Farhad Ali

Financial Controller - Bin Otaiba Hotels, UAE
Dubai, United Arab Emirates UAE

Timeline

ABOUT

12 years+ experience with leading hospitality groups of (Hotels, Hotels Operator, Leasing, Facilities Management, standalone restaurants, Catering, Real Estate & development and Assets Management) in Middle East with an internationally recognized brands, excellent communication & leadership skills, self-motivated, energetic with passion to gain more diverse experience. Good knowledge of VAT, IFRS, UAE Stock Markets, Digital Currancies hospitality assets mangements by handling brands operting hotel in UK, approving VAT, CT , and Audit Filing for HMRC.

Basic Info

Industry: Hotels & Resorts

Department: Finance and Accounts

Job Level: Director

Job Role: Financial Controller

Nationality: Pakistan

Current City: Dubai

Current Country: United Arab Emirates UAE

Education Level: Post Graduation

Farhad Ali's Activity

Education

Certified Public Accountant (CPA)
January 2020 - August 2021

Institute of Public Accountant of Pakistan (ICPAP), Pakistan
MBA- Finance
September 2009 - July 2012

International Islamic University Islamabad, Pakistan
B.Com
November 2006 - April 2009

University of Peshawar, Pakistan

Certifications & Awards

Post Graduate Diploma in Public Accounting (PGDPA)
Institute Of Public Accountant Of Pakistan (ICPAP)
Advance Diploma in Public Accounting (ADPA)
Certified Public Accountant (CPA)
Certified Public Accountant (CPA)
Institure Of Public Accountants Of Pakistan(ICPAP)

Skills

SAP BUSINESS 1 PROLOGIC PROTEL ADACO Pre opening STORES AP AR PAYROLL PAYMENT GL ENTRY INTERNAL AUDIT INCOME AUDIT NIGHT AUDIT PETTY CASH PREPARING FS CONSOLIDATION PREPARING PL CONSOLIDATION PREPARING FINANCIALS PREPARING P & L POS SYMPONY FA SOFT SKY BAYAN PAYTRAX OPERA VISION OPERA FMC SUN SYSTEM & SUN VISION MONTHLY ACCOUNTS CLOSING PREPARING FINANCIALS VAT FILING AND RECONCILIATIONS

Experience

Financial Controller
2024 - Present (1 Year)

Bin Otaiba Hotels, UAE, United Kingdom
Assets Management Role for UK Properties:
Bin Otaiba Hotels a UAE based hospitality assets owner; we have 13 hotels in portfolio in assets management some iconic one is the Hyatt Regency Birmingham & Johannesburg. Hilton Durban, Radisson Blu, Bristol, Cardiff, Cape town, Park Inn Cardiff & Johan Johannesburg. Corniche hotel Sharjah & Abu Dhabi, Ramada Tangier & Fes (Morocco).
• Monitor the BVI, HMRC compliance, ESR compliance of the BVI companies with Vistra assistance.
• Monitor the ownership structure for the smooth flow of funds with EY and TMF assistance.
• Represent the owner for all UK entities in financial and operational matters in operator’s and owner’s meetings.
• Liaise with HMRC, land registry and company secretary for the all the legal compliance matters of the UK division of the BOIG.
• Analyse the daily revenues and report with preparation of summarized reports to the owner.
• Analyse the multiple owners’ reports received from the UK hotels and consolidation of the UK division report for the owner.
• Consolidate the P&L and report the UK division profitability to owner office.
• Review the monthly report and conducting the business review meeting with the units on behalf of the owner.
• Putting forward all the operational matters to the owner for review and approval after gathering necessary information with a suggestion and action.
• Review and analyse the Corporation tax return for the UK hotels.
• Making sure all the properties operation are smooth and keep the owner intact with information received from the units.
• Supervising all the operator and owner’s relation for the hotel properties.
• Visiting and the properties on a regular interval, to review and financial and operational matter along with owner.
• Monitoring the profits and cash flow matters.
• Advising on the re investment of the profits in the region to get the benefit of profit pools.
• Handling all the Capex, FEE and owner accounts matters of the property.

Operation In charge Task Force – Corniche Hotel Abu Dhabi (Oct, Nov, Dec) 2024

My Office is based in a hotel in Abu Dhabi, and assisting the owner team an hotel in charge for the property day to day operation.
Leading a team of hotel in operation, in a 320 room five-star Ex Millennium hotel.
have achieved 5 million of bottom line in 3 months, with a Average ADR of 400+, and 70-80% average Occupancy.

