Farooq Khimani
Assistant Manager Finance
Al Ain - Abudhabi
Summary of Career
1. Oversee financial management of AKHSP operations including cash management, fixed asset management, accounts payable management and finalization of annual statutory audits.
2. Review of General Ledger and ensure all the necessary adjustments identified have been incorporated before the monthly closing. Ensure timely and smooth monthly financial closing of General Ledger.
3. Oversee Payroll processing, Doctors / Consultant sharing, payment to PF members against loan and Full & Final settlements.
4. Ensure proper recording of transactions in line with the budget and seek approval for unbudgeted transactions prior to processing of payments.
5. Liaison with consultants for implementation of new computerized accounting software.
6. Assess operational and financial risks by review of systems & processes and compliance with local laws, legal and grants requirement and develop and implement internal controls.
7. Coordinate with internal audit and granting agency including government agency for releasing funds and other related issues.
8. Authorize reconciliations including bank, sub vs control, donor and AKDN entities.
9. Signing off of cheques for vendors as per the authority matrix after ensuring compliance of policies and procedures.
10. Supervise a team of Accountants, Finance Officers and Senior Finance Officers working in different business entities (operating all over Pakistan).• Responsible to ensure the Pakistan wide management of Cash, inventory and fixed assets count. Rigorously follows the established internal controls and ensures compliance as per policies and procedures and implementation of better processes.
Experience as Tax Consultant
Tax Consultancy
17 December 2018
20 November 2019
Working as Tax Consultant and my area of responsibility includes:-
Obtaining Income Tax and Sales Tax registration.
E-Filling monthly and annual withholding and VAT statements.
Filling of annual income tax returns and wealth statements of individuals and salaried class.
Filling of annual Sales Tax returns of companies.
Experience as Assistant Manager Finance
Aga Khan Health Services Pakistan
01 January 2018
16 December 2018
Working as Assistant Manager Finance and my area of responsibility includes:-
Oversee financial management of AKHSP operations including cash management, fixed asset management, accounts payable management and finalization of annual statutory audits.
Review of General Ledger and ensure all the necessary adjustments identified have been incorporated before the monthly closing. Ensure timely and smooth monthly financial closing of General Ledger.
Oversee Payroll processing, Doctors / Consultant sharing, payment to PF members against loan and Full & Final settlements.
Assess operational and financial risks by review of systems & processes and compliance with local laws, legal and grants requirement and develop and implement internal controls.
Signing off of cheques for vendors as per the authority matrix after ensuring compliance of policies and procedures.
Supervise a team of Accountants, Finance Officers and Senior Finance Officers working in different business entities (operating all over Pakistan).
Responsible to ensure the Pakistan wide management of Cash, inventory and fixed assets count. Rigorously follows the established internal controls and ensures compliance as per policies and procedures and implementation of better processes.
Experience as Assistant Manager Finance
Aga khan university hospital karachi
01 May 2012
31 October 2017
Worked as Assistant Manager Finance-Insurance & Taxation and my area of responsibility includes:-
Keeping abreast of all Taxation Laws and Regulations (particularly Sales Tax/VAT, Income Tax, Provincial Sales Tax/VAT, Import Duties, Federal Excise Duty, Capital Value Tax, Custom Duties, Stamp Duty, Property Tax and other local levies etc.) and informing management of any changes which has implications on the organization.
Ensuring compliance of all tax matters and manages timely fillings of Income Tax, Sales Tax/VAT statements/returns.
Ensure that exemptions available to the organization are materialized through correspondence and compliance of procedural requirements.
Reviewing transactions, agreements, contracts and assessing tax exposure on the same and provide advice to various internal users on applicability of tax levies while receiving or making payments (local and foreign).
Liaison with tax advisors and lawyers in providing and responding to the tax. Managing timely incorporation tax updates in ERP system.
Managing Marine, Group Life, Motor Vehicle, Terrorism, Liability, Health insurance, Cash in transit, Fidelity, Industrial all risk, Machinery Breakdown, Medical Malpractice and Research Insurance policies of the institute.
Administration of medical services provided to Insurance and Corporate customers of the Hospital.
Managing and negotiating service contracts with insurance companies.
Coordinate with insurance companies regarding eligibility, payments, reconciliation and other requirements.
Managing timely submission of claims for losses and ensure reimbursements from insurance companies at correct values.
Experience as Senior Finance Officer-II
Aga khan university hospital karachi
01 December 2010
30 April 2012
Worked as Assistant Manager Finance-Insurance & Taxation and my area of responsibility includes:-
Keeping abreast of all Taxation Laws and Regulations (particularly Sales Tax/VAT, Income Tax, Provincial Sales Tax/VAT, Import Duties, Federal Excise Duty, Capital Value Tax, Custom Duties, Stamp Duty, Property Tax and other local levies etc.) and informing management of any changes which has implications on the organization.
