SAP ERP (MM,FICO,BW,BPC)
Jain Sebastian K
Senior Accounts Officer
Bur Juman,Dubai
Summary
Experienced finance professional with 15+ years of expertise in accounting and financial management. Skilled in analyzing and preparing financial statements, with a proven track record of creating impactful strategies to drive business objectives and increase revenue. Strong leadership skills and a focus on business optimization, dedicated to delivering results and driving success for organizations.
Overview
15
15
years of professional experience
5
5
Languages
Work History
Senior Accounts Officer
Al Futtaim Education Foundation
Al Badia, Dubai Festival City
01.2024 - Current
- Collaborated closely with the sales team, ensuring alignment between invoicing practices and contractual agreements with clients.
- Facilitated successful audits through well-organized documentation of accounts receivable transactions and activities.
- Strengthened relationships with clients by providing exceptional customer service during the collection process.
- Mitigated risk of bad debts by maintaining an updated watchlist for high-risk customers and promptly reviewing their account statuses.
- Developed comprehensive aging reports, enabling management to make informed decisions on delinquent accounts and potential writeoffs.
- Ensured compliance with established accounting standards and regulations throughout the accounts receivable process.
- Monitored changes in industry best practices, implementing relevant techniques for improved accounts receivable management.
- Improved cash flow by monitoring and managing outstanding accounts receivable balances.
- Supported organizational growth by providing insightful analysis on accounts receivable trends and performance metrics.
- Enhanced reporting accuracy by maintaining up-to-date customer records and reconciling accounts.
- Recorded deposits, reconciled monthly bank accounts and tracked expenses.
- Reconciled accounts, managed audits and updated financial records with remarkable accuracy.
- Identified, recommended and executed opportunities to enhance accounts receivable and billing processes to meet finance requirements.
- Reconciled company bank, credit card and line of credit accounts, investigating, and resolving discrepancies to keep accounts audit-ready.
- Reduced financial discrepancies, effectively reconciling bank accounts and organizing information into accounting software.
- Managed complex problem-solving for upper management in order to complete projects on-time and within budget.
- Facilitated cross-department communication to ensure consistent understanding of budgetary goals and constraints.
- Provided training and guidance to junior analysts, fostering a collaborative work environment conducive to professional development.
- Generated annual budget forecasting information for executive and corporate reports.
- Identified and monitored budget expenses for accuracy and signs of fraud.
- Compiled statistical data after each month-end closing.
- Evaluated procurement needs and projected expenditures.
- Reviewed monthly operations to assess compliance with budgets and determine necessary adjustments for future plans.
- Coordinated annual audit process, ensuring adherence to financial policies and procedures.
- Participated in special projects as needed, providing valuable insights based on extensive knowledge of company finances.
- Evaluated project proposals for potential risks, ensuring alignment with corporate objectives and long-term sustainability.
- Optimized use of available funds by prioritizing high-impact projects.
- Collaborated with management teams to establish realistic budgets that support organizational growth objectives.
- Streamlined monthly financial reporting process, ensuring accuracy and timeliness in financial statements.
- Assisted in the preparation of annual budgets, working closely with department heads to gather necessary information.
- Identified and resolved discrepancies in budget reports, maintaining financial integrity.
- Ensured compliance with regulatory standards by meticulously reviewing budget proposals and expenditures.
- Supported strategic initiatives by providing insightful financial analysis and recommendations.
- Implemented process improvements that streamlined workflows and reduced the time required for monthly budget reconciliations.
- Conducted variance analyses to identify potential areas for improvement in existing budgeting practices.
- Analyzed past spending trends to forecast future budget needs accurately.
- Implemented process improvements for more efficient invoice tracking and payment collection.
- Provided comprehensive financial reporting for management review, enabling data-driven decision making.
- Streamlined billing processes, resulting in faster invoice generation and reduced errors.
- Reconciled discrepancies between invoices and customer payments efficiently, resolving any disputes promptly.
- Supported month-end close activities by preparing accurate accounts receivable reports for finance department review.
Senior Accountant
Al Futtaim FSSC
Dubai
07.2023 - 12.2024
- Review and analyses Real Estate entities BPC vs Group BPC historical migration data provide key observations / recommendations to Business Unit & Group Finance Team
- Prepare BPC JVs for corrections to match SAP vs BPC
- Highlight the system glitch with BU / Group Finance and EIT team
- Review Providing analysis and reports related to open line item in Real Estate Entities General ledger and taking required action for SAP clean up
- Reconcile Real Estate BPC vs Group BPC post cut-off to bring SAP balance as Group BPC balances
- Prepared monthly journal entries and reconciliations.
- Reconciled accounts and created documents for monthly closure procedures.
- Completed year-end closing processes with controllers and external auditors.