Achievements:

• Created a Group P&L to report the profits of all the 5 properties in Asset management function and one direct in control as FC.
• Worked as Hotel In charge of corniche hotel Sharjah for transition period of 3 months.
• Working on implementation of group structure with TMF and EY.
• Have started monthly meetings with operator’s, P&L Regular reviews for maximization of owner return.
• Fixing the issues of Arm length transactions, Audits, HMRC Timely filing.
• Implement a group level Capex approval and FFE improvement structure inline to comply with operator audits.
• Have implemented the property improvement plans.
• Have done the preopening of the Corniche Hotel Sharjah, have done CT and VAT Registration of the same,
• Conducting the financial audit for 2023.
• Have successfully assign all the audits on group level for UK division. And file the GAAS return in HMRC as per the new rule by HMRC in 2023.
• Converted all the operation/FFE Accounts into interest bearing account with a increase in owner profit in term of interest earning with £1.1 million/Year.
Financial Controller
2023 - 2024 (1 Year)

Bin Otaiba Hotels, United Arab Emirates UAE
Bin Otaiba Hotels a UAE based hospitality assets owner; we have 13 hotels in portfolio in assets management some iconic one is the Hyatt Regency Birmingham Johannesburg. Hilton Durban, Radisson Blu, Bristol, Cardiff, Cape town, Park Inn Cardiff Johan Johannesburg. Corniche hotel Sharjah Abu Dhabi, Ramada Tangier Fes (Morocco). br• Monitor the BVI, HMRC compliance, ESR compliance of the BVI companies with Vistra assistance. br• Monitor the ownership structure for the smooth flow of funds with EY and TMF assistance. br• Represent the owner for all UK entities in financial and operational matters in operator’s and owner’s meetings. br• Liaise with HMRC, land registry and company secretary for the all the legal compliance matters of the UK division of the BOIG. br• Analyse the daily revenues and report with preparation of summarized reports to the owner. br• Analyse the multiple owners’ reports received from the UK hotels and consolidation of the UK division report for the owner. br• Consolidate the PL and report the UK division profitability to owner office. br• Review the monthly report and conducting the business review meeting with the units on behalf of the owner. br• Putting forward all the operational matters to the owner for review and approval after gathering necessary information with a suggestion and action. br• Review and analyze the Corporation tax return for the UK hotels. br• Making sure all the properties operation are smooth and keep the owner intact with information received from the units. br• Supervising all the operator and owner’s relation for the hotel properties. br• Visiting and the properties on a regular interval, to review and financial and operational matter along with owner. br• Monitoring the profits and cash flow matters. br• Advising on the re investment of the profits in the region to get the benefit of profit pools. br• Handling all the Capex, FEE and owner accounts matters of the property. br brOperation In charge – Corniche Hotel Sharjah br brMy Office is based in a hotel in Sharjah, and assisting the owner team in operation as finance head for the property day to day operation. brLeading a team of 7 in operation, in a 259 room five-star Ex Hilton hotel. brImplemented the SOPs in hotel and have done the VAT, Corporate Tax registrations for the preopening property. brWorked as taskforce in charge in the property for 2 months in a transition of GM role. br brAchievements: br br• Created a Group PL to report the profits of all the 5 properties in Asset management function and one direct in control as FC. br• Worked as Hotel In charge of corniche hotel Sharjah for transition period of 3 months. br• Working on implementation of group structure with TMF and EY. br• Have started monthly meetings with operator’s, PL Regular reviews for maximization of owner return. br• Fixing the issues of Arm length transactions, Audits, HMRC Timely filing. br• Implement a group level Capex approval and FFE improvement structure inline to comply with operator audits. br• Have implemented the property improvement plans. br• Have done the preopening of the Corniche Hotel Sharjah, have done CT and VAT Registration of the same, br• Conducting the financial audit for 2023. br• Have successfully assign all the audits on group level for UK division. And file the GAAS return in HMRC as per the new rule by HMRC in 2023. br• Converted all the operation/FFE Accounts into interest bearing account with a increase in owner profit in term of interest earning with £1.1 million/Year.
Finance Manager
2024 - 2024 (0Months)

