RESUME’: AMAN U. SAIYED
EMAIL ADDRESS: ausaiyed@cyber.net.pk
DEPARTMENT: Accounting
Designing Integrated Management Information Systems (ERP) for large organizations. Conducting research on problems faced by the Pakistani businesses with special emphasis on management information and communication
BBA 1976 Georgia State University, Atlanta, GA
MBA 1978 Georgia State University, Atlanta, GA
Member American Institute of Certified Public Accountants
Member Texas Society of CPAs
Finalist Chartered Institute of Management Accountants,
CIMA (UK)
INSTRUCTOR AT IBA 2002- PRESENT
Currently teach Financial Accounting, Managerial Accounting and Analysis of Financial Statements at IBA, Karachi. Have conducted seminars for State Bank of Pakistan, Habib Bank Limited, and Institute of Bankers, Pakistan (IBP) on Accounting, Finance, Auditing, and Management. Received The Best University Teacher of the Year Award for 2004 from HEC
Taught Office Accounting and Financial Accounting in the Evening program at the Community College System
NON-TEACHING EXPERIENCE
COO, KHADIM ALI SHAH BUKHARI.
LTD. 1999-2000
Working as the Executive Director and then as the Chief Operating Officer developed policies and procedures to streamline security trade operations, back-office operations and HR. Spearheaded the efforts to fully enter into COT market. Due to our aggressive efforts, KASB captured close to Rs. 4 billion of the total COT market of approximately Rs. 13 billion returning a profit of about 165 million to our investors and us. Led the management team to develop standardized operations and procedures to obtain ISO 9000 certification. By changing corporate policy towards automobile ownership of the employees saved the company about Rs 100,000 annually in automobile maintenance costs. As MIS Head, developed reports that deliver daily operating summaries at the desk of the top management by the end of the day. Helped develop software to give online Karachi Stock Exchange rates to our web page showing the customers their daily trades.
As lead manager of the JDEdward MIS Design and Implementation Team, developed the schedules to changeover to a fully integrated information system. Worked with the software specialists to modify the system to meet our local and corporate needs. After installation of the system, worked as the security controller and coordinator to run the system. Supervised a staff of 25 nationals and expatriates. Trained the nationals to take over supervisory positions as per requirement of the Angolan government’s decree. Worked with the engineers and lawyers to develop new methodologies to calculate royalties, taxes and other government levies. Developed procedures to neutralize the effects of massive currency devaluations taking place in Angola at that time. Designed procedures to reduce the impact of the devaluation on taxes, depreciation and pension liabilities of the firm.
Contract
Negotiator, CHEVRON CORPORATION 1994-1995
Reviewed production sharing, joint venture and construction contracts for their financial implications. Worked with process engineers in Angola and Zaire to help them develop a long-term alliance with the Caterpillar Corporation to build compressors and turbines for production operations. This alliance will save these two operations about $ 35 million over a 20-year period. Reviewed the service contract between Chevron and Kuwait to provide technical expertise to Kuwait National Oil Company. This was the first contract of its kind that allowed an American company to go back into Kuwait since the nationalization of oil and gas industry by Kuwait in the early eighties.
Represented the Finance Department in the team set up to handle the first ever privatization of its kind in the former Soviet Union in 1992. This $1.6 billion privatization allowed Chevron to lead other oil companies into the highly prospective Caspian Basin. We not only helped negotiate a good price for the properties, we trained the Kazakhs and Russians in the areas of Financial Management, International Accounting rules and procedures and GAAP dealing with oil and gas. Due to our negotiations and allocation of values to the assets, the joint venture saved about $25 million in income taxes and royalties in its first year of the operation.
Worked as a manager on special assignment in the Netherlands, Spain, Angola and Australia. In the Netherlands and Spain, worked with Goldman Sachs to devise a plan to sell our producing properties and concessions to other oil companies. We sold our Oman and Spain properties and kept the ones in the Netherlands. In Angola, designed a software program to present our performance reports in a government-mandated format. Initially, this report was being prepared manually and required a lot of effort and time. In Perth, Australia, designed a reporting system to convert their accounting into Activity Based Costing (ABC) system. This was in response to our non-operating partners’ demand to have a system that clearly reflected their investment in the oil and gas fields offshore Western Australia.
Worked as a senior financial analyst coordinating between Chevron Management at HQ in San Ramon, CA and the field operations. Negotiated the closure of our exploration offices in Syria and Yugoslavia. Brought out about $350,000 cash against very strict exchange control regulations in the two countries. Prepared a new overhead valuation analysis for our oil and gas development project (Kutubu) in Papua New Guinea. This resulted in Chevron saving $3 million over the life of the project. Won the lifetime “Better than the Best Award” from Chevron’s chairman.
As accounting manager, supervised preparation of financial statements. Supervised coding of invoices, accrual worksheets, and payment to vendors, company payroll in dollars, pounds sterling and local currency. Prepared a fully automated allocation program to allocate about $16 million administrative expenses to the operating facilities and construction projects. Prepared cost accounting procedure for a small refinery that produced jet fuel and diesel oil for company use and some local sale.
Financial Analyst, Gulf Oil Co. 1980-1984
As an analyst, prepared budgets, cash flow forecasts and other financial reports for Gulf’s operations in Pakistan, Oman, Colombia, and Papua New Guinea. Reviewed exploration contracts for our ventures in Ras al Khaimah, Sharjah and Surinam. Worked as relief financial manager in Surinam in the absence of our financial manger who could not leave Pakistan due to disputes arising with Oil and Gas Development Company of Pakistan. Worked in Colombia, Nigeria, Zaire, and Cameroon to negotiate contract deals with our partners, resolve tax issues with the local tax authorities and settle disputes with local landowners. Worked with our attorneys in the Hague Tribunal to finalize Gulf’s claim of $760 million against the Islamic Republic of Iran due to the nationalization of its assets in Iran after the Islamic revolution. Our claim was later settled against Iran’s counter claim of $1 billion.
Authored a textbook titled “Management Accounting for Financial Services”. This is the first book of its kind published in Pakistan. The book is published by IBP and is being used as the required text for their final level Superior Quality Examination.
Formulated a model business plan for young inventors for a soon to be launched Islamic Development Bank’s venture capital project to be coordinated by Dr. Ata Ur Rehman.
Currently completing a textbook on management accounting with special emphasis on Pakistani business and management practices.