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OWAIS AHMED, Financial Controller / Finance Manager (FCA, FCCA-UK, MA in Economics) Pakistan

Contact details
Email : ‘owais.ahmed.oa@gmail.com
Profile summary
Internationally experienced senior finance professional with 17 years comprehensive
Skype : ‘owais.ahmed.oa
experience in 5 countries (Pakistan, Bahrain, UAE, KSA and Switzerland). Demonstrated
analytical, strategic and tactical planning skills and gained valuable experience through
Cell : +92 324 2757944 (PAK)
participation in the BOD & management meetings and strategic decisions. Served a key role
in new initiatives & digital transformation, ERP implementation & integration, joint venture
https://www.linkedin.com/in/owais- formation and product development
ahmed-2955b514/

Qualification: Core skills:

Chartered Certified
Accountant (FCCA), 2016
Association of Chartered
Certified Accountants, UK
Chartered Accountant
(FCA), 2011
Institute of Chartered
Accountants of Pakistan
(ICAP)
Master of Arts in
Economics, 2005
University of Karachi
- Finance & Controlling
- Budgeting & Planning
- Rolling forecast
- Financial analysis
- IAS / IFRS, US GAAP
- Costing & variance analysis
- Treasury & Forex
- Trade financing (LC,
Guarantee etc.)
- Project controlling &
reporting
- Claim management
- Team building
- Financial Modelling
- Mergers, Acquisition,
Divestiture, Spin-off /
carve-out, Corporate Exit
& Restructuring
- Enterprise valuation
- Financial structuring
- Joint venture
- Compliance
- Intermediary Due
Diligence
- Export Control
- Product development
- Discounted Cash Flow
- Digital transformation
- Investment & fund
management
- Internal controls
- Procurement & Logistics
- Vendor management
- Zero Based Budgeting
- Pricing
- Capital expenditure
(CAPEX) budgeting &
controlling
- Structured Asset Finance
- Transfer pricing
- Taxation & VAT
- License renewal

Key Achievements & Responsibilities during the career

Salaam Takaful Limited – (Karachi, Lahore and Islamabad, Pakistan) Feb 2022 to Feb 2023
A public company incorporated in Pakistan engaged in Shariah compliant insurance (general), tele-healthcare, fintech/insurtech and real
estate. Major shareholders include Al-Baraka Bank, Mal Al-Khaleej Investments LLC, House Building Finance Corp. and few HNWI
Financial Controller reporting to the CFO. Main responsibilities include working on strategic projects and initiatives including
the launch of new product lines, new business, digital transformation, potential mergers & acquisitions, Employee Share
Option Scheme (ESOS), preference shares with conversion option, fundraising/listing and leading the IFRS-17
implementation in the company.

Key achievements and responsibilities are as follows

- Finance & controlling, planning & budgeting and investment management related to the statutory funds of the legal
entity and Participant Takaful Fund (PTF). Also responsible to plan, project and maintain the statutory requirements
including the solvency, minimum capital and capital adequacy
- Leading the treasury and fund management function of the statutory funds.
- Performance review of all product portfolios in terms of profitability, cash flow and non-financial indicators and advisory
for improvement and digitalization
- Managing the investment and treasury management function of the company
- Content writing for annual report, financial policies and other financial publications. Annual report got the award of
second-best corporate report from joint committee of ICAP and ICMAP in insurance sector.
- Incorporation of subsidiary “Salaam Properties” engaged in investment in real estate. Completed the financial
modelling and business plan for the subsidiary. Lead the financial activities for the subsidiary
- Financing of the property purchased against the mortgage / charge on property. Transaction structuring for financing
ensuring compliance with solvency and capital adequacy requirements.
- Incorporation of subsidiary “Salaam Family Takaful” to be engaged in life insurance. Engaged in financial modelling,
business planning, ERP system implementation and license application for the company.
- Leading the set-up of operational and reporting procedures for receipt of contributions & premiums and payment of
claims and surrender of policies in a full digital mode. Entering into agreements and relationships with banks, financial
institution, e-wallets and payment solutions providers to support digitalization
- Leading the set-up of treasury and investment management function of life insurance including the investment policy
- Financial accounting & reporting procedures for products and statutory funds for the unit-linked, participative and
investment funds and calculation of Net Asset Value (NAV) on daily basis ensuring compliance with Insurance statutes
and incorporating requirements for IFRS-17
- Planning to build the investment portfolio as per the approved policy / fund’s mandate
- Jointly engaged in due diligence of various ERP system to be selected for life insurance company
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OWAIS AHMED, Financial Controller / Finance Manager (FCA, FCCA-UK, MA in Economics) Pakistan

