Fasil Zewdu

CREDIT COLLECTIONS:

• Responsible for closely monitoring the ageing of payment receivables and ensuring that receivables are monetized, improving cash flow, minimizing bad debt while supporting the sales activity.
• Propose & execute the collection strategy based on the customer profiles and Line of Business (LOB).
• Provide accurate statement of accounts (SOA) and communicate with the client on their current outstanding, overdue situation and needs to adhere to the contractual terms of payments thereby impacting the DSO.
• Monitor the payments ageing so has to provide clients with invoice reminders as the due date of payments fall due.
• Preparing cash flow forecasting and submit to VP– Commercial and closely follow up with the client for the receipt of fund as per the forecasted amount.
• Highlight early warning signs (Red Flags) for potential default and evaluate the probability of default.
• Responsible for providing Collection Reports
• Identifying and classify the clients in to different business segments like.. Government, Private , Banking Sector...etc and also categorize them as Regular, Irregular, Critical Clients in order to have a proper follow up plan.
• Vigorously follow up with Clients both verbal and written; also interaction through E-mails and letter correspondence with frequent visits to their office to ensure timely receipt of funds.
• Ensure regular in house parties account reconciliations.
• Obtain balance confirmation from the clients periodically /annually.
• Maintaining call logs and preparation of collection reports on daily basis.
• Utilized strong communication skills to handle difficult conversations with customers, maintaining professionalism and empathy.
• In line with the advice of management, customized payment plans for financially distressed clients and increasing likelihood of repayment.
• Safeguarded company assets by conducting periodic reviews of accounts receivable aging reports to identify trends requiring attention or intervention.
• Improved collections efficiency by maintaining accurate records of client communications and payment plans.
• Developed strong relationships with clients through excellent communication and negotiation skills, leading to successful payment arrangements.
• Streamlined reporting processes for management review, facilitating timely decision-making on credit risk mitigation strategies.
• Supported team members in achieving targets, sharing best practices, and providing guidance when needed.
• Enhanced company cash flow by effectively managing a portfolio of overdue accounts.
• Minimized losses by identifying potential bad debts early in the collections cycle and taking appropriate action.
• Conducted thorough account reviews before initiating collections actions, ensuring accurate information was used throughout the process.
• Spearheaded cross-departmental collaboration, fostering stronger communication between collections and operations teams to address any operational issues promptly.
• Managed a diverse portfolio of high-value accounts with diligence and professionalism, recovering significant amounts of outstanding debt over time.
• Maintained detailed records of all collection activities, ensuring compliance with company policies.
• Built long-lasting relationships with key clients through regular communication channels providing updates on their account status and addressing any concerns proactively.
• Responded to customer inquiries and provided detailed account information when requested
• Implemented timely escalation procedures when necessary, ensuring prompt attention is given to high-risk receivables.
• Escalating all dispute cases to VP - Commercial review and discuss to take necessary action such as forwarding those cases to respective operation team for immediate action.
• Preparing for calculating the bad debt Reserve calculation to accurately reflect the final potential impact to the Business ‘P&L’.
• Ensuring proper allocation of payments in dynamics system.

BANK GUARANTEES:

• Prepare the bank guarantee request, obtain management approval and coordinate for submission to Treasury dept. and coordinate with them to procure the guarantee from bank and submit the same to client with adequate acknowledgement.
• Coordinating & obtaining the required additional documents supporting the Bank Guarantee process like Guarantee specimen from the client.
• Contacting and negotiating with the client towards the amendment terms of the Bank Guarantee /Guarantee specimen if any risky clauses identified.
• Coordinate & collect the expired bank guarantees from the client and arrange submission of the same to finance team for further cancellation process.
• Maintenance of the records of Bank Guarantees.

INSURANCE:

• Handling of Insurance claims towards accidents occurred at the site and reported by the clients/operation/QHAC team.
• Coordinating with AG Group Insurance teams and insurer for timely submission of Claims for reimbursement.
• Followed through the Insurance claims with insurer/ AG Group Insurance teams till cost reimbursement to the company and settlement to the client.
• Coordination and submission of the Group insurance policy to the client as and when requested.
• Initiating, processing & coordination with AG Group Insurance teams & clients for any new project specific insurance request from the client.

