used at its subsidiaries and regional offices
to Bahri corporate accounting system (ERP).
– Review GL reconciliations performed in line with applicable guidelines.
– Investigate material discrepancies and provide support to resolved differences in reconciliations.
– Lead the periodic financial closing activities on Bahri corporate level, its subsidiaries and regional offices.
– Supervise the maintenance of fixed assets registers of Bahri, its subsidiaries and all regional offices. Ensure
accurate recording of initial Vessel Costs, additional dry docking & capitalization of pre-delivery expenses.
Reconcile fixed assets registers with GL & sub ledgers.
– Ensuring the preparation of GL & fixed asset process and activities documentation.
– Supervise the month-end, quarter-end, and year-end financial closing for final trial balance for the financial
period.
Company Name: – Sadara Chemical Company (A JV of Dow Chemical Company and Saudi Aramco)
www.Sadara.com
Period: – June 2013 to June 2016
Position: – Accounting Specialist
– Monitors compliance with IFRS/IAS, Company policies and procedures.
– Converting balances of fixed assets depreciation, Leases & intangible costs as per US GAAP standards.
– Supporting in the preparation of Financial statements as per US GAAP to DOW Chemicals US.
– Review, investigates, and corrects errors and inconsistencies in financial entries/SAP document.
– Preparing financial reports for overall monthly financial reporting, and analysis for Corporate and/or manufacturing functions
– Ensure accurate recording of expenses by analyzing spending to identify trends and ensuring management understand and take proper actions to have spending under control
– Establishes cost flows, structure, collection procedures and business rules to ensure consistent accounting records.
– Reviewing and validating inventory valuation on monthly basis
– Providing detailed analysis for manufacturing variances on monthly basis Providing proper variance analysis for expenditures on monthly basis
– Providing support and validation for completion of annual budget Providing Financial Support to analyze alternatives for contracts and provides inputs to determine best economic options
– Control and monitoring of contracts with Sponsors to ensure correct charges and recording
– Coordinating forecasting process with management and validate data provided by them
– Ensuring proper recording of accruals to assure spending is current.
– Review analyze and input in SAP accruals from Cost engineers for all cost centers on monthly basis.
– Ensuring proper execution of internal Controls for expense recording.
– Providing support for capital vs. expense determination.
– Compiles and analyzes financial information from general ledger accounts and cost centers wise reports.
– Responsible in assisting preparation financial statements and cost center reports.
– Preparing Project Cost estimation and total commitments for all EPC vendors.
– Closely maintains and monitors the Project fixed assets system for each project Asset.
– Coordinate monthly closing process and reconciliation of general ledger accounts.
– Develop and implement various accounting procedures.
– Work with both internal and external auditors during financial and operational audit.
Company Name: – Al Etimad Modern Business Solutions Co. Ltd (A member company of VFS Global LLC).
www.aletimad.com
Period: – June 2012 to June 2013
Position: – Chief Accountant
Major Duties include: –
Financial Planning & Control:
– Performing the key role of validating business plans & commercial strategies for maximizing profitability & revenue generation in line with corporate goals
– Creating budgets & conducting variance analysis to determine difference between projected & actual results and implementing corrective actions for the same
Accounting Functions:
– Preparing & maintaining statutory books of accounts and reconciliation of financial statements in compliance with the norms; ensuring smooth operations of banking process
– Presenting a true and fair view of the financial position of the company by way of timely preparation of annual reports ensuring analysing the expenditure on a monthly basis to control expenses
– Maintaining MIS & reports, evaluating them for facilitating decision-making process
Fund Management / Costing / Budgeting:
– Liaising with banks for optimum utilisation of available cash credit limit; taking care of financial systems and management procedures by means of proper budgeting & ensuring that controls are adequate
– Administering treasury functions including optimum utilization of surplus funds; controlling management of funds & securities ensuring pay-in/ pay-out of funds in time without fail
Receivable / Payable Management:
– Overseeing advance controls for advance payments & following up with purchaser, cost centre wise consumption & analysis with average consumption
– Following up of bills receivables after invoicing to debtors, conducting ageing analysis with an aim to keep receivables under control.
Payroll Management:
– Handling payroll processing function involving computation of salary, preparation of salary certificates and assessment; processing joining/separation orders, increments, promotion orders, etc.
– Managing payroll function for employees involving processing of leave travel assistance, medical claims, joining expenses with reference to policies, final settlements and controlling management & employee payrolls
Company Name: – Strengthening Participatory Organization. (www.spopk.org)
Period: – Feb 2011 to May 2012
Position: – Finance Specialist
Duties include: –
– Preparing budget Variance Report as per desire of Management for effective monitoring and and observes the performance of different components company.