- Provided timely and accurate financial reporting to senior management, enabling informed decision-making based on reliable data.
- Reviewed documents and accounts for discrepancies and resolved variances.
- Updated general ledger with latest entries.
- Successfully managed multiple high-stakes projects concurrently, consistently meeting deadlines while maintaining exceptional attention to detail and quality control.
Senior Accountant
Athlocity LLC, Under Armour Sports (GMG)
Dubai
07.2021 - 06.2023
- Review and analyses monthly financial results (B/S, P&L and Cash Flow) and provide key observations / recommendations to Management
- Providing analysis and reports related to open line items in the General ledger and taking required action to clear
- Prepared monthly journal entries and reconciliations.
- Reconciling GL Accounts, preparing 'action-triggering' schedules and taking timely action to resolve any issues
- Reconciled accounts and created documents for monthly closure procedures.
- Drive timely monthly, Quarterly & Annual closing process
- Completed year-end closing processes with controllers and external auditors.
- To deliver monthly accounting close for revenue and expense, financial reporting, cash flow forecasting and balance sheet integrity
- Provided timely and accurate financial reporting to senior management, enabling informed decision-making based on reliable data.
- Contribute to the development of business management relationships through monthly reviews and recommendation of improvement initiatives
- Accountable for Funding, Cash flow planning and effective utilization of facilities (CAPEX and Working capital Optimization)
- Financial performance KPIs are critical metrics that organizations use to evaluate their financial health and guide decision-making
- Building measurement and governance dashboards around these KPIs helps organizations track their performance and ensure effective monitoring and management of their financial performance
- Review of vendor contracts and providing inputs
- Evaluate Business decisions and review financial impacts
- VAT Returns for UAE / KSA / Bahrain / Oman / Egypt
- Handled month-end and year-end end finances by managing and reporting fixed assets and other data.
- Optimized month-end closing procedures by streamlining workflow processes, reducing time taken from 10 days to 5 days without compromising accuracy or detail level achieved.
- Organized and detail-oriented with a strong work ethic.
- Participated in team projects, demonstrating an ability to work collaboratively and effectively.
Accounts Executive
Robinsons, Regional Office, Al Futtaim Retail LLC
Dubai
05.2016 - 06.2021
- Prepare and present Annual Financial Budgets & Quarterly Forecasts with the business to the Finance Leadership for UAE & KSA regions
- Lead creation of Analytical reports, System/software implementation and tools for budgeting, forecasting & Operational MIS
- Review/ensure application of appropriate internal controls, compliance, and financial processes
- Coordination with the SSF on AR, AP, GL, Inter Company AP/AR (ICM) and Payroll Accounting
- Serve as key point of contact for external auditors, manage preparation and support of all external audits (FS, Tax etc.)
- Maintaining and updating policy and procedure manuals (SOPs), including Financial Policies & Procedures manual, and ensuring compliance
- Research, interpreting and providing guidance to finance leadership on the application of new accounting pronouncements and accounting for unique transactions
- Liaise with various AF Group departments like Group Legal, EIT, Group Admin, Group HR, SSF etc
- To deliver monthly accounting close for revenue and expense, financial reporting, cash flow forecasting and balance sheet integrity
- Contribute to the development of business management relationships through monthly reviews and recommendation of improvement initiatives
- Design and implement best practices and process improvements within the Financial Reporting, Technical Accounting and Financial Controlling processes
- Ensure the finance/accounting department has strong systems and policies and that these systems and policies are continuously reviewed and improved
- Define key financial performance KPIs and build measurement and governance dashboards around KPIs
- Review and reconciliation of BS accounts
- Prepare long term Financial strategic plan to create 3-5-year financial projections
- Build & maintain key relationships and strategic alliances with vendors & business partners
Accounts Executive
Marks & Spencer, Regional Office, Al Futtaim Retail LLC
Dubai
12.2013 - 04.2016
- Providing support in yearly stock audit and yearly closing of books
- Reconciliation of GL Accounts, preparing 'action-triggering' schedules and taking timely action to resolve any issues
- Month end close entries
- Presenting a true & fair view of the financial position of the company by timely preparing financial statements in accordance with Standard Accounting practices
- Supervising routine general ledger accounting & day-to-day management of vendors & customer accounts
- Freight cost analysis of all the logistics invoices and payments
- Coordinating with the Service Providers with regards to the shipments and Invoices related queries