Ensuring compliance of all tax matters and manages timely fillings of Income Tax, Sales Tax/VAT statements/returns.
Ensure that exemptions available to the organization are materialized through correspondence and compliance of procedural requirements.
Reviewing transactions, agreements, contracts and assessing tax exposure on the same and provide advice to various internal users on applicability of tax levies while receiving or making payments (local and foreign).
Liaison with tax advisors and lawyers in providing and responding to the tax. Managing timely incorporation tax updates in ERP system.
Managing Marine, Group Life, Motor Vehicle, Terrorism, Liability, Health insurance, Cash in transit, Fidelity, Industrial all risk, Machinery Breakdown, Medical Malpractice and Research Insurance policies of the institute.
Administration of medical services provided to Insurance and Corporate customers of the Hospital.
Managing and negotiating service contracts with insurance companies.
Coordinate with insurance companies regarding eligibility, payments, reconciliation and other requirements.
Managing timely submission of claims for losses and ensure reimbursements from insurance companies at correct values.
Experience as Senior Budget Analyst
Aga khan university hospital karachi
01 August 2009
30 November 2010
Worked as Senior Budget Analyst and my area of responsibility included:-
Carry out costing, budgeting and monitoring activities of Aga Khan University Hospital which include Collection Points and Hospitals of Pakistan & Afghanistan.
Develop costing models and carry out costing of different upcoming projects.
Conduct feasibility studies / financial evaluation of upcoming projects.
Develop Budget Variance Report and generate financial performance reports to monitor the performance of different projects.
Supervise Accounts Payable function.
Played active role in acquisition of four secondary hospitals of AKHSP.
Experience as Manager Revenue Budgeting
Roshan Telecom
01 August 2008
31 December 2008
Worked as Manager Revenue Budgeting and my area of responsibility included:-
Overall project management for development of revenue budget.
Modeling and integration with finance for the Budget Exercise.
Provide functional support to different departments for pricing and budgeting.
Experience as Senior Finance Officer
Aga khan university hospital karachi
01 April 2007
31 July 2008
Worked as Senior Finance Officer and my area of responsibility included:-
Budgeting & financial reporting as per granting agencies and organizational requirements.
Prepare quarterly / half yearly / yearly financial reports for onward submission to Aga Khan Foundation, Pakistan and other granting agencies.
Assist in preparing financial / grant proposals for upcoming projects.
Supervise the Accounts Payable & Treasury functions and coordinate closings and audits.
Experience as Senior Planning Officer
Aga khan university hospital karachi
01 September 2005
31 March 2007
Worked as Senior Planning Officer and my area of responsibility included:-
Carry out costing, budgeting and monitoring activities of the on going as well as new projects.
Develop costing models and carry out costing of construction projects based on historic construction cost of
different projects executed within the organization.
Conduct feasibility studies / financial evaluation of projects. Maintain and allocate the indirect cost
allocation model.
Develop and update cash flows of projects, variance analysis and generate financial reports.
Analyze project cost information and participate in developing cost cutting strategies.
Experience as Accountant
Aga khan university hospital karachi
01 May 2003
31 August 2005
Worked as Accountant and my area of responsibilities included:-
Supervise the Accounts Payable function and coordinate monthly/annual closing.
Provide support in implementing ERP software (People Soft V8.10).
Supervise monthly schedules prepared by sub-ordinates and ensure timely settlements of advances,
receivable and liabilities.
Supervise the submission of Tax Challan to State Bank of Pakistan on weekly basis.
Review Bank Reconciliation Statements and take timely actions to resolve outstanding items.
Handle the queries related to Withholding, Income & Sales Tax/VAT.
Assist in annual audits.
Experience as Accounts Specialist
Revelation CPF Inc
01 January 2003
30 April 2003
Preparing drafts of different Marketing Plans for the clients.
Organize different events on behalf of our clients.
To assist Media Manager in preparing different proposal and schedules.
To act as a facilitator between Creative Department and our Clients.
Deliver presentations to prospect clients.
Experience as Management Trainee
Sadruddin & Company
01 August 2008
31 December 2002
Handling communication with the foreign clients.
Assist the Export Manager for different tasks related to export.
Supervise the shipping of consignments.
Master 01 October 2002
FinanceBachelor 01 June 2001
BBA(Hons) FinanceBachelor 31 December 2001
BCOMOther 31 December 2008
ICMAP Profession I stage complete