Skill set (7)
Safvan in a few words
Results-Driven Finance and Insurance Professional with more than 12 years of experience in finance and insurance: ACCA Qualified, MBA in Finance, and a Proven Track Record of Success with Long-term Commitment
Experience
- Al Sagr National Insurance Company (ASNIC)Senior Finance OfficerDecember 2019 - Today (5 years)Dubai - United Arab Emirates• Conducted in-depth analysis of business unit performance, resulting in the development of strategies to improve profitability and mitigate risk.• Led the financial planning and analysis process, reducing the reporting cycle by 20% and improving the accuracy and relevance of financial reporting.• Developed and implemented policies and procedures to ensure effective internal controls, leading to improved financial reporting and compliance.• Coordinated with internal and statutory auditors to resolve accounting issues and complete audits in a timely manner.• Collaborate closely with corporate functions and business unit finance teams to set strategic direction, plan and forecast finances, and provide insightful financial analysis and reporting.• Conduct business performance analysis, risk assessment, and scenario/ sensitivity analysis across corporate business units to identify trends, opportunities, and risks.• Manage monthly operating expenses reporting and analysis, identifying key variances.• Work closely with business unit finance teams to understand business needs and ensure continuous improvement of reporting process, process efficiencies and effectiveness.• Manage financial reporting cycles, including management reporting, planning and budgeting, and forecasts.• Analyze actual and forecasted financial results, presenting findings to management and making recommendations for areas of improvement.• Continuously enhance and improve financial planning and analysis processes to support effective decision-making.• Prepare and analyze financial statements, segment-wise financial reports, and statements for management• Play a key role in the implementation of IFRS 17 projects and consult with internal and statutory auditors for resolving issues and timely completion of audits• Recommend and maintain a system of internal control, policies, and procedures that impose an adequate level of control over finance department.• Compute and file VAT returns.
- Al Sagr National Insurance Company (ASNIC)AccountantMarch 2016 - December 2019 (3 years and 9 months)Dubai - United Arab Emirates• Responsible for credit monitoring and approval, as well as preparing and analyzing the monthly budget and cash flow of the company• Addition and deletion of signatories, New bank accounts, coordinating the application forms for opening new accounts, and other ad hoc banking matters• Manage financial responsibilities, including recording all assets and liabilities entries, reconciling bank accounts and insurance accounts, and handling the company's receivables and payables.• Record and amortize leased assets in accordance with accounting standards and process staff salaries, commissions, tickets, and final settlements.• Maintain proper records of all fixed assets, including additions and disposals, in compliance with IAS 16• Involved in monthly revenue and cost analysis, providing branch-wise reports and presenting results to the CFO.• Reconcile Banks, FAC in, FAC out, and treaty accounts of the company, as well as process bank, vendor, and broker account adjustments.• Follow up with clients regarding their outstanding payments by sending them statements of account and aging reports, and prepare and process commission payments for sales staff.• Assist in both internal and final audits of the company.• Handle month-end closing and process accrual and prepayment adjustments.
- Al Sagr National Insurance Company (ASNIC)Junior AccountantMarch 2014 - March 2016 (2 years)Abu Dhabi - United Arab Emirates• Assisting with accounts payable and accounts receivable processes.• Maintaining financial records and ensuring they are accurate and up-to-date.• Preparing and processing journal entries and general ledger transactions.• Assisting with month-end and year-end closing procedures.• Collaborating with other departments within the company to gather information and ensure accurate financial reporting.• Maintaining an understanding of insurance industry accounting standards and regulations.• Maintaining confidentiality of sensitive financial information.• Adhering to company accounting policies and procedures.• Using accounting software and other tools to manage financial data.• Providing general administrative support to the finance department.
Recommendations
Education
- Master's degree, Accounting and FinanceACCA2022Master's degree, Accounting and Finance
- Master of BusinessVisvesvaraya Technological University2010Master of Business Administration - MBA, Accounting and Finance
- Master of BusinessThe Oxford College of Engineering2010Master of Business Administration (MBA), Finance and Financial Management Services