Musab Sohaib is seeking a challenging position in a progressive organization. He has over 5 years of experience in assurance, audit, and finance roles. His most recent role was as Assistant Manager of FINCON at a microfinance bank in Pakistan where he prepared financial statements and reports, ensured regulatory compliance, and coordinated with external auditors. He has also led audit teams and was involved in financial and tax due diligence projects.

1. Residence
Mobile
E-Seeking
-mail




Apartment 32, SunHomes, Seef Area, Bahrain
+973 9
–
3366
–
5634
musab_sohaib@hotmail.com
Seeking a challenging position in a progressive and dynamic organization, with with an an aim aim to
add value
to
by enhancing ethical and competency standards,
constantly
availing opportunities to learn and grow
WORK W
ORK EXPERIENCE
PwCME
Assistant Manager
April 2014 to date
Assurance Group
Financial Services
Ithmaar Bank B.S.C.
to
while
a wide range of Islamic financial services including retail,
private banking, real estate development and fid
fiduciary uciary activities as a
in credit reviews and
analysis of murabaha, ijarah and other Islamic financing products as per FinancialAccounti
framework.
main focus
Consumer and Industrial Products and Services
Al Rashid Group
B.S.C.
and other
group entities
Tameer Microfinance reporting
Income
–
Bahrain office
udes TameerMicrofinance Bank Limited
Routine responsibilities
Statutory
and
regulatory
reporting
Management
and sales tax
Special projects
Project Foxtrot
the organization
– Banking and CapitalMarkets
Ithmaar Bank’s principal activities includes
commercial, investment banking,
Mudarib.
I am involved in the statutory audit and quarterly reviews of the Bank especially
impairment
Standards (FAS) issued by the
(AAOIFI) and IFRS framework
As a Job Incharge my
to the Audit and Governance Committee of the Bank, on
client and meeting the budget for t
per FinancialAccounting
ng
Accounting and Auditing Organisation for Islamic Financial Institutions
is the timely delivery of key deliverables including the audit opinion, report
on-are
-the-are
the he job.
-job training of the team, coordination with the
Al Rashid Group B.S.C. and other group entities
domestic consumer products. The key brands of the companies include Mothercare, Home Store, Koton,
Lipsy, Ecco and E
I was leading the team assigned for the annual audit of the companies f
been involved in the assessment of the
incl









in
Capital Markets
E-max.
are involved in the trading of apparels, clothing and other
control environment;
Store, Koton,
Home or the year ended June 30, 2014.
risk monitoring
I have
assessment procedures,
information and communication systems and procedures, control activities and monitoring of such controls.
This includes obtaining
cycles. I performed risk assessment
segmentwise) of the clients and reviewed key
requirements.
thorough understanding of clients’ revenue cycles, payment cycles and collection
analytical procedures and comparative analysis (country wise, brand wise,
performance rmance management indicators and working capital
perfo
Unit Head
–
FINCON
September 2013 to
Preparation of quarterly
and annual financial statements,
Director’s Report
the Code of Corporate Governance.
Coordinating and liaising with the external auditors to ensure smooth and timely completion of profit
clearance and annual audit of the Bank.
Bank
Reviewing the biweekly and quarterly reporting to
Preparation
and presentation
meeting
and m
portfolio.
Ensuring recording of front
revenue from branchless banking transactions are shared and recorded in the agree
and Telenor Pakistan.
Preparation of calculation of income tax liability
payment of tax liability
Coordinating
Filing of monthly withholding tax returns of the Bank
the vendors.
Ensuring timely payments of tax deducted by the Bank and
authorities while m
, and
report on Compliance with
Report, the
State Bank of Pakistan.
reports
of management report
anaging daily
and ad hoc
managing in the form of Finance Pack
reports sent to Business for
front-end and back
monitoring of the loan
end revenue from Easypaisa transactions and e
back-liability, agreed ratio between the Bank
quarterly advance tax payments and ensuring timely
and filing of annual tax return of the Bank
Bank.
with tax advisor for correspondence with the tax authorities.
and m
anaging the submissions of tax certificates to
managing iling of returns
filing anaging the submissions of tax certificates to the vendors.
managing to p
provincial Managed the data room for the due diligence exercise carried out by Telenor Pakistan (titled Project Foxtrot)
respect of the proposed acquisition of 100% shares in the Bank. This also involved managing the queries
received and responding to them while coordinating with various departments within the Bank for the said
responses.