– Assisting the Head of Departments to finalize the budgets before proposal submissions.
– Preparing the Financial Reports and different ratio analysis reports for management.
– Facilitating internal audit & external Audits from Big 4 firms.
– Review & finalization of Fixed Assets Register on periodic Basis.
– Preparation of financial statements for External Auditors.
– Facilitate the auditors of different donors of projects during their grant audit.
– Preparing Cash forecast as per the department work plans
– Keeping track of transparency of financial matters.
– Supervise the team to Prepare the Reconciliation of General Ledger related to Cash, Bank, and Direct & Indirect Cost.
– Preparing Cash flow forecast to manage the cash activities of office.
– Preparing variance reports of Program Sector in order to measure the efficiency of program activities through its variance analysis.
– Preparing letters about financial affairs for top management.
– Managing various analytical reports relate to multiple programs’ financial aspects before organizing the external audit.
– Supporting & monitoring the logistics department inventory management process as well as procurement & transport.
– Using aging technique for monitoring the advances & payables.
– Any other duties in line with the overall tasks as assigned by the Program Manager & Finance Controller.
Company Name: – Ernst & Young www.ey.com
Period: – From May 2007 to Jan 2011
Position: – AUDITOR – audit, Assurance and Advisory Business Services (AABS)
Duties include: – I have lead large teams through the planning, execution and conclusion stages of statutory audits and other varied special nature engagements. My responsibilities include:
– Engagement planning and supervision.
– Managing client relationship.
– Coordinating with professionals of various fields like legal, actuarial and IT experts and decision-making for resolution of critical reportable matters.
– Assisting and preparing Financial Statements in accordance with the financial reporting framework as applicable in local country which includes compliance with International Financial Reporting Standards, local corporate laws and directives of regulatory authorities.
– Evaluating internal control systems, identifying control weaknesses and making appropriate recommendations to the management
On-job training and professional development of staff.
The experience at the AABS Group of the firm has enabled me to develop an understanding of regulatory environments of diversified industries, key business processes and the accounting and internal control systems of several organizations. Following are the most significant clients and related engagements that have contributed to my professional growth:
Construction Sector
– Mangla View Resorts (Private) Limited
(A subsidiary of Maxcorp snd bnd Malaysia)
– National Logistic Cell (NLC)
Oil and Gas
– Mesa Petroleum (Private) Limited
Banking & Financial Sector
– The First Micro Finance Bank Limited
– Brac Bank Afghanistan (a commercial bank)
– Atlas Bank Limited ( a commercial bank)
– Muslim Commercial Bank
– Khushali bank Limited
Manufacturing
– Nowshera Sheet Glass Industries (Private) Limited.
– National Logistic cell – Tyre Retreating Plant
Development Sector
– National Rural Support Programme (NRSP) currently operating as bank in Pakistan.
– Strengthening Participatory Organisation.
– Oxfam Pakistan (a subsidiary of Oxfam Great Britain).
– Brac Pakistan (a subsidiary of Brac Bangladesh).
– Partner Aid International.
– The Asia Foundation Afghanistan.
Telecommunication
– Pakistan Telecommunication Company Limited (A listed company operating as a subsidiary of Etisalat UAE).
– Telenor Pakistan (Private) Limited
– Wi tribe Pakistan (Private) Limited
– Alcatel Lucent Pakistan (Private) Limited
– REDtone telecommunication (Private) Limited
Power Sector
– Energy Conservation fund (Private) Limited
– Uch power Limited (a special assignment)
– Green Electric (Private) Limited (A subsidiary of Creative Energy Resources Cayman Island).
IT Proficiency
§ Completed 90-hour Course of Computer Practical Training (CCPT) recommended by the Institute of Chartered Accountants of Pakistan
§ Proficient in MS Office applications specially MS Excel, MS Power point & MS Word.
§ On hand, practical experience of using the EY Audit Documentation software, CaseWare, AWS & Gamx. knowledge of using accounting software’s such as SAP ERP R12, SAGE ERP, Sidat Hyder Financials, Quick books and Peach tree.
§ Proficient in using other EY software’s like EY random, EY Micro start and JE testing tools.
Personal
§ Marital status
§ Date of birth
§ Nationality
§ Languages
§ Hobbies
Married
26 June 1985
Pakistani
English, Urdu and Arabic (Limited)
Playing cricket, Long tennis hanging out with friends
References
Can be furnished upon request.