- Freight Cost Management of Import, Export of Shipments, and verification of rate cards with the agreements & contracts
- Coordinate with the Gulf Agency Company (GAC), third party agents and warehouse on daily basis with regards to the merchandising & non-merchandising goods movements
Financial Analyst
Affiliated Computer Services, a Xerox Company
Bengaluru
03.2011 - 07.2013
- Working with all the different departments of Finance, Accounts Payable/Cash Receipts, Treasure, Senior Accountant, Controller and CFO, administering all aspects of the accounting, financial reporting to the front end to take some important decisions like revaluation, amortization patterns
- General Ledger reconciliations
- Submission of Trial Balances to eTBR and ending balances in eARMGs to perform the Reconciliation
- Perform Foreign exchange reevaluation, departmental revaluation report financial reports
- Set up new Book Rates (exchange rates) in SAP on a monthly basis
- Perform Trial Balance Reconciliation and all the ending balances are updated to arrive at the actual profits
- Perform various account reconciliations and work to resolve any discrepancies
- Monthly management reporting to CFO and all the counterparts
- Review vendor activity to ensure all monthly invoices have been received and processed
- Review contract obligations to ensure all contract invoices have been received and processed
- Perform operating cash account reconciliation and related journal entries
- Perform various detailed month-end allocations for fringe benefits, shared costs, and indirect cost allocations
- Record the release from restrictions revenue journal entry
- Review all month end reconciliations and journal entries prepared by the A/P Senior Accountant
- Accounting for some of the Material Expenses like Cost to Repair, Part Price Variances, Revaluation amortization, warranty, and In-house charges
- Performing reconciliations of the Balance Sheet accounts, which we have impacted for the month
- Combine financial statements at the properly stated currency rate for consolidated reporting
- Assist with the implementation of accounting policies and procedures
- Ensure that financial management reporting requirements are timely, complete, and accurate
- Maintain an adequate base of technical skills, knowledge, and practices within the accounting department to ensure competent levels of performance
- Other duties / special projects as assigned
Senior Finance Associate
Hewlett Packard
Bengaluru
09.2010 - 11.2011
- Audit checks, cost allocation & Payments of invoices for Logistics Companies with specified time limit for (APAC, EMEA & AMS Region)
- Worked with carriers like Cosco, Schenker, DHL, Kuehne- Nagel and Panalpina
- Month end closure Activities: Preparation of Accruals for Estimated Invoices and Billings, Reclass entries
- Training the new joiners to fit into the process
- Maintenance & Documentation of the issues, (Issue Tracker)
- Preparation of Monthly metrics, (KPI to be maintained)
- Handling of Customer Calls, query and issues
- Introduction of a new Lane for on boarding to work with Front End Logistics Department Team
- Handling the Russian Invoice payments with PANA & Kuehne-Nagel, Posting entries in SAP
- Maintenance of records of the team, being a record retention coordinator
- Maintenance of Process Generic Mailbox and SharePoint
Education
Bachelor of Commerce - Finance, Audit & Management Accounting
St. Joseph's Evening College, Bangalore
Bangalore, India 06.2005 - 06.2008
Skills
Account reconciliation expertise Audit coordinationBusiness performance optimizationAdvanced Excel and macro automationAccount strategy developmentData-driven insightsFinancial forecastingFinancial planningDetailed cost evaluationFinancial variance analysisData-driven forecastingAccount reconciliation expertise
Financial forecasting
General ledger management
Audit coordination
Internal controls
Revenue recognition
Bank reconciliation
Payroll processing
Expense tracking
Cost accounting
Variance analysis
Credit control
Intercompany transactions
IFRS expertise
Software
MS Office
Microsoft Dynamics 365
Microsoft Power BI
Business Intelligence
Tally Prime
Timeline
Senior Accounts Officer
Al Futtaim Education Foundation
01.2024 - Current
Senior Accountant
Al Futtaim FSSC
07.2023 - 12.2024
Senior Accountant
Athlocity LLC, Under Armour Sports (GMG)
07.2021 - 06.2023
Accounts Executive
Robinsons, Regional Office, Al Futtaim Retail LLC
05.2016 - 06.2021
Accounts Executive
Marks & Spencer, Regional Office, Al Futtaim Retail LLC
12.2013 - 04.2016
Financial Analyst
Affiliated Computer Services, a Xerox Company
03.2011 - 07.2013
Senior Finance Associate
Hewlett Packard
09.2010 - 11.2011
Bachelor of Commerce - Finance, Audit & Management Accounting
St. Joseph's Evening College, Bangalore
06.2005 - 06.2008
Languages
English
Hindi
Kannada
Tamil
Malayalam
Rewards And Recognition
- Exceptional Efforts Award Twice for outstanding Performance 2017 & 2018
- Best SME Award- Aug 2012 for resolving $ 53M system issue in SAP.
- Spot Award - For outstanding of Accounting Metrics for Inventory.
- Performance Award - Sep 2009, May 2010, Jan 2010 and July.
- Performance on 3PAR Migration
- E-Award - Oct 2010 for completion.