Four Points by Sheraton Production City, Dubai, Pakistan
• Oversee the full finance operation as a controller finance & business support of Four Points by Sheraton, Dubai, UAE.
• Prepare financial Statement, Annual Budgets, forecasts, any other Ad hoc reports requested by the owner.
• Managing & supervising accounts payable, accounts receivable, general cashier, cost control, income audit, night audit, purchasing department & Stores.
• Review the necessary ledgers, have develop a BS recon to control the GL balance changes on monthly basis.
• Debtor regular follow through credit meetings, with GM, and sales team.
• Follow the month end check list to prepare the MIS pack and Board reports.
• Hosting the internal and external audit,
• Supervising the hotel operation in terms of FTA compliance, as well the CT requirements.
Achievements:

• Have done P&L GL mapping for system reporting from Prologic.
• Have successfully completed the insurance claim project for the flood damages.
Assistant Financial Controller
2019 - 2023 (4 Years)

Central Hotels, United Arab Emirates UAE
• Responsible to represent the finance department during daily morning HOD meetings. br• Supervision the finance team of the hotel including the purchase, AR, AP, Night Income Audit, Stores, Receiving and Cost control. br• Responsible for the local compliance of the hotel. br• Responsible to support and liaise with the General Manager in meeting the strategic goals of the organization. br• Responsible for preparing and reviewing annual budgets, monthly forecasts, operating results. br• Responsible for verifying all financial reports and ensuring that all transactions are accurate and in compliance with local government regulations. br• Responsible to liaise with the hotel owner or managing director of the organization. br• Able to prepare and submits management reports in a timely manner and also ensure delivery deadlines. br• Able to effectively implement all accounting policies and procedures. br• Able to ensure a strong accounting and operational control environment to safeguard hotel assets. br• Able to assists proactively with cost control requirements. br• Able to assist with revenue enhancement possibilities. br• Able to assist with profit improvement opportunities for the hotel operations. br• Able to develop specific goals and plans to priorities, organize and accomplish the work. br• Assists in the building of an efficient and professional team of employees within Finance and Accounting Department. br• Monitors the vat compliance that applies, and ensuring that taxes are charged correctly filed. br• Monitor and improve hotels operation costs, profitability and manage business risks. br• Ensures profits and losses are documented accurately br• Ensures property policies are administered fairly and consistently. br• Achieves and exceeds goals including performance goals, budget goals, team goals, etc. br• Oversees internal, external and regulatory audit processes. br• Conduct regular weekly finance department meetings. br• Good hand on hospitality software’s, Sun, FMC, Opera, Sky Bayan, Oasys, Pay Trax, FA Soft. Protel, Addaco.
Chief Accountant
2018 - 2019 (1 Year)

Wyndham Garden Ajman Corniche, Ajman, United Arab Emirates UAE
Chief Accountant: Major responsibilities as a Chief accountant were to • Preparing Monthly PL, Forecast and Annual Budget. • Preparing monthly business review meeting presentation. • Preparing balance sheet reconciliation on monthly basis. • Tax reconciliation reporting to group office with the tax liability payment. • Verifying payable vouchers, income auditor daily reports, city ledger daily transaction register, general cashier reports, receiving reports daily store requisition i.e. (food, general, engineering stores) • Monthly verifying staff payroll and process through WPS system bank transfers. • Liaison with auditors and handle all audit matters (i.e., internal or external) • Ensuring that internal control (SOP’s) is being followed by all departments. • Supervise all the sub-section of finance i.e., credit, income audit, payable, general cashier/paymaster and store cost Section. • Signing the daily purchase order and cross checking the quality compliance of the company. • Prepared the ECL model for IFRS 9 implementation in 2018 audit by Deloitte. • We’re Using SUN, FMC, OPERA, WINHMS, PAYTRAX AND FA SOFT. Achievements: • Implemented Sun, Opera, FMC, PAYTRAX at Preopening for Wyndham Garden. • Have done all the necessary interfacing and coding for in preopening of the hotel. • Developed the Vision Based MIS, PL, Balance Sheet Reports as per the Company requirement. • Implemented the USALI 2018 templates of MIS, BRM, and Forecast.
Chief Accountant
2019 - 2019 (0Months)

