HEAD OF PAYABLES
DRAGON OIL TURKMENISTAN LTD
Total years of experience :17 years, 11 Months
CORE COMPETENCIES
* Payable Management -Epic Construction & Drilling Contract Payments -Review And Interpretation Of
Commercial Terms And Conditions ~ AP Target & Performance Reporting
* Financial and Strategic Planning -Budget Development and Management ~ Cost Control & Reduction
* Inventory Management
* IT Skills - Identifying & Implementing System Enhancements ~ Improve Processes - ERP
* Cash Flow Management-P&L Management - Reconciliations -Variance Analysis -Audit Compliance
* Policies & Procedures ~Statutory Compliance
* General Ledger Consolidation ~Audit Coordination
* MIS and monthly reporting
* Month end and year end closing
* Team Leadership ~Mentoring ~Coaching
FUNCTIONAL SKILLS
Payable Management: Reviewing invoices to ensure that all the information appearing on them is accurate and complete. Verifying that payable transactions comply with financial policies and procedures. Processing transaction reports (aging, payment, etc.) after data entry. Monitoring accounts aging to ensure payments are up to date.. Preparing month-end account reconciliations of primarily cash, accrual and prepaid accounts. Settlement of vendor statements, research and corrections of discrepancies. Ensuring the confidentiality and security of all financial files. Review and initiate process changes to automate payable process to reduce cost and time and better financial control. Providing monthly AP MIS Reports to management.
Drilling / EPIC Project Contracts Payables: Reviewing and interpretation of EPIC Construction contracts / Drilling Service contracts for financial/commercial aspects and enforcing the payables as per contract agreement. Scrutinizing and verification of Service Tickets/Invoices Contracts rates, Interpretation of Contract terms. Monitoring AFE/budget and
provide necessary M)S )nformation’s. Coordination of Operation Department & Contractors to resolve payable related matters. Monitoring and provide timely inputs to management to assist cost control.
Finance & Accounts: Overseeing preparation of statutory books of Accounts, Fixed Asset Register, Bank Reconciliation, Interface account reconciliation of various ERP Modules. Handling financial statements including Trial Balance, Profit &
Loss A/c, Age-Wise Accounts Payables and Receivables Statements and Balance Sheets. Monitoring day to day bank transactions, bank reconciliation, inventory reconciliation, inventory management, invoicing and periodical bank
submissions. Ensuring financial closure of Accounts Payable Module in a timely manner.
Preparation of accruals for financial closure in terms of PSA agreement and Cost Recovery.Reviewing existing processes and defining new processes where required; ensuring that no audit queries were raised in the yearly audit.
Budgeting & MIS: Formulating annual budgets and conducting variance analysis to determine difference between projected & actual results and implementing corrective actions. Preparing the MIS reports, Cash & Fund Flow Statement,
Balance Sheet, Audit Reports and other financial reports to keep a track of financial performance.
Audits, Internal Controls and Taxation: Attending Statutory, Internal and Government audits; evaluating the internal
control systems with a view to highlight shortcomings & implementing recommendations made by Internal Auditors.
Payrolls: Monitoring employees travel advance for business and various expenses claims and recoveries.
Back charging of services and project costs: Recovery of services and costs which are not agreed in the contracts from the service contractors in terms of contract agreement.
System Integration: Review of existing system requirements and development of cost effective process controls. Review and implement system changes over as per business growth and requirements. Design and develop system and process to reduce cost and improve work efficiency
Highlights/Achievements Snapshots
Spearheaded the complete changeover of accounting system from GL based Sun Systems to Microsoft Great Plains
(ERP).
Played a pivotal role in shifting the Field accounting from Dubai to Turkmenistan as per PSA Agreement.
Trained the local employees to handle the accounting support.
Initiated various systems and process improvements to suite the new ERP environment.
Introduced new features related to Finance viz. Automated EFT payments, Integration of Pay Roll, and Intercompany Entries etc. as per the system development schedule prepared by management
Highlights/Achievements Snapshots
Set up the accounts department from scratch.
Developed &implemented systems for Production &Inventory Control, Sales Monitoring, and Personnel Management
etc.
Received Performance & Merit Award from Group GM (1999 &2000) for improving systems & controls of the
Company.
POST GRADUATE DIPLOMA IN FINANCE MANAGEMENT
Micro & Macro Ecnomics, Quantitative Analysis, Politics and Social Sicence.