Abdul Salam
Finance Manager
Dubai
Summary of Career
1. An analytically strong Finance Management professional with over 5 years of performance driven experience in managing entire gamut of financial activities in the startup as well as in winding up environment;
2. Hands on expertise in executing strategic commercial plans for the development and implementation of robust financial structure by enforcing stringent financial controls and developing business & financial best practices by identifying & adopting emerging trends to achieve organizational objectives & profitability norms;
3. Possesses a robust record of quantitative experience, predominantly in financial planning, merger/acquisition, budgetary control, finance & accounts and auditing along with system implementation to enhance as well as achieve operational excellence;
4. Strategic change driver; holds strong knowledge in prevalent economic/financial reforms with extensive experience in restructuring finance and management operations towards achieving a static growth;
5. Expertise in implementing financial controls, managing various accounting activities including accounts finalization, financial reporting, preparation of financial statements (statement of financial position, statement of profit or loss and other comprehensive income, statement of cash flows etc);
6. Skilled in providing and interpreting financial information, financial advice and support while evaluating internal control systems with exposure in recommending necessary suggestions to improve efficiency and financial performance in line with the standards;
7. Multi skilled professional with experience in setting up and managing processes, including Administrative, Legal, HR from scratch with the capabilities in providing valuable financial advice to realize financial goals;
8. Proven Success in integrating values, re-engineering workflow processes, increasing performance metrics;
9. Possesses extensive grasp of all financial drivers, risk management, audit compliance and corporate financial governance;
10. ;
Experience as Audit Trainee
01 July 2014
30 September 2014
• Assisted in the execution of audit procedures. Performed various duties such as understanding routine data processes, testing controls, and performing substantive procedures
• Analyzed evidence, prepared written communications, participated in one-on-one and small group discussions with other engagement team members and interacted with client personnel
• Clearly and accurately documented the execution of specific audit procedures as defined by the engagement objectives, client's engagement history and planned audit approach
• Exercised professional skepticism in gathering, reviewing, and analyzing client information
• Maintained a strong client focus, be responsive to client requests and developed/maintained productive working relationships with client personnel
• Demonstrated teamwork, integrity and accountability. Assisted and collaborated with audit team members. Contributed ideas/opinions to teams and listen/respond to other views
• Used technology to continually learn, share knowledge with audit team members and enhance service delivery
• Performed interim Stock taking
Experience as Finance Manager
01 July 2017
02 February 2020
A well-funded British family owned & managed Group with equity interest in Offshore Oil & Gas drilling contracting, Trampoline Park chain (with operating parks in Netherlands and France), Fit out & Property maintenance sector in Dubai, UAE.
Key Highlights:
• Direct and oversee all aspects of Group finance & accounting functions, overseeing bookkeeping for Group companies, manage monthly and annual accounts, ensure that financial statements are prepared in compliance with IAS/IFRS and UAE regulatory laws/rules. Prepare weekly cashflow forecasts and monthly management reports within the agreed deadlines. Maintain a centralized accounting system to ensure that Group accounts are effectively managed.
• Facilitated CEO in establishing Fit out & Property maintenance business; managed entire end to end activities related to Finance, HR, Administration and Legal along with financial performance reporting, forecasting/budgeting, identifying trends/business drivers and implementing controls etc.
• Facilitated strategic support in securing warehouse (sourcing office construction), registering the company with relevant Legal Authorities (Dubai Trade/Customs, Federal Tax Authority, Etisalat, Emirates Post & MOL), opening corporate Bank Account, sourcing personnel, arranging their visas and acquiring vehicles to set up overall company processes in the region.
• Developed and executed Fit out company chart of accounts, drafted different organizational forms/documents, using & implementing the same on offline and online Portals.
• Developing trends and projections for company's finances with the accountability of reviewing and evaluating cost-reduction opportunities and overseeing operations of finance department, establishing goals and objectives.
