Omar Safdar

Experience

• 

  Other Major Postings & Assignments

  Jan 1993 - Jan 2003

  Various Positions

  1. Manager Finance Al Shifa Trust Eye Hospital, Rawalpindi. Jun 2000 – Mar 2002Trust Hospitals in Rawalpindi, Sukkur and Muzaffarabad. Reporting to Chairman.2. Sept 1993 - May 2000 Various Companies in USA (Audit Firm/Manufacturing Industry)

• 

  KPMG

  Dec 2003 - Jul 2004

  Management Accountant

  Working in the back office of EnPointe Technologies Inc. USA,• Conducted variance analysis to identify areas of improvement and cost efficiencies, leading to enhanced profitability.• Played a key role in budgeting and forecasting processes, providing accurate financial projections and strategic insights.• Implemented a new management reporting system, improving the timeliness and accuracy of financial information for decision-making.

• 

  Siemens Shared Services, Siemens PLC UK

  Nov 2004 - Jan 2005

  Budgeting Officer

  Worked for Siemens Shares Services, a subsidiary of Siemens PLC UK as Budgeting officer while completing my MSc in Internal Audit and Management. Performed verification tasks on existing budgets ensuring accuracy of methodology and figures.

• 

  Siemens Business Services, Siemens PLC UK

  Jan 2005 - Jul 2005

  Compliance Officer

  Working at the European head office in the Siemens Shared Services Company as a contract position during my studies and reporting to Senior Manager, I was responsible for review, audit and implementation of SOX compliance mechanism adopted by the Company. Conducting audit of over ten locations, I corrected processes and implemented Internal Control mechanism which resulted in savings and reduction of time of reporting to management.• Responsible for review, audit and implementation of SOX compliance mechanism adopted by Siemens Shared Services Division. Conducting audit of over five locations. • Corrected processes and implemented Internal Control mechanism which resulted in savings and reduction of time of reporting to management. • Collaborated with multifaced teams to address compliance issues proactively and mitigate risks Show less

• 

  SITA, UK

  Jul 2005 - Feb 2007

  Accountant

  SITA is the world's leading specialist in air transport communications and information technology. • Premier Airline Communications Company• Leading a team of ten, looked after the overall reporting for SITA INC, SITA BV (British Version Islands) and SITA NV.• Successfully lead the first time conversion of financial statements from UK GAAP to IFRS.• Additional responsibility of Head of the Group’s joint venture with Champ Cargo Systems, Luxemburg. Coordination with the CEO of Champ Cargo Systems, I had overall supervision of the venture looking after the logistical and operations aspects.• Reduced month-end closing time by implementing automation techniques, improving accuracy and timeliness of financial reporting.• Identified cost-saving opportunities through detailed analysis of expenses and recommended strategies resulting in 15% reduction in overhead costs.• Developed and implemented internal controls, reducing the risk of errors and fraud within the organization.• Provided valuable financial insights to management through detailed analysis of financial data, aiding in strategic decision-making.• Played a key role in the preparation and presentation of financial statements to stakeholders, ensuring compliance with accounting standards.• Resolved complex accounting issues by researching and applying relevant accounting principles and regulations.As an additional responsibility of Head of the Group’s joint venture with Champ Cargo Systems, Luxemburg, my responsibilities included overall supervision of the venture looking after the logistical and operations aspects which resulted in overall savings amounting to half a million pounds through effective and efficient restructuring and management of resources. Show less

• 

  Ovex Technologies, Pakistan

  Mar 2007 - Sept 2009

  Assistant Financial Controller

  • Back office of US based IT Services listed company.• Successfully led the implementation of new accounting standards and regulatory changes, ensuring compliance and accurate financial reporting.• Prepared Statutory filing documents along with Annual report for SEC USA.• Developed and implemented comprehensive change management processes to facilitate smooth transitions during organizational changes.• Led collaborative teams in executing process improvement initiatives, resulting in increased efficiency and effectiveness of financial operations.• Designed and implemented robust compliance programs, mitigating risks and ensuring adherence to relevant laws and regulations.• Conducted regular risk assessments to identify potential areas of non-compliance and implemented controls to mitigate risks.• Played a key role in driving strategic initiatives to optimize financial performance and enhance business processes.• Performed departmental assessments with the view of downsizing/ outsourcing activities, resulting in savings of over half a million US Dollars. • Established strong relationships with internal and external stakeholders, fostering collaboration and alignment on compliance and change initiatives.• Provided leadership and guidance to team members, fostering a culture of accountability, innovation, and continuous improvement.• Acted as a trusted advisor to senior management, providing insights and recommendations on financial and compliance matters to support decision-making and strategic planning. Show less

