AHSAN ILYAS

As the Deputy Chief Financial Officer, I am responsible for overseeing the financial operations of a Non Banking Islamic Financial Institution (having annual turnover of PKR 2Billion and more from 600 plus clients across the country), ensuring accuracy in annual (audited) financial statements, half yearly (reviewed) financial statements and quarterly financial reporting, and driving strategic financial initiatives in adding PKR 1billion long term term finance arrangement to support the company's growth in last one year. My key responsibilities include:

• Collaborated with senior leadership to develop long-term strategies for financial growth and sustainability;
• Developed comprehensive budget plans, ensuring alignment with organizational goals and strategic initiatives;
• Managing financial risks and ensuring compliance with regulatory requirements;
• Providing financial analysis and insights to support decision-making;
• Leading and mentoring the finance team to achieve high performance; and
• Facilitated cross-departmental communication regarding budgetary concerns, promoting a culture of transparency within the organization to drive financial performance and efficiency.

Key Skills:

• Strategic Financial Planning
• Budgeting and Forecasting
• Risk Management and Regulatory Compliance
• Leadership and Team Management
• Adaptability and Flexibility
• Continuous Learning

• As a Head of Internal Audit/ Internal Shariah auditor, I report directly to Chairman Board Audit Committee (an Independent Director in compliance of the requirement of Code of Corporate Governance) and indirectly to CEO. My major tasks are as follows:
• Verifying compliance with business processes and financial reporting with policies, laws, and regulations;
• Ensuring an integrated corporate governance approach throughout the organization;
• Maintaining a clearly structured reporting system, including company-wide analyses; and
• Providing support to optimize business processes and establish new guidelines.
• Key Achievements:
• Strengthened Internal Controls;
• Enhanced Audit Coverage;
• Implemented Technology-Driven Audit Solutions;
• Led Regulatory Compliance Initiative;
• Strategic Advisory and Risk Management Support.

• I have also worked as a Manager Finance and Accounts with reporting to CFO/ Company Secretary, my more than five and a half years of experience at this position has enabled me to develop a comprehensive understanding of Islamic Mode of Financing, Accounting for Islamic Products, Legal and Regulatory framework governing the Modaraba Sector in Pakistan, key business processes and accounting and internal control systems implemented within the entity.
• I was responsible for operational management, control of all financial and accounts activities including management reports and financial statements, budgets, forecasts, analysis of costs, pricing and internal controls and interaction with all the departments. Other responsibilities are mentioned below:
• Oversee management and financial accounting, budget development, tax planning and billing processes;
• Establish and implement accounting policies/procedures regarding the use of effective internal control systems and record retention (both legal/accounting) and tax for the Modaraba;
• Ensure legal and regulatory compliance regarding all finance functions;
• Proactive engagement with auditors, tax authorities and advisors;
• Provide training on Auto iBanker to users and act as a first point of contact after its implementation;
• Support and oversee month-end operational activities, such as reconciliations and accruals;
• Managing all tax compliances/ reporting and ensuring timely and accurate filing of all corporate tax and withholding tax returns;
• Liaising with tax authorities and providing tax audit support for the entity for corporate taxation and statutory payroll deductions;
• Providing internal tax advisory services and support on business operations;
• Applying for withholding tax exemptions and advising on form and content of inter-company agreements; and
• Coach the team to improve their skills and knowledge and help them work efficiently and effectively.
• Key Achievements:
• Implementation of Organization-wide application/ software;
• Successfully led and mentored finance reporting and operations team;
• Effective Cash Flow Management; and
• Streamlined Financial Processes.

• Company Overview: a member firm of PricewaterhouseCoopers
• I was associated with the Tax Department of the firm as Supervising Senior, where my responsibilities include:
• Preparation of annual income tax return and E-filing of income tax return, sales tax return, monthly statements and annual statement;
• Drafting client advises in collaboration with Manager and Partner along with preparation and filling of appeal documents;
• Reviewing of the assessment orders from tax department and drafting response to department; and
• Preparation of monthly Tax computation on salary income of General Manager and above staff of Karachi Electric and submission of monthly and annual statement of tax deduction under section 149 of Income Tax Ordinance, 2001.

• Company Overview: a member firm of PricewaterhouseCoopers
• I was associated with the Assurance and Risk Advisory department of the firm as Senior, where my responsibilities include:
• Leading engagement teams through the planning, execution, and completion stages of audits;
• Liaison with client's management and communication of relevant matters to personnel at appropriate level of responsibility;
• Assisting clients in preparation of financial statements in accordance with the applicable financial reporting framework.
• International Financial Reporting Standards, local corporate laws, and directives of regulatory authorities;
• Ensuring timely completion and submission of key deliverables to the client within agreed deadlines;
• Consultation on significant matters with various professionals such as lawyers, tax advisors and IT experts; and
• Establishing positive working environment by building solid relationships with team members, clients, and other stakeholders.
• Following are the most significant clients in various sectors and related engagements that have contributed towards my professional growth:
• ASSURANCE ENGAGEMENTS
• STATUTORY AUDITS AND OTHER REVIEW ENGAGEMENTS
• Banking and Capital Markets
• Askari Bank Limited
• KASB Bank Limited
• Citibank, N.A. – Pakistan Branches
• Capital Markets – Broker Dealers
• KASB Securities Limited
• IGI Finex Securities Limited
• Capital Markets – Broker Dealers
• HBL Stock Fund
• Reliance Income Fund
• General Insurance
• Adamjee Insurance Company Limited
• Internal Controls Advisory – SOX 404 Implementation in line with COSO Framework
• I was part of the team of External Consultants appointed by the Bank’s management, to provide Sarbanes Oxley Act and COSO advisory in accordance with the directives and requirements of the State Bank of Pakistan (SBP) on KASB Bank Limited and Habib Metropolitan Bank Limited. The services provided in this connection include the following:
• Identification and mapping of significant accounts & disclosures with the relevant financial statement assertions and relevant business processes/ cycles and sub-processes/ cycles as per requirements of PCAOB Auditing Standards;
• Development, review, and finalization of Mapping/ documentation of As-Is processes and controls in the form of flowcharts supported by narratives, where required;
• Review against benchmarks, identification and reporting of gaps and recommendations, development of Risk Control Matrices and To – Be documentation;
• Development of comprehensive Remediation Plan, detailing the projects/ initiatives required to rectify the gaps, project team structure, responsibilities assigned, and timelines for actions etc;
• Development of Management Testing Plan for testing of Key Controls and Implementation of project initiatives, as planned;
• Independent quality assurance/ validation on the initiatives completed; and
• Conduct of management testing (of key controls) and reporting of results to the respective Group/ Departmental Heads, Internal Audit and from Audit onwards to the Audit Committee.
• Agreed Upon Procedures / Other Special Engagements
• Reporting of Internal Control Memorandum related to review of operations of the branch network of KASB Bank Limited and Askari Bank Limited.
• Statement on Net Capital and Net Worth as required by National Commodity Exchange Limited and Karachi Stock Exchange Guarantee Limited.