Page
loans
ensuring 1
of
companies include Mothercare, January 2014
in monthly finance
and deposit
nsuring that
d rovincial sales tax
4
the

2. MFTransparency
index
i
ndex –
Integration of
Fundamo with Oracle
Financials
Internal
Annual
audit
udit
Procurement
ating
anual
Presentation in the
Leadership
Conference
A. F. Ferguson & Co. a member firm of the
Assurance Group
Limited
Limited
NIT
– Limited
Project
PMN
a
credit
redit
(post
Financial Services
Faysal Bank Limited
Adamjee Life
Assurance Company
Funds managed by
Askari Investment
Management Limited
Funds managed by
UBL Fund Managers
Income Fund
improve ove the rating of the Bank’s products.
of recording Bank) in order to automate the
without any observations relating to FINCON.
Easypaisa JCR-VIS to obtain the fresh credit rating of the Bank.
the rating agencies and
the e existing procurement procedures of the Bank and
industry-wide best practices relating to procurement. The Manual contained policies,
Manager
Assistant Manager
Supervising
Senior
Audit Senior
Audit Assistant
–
Audit Assistant
–
end-to-recording
-end management an
centralised January 2013 to
August 2013
June 2010 to
December 2012
February 2010 to May 2010
April 2009 to January 2010
October 2007 to March 2009
December 2006 to September 2007
I was involved in annual statutory audit and group reporting of the Bank for the year ended December 31,
2012 as team manager. Areas of my responsibilities included review of treasury operations, retail and
commercial banking operations, trade and foreign
exchange operations, among others.
I was also
involved in the review of the loan loss provision working prepared by the Bank under the provisions
of IAS 39. My responsibilities included assessing the methodology applied by the Bank for
impairment on its loans and advances portfolio
purpose of reporting to its Ithmaar Bank Plc. I was responsible for independently executing the task and
working in coordination with the management to ens
and collective assessment of impairment.
ure appropriate methodology and workings for individual
ensure and certain other loan
Involved in annual statutory audit
management
assessment of the assumptions used by the management for determining the policyholders’ liabilities and
incurred but not reported claims. The audit also include
under the
guidelines issued by the Securities and Exchange Commission of Pakistan and assisting in other
regulatory returns filed by the company.
of the company
revenue recognition policies of the company in relation to the premiums,
with specific focus on
. Areas of my responsibility encompass overall engagement
company. included assessment of the
end management of half yearly reviews of open
Financial Advisory Services Group (post
Financial and Tax Due Diligence
Skywalker
Project Jade
rating
manual
FundManagers
The
microfinance bank in Pakistan based on transparency of the the rates quoted to the customers. I worked in
liaison with the Product Department of the Bank to impr
Worked with the IT Department team to integrate the Fundamo system (used for recording Easypaisa
transactions) with Oracle Financials (the core accounting system of the B
recording of Easypaisa transactions on Oracle Financials.
Liaised with the Internal Audit department to facilitate them in conducting the audit of Easypaisa governance
at the Bank and completed the project
Liaised and worked with the rating agencies PACRA and JCR
This among other things included arranging meetings between the management and
provision of information required by the agencies.
Prepared the procurement manual of the Bank to resolve the action item from the Internal Audit department.
This, among other things, included understanding of th
benchmarking with the industry
guidelines and procedures relating to the procurement function and covered end
recording of the transactions. The Manual also proposed establishment of a centralised Procurement
Department to oversee the decentralised procurements made in the IT, Administration and Marketing
Functions.
Represented FINCON in the annual Leadership and BM Conference of the Bank and prepared and gave
presentation on the Bank’s performance during the past years.
post-qualification)
End
End-and
project carried out by the Pakistan Microfinance Network aims at calculating the index of each
-to-open-end mutual funds (ranging from all
Non-Banking Finance Companies and Other Notified
and conventional funds) and co
International Financial Reporting Standards and Non
Entities Regulations, 2008.
post-e all-debt to all
all-I was leading the team performing buy
connection with the proposed acquisition of the company by a consortium of Icorp (Private) Limited,
incorporated by the employees’ management group of ICI Pakistan Limited, and Fajar Capital Limited, the
equity partner.
