Please turn on your javascript Waseem Asif - Financial Controller - Specialized Projects Company (AL ISSA Holding) - Dammam, Saudi Arabia

Summary

Qualified Cost and Management Accountant (Pakistan), Associate Management Accountant (Australia) and Certified Financial Consultant (USA) with 14 years of diversified experience in Accounts / Finance / Business Planning / Treasury Management with local institutions MNC of repute. Quite capable to work in SAP Environment (as have implemented SAP (FI, CO AM) in Coca Cola Beverages). Have strong written communication, People Management, Presentation and Co-operation / Coordination skills. Responsible, team player hardworking individual. Finally holding independent positions for the last many years.

Experience

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Financial Controller
Specialized Projects Company (AL ISSA Holding)
Mar 2018 - Dec 2019 | Dammam, Saudi Arabia


Key Profile: Joined the organization as FC & mainly responsible for complete financial management of Contracting, Ready Mix business and for business development of Contracting business.
4   Started as FC to manage the financial team and overseeing financial accounting, monitoring and reporting systems along with closing of accounts on a monthly & quarterly basis for both businesses.
4   Renegotiation with banks for loans and getting started “on hold” projects worth of 270 M SAR by establishing guarantee-based model with sub contactors.
4   Pooled up Contractors and pre-qualified them for award of contracts.  
4   Participated in costing activities of Ready Mix and modeled the costing structure in a way that result is just a click away, ultimately resulted in cost optimization & enhanced margins.
4   Initiation of analytical reports including Dashboard and MC reports.
4   Presenting quarterly (and on need basis) complete businesses presentation to Group (VP & Chairman).
4   Right sizing concept applied and is perfectly working in Ready Mix setup, a total cost saving in this scenario is approximately 1.5 M SAR p.a.
4   Detailed level sales, Commission and credit policies were made and with the help of this, Ready Mix is able to generate 3-5% savings in incentives p.a. (while compared with last year). In addition, collections of Ready-Mix business are boosted and touched to its highest level with highest profit (earlier 5-7% now 10-11%).
4   Contracting business to be operated as Project Management setup and for the purpose, various contractors have been pre-qualified to work with SPC. This concept ultimately generate huge savings in terms of manpower, overheads, supervision etc. ultimately enhancing profitability.
4   Completed financial and legal separation of Ready Mix and Contracting businesses

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Finance Manager
KiCE (Al Kifah Holding)
Nov 2015 - Mar 2018 | Dammam, Saudi Arabia


Chiefly responsible for developing strategic policies, SAP implementation, developing business plans, managing business analysis, finalizing audit reports and managing accounting and finance matters of both the companies.

 Formulating policies in line with the organizational objectives, SOPs and necessary manuals as part of the Executive Committee.
 As the Business Process Leader for all modules of SAP implementation for KiCE Manufacturing and KiCE Commercial
 Creating a 5-year business plan and annual budget and presenting it to the board, reporting of actuals, explanation of variances to plan, monthly forecasting, calculation of pricing productivity and special revenues
 Target costing activities to create products that meet predetermined price goals and optimizing costing for various products.
 Overlooking the finalizing of audit reports as well as participating in evaluation of other businesses for takeover/ partnership.

Highlights:
 Played a key role in reducing per-hour labor cost, of Kifah Batching plant, by 45%, through systematic restructuring of the HR and Operational levels.
 As Business Process Unit Leader, successfully implemented SAP in two different companies (KICE) within 4-6 months.
 Instrumental in reducing the overheads by 20% for both the KiCE companies.
 Converted cash vendors to credit within 30-60 days and for some vendors from 15 – 90 days, extending approximately SAR 25M in terms of credit
 Successfully defined and implemented credit policies, improved compliance with corporate requirements and further reduced collection days from 120 to 50
 Diligently updated the board about both the companies businesses through presentation highlighting financial & operational performance of both the units individually, as well as prepared and delivered presentation of 5-year business plan.
 Performed business analysis on a motors business and advised denial saving a potential bad investment

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Group Accounting Manager
AL Sharq Flexible Packaging Factories
Nov 2014 - Oct 2015 | Riyadh, Saudi Arabia


Key Profile: Manage the accounts and the team. Manage ERP implementation, rising finance and dealing with all types of insurance corresponding to the financing.

 Successfully evaluated and implemented ERP, as member of the core management team.
 Raised short-term financing and SIDF for financing by efficiently coordinating with the banks to expand business. Dealt with all types of insurance, i.e. property and all risks, medical, vehicle, marine and credit insurance.
 Overlooked accounting and finance matters of 6 businesses including closing accounts on monthly basis as well as auditing the accounts from external auditors and finalizing audit reports.

Highlights:
 Played a key role in achieving a cost savings of approximately 30-40% in vehicle and medical insurance.
 Successfully consolidated financials for last 5 years and got accounts audited for last 5 years for the group with 7 independent units.