• Prepare and Manage annual budgets, conducting variance analysis to understand inefficiencies in systems, spearheading efforts to identify, analyze, measure, control and report credit risks. Support GM/Operations Manager in Project Budgeting, contributing towards improved financial performance, heightened productivity to facilitate internal financial control ensuring business growth and profitability.
• Designed and implemented internal controls in key areas of business such as cash receipt/disbursement, payroll, inventory and fixed assets acquisition.
• Preparing & filing VAT returns quarterly as required by Federal Tax Authority, arranged credit facilities from bank and maintained good banking relationship.
• Manage Group Account receivable department on regular basis. Check credit worthiness of new customers, open new credit accounts and ensure that the Group has all the relevant information on new customers. Reconcile receivable accounts on the monthly basis for the whole debtor ledger.
• Manage timely and accurate processing of supplier’s tax invoices, purchase orders, expense reports, tax credit notes and payment transactions. Negotiate payment terms with suppliers, resolve invoices discrepancies and reconcile suppliers accounts.
• Responsible for the integrity of financial information and systems, envisage significant management information systems with overall accountability of directing financial management functions.
• Preparing company Payroll and process through WPS within the specified timeframes and proficiently maintaining staff leave salaries, gratuity and air ticket record while maintaining seamless coordination with PRO regarding staff visas;
• Liaise and coordinate with External Auditors to finalize Devon Group Annual Audit in timely manner and making vital efforts in conducting reviews and evaluations to realize optimal cost savings.
Key Deliverables:
• Facilitated effective support to the Owner in setting up the Fit out & Property maintenance business from scratch; launching overall business operations in Jan 2018 to realize the turnover to the tune of AED 4 million as of month ended Dec 2019;
• Saved approx. AED 16,000 / year by singlehandedly registering the company with FTA (Federal Tax Authority), and Filing VAT returns;
• Implemented Field service management software (Jobber) and Quick Books online (Accounts Package) successfully without any consultancy service from outside consultant;
• For Fit out business established credit terms with some of the suppliers averaging AED 75,000 / month;
• Received appreciation from CEO for identifying and reporting a fraud of employees both at lower and higher management level.
Experience as Chief Accountant
11 January 2015
26 June 2017
A well-funded New Zealand-family owned & managed, Bizkit is Interior fit out and Office furniture manufacturer in Dubai, UAE.
Key Deliverables:
• Saved around AED 81,600/year for the company by taking charge as accountant cum admin manager that eliminated the separate requirement of manpower as admin manager as well as audit firm & PRO;
• Strengthened the company’s finance to support ongoing projects by obtaining loan of AED 500,000 (AED 150,000 & AED 350,000) from two different Banks, including Mashreq & RAK;
• Successfully retained an average fund of AED 80,000/month by establishing credit terms to up to 3 months with core suppliers, involving Danube, Emilam Industries & Ectratech trading etc.
• Saved cost by AED 3300/month (AED 39,600/Year) on transportation and accommodation by relocating Staff accommodation close to the Factory to ensure streamlining of overtime work;
• Arranged AED 326,000 worth of furniture Manufacturing machines, including Edge Bander, Panel Saw & Aluminum cutting machine etc. at credit/installments within an agreed time frame of 15 months with the supplier;
• Procured new Auto Edge Banding Machine (Fravol) which eliminated the manual process of rounding, thereby saved 50% of the lipping process time with significant savings on man-hours.
Bachelor 30 October 2008
(Graduated in Financial Accounting, Cost Accounting, Taxation & Auditing) University of the Punjab, PakistanOther 21 February 2014
CMA (Cost & Management Accountant) Associate Member of Institute of Cost and Management Accountants of PakistanOther 30 July 2016
CPA (Certified Public Accountant) Associate Member of Institute of Certified Public Accountants of PakistanOther 30 July 2018
PA (Public Accountant) Associate Member of Institute of Public Accountants, AustraliaOther 30 July 2018
FA (Financial Accountant) Associate Member of Institute of Financial Accountants, UKOther 01 August 2019
Student (Professional Level) Institute of Chartered Accountants in England and Wales, UK