Profile Summary
• Finance professional with experience in spearheading and streamlining Accounting, IFRS Reporting, Auditing and Compliance activities.
• Designed and managed reporting and analysis of key operating metrics and business drivers resulting in optimized performance, overall business growth and profitability.
• Skilled in managing the Treasury function with responsibilities including long & short-term funding, liquidity, foreign exchange, investments, trade documentation, banking relations, cash flow forecasting
• Led the delivery of SAP FI module through analysis and mapping of end-to-end business processes while working with business process owners/multiple stakeholders and other team members
• Expertise in Planning and Forecasting financial projections for annual business plan.
• Improved superiority and accuracy of budgeting and forecasting efforts by creating various Excel and analytical tools
• Acted as a key player in VAT implementation and systems design,reporting requirement
Currently working at Forsan Foods & Consumer Products Co., Riyadh, KSA as Manager - Treasury and PlanningEdit | Delete
May 2016 to Present (1 year(s) - 10 month(s))
Acting as Head of Department - Treasury and Planning.
Roles and Responsibilities
Successful establishment of Treasury and Planning department
Leading a team of 5 members and reporting to Chief Financial Officer.
Treasury Management
Effective working capital management with savings around 3.5Mn Saudi Riyals of Interest costs
Precise Cashflow forecasts (short and long term) leading to clear visibility and thereby achieving greater control.
Mitigation of forex risk using Forward contracts for exposures in EURO.
Negotiating short term and medium term credit facilities with Bankers.(150 Mn Saudi Riyals)
Managing Letter of Credits,Guarantees,Trade documentation etc.
Financial Planning and Budgeting
Designed and Implemented Financial Models for projecting Financials for long term planning.
Preparation of annual business plans based on inputs from cross functional teams.
Providing value added analysis for effective overhead allocation across products.
Monthly preparation of product wise profitability reports to Management.
Managed annual budgeting processes, understanding business priorities and factors driving business while monitoring budgets, with reasonable prediction of expense and timing of costs.
Other areas
Acted as a key player in implementation of VAT
Prescribed policies and procedures,accounting documentation for CAPEX budgeting and investments
Coordination with Statutory auditors with respect to audit of Treasury activities.
Discussion with CFO regarding technical aspects of new IFRS and its impact on Financial Statements.
Suggested improvements in process in accounting areas like Payables,Receivables and Fixed assets.
Previously worked with Hyundai Motor India Limited - MNC,Chennai,India as Manager - Accounts and TreasuryEdit | Delete
May 2008 to May 2016 (8 year(s) - 0 month(s))
Responsibilities
Accounting and Reporting
Preparing financial statements as per International Financial Reporting Standards
Liasioning with Statutory auditors for completing annual audits without major audit issues
Delivering Board packages to executive management
Managing other areas like Fixed assets,Accounts receivable,Accounts payable etc
Treasury Management
Managed revolving credit facilities with eight banks (700 Mn USD),compliance with financial covenants.
Managed investment portfolio amounting to 150 Mn USD and reporting results to Investment Committee.
Reduced Forex exposure through natural hedges,Bills discounting and forwards
Cross-functional cash flow forecasting process, improving forecast accuracy.
Managing Trade documentation (Letter of credits,Guarantees) for Imports and exports
Preparation of Research reports with respect to currencies,interest rates,fiscal and monetary policies
ERP projects
Customized many reports in SAP - FI module for real time reports thereby saving time during closing process
Introduced new systems in Treasury such as Host to Host approval, Credit facility documentation, automatic email triggers to vendors
Taxation
Preparation of Income tax returns and computation of taxable income.
Preparation of product wise and region wise Profit and loss for Transfer pricing purpose
Submitting relevant information, preparing replies for Show Cause notices, appeals, refunds with respect to various tax assessments.
Other areas of expertise
Liaising with Insurance providers (Fire & Special perils) for lower premiums, risk inspections, settlement of claims etc.
Monitoring finance operations of branches (showroom and workshops at metros)
Developing profitability statement, monthly MIS data, preparing budgets for Branches & Regional offices
Recognitions and Awards:
Executed IFRS transition project in Hyundai Motor India Ltd, Chennai. Awarded as ‘Best Performer of the Year in 2011’
Finalization of Accounts for 3 years without major audit observations. Promoted as Deputy Manager on a fast track basis
Nominated as representative of FI module to South Korea for integration testing
Previous Employment(s)/Designation(s)
Brahmayya & Co., Chartered Accountants as Article Clerk Edit | Delete
Feb 2005 to Feb 2008 (3 year(s) - 0 month(s))
Assisted seniors and worked as a Team Leader with respect to work in the areas/fields like preparation of Annual accounts, verification of transactions and balances for expression of Opinion on Annual accounts.
Managing and training team/subordinate members with respect to adoption of standardized/pre-defined audit procedures to be followed in various audit assignments.