Jawad Shafiq
Finance Manager
Dubai,United Arab Emirates
Summary
Qualified professional and experienced finance manager offering 14+ years of rich experience in leading all aspects of Finance & Accounts like Budgeting, Taxation, Audits, Accounts Payables / Receivables, Month-End Closing and finalization of books of accounts as per IFRS, IAS and ISA Standards with including 8+ years of experience in health care in UAE & GCC and 4+ years in real estate in UAE and holding companies. Looking for new opportunity to apply attention to detail and exceptional organizational skills.
Overview
16
16
years of professional experience
Work History
Finance Manager
Mostafa Bin Abdullatif Investments
Dubai, UAE
01.2021 - 06.2023
- Managed timely and accurate reporting of various financial transactions and information for detailed analysis.
- Developed and administered annual budgets following periods of strong analysis and research.
- Developed thorough forecasting and cash-flow management processes to maximise progression and profitability.
- Monitored and reviewed financial controls, processes and procedures to enable best practice development.
- Drove continual improvement in department processes and workflows.
- Enforced compliance with divisional and group financial policies and processes.
- Checked and evaluated allocation of capital expenditure.
- Directed financial reporting detailing yields, cost of transformation and profitability.
- Spearheaded and monitored end-to-end financial planning and analysis and balance sheet reconciliations.
- Mentored department managers in budget forecasting and cost-reduction measures.
- Led analysis of weekly, monthly and quarterly numbers, presenting findings to senior management.
- Assisted junior team members in collating monthly payroll information for processing.
- Maximized system functionality to drive accurate and timely financial information for weekly and monthly processes.
- Worked for holding company and oversee accounting function of all subsidiaries, associates and joint ventures including real estate, it, trading, manufacturing, hospitality, media & capital investments along with accounting of investment company and was responsible for preparation of consolidated financial statements.
- Prepared monthly management accounts, as well as handled month-end / period-end scheduling, adjustments, and closings and MIS reporting for all divisions.
- Financial planning, analysis, reporting and accounting of companies within group, providing strategic direction in implementing internal controls, ensuring efficient and effective financial operations with P&L accountability.
- Managed team of 20+ accountants to ensure completion of work on time and allocation of tasks.
- Assisted CFO in preparation of reports and data required by banks for structured finances in mode of loans, Islamic financing for working capital requirements and investments.
- Ensured implementation of new IFRS enactments in group's financial statements.
- IFRS and vat expert of group and was in charge of vat review and filing for all companies under group.
- Key and active role in ESR filing, ICV audits, external vat audits and compliance checks.
- Prepare and present customized MIS reporting for real estate business to ensure timely effective and corrective decisions if required.
- Analyzing property maintenance expenses along with market standards and reporting variance in same, if any along with historic and comparative analysis.
- Preparing schedules for investment properties and reviewing it on yearly basis to ensure fair value standard application.
Group Finance Manager GCC
Aramed Middle East
Dubai, UAE
12.2012 - 01.2021
- Managed timely and accurate reporting of various financial transactions and information for detailed analysis.
- Analyze monthly financial performance for all healthcare divisions including clinics, pharmacies, compounding labs and medical devices trading and give detailed reports on variations versus Budget.
- Review and submission of MIS reporting including but not limited to product wise, doctor wise, brand wise and division wise analysis.
- Analyzing acquisition of new product/brand along with feasibility and investment appraisal of project using NPV, IRR and other investment appraisal techniques.
- Preparing doctor hiring modelling and analyzing best of profit sharing or salary and remuneration based structure.
- Reviewing and analyzing complete costs related to staff, consumables and other shared based costs of group and proper allocation of same.
- Analyzing CAPEX budgets and reporting on cost benefit analysis for every item of CAPEX.
- Enforced compliance with divisional and group financial policies and processes and to ensure uniformity of application on all GCC based entities.
- Acted as point of contact in support of end-to-end system audits.
- Led analysis of weekly, monthly and quarterly numbers, presenting findings to senior management.
- Effective communication with all departments and to ensure alignment of each with strategic and financial goals
- Successful implementation of Oracle on all entities across GCC under group.
- Active collaboration with receivables and payables teams to ensure effective management of cash flow.
- Periodic negotiations with major suppliers based in Switzerland, Italy and China to ensure effective credit limits to bridge gaps between receivable and payable turnover periods.
