Nazim Merchat
(Job Seeker - Active)
Accounts/Finance Manager
Dubai
Summary of Career
1. Monitoring and enhancing all financial procedures and internal controls, automating and integrating financial information systems, preparing financial forecasts with coordinated budget projections for Middle East countries & Pakistan with a team of 12 members.
2. Working for ensuring contract compliance, accounts finalization on monthly/quarterly closings, commercial management and commercial proposals to franchisees in GCC countries
3. Coordinating with Leadership Team/Operations Team on new tenders and projects regarding the price of services, solution prospect & changes in existing services for clients
4. Reviewing and finalizing Value-Added Tax (VAT); driving process improvements to maximize benefits within statutory norms
5. Managing inter-departmental collaboration: HR, Admin, Legal for the matters related to payroll, tenders and internal budget finalization
6. Implementing significant improvements in accuracy and timeliness of cash management and reporting in consultation with Treasury Team along with establishing various controls & processes in place at various units across UAE
7. Conducting periodic internal process audits at various units across UAE along with account receivables & payables
8. Supervising the implementation of changes in day-to-day financial processes; incorporating system based controls resulting in the elimination of several manual processes
9. Supervising monthly and annual accounts closures.
10. Proficiency in formulating budgets and implementing systems/procedures, conducting aging analysis, preparing key reports to exercise financial control and enhancing the overall efficiency of the organization.
Successfully implemented VAT and related process changes for UAE & KSA entities to comply with FTA & GAZT guidelines, i.e., contract revision, price revisions, realigning processes, & records management. Lead the project of digitization of sales & purchase invoices, and system upgrading to comply with VAT. Through controlled negotiation, managed maintained a high rate of revenue retention from overseas locations ranging between 30- 35% on the top line earned locally. Through continuous cost monitoring/audits, operating costs stayed constant in overseas locations. Redesigned & renegotiated commercial models for overseas locations by including standard central charges, resulting in a reduction of cost and an increase in revenues. Completed, six sigma project on the logistic movement of documents resulting in a financial saving. Established & implemented new finance processes & policies for the newly added locations. Established & implemented the complete financial planning and budgeting system for new startups. Completed, the location-wise physical identification of assets and tagging activity in GCC.
Experience as Accountant
Griffin Nagda & Co
17 May 2007
31 August 2007
Managing - routine accounting and bookkeeping for clients
Assisted in maintaining sales ledger and general ledger
Preparation, fulfill, and distribute employee checks
Monitored vendor statements, wire transfer requests, and other transactions
Posting of customer checks, vendor payments
Correcting and modifying inaccurate files and records
Assisted in account analysis
Reconciled account balances
Processed billing adjustments and refunds
Assisted the financial department, accountants, other assistants, and accounting manager as needed
Filing, mailing, and other duties as needed.
Experience as Sr. Accountant
VFS Global
12 September 2007
31 March 2012
Roles & Responsibilities:
Responsible for day to day accounting of local and international transactions, and to ensure all financial procedures, policies have adhered, and internal controls guidelines have not deviated.
Responsible for complete finalization of accounts on a monthly & periodic basis, recognition/reconciliation of monthly revenues, management report preparation, depreciation run, capitalization, & accruals/provisioning.
Responsible for intercompany reconciliations and accounting, vendor management, accounts receivable handling (Local & International), client invoicing, accounting receipts & cash/bank payments, and bank reconciliation.
Representing region during internal & external audits, pre-audit preparation & post audit closures on findings.
Single point of contact for the global Management information system (MIS) team for the Middle East countries &
Pakistan for any variance queries inputs, data & information.
Single point of contact for other support departments for accounts and finance-related matters.
Responsible for interacting with other departments for input on annual budgets, payroll & financial and non-financial information.
Experience as Assistant Manager- Accounting
VFS Global
01 April 2012
31 March 2016
Responsible to ensure financial procedures are correctly followed, internal controls are maintained, ensure accuracy of day to day accounting and supervising the functioning of the accounts department, timely closures of (monthly/periodic) accounts, controlling over/underestimations of accruals/provisioning & timely, accurate submission of regional reports.
Experience as Accounting Manager
VFS Global
01 April 2016
31 October 2018
Responsible for the complete function of the accounts department. Overseeing and enhancing all financial procedures, internal controls, automating, integrating business information systems, preparing forecasts with coordinated budget projections for Middle East countries & Pakistan.
Experience as Consultant- Finance & Accounts
Jeebly LLC
20 September 2019
21 November 2019
Setting up financial budgets/forecasts for FY 2020 under the direct guidance of the leadership team. Streamlining existing processes [Wages, Recoveries, Cash Collections & Reconciliation, Payment Processes]
Preparation of segments wise project budgeting/forecasts for the new location in GCC.
Enabling new MIS reports; Cash flows, BEP analysis, Per Hour/Per Client Comparative analysis.
Project to automate the cash reconciliation process [System vs. Actual cash]
Bachelor 01 October 2003
Commerce graduate. with finance & accountancy as majorsMaster 01 December 2016
EMBA (Finance & Marketing)Other 13 May 2020
Certified Management Accountant (CMA)