Waqas Ali
FP&A Manager
Summary
Finance & Accounting professional and Certified Chartered Accountant (ACCA), working with MNC since 2013 and having vast experience in:
Profitability management across 4Cs (customer, channel, category & country)
Financial modelling, profitability management, financial planning & analysis, budgeting, GAAP analysis
Management reporting, costing, payout analysis & CAPEX, working capital management review of accruals & provisions.
Implementation of pricing strategies to accelerate top line & bottom line growth & breakeven analysis.
Corporate finance roles related to Taxation, SG&A, marketing & supply chain, Insurance.
Overview
15
15
years of professional experience
1
1
Certification
Work History
FP&A Manager
CARRIER CORPORATION
Jeddah, Makkah
10.2018 - Current
- Overall responsible for deliverables on the Financial Reporting & closing process along with statutory Audit along with External Auditors
- Preparation of budgeted vs actual figures variance analysis, comparison of BUs financial performances based on KPIs, making the executive summary monthly and presenting it to the CFO & Directors.
- Monthly rolling forecast along with operations team & get it done into HFM system by incorporating with executive management
- Monthly Flash submission on business performance & expected P&L closing, along with operations team & report into HFM system
- Month VAT & WHT return filing & liaise with Auditors & Tax authorities for resolve all queries
- Risk management by ensuring all Insurance policies are in place negotiate with broker in terms, like PAR, Machine Break Down, IT equipment, Money fidelity, Burglary Insurance, making sure maximum risks cover
- ITC (International Trade Compliance) focal point for Carrier Saudi Arabia region, working with trade compliance & legal team of Carrier to make sure all business transitions should comply as per Carrier ITC policies
- Providing financial/ non-financial information to business divisions, Directors & GMs to help them making important decisions
- Timely closure of accounts and management reporting on a monthly basis for the regional legal entities.
- Dashboard creation for live performance monitoring for all business unit operating.
- Preparation and analysis of all Financial Planning (forecast and budget) for all business units, in line with corporate LRP
- Act as business partner to General Managers and Operational Managers to develop tactical business plan and maximise growth opportunities
- Regular visits to all branches in the country meet the team & improve the working relations.
- Contribute to continual process improvements to develop and streamline existing processes and to ensure robust controls exist across the organization (including control points managed by non-finance personnel)
- Preparing operational finance reports to monitor (material costs, direct and indirect costs, overheads allocation, utilization, overtime, etc.)
- Any other delegated responsibilities as instructed by higher Management to meet business requirements.
Finance Manager
Zamil Industrial Investment Company
Dammam, Eastern Province
09.2013 - 08.2018
- Preparation of budgeted vs actual figures, variance analysis, comparison of BUs financial performances based on KPIs, making the executive summary monthly and presenting it to the FD for the BOD
- Providing financial/ non-financial information to performance management team, BU GMs and executive management to help them making important decisions
- Timely closure and reporting of management accounting books on a monthly basis for all the region legal entities and provision of monthly management information to all Business Unit managers within the reporting units
- Lead and mentor the accounting finance teams, managing and appraising a robust and driven finance team to support the region operations
- Compliance with all Statutory and Tax reporting requirements for assigned Legal Entities including acting as focal point for annual audits, tax returns and other legal filings
- Preparation and analysis of all Financial Planning (forecast and budget) for all business units within remit, in line with corporate schedules, and as per ad hoc requests of Business Unit managers and VP Finance
- Act as business partner to General Managers and Operational Managers to develop tactical business plan and maximise growth opportunities
- Regular visits to all sites in the region expected to support adequately
- Contribute to continual process improvements to develop and streamline existing processes and to ensure robust controls exist across the organization (including control points managed by non-finance personnel)
- Ensure strict adherence to the Delegation of Authority policy and travel and expenditure policy
- Ensure that Balance Sheets are fully reconciled on Monthly basis in all the legal entities within reporting units
- Provide operational finance expertise to General Managers and Operational Managers in the reporting unit by analyzing the manufacturing and service data of the region plants (material costs, direct and indirect costs, overheads allocation, efficiency, overtime, lead time, asset utilization, etc.)
- Any other delegated responsibilities as instructed by higher Management within the timeframe specified in a safe and efficient manner to meet business requirements.
