Iftekhar Ahmed Qureshi
Chartered Accountant
Jeddah
Summary of Career
1. Result-oriented CPA (US), FCA, MA Economics and B.Com. with 13 years of experience implementing the systems, policies & financial procedures projected towards organizational goals
2. Diligent and result-oriented professional, presenting a vast experience as Head of Finance, and Audit and Assurance (Big4) management roles
3. Spearheaded strategic level functions such as corporate accounting, preparation of business strategy, corporate budgeting, financial analysis & financial restructuring for the group
4. Successfully formulated new policies & procedures; due diligence, cost reduction initiatives through proper control, process & efficiency improvements, productivity & resource management
5. Exhibited leadership in setting up operations right from scratch, overcoming complex business challenges and making high-stakes decisions using experience-backed judgment & irreproachable integrity
6. Created innovative ways of adding value to the overall efforts of the organization in driving organizational objectives
7. Team-based management style with the zeal to drive visions into reality
8. Worked as VAT Project Leader and IFRS leader in the organization for ensuring successful implementation of VAT and IFRS in the group companies
9. Deft in handling finance and accounts by means of profitable associations with organizations, with positive contributions towards organizational objectives via application of best skills, ethical standards in professional services, and growth of professional skills.
10. Seeking Leadership opportunities in Senior Managerial roles across globally reputed organizations
Nominated as the VAT Project Leader in the organization for ensuring successful implementation of VAT in the group companies
Experience as Group Head - Accounting & Treasury
Rolaco Trading & Contracting
21 October 2015
Managing the entire accounting, finance and treasury function of Rolaco Group; leading a team of 15 members including Financial Controllers and Accounting Managers
Coordinate across the group companies and direct preparation of the annual budget and KPIs, Financial Forecasts and Expected ratios.
Preparation of consolidated and standalone monthly and annual management accounts
Engaged in Risk management and daily cash management; reviewing daily bank reconciliations as well as managing debt portfolio with several banks
Preparing and presenting reports for the quarterly Board of Directors and Audit Committee meetings; collaborating with External Auditors, Tax (Zakat) Consultants, Legal Advisors; maintaining relationships with financial institutions
Leading the Finance function for the implementation of various ERP Software (DMS and Astea); leading IFRS conversion and VAT implementation across the Group; and performing Accounting and Tax (Zakat) due diligence assignments for the Group to assist the CFO and COO
Developing & sustaining healthy business relations with key clients, thereby creating opportunities for repeat business; ensuring compliance with code of ethics in all interactions with the external parties
Targeting business drivers for free cash flow through working capital management and monitoring short-term and long-term borrowing
Formulating financial strategies by forecasting capital and identifying financial resources for the organization
Managing the entire aspect of budgeting, cost accounting, variance analysis, ensuring accurate closing process
Highlights:
Successfully built the accounting and finance function of the organization and got recognised for the same
Fixed all the accounting related issues within the company
Recognised for resolving the ERP related issues as well as updating finance manual
Led the VAT Implementation and IFRS conversion across the group
Experience as Assistant Manager - Audit
Deloitte & Touche
22 October 2011
30 September 2015
Reported to the Audit Partners and mentored a team of 30 staff
Managed audits within the Assurance Department, administered various assignments related to audit and assurance
Engaged in managing a large portfolio of approximately 70 clients across diverse sectors including Oil & Gas, Petrochemicals, Manufacturing, Construction, Power Generation, Trading, Investment Bank, Drilling, Industrial & Commercial Products and Service Sector; contributed in consolidation of subsidiaries along with preparation of consolidated financials
Played a pivotal role in Deloitte Learning Program and conducted trainings at the Middle East level; acted as a core member of the IFRS Transition Team in Deloitte
Contributed in SOCPA to IFRS GAP Analysis assignments on behalf of a listed company during the year ended 31/12/2013 and 31/12/2014
Led an assignment for agreed upon procedures to assist the Joint Ownership and Production Agreements between 2 SABIC affiliates
Few clients worked with:
Olayan Group (involves consolidation of over 50 subsidiaries)
ATCO Group (involves consolidation of over 15 subsidiaries)
Tradco Group (involves consolidation of over 15 subsidiaries)
Pan Gulf Group (involves consolidation of over 18 subsidiaries)
Al-Zamil Group (involves consolidation of over 30 subsidiaries)
Arab Petroleum Investment Corporation
Eastern Petrochemical Company – SABIC affiliate
Saudi Methacrylates Company– SABIC affiliate
Baker Hughes Saudi Arabia – All Saudi entities
Experience as Group Finance Manager
Bahria Foundation
03 May 2010
14 October 2011
Reported directly to the Managing Director and Director Finance and mentored a team of 11 staff
Managed the entire group’s finance function and managed following specific tasks Accounting, reporting & planning, Treasury, Income Tax and Payroll
Prepared division-wise reports while consolidating monthly, half-yearly, and annual management reports for review by Director Finance
Collaborated with the External Auditors to assist finalization of annual statutory financial statements
Verified IFRS policies and the related amendments thereby ensuring consistent and adequate compliance
Reviewed and authorized all payments, local and foreign, and ensured compliance to all withholding tax requirements and foreign exchange regulations
Assessed the company’s liquidity position, surplus funds, and cash flow forecasts
Ensured adequacy of insurance and risk coverage for the company assets at their replacement values under Global Insurance Program of the Group and other local policies
Piloted the on-time and accurate implementation of amendments for the relevant laws
Appraised and authorized the monthly payroll activities
Experience as Assistant Manager - Audit
KPMG
01 November 2008
30 April 2010
Reported to the Audit Partners and mentored a team of 40 staff
Managed a diversified portfolio of 22 clients across the financial, manufacturing, and service sectors
Engaged in the certification of Net Assets Value (NAV) of the large investment funds as per the trust deeds, offering documents, and corporate laws
Performed investigations for various brokerage houses pertaining to the stock market crash, assignments initiated by Securities and Exchange Commission of Pakistan
Experience as Articleship
KPMG
01 November 2004
31 October 2008
Completed 4 years mandatory articleship and contributed in the role of Audit Senior, with visits to KPMG Oman and KPMG Dubai offices under short-term staff mobility program for 6 months
Managed a list of major clients with KPMG such as: State Bank of Pakistan, Oman International Bank – Sultanate of Oman, Pakistan Income Fund, Pakistan Stock Market Fund, First Habib Income Fund, Pakistan Security Printing Corporation (Private) Limited, LR Pak (Private) Limited, XPonCard Pakistan (Private) Limited, National Refinery Limited & Merck Marker (Private) Limited
Other 31 October 2008
Fellow Chartered Accountant - Institute of Chartered Accountants of PakistanOther 30 April 2016
CPA (US) - American Institute of Certified Public AccountantsMaster 30 June 2005
Masters of Arts (Economics) - University of KarachiBachelor 31 December 2001
Bachelor of Commerce - University of Karachi