RINTO ANTONY, Chief Financial Officer CFO

RINTO ANTONY

Chief Financial Officer CFO

PT Elang Perdana Tire Industry

Location
Indonesia
Education
Diploma, Fraud Examination (CFE)
Experience
21 years, 10 months

Share My Profile

Block User


Work Experience

Total years of experience :21 years, 10 months

Chief Financial Officer CFO at PT Elang Perdana Tire Industry
  • Indonesia
  • My current job since November 2018

Improve profitability
Financial and operational cost reduction
Expansion and growth strategies
Bank and Financial institution reporting and coordination
Preparing the Company for IPO
Establishing Goal, Plans and KPIs

CFO at PT Orson Indonesia
  • Indonesia
  • March 2017 to October 2018

Experience CFO with proven record of establishing cross-functional partnerships to deliver results. As a leader, driving operations within marketing, sales, financial and administrative areas. Accountable for multi million dollar business and allocating resources to exceed profit and sales goals. Successful in streamlining, reorganizing and leading staff towards productivity and efficiency.

• Business planning and analysis
• Operational efficiencies
• Financial analysis and reporting
• Resource management
• Growth strategy support
• Performance measurement and
• Decision support

Key Result Areas:-
Revamping of companies operations to bring the company to a profitable region within a short span of one year. Highlights of major activities and results outlined below:-
- Effective management of commodity price risk by effective use of forward contracts. Palm oil contributes 90% of the cost of the finished product. Improving profitability by improving the spread between buy and sell through proper hedging.
- Reduced cost of production by substituting raw materials based on seasons. Established continuous monitoring of commodity prices and its response to various market events such as seasons, surplus stock etc.
- Improving quality of finished products by establishing improved R&D activities and thereby reduced customer complaints and improved company’s success in getting repeat orders from the customers.
- Pricing strategy changed to ‘market bid’ from existing ‘fixed price’. This has strengthened sales team in concluding sales more efficiently.
- Established regional sales team in key markets on ‘commission basis’. This has resulted in faster response to customers in key markets through ‘proximity approach’.
- Established effective credit limits, Accounts Receivable ageing and follow up mechanism. This has resulted in speedy recovery of receivables and thereby improved company’s cash flows.
- Renegotiation of payment terms with suppliers. Most of the suppliers are moved from cash on delivery to 15 to 30 days credit.
- Establishing long term supply contracts with suppliers other than for palm oil to reduce risk of price volatility and its impact on bottom line.
- Negotiation of facilities from financial institutions based on Company’s performance and projected financials positions. Reduced working capital loan interest from 11.50% to 9.50%. Also, increased available working capital facility offered by banks by 200%.
- Implementing ERP packages to integrate all operations of the company to support faster decision making process.
- Sale of existing aged operating equipment and replacing it with most recent and automated equipment from China. Improved productivity and savings in utility cost has indicated a payback period of lower than 3 years. Net cash outflow for the project was arranged through ‘private financing’ from China.
- Overall monitoring of operating performances of the Company. Monitoring the month close activities, inventory levels, budgeting control activities within the Company.
- Improved company’s reach on online platforms through new website with SEO and CMS. Provided guidance to the company to obtain ISO and GMP certification that project a better image of the company and differentiate it among the competitors.

Overall sales of the company have moved from $20 million in 2016 to $42 million in 2017. Sales estimated to double in year 2018. Net profit improved by +5% in year 2017.

Manager Internal Audit at HSA GROUP
  • Indonesia
  • March 2013 to February 2017

Key Result Areas:
Administering activities like:
o Recruitment and hiring of the internal audit staff
o Development of the organization's Internal Audit Risk Assessment based on the COSO Internal Control Framework
o Design and implementation the organization's risk-based Internal Audit Plan
Establishing and directing the Internal Audit Department for the group’s Indonesia Sumatera region
Providing audit plans and audit results to the Managing Director
Identifying activities subject to audit coverage and assessing the degree of risk inherent in the activity in conjunction with the Internal Audit Risk Assessment
Leading and evaluating internal audit staff and resources
Managing compliance audits by frequently updating to changes the regulation that affect company’s operations
Advising operations and corporate functions regarding the adequacy of policy, procedures and appropriate controls
Performing investigations and special projects at the request of senior management
Establishing the audit report format and audit rating system
Implemented a post-audit survey of auditees to gauge customer satisfaction
Preparing audit programs, scope for audit and responsible for delegation of work to subordinates
Understanding audit requirements; observing & validating process for following quality procedures
Evaluating internal control systems / procedures, preparing audit reports with a view to highlight the shortcomings and implementing necessary recommendations
Performing cost analysis of the product of the company and suggesting implementation of various cost effective measure for effective management of cost of the product
Monitoring governance structure of the organization entailing:
o Defining entity control environment and entity level processes
o Ensuring appropriate documentation, adequate testing & accurate reporting on financial control activities
o Defining processes, sub-processes & activities, reviewing flowcharts, risk control matrix, testing of design and operative effectiveness as well as remedial solutions
o Reporting to management regarding the progress of internal controls (financial, operations and compliance)
o Providing guidance for development or modification of corporate policies, procedures and administrative requirements