Milvik – (Lahore, Pakistan) Jul 2020 to Nov 2021

A company incorporated in Sweden engaged in digital insurance, tele-healthcare, fintech, brokerage and financial services sector
Served as Finance Manager with reporting to CEO of the legal entity and a dotted line to the Regional Finance Manager in
UK (matrix structure organization). Lead the finance (5 employees) function in the legal entity. The entity is a subsidiary of
Milvik AB, Sweden and registered as insurance broker with SECP. Key achievements during the tenure are as follows
- Delivered the rolling forecast, estimate for year and budget for the COVID and post COVID era with the supporting
reasoning and analysis with original numbers and with a zero-based budgeting view
- Prepared and delivered 3-year forecast as a single legal entity and impact under various scenarios under discussion
- Arranged short term loan / overdraft facility through a local bank to avoid borrowing from parent company
- Supported the operations team in roll out of new product and giving the support on financial, tax and statutory aspect
- Team building. Inducted new resources to replace outsourced accountants (external contractor employee)
- Managed the team and worked remotely. Conducted and participated in meetings on zoom, skype and MS teams
- Forecasted the equity injection required to maintain the minimum capital requirements and solvency
- License renewal from SECP (insurance broker license), PTA (call center & UAN number) and PSEB (for IT services)
- Lead the implementation of IFRS-16 in the legal entity
Sulzer – (Legal entities in Saudi Arabia, UAE, Bahrain and Switzerland) May 2012 to Jan 2020
A company incorporated in Switzerland and listed on the Swiss Stock Exchange engaged in heavy industry, machinery, engineering and
construction sector.
Served as Financial Controller – MENA region (legal entities in Bahrain, UAE, Saudi Arabia and Switzerland) with reporting
to BU Controller in Switzerland and dotted reporting to the GM of the region. Served in legal entities engaged in Engineering
Procurement & Construction (EPC) contracts, Repairs & maintenance contracts, Field service contracts, manufacturing &
trading of equipment (Chemtech and Pumps, now flow equipment). Key achievements during the tenure are as follows
- Implemented Zero Based Budgeting post-carve out and addition of new business in field services unit.
- Prepared the standalone budgets and forecasts for the new business with analysis on risks and opportunities
- Optimized the controlling & reporting of EPC projects and successful close out including one of the largest projects
worth USD 155M over a period of 3 years.
- Recognized cost and revenue on Revenue over time (Percentage of Completion - POC) method with estimation of Cost
to Complete (CTC) as per IFRS-15 and total cost for the project. Delivered the Rolling forecast (RFC) for the project
every month with consequent impact on profit and loss (P&L) and cash flow (CF).
- Commercial Project Management (CPM) for the EPC projects business. Monitored the cost against the budgeted and
revised cost and recommended to Project Managers on cost control, cost escalation and potential claims to customer
- Delivered the Rolling forecast (RFC) at the legal entity level and for the project every month with consequent impact on
profit and loss (P&L) and cash flow (CF).
- Financial modelling for the project to support decision making and assess the impact under various scenarios
- Monitoring of corporate and bank guarantees in the region (to customers and from subcontractors and vendors)
- Claim management and negotiation with subcontractors and customers. Brought down the claim of vendors by 15-20%
- Reviewing the progress against the contractual deadlines and elimination/minimization of possible LDs
- Part of the team who managed the carve-out / spin-off and corporate exit from the EPC business.
- Part of the team who successfully implemented SAP in the region
- Part of team that split / spin-off the Middle East operations & reporting into geographical segments for the formation
of joint venture (JV) with local partner
- Part of the team who did the due diligence of a target legal entity for acquisition
- Lead the post-acquisition integration of the newly acquired entity into the group reporting & performance
management framework. Modified business processes and implemented the internal controls including the ICFR
reporting and review in a newly acquired entity
- Established the Compliance and Export Control functions from the scratch with the help of Divisional Compliance
Officer and Divisional Export Controller.
- Implemented the ICFR reporting and review in legal entities in Bahrain and Saudi Arabia
- Recommended to implement a tier II ERP (EPICOR) instead of SAP to save the implementation cost.
Atlas Honda Limited - (Karachi and Lahore) Dec 2009 to Apr 2012
A subsidiary of Honda Motor Company, Japan and listed on Pakistan Stock Exchange engaged in automotive sector
Served as Assistant Manager / Section Manager
Lead the workgroup for taxation. Filed the income tax and sales tax returns without any delay and got the tax audit cleared
without any significant issue. Presented the company at various business, tax and appellate forums
‘A. F. Ferguson & Co. - a member firm of PWC in Pakistan Dec 2004 to Oct 2009
Served as Supervising Senior / Audit Senior / Auditor
Remained involved in audit & assurance and taxation assignments of various companies.
IT Proficiency: MS Office and related products. User level knowledge of ERP (SAP, EXACT, Workday). Limited knowledge of
ERP (QuickBooks and SAGE)

Personal DOB: 6 Aug 1982 Nationality: Pakistan Languages: English Availability: Immediate
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OWAIS AHMED, Financial Controller / Finance Manager (FCA, FCCA-UK, MA in Economics) Pakistan