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Sr. Finance Manager
A & J Engineering Pvt. Ltd
Oct 2013 - Aug 2014 | Islamabad, Pakistan


Key Profile: Manage the accounts & finance departments, analyze and prepare data and accounting & financial documents and reports for internal and external purposes in line with the company’s mission, vision, role, and goals.

 As a member of core management team, independently managed accounting and finance department.
 Developed, implemented, and ensured compliance with internal financial and accounting policies and procedures
 Managed complete accounting on daily basis and guided the staff on monthly closing of accounts and reports generation along-with analysis and comments.
 Ensured that accurate and timely financial statements are prepared and delivered to the board on monthly basis.
 Overlooked working capital management and leasing of assets and compared it with buying and renting.
 Accurately carried out financial forecasting for 1-5 years tenure; dealt with banks for financing on the basis of forecasts.

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General Manager (Finance & Accounts)
ERDC Metal Paints Products Pvt. Ltd
Nov 2010 - Oct 2013 | Islamabad, Pakistan

 Managed a team of 24 members including treasury, internal audit and manager finance and accounts
 Drafted and implemented the accounting manual of the company
 Developed and implemented accounting system
 Successfully carried out financial modeling and analysis, prepared monthly, quarterly and annual budgets and delivered presentation of financial & operational performance to the board
 Consolidated the accounts of 5 companies operating under one umbrella
 Deftly controlled the expenditure line; reviewed cost of the product and proposed pricing
 Efficiently handled import matters; dealt with assets insurance and medical insurance matters and monitored external audit.
 Ensured effective working capital management and managed funds for payment of long and short term loans, dealt with banks to procure loans and secure highest mark-up against investment in TDRs
 Dealt with banks for local guarantees arrangement and limit enhancement as well as for LC matters
 Acted as Credit Administrator
 Prepared feasibility studies for new projects

Highlights:
 Played a pivotal role in designing a complete pay scale system including grade-wise promotion (base: tenure, education etc.), resulting in employee financial benefits with lower and upper limits.
 Identified irregularities in a huge project and performed back checks discreetly reducing total project cost by 10% approx.
 Instrumental in identifying irregularities in freight cost (hiring of trucks for transportation) and revising some of the contracts, thus reducing total freight cost by 10% approx.

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Dept Head (Sr. Ex Accounts, Sr. Ex Planning & Coord)
Coca Cola Beverages Pakistan Ltd.
Apr 2006 - Mar 2010 | Islamabad, Pakistan

Senior Executive (Business Planning and Coordination)
 Managed business planning, reporting and analysis as well as preparing and presenting complete annual business plan
 Developed and delivered part presentation of complete financials of business plan
 Reviewed estimates and BOY on monthly basis to deal with Direct Marketing Expenses
 Prepared Weekly New Products Development (NPD) report, operational plan, monthly management review meeting, preparation and presentation
 Conducted time and motion study for improving sales settlement cycle and directed vehicle capacity utilization reporting.
 Performed zone-wise and route-wise, pack-wise and brand-wise sales analysis on daily, MTD and YTD, budget vs. actual, day-wise sales plan and weekly and monthly forecasting

Senior Executive Accounts
 Worked in live environment as In-charge for SAP implementation
 Dealt with all administrative, logistics, sales and finance matters at the start-up of Islamabad location
 Efficiently verified the entries posted in General Ledger SCALA and worked on FINPACK
 Ensured compliance of control procedures for purchases, payments, receivables and general accounting
 Accountable for accounts closure on monthly basis and dealt with CAPEX
 Developed fixed assets coding structure, price structure of products
 Finalized distributor freight and sales team incentives and guided the support staff 30 No.’s
 Developed rolling/ budget in coordination with sales, HR and shipping department and revised estimates
 Projected depreciation and amortization, lease vs. buying analysis for trucks procurement

Highlights:
 Successfully implemented SAP (FiCO) at two locations of Coca Cola Beverages Pakistan Ltd in the capacity as a Leader.
 Functioned as an administrator, commenced a camp office and got completed buildings
 Managed complete operations and performed hiring of various officials as well as acquiring 2 promotion in 2.9 Years

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Research Officer
Engineering Development Board (Ministry of Industries & Production)
Jan 2004 - Apr 2024 | Islamabad, Pakistan

1. Drafted \"Cost of Doing Business in Pakistan\"
2. Organized \" First of its kind and international workshop on Steel Sector of Pakistan\" and
3. Extensive works done including pre-feasibility studies
for establishing various plants here in Pakistan.

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Manager Finance, Accounts Officer
Hotel Crown Plaza
Apr 2001 - Apr 2024 | Islamabad, Pakistan

Complete Management of Accounting & banking matters

Education

The Institute of Certified Financial Consultants Canada
Diploma, Certified Financial Consultant‎
Financial Management
Completed
2012
Institute of Cost & Management Accountancy of Pakistan (ICMAP)
Master, Masters, , CMA‎
Cost financial management accounting
2005
University of the Punjab
Bachelor, Bachelors, Bachelors in Commerce, B. Com‎
Accounting, Cost Accounting, Advanced Financial Accounting
1998

Languages

Expert English