Financial & Credit Analyst
H.M AL, MUZAIN Cont. Est
Jubail, Eastern Province
08.2012 - 09.2013
- Timely closure and reporting of management accounting books on a monthly basis for all the region legal entities and provision of monthly management information to all Business Unit managers within the reporting units
- Lead and mentor the accounting finance teams, managing and appraising a robust and driven finance team to support the operations
- Contribute to continual process improvements to develop and streamline existing processes and to ensure robust controls exist across the organisation (including control points managed by non-finance personnel)
- Maintain & review the accruals & provision movement, and make sure these are correctly reflecting the books of accounts during month end closing
- Analyze credit data and financial statements to determine the degree of risk involved in extending credit limits
- Analyze customer financial statements to develop a credit line for customer
- Developed comprehensive understanding of business and operations as well as accounting and internal control system identifying risk areas during the process
- Preparation of monthly financial statements of organisation
- Assessment of financial statements to ensure their compliance with requirements of local laws, Regulation and International Financial Reporting Framework (IFRS)
- Provides information to management by assembling and summarizing data, preparing reports, making presentations of findings, analyses, and recommendations.
Senior Financial Accountant
Al-Khair Group of Companies Ltd
01.2008 - 06.2012
- Assist senior manager in preparing monthly management accounts & publishing of accounts
- Assist senior manager in statutory audit & their preparation (interim & final)
- Timely closure and reporting of management accounting books on a monthly basis for all the region legal entities and provision of monthly management information to all Business Unit managers within the reporting units
- Review payable reports including reconciliation of payable accruals along with inventory
- Contribute to continual process improvements to develop and streamline existing processes and to ensure smooth closing of monthly books of accounts & all necessary JVs are being posted to respective ledgers
- Maintain & review the accruals & provision movement, and make sure these are correctly reflecting the books of accounts during month end closing
- Prepare & analyzing the operational cash flow to senior management
- Analyze customer financial statements to develop a credit line for customer
- Developed comprehensive understanding of business and operations as well as accounting and internal control system identifying risk areas during the process
- Supervise the input and handling of financial data and reports for the company's automated financial systems
- Review of financial statements along with senior management to ensure their compliance with requirements of local laws, Regulation and International Financial Reporting Framework (IFRS)
- Manage Reimbursement of petty cash voucher & medical, and generate the quarterly reports to provide management for their comparative analysis of expenses trend.
Education
ACCA - Accounting And Finance
01.2023
The ACCA Qualification is the world leading accountancy qualification for aspiring financial professionals - providing students with the skills, knowledge and values to have successful careers and lead the organisations they work with into the future.
Certificate in Public Finance Managment - Public Finance
09.2021
CAT - Accounting Technician
03.2010
ACCA has retained the Certified Accounting Technician (CAT) Qualification as part of the foundation level qualifications.
Masters in Commerce - Accounting And Finance
02.2008
Bachelors of Commerce - Accounting And Finance
08.2006
Skills
- Financial modeling, analysis, management reporting and financial management
- Budgeting, variance analysis, reasoning and executive summaries preparation
- IRFS & GAAP reporting adjustment experience
- Working Capital Management (Cash flow, Accounts Receivables, Inventory)
- Value added tax (VAT) , WHT (With Holding Tax)computation filing and audit
- Risk Management experience in negotiating insurance policies
- Internal Controls Evaluation & Risk assessment
- ITC (International Trade Compliance) laws & understanding about customs Imports, Exports
- KPIs and Performance evaluation
- Excellent communication skills with Very good analytical skills
- Ability to lead a team and work with team as well
- Excellent business acumen with excellent project management skills
- MS-office (Word, Excel, Power point)
- SAP S4/Hana ECC, BI, CRM, Oracle R12 Clouds, HRMS
Accomplishments
- Reduce company cost by implementing the Cost Control tool in CRM for large projects with public sectors.
- Lead project of tax E-Invoicing in Saudi Arabia & successfully implement in the entity
Affiliations
2017 –Association of Chartered Certified Accountants (ACCA)
2019 –Member of SOCPA (Saudi organization of Certified Public Accountant)
2011 – Certified Accounting Technician (ACCA)
Certification
Certificate in Public Financial Management
ACCA - CAT
ACCA
GAAP - IFRS
Languages
English
Advanced (C1)
Urdu
Bilingual or Proficient (C2)
Arabic
Intermediate (B1)
Timeline
FP&A Manager - CARRIER CORPORATION
10.2018 - Current
Finance Manager - Zamil Industrial Investment Company
09.2013 - 08.2018
Financial & Credit Analyst - H.M AL, MUZAIN Cont. Est
08.2012 - 09.2013
Senior Financial Accountant - Al-Khair Group of Companies Ltd
01.2008 - 06.2012
ACCA - ACCA, Accounting And Finance
ACCA - Certificate in Public Finance Managment, Public Finance
ACCA - CAT, Accounting Technician
University of The Punjab - Masters in Commerce, Accounting And Finance
Univeristy of The Punjab - Bachelors of Commerce, Accounting And Finance
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