Tauseef Ullah (ACA)

Experience

• 

  KPMG

  Sept 2008 - Oct 2012

  I was engaged in Risk Assessment, Business Process Re-engineering and Gap Analysis of key business activities i.e. procurement, inventory management, production & costing, financial reporting, planning & budgeting etc.- Preparing internal audit reports highlighting gaps and control weaknesses in business processes along with its implications and devising recommendations- Checking compliance with established policies, procedures and internal regulations- Carrying out a review of Critical Success Factors for organization- Evaluating adequacy and application of procedures and controls in the relevant business process and their prioritization based on their type and significance- Developing risk profile including identification of business objectives, associated risks, mapping of control activities with identified risks, identification of gaps and bench-marking of control activities- Establishing understanding and documentation of as-is process and sub processes Show less I was involved in various assignments including full scope audit, risk advisory services, limitedcompliance reviews and special certifications.- Initial job planning, risk assessment, identification of control risk and key risky areas- Scheduling of audit programs and ensuring timely completion of audits using KPMG Audit Methodology and e-Audit software- Application of audit procedures to evaluate internal control system and obtain sufficient appropriate audit evidence to base opinion- Extensive application of the International Financial Reporting Standards (IFRS’s) and preparation of financial statements in compliance therewith and Companies Ordinance- Preparation of client deliverable and reports including management letter (ML), identifying control weaknesses, its risk implications and recommendations- Reviewing compliance with applicable legislatures including Companies Ordinance 1984, Code of Corporate Governance, Stock Exchange Listing Regulations etc.- Analysis and reviews of financial results and tax returns- On behalf of KPMG, my significant corporate clients were: - MCB Bank Ltd - Allied Bank Ltd - ICI Pakistan Ltd - Sefam (Pvt.) Ltd - Reliance Weaving Mills Ltd - Ferozsons Laboratories Ltd - Sarena Industries & Embroidery Mills Pvt. Ltd - Presson Descon International Pvt. Ltd.From 2009-11, I was also involved on assignment of conducting Special Review of MCB Bank's Internal Control Programme related to ICFR (Internal Controls over Financial Reporting) derived from SOX compliance and statutory requirements. In-depth process reviews were conducted to evaluate existing controls and Risk Control Matrix (RCM). Long Form Report was issued under State Bank of Pakistan instructions entailing gaps in methodology of identification of gaps in bank's system, gaps in Testing Plans and Remediation Plans. Show less

  • Risk Management Supervisor

    May 2012 - Oct 2012

  • Audit Senior - Audit & Assurance

    Sept 2008 - May 2012
• 

  Paramount Spinning Mills Limited (Gulistan Cooperation)

  Apr 2013 - Jun 2013

  Deputy Manager - Accounts

  My responsibilities in Paramount Spinning Mills Ltd, part of one of the largest Textile Groups (Gulistan) were:- Preparing cash flow projections to assist in arranging debt financing- Supervising day to day accounting operations of company regarding funds flow management and its recording- Managing investment portfolio of the sponsors and their family members- Reviewing reconciliations of intra-group balances and balances with directors and taking necessary steps to resolve differences identified- Formulating SOPs (Standard Operating Procedures) for various functions i.e. Sales Tax Refund, Treasury Operations, Procurement etc. against industry best practices- Establishing KPIs in light with current requirements to maintain efficiency- Coordinating with consultant for resolution of queries pertaining to accounting application Show less