LEGAL AND AUDIT:

• All delinquent customers to be brought to the notice of VP - Commercial for review and escalated to legal team for further action.
• Collaborated with legal team on escalated cases, resulting in higher recovery rates through litigation or arbitration processes.
• Keeping a track of any bounced cheque’s and thereby forwarding those files to Legal Dept. for further action if failed to clear by the client.
• Providing assistance during internal and external audit sessions under the guidance of VP-Commercial.

ADMINISTRATION:

• To liaise with Finance dept. for Bank Statements, Payment Allocations, etc.
• To liaise with Operation team. for all service-related issues such as Attendance Sheets, poor performance complains, various incident escalation...... etc.
• To liaise with billing team. regarding invoicing queries, issuance of Credit notes, etc.
• Ensure approved Credit Notes are posted in Dynamics System by Finance team
• Filing all customer correspondences properly for any future references.

ADHOC AND SUPPORT:

• Prepare various MIS reports regularly as per the instruction of VP-Commercial.
• Meeting client regularly for payment follow ups, contractual issues, new or expired bank guarantee and insurance related matters...etc

• Conducting various audit engagements & prepare audit reports.
• Improving internal control efficiency & risk reduction by providing & presenting valuable audit findings
• Enhanced internal audit processes by implementing risk-based strategies and methodologies.
• Coordinated with external auditors during annual reviews to provide necessary information and support their efforts in validating financial statements.
• Produce monetary recovery by identifying errors, omissions & unlawful payments.
• Examine the financial records, including payroll records, accounting books, inventory and equipment records.
• Improved overall business performance by assisting various departments in creating action plans based on audit findings and recommendations.
• Developed comprehensive internal audit plans to address key risks and ensure compliance with regulatory requirements.
• Strengthened company''s control environment by conducting periodic testing of key controls and monitoring remediation efforts as needed.
• Managed multiple audit projects simultaneously, ensuring timely completion of each assignment while maintaining high-quality deliverables.
• Collaborated effectively with cross-functional teams to identify, assess, and mitigate potential risks within the organization.
• Prepared working papers, reports and supporting documentation for audit findings.
• Conducted thorough financial, operational, and IT audits for various departments, identifying weaknesses in controls and providing recommendations for improvements.

• Enhanced internal audit processes by implementing risk-based strategies and methodologies.
• Conducting various audit engagements & prepare audit reports.
• Improving internal control efficiency & risk reduction by providing & presenting valuable audit findings.
• Produce monetary recovery by identifying errors, omissions & unlawful payments.
• Used risk assessment standards to conduct and participate in audits pertaining to internal control efficiency & risk reduction (Conducting a risk based Internal Auditing).
• Tested internal controls and operations procedures Companywide; to ensure compliance
• Assess Revenue linkages & identifying cost reduction methodologies.
• Analyze financial statements to identify trends & anomalies in financial data’s
• Examine the financial records, including payroll records, accounting books, inventory and equipment records.
• Audit walkthrough preparation.
• Recommending modification or changes while ensuring all policies and procedures are followed.
• Conduct any tasks or reviews requested by the Audit Manger.

KEY AUDIT AREAS COVERED

o Cash Vouching

o Bank Vouching

o E- Cheque payments verifications

o Payroll Verifications

o Physical Stock Verification

o Physical Cash Verification

o Contracts & Sales Invoice Verification

o Manpower Deployment Verification

o Insurance

o Debtors & Creditors Analysis

o Project Profitability Analysis

o Financial Ratio Analysis

o General Ledger(GL) Scrutiny

o Bank Guarantees Verification

o Purchase Verification

o MIS Preparation

o Transport Verification

o Vendor Payments Analysis

o Sub Contractors Verification

o Process Flow Chart

o General Site Audit

• Handled day-to-day accounting processes to drive financial accuracy.
• Reconciled accounts and reviewed expense data, net worth, and assets.
• Prepare Annual & Monthly branch financial reports.
• Preparation of annual operating budgets
• Assist in reducing outstanding accounts receivable balances by diligently following up on overdue invoices.
• Prepared working papers, reports and supporting documentation for audit findings.
• Collaborated with external auditors during the annual audit process to provide necessary documentation and address any concerns or findings promptly.
• Reviewed vendor payments & ensuring period of payments are as per the credit period
• Provided journal entries and performed accounting on accrual basis.
• Prepared daily & weekly bank reconciliation .
• Maintained integrity of general ledger and chart of accounts.
• Supervise all counter cashiers & ensure daily cash collection has deposited in the bank in the same date
• Prepare monthly cash collection reports