Senior Audit Manager
Nazir Chaudhri & Co. Chartered Accountants
Lahore, Pakistan
11.2010 - 09.2012
- Identified deficiencies and recommended use of revised methodologies to improve audit applications.
- Contributed to audit planning, testing and review of audit programs to determine appropriateness for company.
- Utilized software to apply audit methodology.
- Attended and completed regular mandatory audit and accounting training to apply best audit practices.
- Supervised independent audits to monitor growth and productivity.
- Optimized team structure, aligning responsibilities with performance measures and metrics to establish audit success.
- Introduced automated audit system to generate cost savings.
- Composed professional development and educational plans for junior staff members.
- Trained and mentored staff to perform best audit practices and improve quality standards.
- Allocated resources and hired individuals with matching skills and potential.
- Prepared audit reports, providing clear description of findings and issues identified and recommending appropriate solutions.
- Managed assignments related to sales tax, income tax and corporate and personal tax of firm's clients.
Audit Trainee
Yusaf Saeed & Co. Chartered Accountants
Lahore, Pakistan
02.2009 - 11.2010
- Trained less experienced team members in standard procedures and software use.
- Liaised with senior staff to investigate and resolve complex transactions and discrepancies.
- Assisted team members with audit engagements to meet strict deadlines.
- Optimised efficiency of financial reporting by completing accurate disclosure checklists.
- Checked completed work against quality assurance criteria to guarantee standardisation and conformity to specifications.
- Reviewed financial data, performing analytical procedures to identify unusual transactions.
- Prepared over 10 corporation tax returns with zero error using taxation software.
- Prepared audit proposals for prospective clients, leading to contract wins.
- Reviewed financial statements, gathering and analysing data to verify accurate representation of transactions.
- Acted as point of contact for client queries, responding on timely basis.
- Represented organisation when visiting client sites in local area.
Intern
Allied Bank Limited
Lahore, Pakistan
12.2008 - 02.2009
- Internship in bank to gain experience of banks' working methodologies specifically related to corporate clients and LCs.
Intern
Pak Elektron Limited
Lahore, Pakistan
08.2008 - 09.2008
- Internship in Accounts & Finance Department
Intern
Syed Bhais Pvt Ltd.
Lahore, Pakistan
06.2007 - 08.2007
- Internship in Accounts & Finance Department to understand functionality of department
Education
ACCA - Reporting, Audit, Tax And Financial Management
ACCA
UK09.2023
ACMA - Cost & Management Accounting
Institute of Cost Accountants of India
India10.2020
B.Com (Hons.) - Accounting And Finance
Hailey College, University of The Punjab
Lahore, Pakistan08.2008
Skills
- Financial reporting and Analysis
- Budgeting and Variance Analysis
- Cashflow forecasting
- Corporate compliance
- Financial policy creation
- Balance sheet reconciliations
- Management accounting
- VAT returns
- Inspiring team leadership
- MI reporting
- Financial governance
- Written communication
- Consolidation
- Auditing
- Internal Controls
- Risk Assessment
- Cash Flow and Inventory Management
- SAP, Oracle and MS Office
Additional Information
Have been a debater through out my educational career and won many awards at organizational and local levels.
Work Preference
Work Type
Full TimeWork Location
On-SiteRemoteHybridImportant To Me
Company CultureCareer advancementPersonal development programsWork-life balanceTimeline
Finance Manager
Mostafa Bin Abdullatif Investments
01.2021 - 06.2023
Group Finance Manager GCC
Aramed Middle East
12.2012 - 01.2021
Senior Audit Manager
Nazir Chaudhri & Co. Chartered Accountants
11.2010 - 09.2012
Audit Trainee
Yusaf Saeed & Co. Chartered Accountants
02.2009 - 11.2010
Intern
Allied Bank Limited
12.2008 - 02.2009
Intern
Pak Elektron Limited
08.2008 - 09.2008
Intern
Syed Bhais Pvt Ltd.
06.2007 - 08.2007
ACCA - Reporting, Audit, Tax And Financial Management
ACCA
ACMA - Cost & Management Accounting
Institute of Cost Accountants of India
B.Com (Hons.) - Accounting And Finance
Hailey College, University of The Punjab
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