• 

  Allied Bank Limited

  Jun 2013 - May 2018

  With over 1,350 branches and long term and short credit ratings of AAA and A1+ respectively,Allied Bank Limited is one of the leading commercial banks of Pakistan.- Supervising day-to-day processing of invoices for CAPEX and OPEX payments- Managing and monitoring budgets of all CAPEX items through effective inter-departmentalcoordination- Supervising activities related to RFPs in accordance with bank's prescribed procedure- Processing periodic pre-qualification of vendors against evaluation criteria- On the back of critical review of existing purchase activities, drafting Procurement Policy to ensure procurement is based upon value for money- Negotiating best procurement package in terms of quality, price, delivery & services- Reviewing certain monthly expense statements and highlighting unjustified variances- Preparing and negotiating proposal on bank's insurance policies in light of insurance cover,risks covered, claims lodged, premium paid, loss ratio etc. Show less - Revising bank's existing Compliance Policies and Procedural Manuals to formulate structured and directional Compliance Risk Program that can oversee compliance risks- Conducting comprehensive review of new/revised Policies, Procedure Manuals, Frameworks, Product Programs etc. submitted by Groups ensuring all regulatory and internal requirements are duly incorporated- Assessing adequacy of understanding provided by the Document on concerned subject and identify areas seeking further clarity and description- Reviewing draft proposals and Documents shared by Banker’s Association for providing feedback after methodical contemplation over document’s adequacy, suitability and consistency- Coordinating with Document Owner to address unresolved matters and finalizing the Document for sign-off by relevant approving authorities.- Evaluating effectiveness and efficiency of existing methods, procedures, processes and tools deployed by Compliance Function for identification, assessment and measurement of compliance risks- Reviewing likelihood and impact of risk event over bank’s compliance risk profile and the risk mitigation plans to eliminate control deficiencies Show less - Post-facto Credit Analysis of Corporate Relationships to give view on associated credit risk including conduct of account, facility structure, sponsor credentials & security risk- Conducting in-depth financial evaluation of borrower to assess its financial health- Evaluating cash flows and liquidity risk to gauge borrower’s repaying capacity- Performing Portfolio Review of corporate sectors including textile, fertilizer, cement etc.- Analyses of borrower’s business risk in congruence with industry risk- Quarterly review of Capital Adequacy Ratio (CAR) Statement and Capital Calculation in light of BASEL III and BASEL II capital accord- Exercising Project Financing review- Quarterly review of bank's financials for onward submission to Audit Committee & BOD- Periodic review of Internal Capital Adequacy Assessment Process, Stress Testing, Financial Spreads, Working Capital Assessment Model, Enterprise Risk etc.- Evaluating credit approval and risk assessment processes so as to identify major deviations from the regulatory requirements, internal policies and procedures- Evaluating post sanctions supervision mechanism i.e. post disbursement credit monitoring Show less

  • Manager Payments/Budget

    Feb 2018 - May 2018

  • Manager Compliance Risk

    Aug 2017 - Feb 2018

  • Senior Credit Risk Reviewer

    Jun 2013 - Aug 2017
• 

  Tadika Cahaya Sdn Bhd

  May 2018 - Oct 2020

  HOD Finance - South East Asia

  A foreign subsidiary of 'The City Group' where I was performing following in capacity of HOD -Finance & Accounts of South East Asian operations (Malaysia, Philippines and Indonesia):- Finalizing monthly and annual financial statements (standalone as well as consolidated)- Taken several initiatives including implementation of ERP Solution, online banking, digital marketing, petty cash handling, zero based budgeting, head-wise budgets allocation and regular monitoring, fee collection mechanism, staff restructuring etc.- Conducting periodic branch-wise financial analysis to monitor performance- Devising strategic plans for business growth and exploring business opportunities in Malaysia, Philippines and Indonesia for horizontal acquisition and expansion- Preparation of formal Business Plan encompassing business requirement analysis, market overview, demographic factors and SWOT for proposed acquisition projects- Managing corporate affairs including branch licenses, Ministry of Education approvals, taxation matters and dealing with relevant authorities- Developing marketing strategies for brand building and improvement in fresh enrolments - Cash flows management through streamlining operations and close liaison with banks Show less

• 

  The City Group

  Oct 2020 - Feb 2022

  HOD Finance - Central Region

  Annual turnover of $71.7mln & operations spread over Pakistan, Dubai, Malaysia, Philippines, Saudi Arabia etc. Group has interests in construction (Shalimar Construction Pvt. Ltd), manufacturing & trading (Premier Realities Pvt. Ltd), investment house (Engen Pvt. Ltd), education (The City School), franchise business (The Smart School), design (Ideal Creations Pvt. Ltd.) etc.- Managing and overseeing daily activities of Finance & Accounts stretched over 45 plus locations including billings, payroll, payments, funds management, PF etc.- Reviewing and closing monthly accounts for entire region- Identification and implementation of profit optimization measures by generating multiple revenue streams and controlling cost through efficient resource planning- Devising strategies for recuperation of loss making units- Developing and managing budgets and periodic forecasts driven by initiatives towards achievement of strategic plans- Development of financial feasibility to assess the viability of proposed projects- Implemented cross functional team work between Finance and Operations to ensure strategies are accomplished- Taking measures to achieve service excellence through enhanced efficiency of Oracle, smooth integration between Oracle and bank's applications etc.- Formulation & subsequent implementation of comprehensive Financial Operational Manual reporting policies, activity flows, authority matrices, responsibilities, timelines Show less

• 

  Outfitters Stores

  Feb 2022 - Nov 2023

  Senior Manager Finance & Accounts
• 

  Gourmet Pakistan

  Nov 2023 - now

  GM Accounts and Finance