Fahid Iftikhar

Team Strength: 20 - Directly Reporting: 10

• Managed Administrative, Accounting & Security affairs of Organization

Team Strength: 05 – Directly Reporting: 03

• Team Leader of business unit’s accounting, reporting & budgeting team. Responsible for controlling all activities of Business Units Financial team and ensuring that activities are carried out efficiently, effectively and in line with best practice
• Utilized cost estimation systems to document project information, create estimates and revise project costs to reflect current data.
• Calculated correct costs for project-specific goods and services by gathering information from team members, sub-contractors and vendors.
• Conducted special studies to develop and establish standard hour and related cost data or to effect cost reduction.
• Determined project objectives, budgets and schedules by coordinating with clients and teammates and optimized plans to meet changing conditions.
• Prepared estimates used by management for purposes such as planning, organizing and scheduling work.
• Collected historical cost data to estimate costs for current or future products.

Team Strength: 05 – Directly Reporting: 02

• Part of business unit’s accounting team, assisting in reporting & controlling activities and ensuring that are carried out efficiently, effectively and in line with best practice.

Contractual Compliance

• Reviewing commercial and financial terms of contracts. Jointly with PMG, ensures compliance to financial terms
• Verify all project invoices and ensure timely submission of invoices as defined and agreed in contract. And ensuring timely issuance of bank guarantees, performance bonds and Insurances as per contract terms
• Reporting any deviations from contractual terms to Company FC
• Jointly with PMG and Receivables department, ensuring follow up and timely collection against project receivables
• Timely report and update in ERP for variation orders, time extensions, liquidated damages, Claims etc. Finalize revenue, cost and profitability impact due to such developments with PMG

Planning & Budgeting

• Developing revenue and profit targets with BU Manager
• Reviewing and analyzing BU resource plan for Manpower and Equipment
• Developing and finalization of Latest Forecasts, Annual Budget of business unit with PMG and BU Head
• Reviewing, analyzing & validating project bids, project budgets and balance cost to complete
• Analyzing physical progress monitoring mechanism and cost relationship
• Responsible for compliance to Financial Authority Matrix and report any deviations

Budgetary Control

• Monitoring budget utilization at project, BU and transaction level
• Verifying and ensuring in all systems accuracy of budgeted figures
• Ensure that all budgets are duly approved as per financial authority matrix
• Variance reporting with explanations and reasoning i.e., analysis of actual versus budget
• Develop project close out procedures & ensuring project close out in all respects

Reporting, Revenue, Cost and Profit Recognition

• Maintaining work order status on regular basis
• Accurately projected monthly cash expenditures through efficient budgeting and detailed document reviews.
• Actively involved in revenue, cost and profit recognition process
• Responsible for calculation of project wise revenue
• Validating accuracy of recognized revenue and costs
• Responsible for ensuring compliance to IFRS and company policy of revenue recognition
• Monitoring correctness and accuracy of accounting and accounting system. Report any deviation to FM
• Responsible for submission of monthly cost accruals with relevant supports from PMG
• Reviewing and verifying all cost bookings for business unit
• Analyzing cost ledgers and rectifying accounting errors
• Developing standard reporting formats which can be easily consolidated at company level
• Developing financial and non-financial measures of performance with PMG

Representative of Business Unit

• Responsible for representing business unit at all levels, internally and externally. Give explanations to management for all financial and accounting matters of business unit
• Improve understanding of non-finance PMG staff about financial planning and reporting
• Conduct financial training sessions

Compliance to Company Policies and Internal Controls

• Ensure compliance to company policies, procedures and internal controls. Highlight weaknesses of prevailing control environment
• Develop and improve established internal controls, policies and procedures

Team strength: 08 Direct Reports: 02

• Review invoices and check requests
• Applied proper codes to invoices, files and receipts to keep records organized and easily searchable.
• Sort and match invoices and check requests
• Set invoices up for payment
• Process check requests
• Entered invoices requiring payment and disbursed amounts via check, electronic transfer or bank draft.
• Verified vendor accounts by reconciling monthly statements and related transactions.
• Prepare analysis of accounts
• Monitor accounts to ensure payments are up to date
• Resolve invoice discrepancies
• Kept vendor files accurate and up-to-date to expedite payment processing.
• Maintained relationships with vendors and managed invoices for material & services.
• Generated accounts payable reports for management review to aid in financial and business decision making.
• Utilized talents and expertise to complete on-time and accurate monthly closing processes, journal entries and accruals.
• Trained and mentored new team members and managers on accounts payable systems and policies to build cohesive groups and promote operational performance.