Achievements:
Played a key role in setting-up audit department for a diversified MNC
Established cordial relationships and credibility at all organizational levels especially with senior management and Board of Directors
Successfully gain operational efficiencies and catalyst for change with > US$ 1 million savings during year 2015

Manager Internal Audit at Metro Cash & Carry India Pvt Ltd
  • India
  • October 2011 to January 2013

Directed and managed the day-to-day operations of the 4 member Internal Audit Department and was reporting to Head of Internal Audit.
• Designed and implemented the organization's risk-based Internal Audit Plan.
• Lead and evaluate Internal Audit staff and resources
• Advise operations and corporate functions regarding the adequacy of policy, procedures and appropriate controls
• Perform investigations and special projects at the request of senior management
• Conducted new store handover audits
• Store audits to check availability, expiry, selling price, accuracy etc
• Conducted operational, financial and compliance audits.
• Use data analytics to identify risk areas and to optimize audit resource work planning and resource allocation.

Dy. Manager, Internal Audit at Ford Motor Company
  • India
  • November 2006 to October 2011

Executed a comprehensive, risk-based audit plan with heavy international coverage (more than 10 countries). Managed staff of 4 - 5 professional auditors. Reported to the General Manager - Audit and Director Audit
• Performed Sarbanes-Oxley assessments by working with process owners to document all relevant processes and internal controls using flowcharts and narratives.
• Directed and supervised the work of audit staff.
• Reviewed all audit reports prior to issuance providing recommendations for improvement, accuracy and completeness.
• Participated in annual audit plan development, resource allocation and entity risk assessment process
• Verification of operational policy and procedure change requests
• Performed BCP reviews and health and safety reviews across various Ford manufacturing plants
• Use data analytics to identify key risk areas and to ensure audits are completed within the time schedules

Manager Accounts at Joy Alukkas Traders India Pvt Ltd
  • India
  • April 2002 to November 2006

Directed the day-to-day operations of the 10 member Accounts Department and was reporting to Managing Director
• Responsible for the monthly close as well as maintenance of all accounting ledgers including monthly review of all account reconciliations and journal entries.
• Preparation of all financial reports, including Profit and Loss Statement, Balance Sheet and Statement of Cash Flows, as well as the year-end financial reports.
• Prepare tax reports (VAT, WHT, Income Tax, Customs) and coordinate with tax authorities
• Work with internal and external auditors during reviews and audits to ensure full cooperation from accounting staff and compliance with all qualified requests.
• Coordinate with financial institutions and submit various MIS reports (Borrowing)
• Coordinating with Customs department for import and export of bullion and jewellery)

Education

Diploma, Fraud Examination (CFE)
  • at ACFE
  • November 2015
Diploma, Certified Information System Auditor (CISA)
  • at ISACA
  • January 2010
Diploma, Certified Internal Auditor (CIA)
  • at IIA
  • January 2009
Diploma, Certified Treasury Manager (CTM)
  • at ICFAI
  • August 2008
Master's degree, Chartered Accountant (ACA)
  • at The Institute of Chartered Accountants of India
  • March 2006
Bachelor's degree, B.Com
  • at Calicut University India
  • January 1998

• Bachelor of Commerce (B.Com), Calicut University India, 1998 Applications and IT exposure: Lotus Note (Audit Application), PeopleSoft and QAD (ERP), JAVA, HTML, C (Languages)

Specialties & Skills

Risk Control
Certified Fraud Examination
Certified Internal Auditor
Internal Audit
Internal audit/ Operational audits / Forensic audits/ SOX Reviews
Application control revies
BCP and Disaster Recovery/ Health and Safety Reviews
INTERNAL AUDIT, INTERNAL CONTROLS, RISK MANAGEMENT

Languages

English
Expert

Memberships

IIA, ISACA, ACFE, PRMIA
  • CERTIFIED
  • January 2006

Training and Certifications

CIA, CISA, CTM, CFE (Certificate)

Hobbies

  • SPORTS, MUSIC, MOVIES