• 

  En Pointe Technologies, USA

  Jun 2008 - Sept 2008

  SOX Financial Auditor

  • Spearheaded the successful implementation of Sarbanes-Oxley (SOX) compliance programs ensuring adherence to regulatory requirements.• Conducted thorough risk assessments and gap analyses to identify areas of non-compliance and control weaknesses.• Developed and executed detailed testing plans to evaluate the effectiveness of internal controls over financial reporting.• Provided actionable recommendations to management for remediation of control deficiencies, resulting in strengthened internal controls and improved compliance posture.• Collaborated with cross-functional teams to streamline processes and documentation related to SOX compliance, reducing audit preparation time and costs.• Facilitated training sessions to educate stakeholders on SOX requirements and best practices, enhancing overall awareness and accountability.• Established strong relationships with key stakeholders fostering a collaborative and proactive compliance culture.Due to my excellent management and leadership skills, I was appointed to lead the SOX team for implementation and audit of the entire Company with a team of IT, Operations and Finance experts. I managed to implement and present the audit report in record time to management well before the deadline of SEC report filings. As a special assignment by CEO, I performed a complete departmental analysis across the Company and reported my findings which led to the restructuring of the entire Company. Show less

• 

  Bahria University

  Sept 2009 - Dec 2012

  Visiting Faculty Management Sciences

  Graduate School. Financial Risk Management.

• 

  National ICT R&D Fund (Ministry of IT)

  Jan 2010 - Jan 2016

  Manager Internal Audit (Chief Internal Auditor)

  As its Chief Internal Auditor, I am in charge of reviewing and auditing the following in addition to Compliance related tasks.AUDITING- over 100 Technical R&D Projects and Scientific Conferences,- 31 Universities with (approx) 4600 student scholarships including PSDP funding with PC1.- Final Year Projects (436) of students of 75 universities- Other HRD related projects, events and workshops.- Conducting of special investigative audits.- Management of Audit and settlement of Audit Para’s by Auditor General of Pakistan (PT&T Wing)COMPLIANCE- Provide advice to management in compliance of various rules and regulations relating to the Fund.- Compliance with Code of Corporate Governance 2013 of SECP PakistanReporting to the Audit Committee Chairman, I established the Internal Audit function in the Company. As Head of the Internal Audit Directorate I have made major contributions to the turnaround of the organization including value addition resulting in achieving efficiency and effectiveness in various processes and controls.• Implemented a risk-based audit approach, enhancing the effectiveness and efficiency of the internal audit function.• Developed and executed a strategic audit plan aligned with organizational objectives and emerging risks.• Led cross-functional audit teams in conducting comprehensive financial, operational, and compliance audits.• Identified process inefficiencies and control gaps, recommending and implementing solutions to mitigate risks.• Established strong relationships with senior management and the board of directors, providing valuable insights and recommendations to enhance governance and decision-making.• Enhanced audit methodologies and tools, incorporating data analytics and technology to improve audit coverage and insights.• Successfully handled government audits and effectively managed to clear audit objections in Departmental Audit Committees headed by Secretary of the Ministry and DG Audit (GoP). Show less

• 

  DBM (Private) Limited

  Oct 2010 - now

  Managing Director

  Dedicated Business Management (DBM) has been in business since 2010 providing Financial and Management Consulting Services. We specialize in groups of small teams dedicated to each client. The idea of having a small team of professionals is to provide one on one personal service to the client under one roof without incurring any overheads or high billable rates. DBM is committed to the professional standards of competence, objectivity, and care with all the services we provide. DBM’s objective is to ensure that its competence and special expertise is delivered to its clients in response to their needs, and with maximum benefit to their business objectives. Finance, Accounting, Bookkeeping and Tax Consultancy. Fraud Detection, Prevention and Forensic Investigation Services. Additionally, we offer Anti Money Laundering and KYC Consultancy. Experts in SAP Implementation (SAP Hana and B1), US and Canadian TaxationFor more information, please contact Omar Safdar +92 311 3111041 Show less

• 

  National Highway Authority

  Jun 2016 - Sept 2017

  Consultant/Advisor

  • Successfully managed diverse investment portfolios, exceeding client expectations and achieving consistent returns.• Implemented innovative investment strategies to capitalize on market opportunities and mitigate risk.• Advised clients on complex financial matters such as asset allocation, diversification, and investment selection.• Conducted due diligence on large projects including review of forecasting and financial viability.• Acted as liaison between the Client and Deloitte as part of Internal audit Co-Sourcing Assignment and conducted audit of National Highway projects.• Conducted training of staff on new audit techniques and methodologies. Show less