The project involved involv
Pakistan
relation to its proposed
network
co-ordination with the client for checking complianc
qualification)
side financial due diligence review of
buy-ed carrying out the financial due diligence of the
acquisition by a listed bank
II
I
in Pakistan.
each
I worked in
Easypaisa
ank) governance
department.
Procurement
and Marketing
and gave
loan-type financial assets, for the
company’s solvency
compliance with the requirements of
ICI Pakistan Limited
operations of a foreign bank in
Page
2
of
aims at calculating the index the the rates quoted to the customers. Fundamo system (used for in conducting the audit of the action item from the Internal Audit establishment of a made in the IT, Administration Conference of the Bank and prepared assessment of
requirements
equity
in
4
of the them and
proposed BM

3. Page 3 of 4
Tuwairqi SteelMills
Limited
The project involved carrying out the financial due diligence of Tuwairqi Steel Mills Limited in connection
with the investment of USD 200 million by POSCO in the company. I was responsible for the execution
of the project in collaboration with Samil PricewaterhouseCoopers (PwC Korea) and preparation of
a data pack in this regard.
Khushhali Bank
Limited
I was part of the team carrying out a limited financial due Diligence review of the Khushhali Bank Limited, the
largest microfinance bank in Pakistan in relation to the proposed divestment of majority shareholding
in the bank. My responsibilities included the preparation of the financial due diligence report including the
assessment of loan loss provision of the bank based on roll rate analysis and providing input to the
lead financial adviser with respect to any accounting & tax issues identified during the due diligence
process for the purpose of their valuation model.
Project Jade I was part of the team performing the financial and tax due diligence review of a hospital in Pakistan in
connection with proposed investment by a foreign private equity firm. I was responsible for the
preparation of tax due diligence report and specific areas of financial due diligence report analysing the
various specialised departments in the hospital.
Project Cricket The project involved performing buy-side financial due diligence review of RBS Pakistan Limited in
connection with its acquisition by Faysal Bank Limited. I was responsible for the review of the loans and
advances portfolio of the bank and assist in the preparation of the financial due diligence report.
Business Enterprise Valuations
IGI Bank Limited Valuation was carried out using the ‘sum of parts’ approach, wherein subsidiaries of the investment bank
were valued using multiples-based market approach and the value so determined was added to the net
assets of the investment bank to ascertain an estimate of value.
I was assigned the task of determining the maintainable earning and margins of the wholly owned asset
management company of the investment bank and preparing the relevant sections of valuation report.
Project Restart The project involved providing an estimate of value of non-controlling interest in a microfinance
bank of Pakistan in relation to the proposed foreign investment in the bank.
I was responsible for the preparation of the valuation report and identification of normalisation adjustments
in order to determine the maintainable earning and margins of the bank to be used as input in the financial
model.
Project Retrofit The project involved carrying out a stand-alone indicative valuation of shares of Arif Habib
Investments Limited, a listed asset management company, from a marketable minority interest
perspective, in connection with its proposed merger with MCB Asset Management Company Limited.
The valuation was carried out using a multiples-based market approach (market comparable
method and market transaction method).
My responsibility included identification of non-recurring / one-off items and rationalisation of the cost base
of the company to arrive at the maintainable earning and margins of the bank.
Other Advisory Services
United Bank Limited The project involved the provision of assistance to United Bank Limited with respect to implementation of
certain requirements of UK GAAP relating to assessment of impairment on UBL’s domestic loans
and advances portfolio and certain domestic loan-type financial assets, for the purpose of reporting to
Bestway (Holding) Limited.
I was responsible for the execution of the whole assignment working in coordination with the management of
UBL for the development of models for individual and collective assessment of impairment of the bank’s
domestic loan portfolio.
Project Isle The project involved recommending various transaction structure options for the Employee
Management Group of a listed company in Pakistan in relation to the proposed management buy-out
of the company.
