Elchin Majidov
Baku
Summary
Deputy Chairman of the Board of Directors known for highly productive outcomes and efficient task completion. Possess in-depth knowledge in corporate governance, financial oversight, and strategic planning. Excel in leadership, communication, and problem-solving skills, ensuring effective board operations and company success.
Overview
11
11
years of professional experience
1
1
Certification
Work History
Deputy Chairman of the Board
The State Agency for the Use of Mineral Resources
Baku
04.2022 - Current
- Governing the organization by establishing broad policies and setting out strategic objectives
- Approving annual budgets
Head of Finance
The State Agency for the Use of Mineral Resources
Baku
03.2021 - 04.2022
- Developed and implemented financial strategies to optimize cash flow, reduce costs, improve operational efficiency and increase profits.
- Managed and supervised the finance team including recruitment, performance reviews and appraisals.
- Prepared monthly management accounts with variance analysis for budgeting purposes.
- Created and maintained annual budgets, forecasts and cash flow projections.
- Analyzed financial data to identify trends in revenue, expenses, profitability and other KPIs.
- Identified potential areas for cost savings through process improvement initiatives.
- Planned and coordinated risk mitigation strategies to protect company assets.
- Ensured compliance with local, state, and federal tax filings and other regulatory financial obligations.
- Managed treasury functions, including cash management, investments, and liquidity strategies to optimize financial resources.
- Led financial risk management efforts, identifying potential threats and devising effective mitigation strategies.
- Managed and developed finance department staff, fostering a culture of continuous improvement and professional growth.
- Created and updated financial reports on frequent basis to present information to leadership teams.
- Checked payroll, vendor payments and other accounting disbursements for accuracy and compliance.
Chief Accountant
The State Agency for the Use of Mineral Resources
Baku
09.2020 - 03.2021
- Developed, implemented and maintained accounting systems for all financial transactions.
- Reviewed, analyzed and verified accuracy of financial documents such as invoices, bills and ledgers.
- Prepared monthly account reconciliations to ensure accuracy of financial statements.
- Managed the preparation of annual budgets and forecasts in accordance with company policies.
- Coordinated external audits with outside auditors to ensure compliance with GAAP regulations.
- Performed ad hoc analyses as requested by management team.
- Researched complex technical issues related to taxation or regulatory matters.
- Prepared detailed reports summarizing financial results on a monthly basis.
- Interviewed, hired and trained new employees.
- Maintained accurate accounts for cash, fixed assets and other transactions.
- Posted financial data in Excel spreadsheets and managed inventory.
- Updated and managed accounts payable databases, employing access controls to protect data.
- Analyzed balance sheets for mistakes and inaccuracies.
- Wrote reports, authored papers and organized supporting documentation.
- Investigated and resolved billing issues to maximize cash flow and minimize liabilities.
- Maximized tax refunds by striving to obtain taxable income, deductible expenses and allowance details.
Senior Accountant
DECOLINE MMC
Baku
12.2019 - 08.2020
- Reviewed and analyzed financial statements to identify potential discrepancies.
- Maintained detailed records of account transactions, including invoices, payments, and journal entries.
- Assisted in developing budgeting processes and forecasting future revenue and expenses.
- Prepared monthly financial reports for management review.
- Provided support to internal and external auditors during the annual audit process.
- Developed strategies to improve accounting systems and processes.
- Ensured compliance with all applicable laws, regulations, policies, procedures, and standards of generally accepted accounting principles.
- Assisted in preparing tax returns for filing with government authorities.
- Reviewed and reconciled discrepancies in accounts and financial documentation.
- Performed general ledger account reconciliations and generated updated financial documents.
- Managed financial operations, month-end reporting, financial schedules and reconciliations.
- Managed daily closing, reporting and reconciliation functions.
Senior Accountant
European Youth Olympic Festival Operations Committee (EVENTOC)
Baku
03.2019 - 08.2019
- Maintained detailed records of account transactions, including invoices, payments, and journal entries.
- Assisted in developing budgeting processes and forecasting future revenue and expenses.
- Prepared monthly financial reports for management review.
- Reconciled bank statements to general ledgers on a monthly basis.
- Researched complex accounting topics as needed to ensure accurate reporting of financial data.
- Coordinated with other departments on various accounting activities such as month-end close process or budget preparation.
- Assisted in preparing tax returns for filing with government authorities.
Accounting Manager
World Expo 2025 Baku Operations Secretariat
Baku
11.2017 - 12.2017
- Developed and implemented effective accounting policies and procedures.
- Analyzed financial data, identified trends, and developed strategies to improve profitability.
- Prepared monthly, quarterly, and annual financial statements in accordance with generally accepted accounting principles.
- Evaluated internal control systems to ensure adherence to corporate policies and procedures.
- Monitored cash flow, prepared bank reconciliations, and managed accounts payable and receivable functions.
- Advised senior management on potential investments or other finance related matters.
- Participated in meetings with stakeholders to discuss company's financial performance.
- Oversaw cash flow, controlled costs and financial matters.
Accountant
Azerbaijan Islamic Solidarity Games Operations Committee (Baku2017)
Baku
06.2016 - 07.2017
- Managed accounts receivable and payable, reconciled bank statements, and prepared financial reports.
- Reviewed invoices for accuracy and completeness prior to payment processing.
- Reported on financial results including balance sheets, income statements, cash flow statements.
- Posted financial data in Excel spreadsheets and managed inventory.
- Gathered banking transactions via statements, recorded activity in Excel format and reconciled balances.
Accountant
Baku European Games Operations Committee (BAKU2015)
Baku
01.2014 - 08.2015
- Managed accounts receivable and payable, reconciled bank statements, and prepared financial reports.
- Monitored cash flows and prepared weekly cash projections.
- Ensured that internal controls are maintained throughout all areas of responsibility.
- Reviewed financial information detailing assets, liabilities, and capital.
- Wrote reports, authored papers and organized supporting documentation.
Education
BBA - Accounting And Finance
PİU
PRAGUE06-2012
BBA - Accounting And Finance
Near East University
Nicosia06-2011
High School Diploma -
School-lyceum № 83
Baku05-2007
Skills
- Meetings and presentations
- Research and reporting capabilities
- Program coordination
Languages
azerbaijan
First Language
English
Upper Intermediate (B2)
B2
Russian
Intermediate (B1)
B1
Turkish
Upper Intermediate (B2)
B2
Certification
• Planning and Organizing - ADA University (2015)
• Project Management Models - (PMP) – Duke University (2022)
• Mini-MBA Leadership – UNEC (2024)
Timeline
Deputy Chairman of the Board
The State Agency for the Use of Mineral Resources
04.2022 - Current
Head of Finance
The State Agency for the Use of Mineral Resources
03.2021 - 04.2022
Chief Accountant
The State Agency for the Use of Mineral Resources
09.2020 - 03.2021
Senior Accountant
DECOLINE MMC
12.2019 - 08.2020
Senior Accountant
European Youth Olympic Festival Operations Committee (EVENTOC)
03.2019 - 08.2019
Accounting Manager
World Expo 2025 Baku Operations Secretariat
11.2017 - 12.2017
Accountant
Azerbaijan Islamic Solidarity Games Operations Committee (Baku2017)
06.2016 - 07.2017
Accountant
Baku European Games Operations Committee (BAKU2015)
01.2014 - 08.2015
BBA - Accounting And Finance
PİU
BBA - Accounting And Finance
Near East University
High School Diploma -
School-lyceum № 83
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