RAK Hospitality Holding LLC, United Arab Emirates UAE
Chief Accountant: Key responsibilities were handling the books of Hakaya Group Collection (Leasing, Kona Grill Restaurant, Facilities Management (Royal family kitchen), Catering), Stirling Hospitality Assets Management, • Preparing monthly Standalone and consolidated P L, Quarterly Forecast, yearly budget monthly closing process, • Managing the AR and AP Aging and booking of all invoices, with collection and payment. • Managing leasing schedule for Qawasim Corniche (Contract list and Amortization schedules posting) • Handling the Payroll of the Group (all companies under the RAK Hospitality Holding). • Preparing quarterly IFRS financial for Investment Development Office Ras al Khaimah, • Reconciling bank accounts on monthly basis. • Preparing Vat Return reconciliation for submitting to Holding company for filing. • Preparing intercompany accounts reconciliation • Preparing IFRS consolidated financial for 6 trials of a group comprise of facilities management, Lease, Standalone restaurants, Assets Management and Catering. • The Group was Using Sun System, Jana, and sky bayan.
Chief Accountant
2017 - 2018 (1 Year)

Ramada by Wyndham Beach Hotel, Ajman, United Arab Emirates UAE
Chief Accountant (Feb 2017 to May 2018) Key responsibilities were to • Preparing Monthly PL, Forecast and Annual Budget. • Preparing monthly business review meeting presentation. • Preparing balance sheet reconciliation on monthly basis. • Tax reconciliation reporting to group office with the tax liability payment. • Verifying payable vouchers, income auditor daily reports, city ledger daily transaction register, general cashier reports, receiving reports daily store requisition i.e. (food, general, engineering stores) • Monthly verifying staff payroll and process through WPS system bank transfers. • Liaison with auditors and handle all audit matters (i.e., internal or external) • Ensuring that internal control (SOP’s) is being followed by all departments. • Supervise all the sub-section of finance i.e., credit, income audit, payable, general cashier/paymaster and store cost Section. • Signing the daily purchase order and cross checking the quality compliance of the company. • Prepared the ECL model for IFRS 9 implementation in 2018 audit by Deloitte. • We’re Using SUN, FMC, OPERA, WINHMS, PAYTRAX AND FA SOFT.
General Accountant
2015 - 2017 (2 Years)

Ramada by Wyndham Beach Hotel, Ajman, United Arab Emirates UAE
Major responsibilities as General Accountant were as follows: br br• Preparing supplier, utility, reimbursements, PRO reimbursements staff payments. br• Handling petty cash of the company and payroll transfers/payments. br• Reconciling bank accounts on monthly basis. br• Assisting/relieving the financial controller for month end closing finalizing the monthly accounts of hotel, br• All posting of invoices, debit notes store consumption food cost posting relating party transaction posting. br• Prepare payment of all project payments/ reimbursement from the holding company. br• Handling cost control food cost reporting for relieving cost controller. br• Relieving the purchase officer due to past procurement experience. br• Relieving the credit controller due to past experience of credit control.
Credit Controller / Accounts Receivables
2014 - 2015 (1 Year)

Ramada by Wyndham Beach Hotel Ajman, United Arab Emirates UAE
Major Responsibilities as a Credit Controller were as follows: • Prepare and sending statements invoices to the company customers. • Do follow-up from the customer to receive the payment with in the stipulated credit period. • Receiving, posting banking of the customers payments on daily basis. • Prepare the customer register to comply the credit terms. • Outlet cash collection and depositing in bank on daily basis papering the general cashier report. • Reconciling settling credit card payments on the daily basis, • Conducting the credit meeting on regular basis. And reporting the AR aging on regular basis to sales executive office. • Visiting customers on regular basis for expediting the collection process. • Look after bank accounts on daily basis with reconciling the daily transactions in bank. • Tracking of old fixed assets tagging the new assets and also prepare the register.
Purchasing Officer
2013 - 2014 (1 Year)

Ramada by Wyndham Beach Hotel Ajman, United Arab Emirates UAE
Major responsibilities as a purchaser were as follows: • Raising the purchase order on daily basis for food, beverage, guest supplies, and operation equip. requirements. • Asking for quotation negotiation for the prices with required quality prices. • Making the follow-up from the supplier for timely deliveries. • Receiving the item and making the goods receipts notes on daily basis, issuing the store item to the departments on daily basis. • Prepare stock taking managing inventory with physical stock on month end. • Prepare the price comparison for the purchases with best price considering the good quality.

Financial Controller - Bin Otaiba Hotels, UAE Dubai, United Arab Emirates UAE