I was responsible for identification and analysis of various options available for the structuring of the
transaction in line with the key objectives specified by the management and reporting thereon.
Khushhali Bank
Limited
Particular areas of my responsibilities included:
 Setting up of the data room for the proposed bidders. This included analysing the information to be
placed in the physical and virtual data rooms and arranging it in a systematic manner;
 Management of the queries from bidders and their responses received from the bank’s
management and to ensure that all the queries raised had been appropriately responded; and
 Formation of guidelines governing access to the information placed in the data rooms.
Allied Bank Limited I was involved in carrying out an analysis of the ‘as-is’ policies and procedures of the bank to suggest a ‘to-be’
comprehensive management action plan for implementation of a risk management framework after a limited
benchmarking exercise on the basis of COSO Framework and PCOAB Auditing Standard 2 including
performing an exercise for mapping the financial data with the business processes.
Assurance Group (pre-qualification)
Financial Services – Banking and Capital Markets
 Bank AlFalah
Limited
I was involved in annual statutory audits and half-yearly reviews of these banks. I was mostly involved in
carrying out credit review of the loans and advances portfolio of the banks in accordance with the

4. Page 4 of 4
 Citibank N.A.,
Pakistan Branches
(as team leader)
 KASB Bank Limited
 Samba Bank
Limited
requirements of the State Bank of Pakistan which included assessing the provision (both subjective and
objective) required on delinquent customers based on the requirements of Prudential Regulations, financial
health of the customers and ability to pay. Areas of my responsibilities also included audit and review of
treasury operations (including money and capital markets), assessment of current and deferred taxation
liabilities, retail and commercial banking operations, trade and foreign exchange operations, among others.
The audit invariably included assessing the banks’ compliance with the directives of the State Bank of Pakistan
given vide their circulars issued from time to time, and assisting in preparation of financial statements of the
banks and reporting on the requirements of Code of Corporate Governance.
Financial Services – Asset Management Services
 Standard Chartered
Modaraba (as team
leader)
 Mutual funds
managed by Arif
Habib Investments
Limited (as team
leader)
 AKD Income Fund
I was involved in the statutory annual audits of these mutual funds (a mix of open end and closed end funds
consisting of all equity to all money market investments). Areas of my responsibilities included covering all
major functions including calculation of Net Assets Value (NAV), treasury operations, covering overall
investments under IAS 32, IAS 39 IFRS 7, other statutory reporting requirements and assisting the
management in preparation of the financial statements under applicable IFRS and local regulations.
The monthly compliance engagements on these funds were agreed upon procedures covering compliance with
NBFC Rules, NBFC Regulations and compliance with other internal policies of the management.
I also conducted Shariah audits of the Shariah compliant mutual funds and pension scheme managed by Arif
Habib Investments Limited
Consumer and Industrial Products and Services
 Clariant Pakistan
Limited
 Indus Motor
Company Limited
 Bahria Foundation
I was involved in the annual audits of these entities covering all major functions including procurement,
manufacturing / assembling, inventory management and distribution. Areas of my responsibilities also
included audit of treasury operations, assessment of current and deferred taxation and preparation of the
financial statements in accordance with requirements of International Financial Reporting Standards and
applicable regulatory and statutory requirements. In addition, I was also involved in the foreign reporting of
Clariant Pakistan Limited to PwC Switzerland under IFRS.
ACADEMIC AND PROFESSIONAL EDUCATION
Chartered Accountant The Institute of Chartered Accountants of Pakistan [December 2009]
Certified Financial Analyst CFA Institute [Level – 1 to be attempted]
Bachelors of Commerce University of Karachi [2006]
PERSONAL PROFILE
Interests and hobbies Personal information Proficiencies and achievements
Playing chess Marital Status Married Skilled in usage ofMicrosoft Office includingMS Visio
Playing table tennis Date of Birth October 9, 1986 Adept in report writing skills usingMS Powerpoint andMSWord
Reading Urdu and English novels Nationality Pakistani Teach at professional level in ACCA
Long drives Language English andUrdu Participated in and won various debate competitions at school level
AVAILABILITY: One month’s notice period to be served
REFERENCES: Will be provided on request