Head finance and Audit
Asia Healthcare Holdings by TPG Growth
Total des années d'expérience :17 years, 2 Mois
AHH is a healthcare company funded by private equity fund TPG, USA and it currently held shares in Motherhood Hospitals, American Oncology Institute Hospital and Ampath laboratories. Joined Motherhood as Head - Finance and on Oct'18 promoted to AHH as Head - Internal Audit of the entire group for providing assurance and act as advisor to the Board and Investors with other responsibilities.
~ As Head Finance and Accounts | Motherhood
Highlights:
Joined Motherhood Hospital in March 2017 as Head - Finance and Accounts.
Successfully grew from 3 hospital in Bengaluru to 11 hospitals in PAN India.
Enabling monthly MIS and monitoring business KPI’s deck for business review meetings
Raised debt fund from banking institution for projects and working capital management - Rs. 100 cr.
Provided operational and financial leadership for supporting group CFO in raising Private Equity Funding - $ 65 million
Areas Handled: Debt and Private Equity Fund Raising, Financial Modelling, Budgeting, Working Capital Management, MIS, Business Analysis, Treasury Management, Statutory Audit
Key Result Areas:
Heading finance functions involving determining financial objectives, designing & implementing systems, policies & procedures to facilitate internal financial and process controls.
Financial Reporting and statutory audit management efficiently; handled financial due diligence for fund raising activity of the company.
Implementation of Navision software for finance and accounting and carried out re-structuring for tax planning purpose.
Setting up of Finance Team; controlling and supporting business strategy for expansion of business.
Supporting the Chairman, Group CFO & CEO in Strategic Planning and Business transformation exercises, setting up of new units
Conceptualizing & formulating detailed different business box models for existing and new business growth opportunities
Preparing financial model for business expansion; managing vendor and finance due diligence
Administering investor and board meeting management and presentation
Ensuring monthly book closing process, including reconciliations and analysis of related accounts
Steering overall accounting operations and audit for the organization including collections, purchase, contract compliance, receivables, deposits, disbursements, payroll, fixed assets and inventory
Designing business plans / strategies for maximizing the profitability & revenue generation and realizing corporate goals
~ As Head - Internal Audit | Asia Healthcare Holdings
Promoted on Oct’18 and given position of Head Internal Audit of entire AHH Group of Hospitals
My responsibilities include not only auditing but also handling investors for MIS and their queries, assist board in review of monthly MIS for the group, being lead for due diligence for merger and acquisition activities of the group.
Hospital processes are very complex and each patient bill is charged by Doctor, Nurse, Pharmacy, Radiology, Diagnostics, billing department and so on. Again each department has 3 shift of people handshake. Hence defining and monitoring business process becomes key part of hospital success. As head of business process and controls was responsible for areas to automate and define process to bring operational efficiency, effectiveness and reduce revenue leakages.
Highlights:
Ensured monthly MIS review for 11 units including P&L statement, revenue/gross margin analysis (item wise, speciality wise, category level)
Reviewed key business processes like methodology for OT/IP billing, Package variance, Doctor cost agreement and payment methodology and its automation, Consignment process, Rate contract margin adherence etc to enhance operational efficiency and effectiveness.
Monitored the key performance indicators of the unit and initiates corrective action, whenever necessary.
Pivotal in setting up of BPC Department from recruitment, to training, implementation and supervision of work across 11 units; developed internal financial control framework of the company
Implemented internal control & processes such as SOD, process gaps and addressed control weaknesses across 11 units reporting to CFO
Formulated & implemented finance manual and accounting policies to maintain and strengthen internal controls over revenue, receivable, payables, inventory accounting
Provided risk-based audit plan to internal auditors to achieve management objective and evaluate effectiveness of controls; recommended actions based on issues coming out of audit findings and followed up for the roll out status
Conducted special audits focusing on revenue optimization and fraud investigation on purchase, cash collection, refund, marketing expense, discount based on management request.
Handled a portfolio of 15 clients in various industries like auto components, shipping, industrial products etc.
Enable the client to improve business performance through appropriate use of audit services;
Monitored a team of 10 - 15 people.
Adhered to deadline across the various engagements demonstrating multitasking.
Handled staff related matters like team building, appraisal, recruitment etc
Developed and maintained relationship with client
Demonstrated expertise in developing systems, procedures and internal controls for smooth business and finance operations, sound knowledge of Indian GAAP.
Key Deliverables-
Overseeing audit of accounts/ financial statement which includes but not restricted to compliance pertaining to Companies act, Accounting Standard, Income Taxes, Custom and Excise Duty & various other rules & regulation.
Developing the engagement approach which includes performing qualitative and quantitative analysis and evaluation of industry and business risks.
Assisting manager in preparation of deliverables like Audit Report, Financial Statement and Clause 41, etc. as well as provided consultancy on conversion of IGAAP FS to IFRS FS for GMR Energy Limited.
Major Clients Handled-
IT Sector:
Statutory audit of:
MphasiS Limited (HP Company) & it’s subsidiaries for continuous 12 quarters. Major highlights were:
• Independently handled Audit and review of Revenue & its related accounts, segment analysis, profitability analysis, investment, fixed assets etc. & reported the findings to manager and partner.
• Consolidation of 17 subsidiaries,
• Financial statement review, Clause 41 disclosure and management letter.
• Assisted manager in preparation of Audit Committee presentation.
Subsidiaries of MphasiS Limited including:
• Opening balance of subsidiary acquired.
• Statutory audit of overseas subsidiaries in Singapore and U.K. where in applied the principles of IFRS and interacted with overseas offices for finalisation of financial statement.
• Tax audits
Manufacturing Sector:
Statutory Audit and group audit (under IFRS) of American Power Conversion (I) Pvt. Ltd. (Schneider Electric Company) for continuous 3 years. Major highlights were
• Financial statement review and variance analysis,
• Audit and review of inventory, fixed assets, revenue etc
• Excise duty and other tax related assets and liabilities.
• Audit of reconciliation of two sets of accounts maintained in Oracle (in USD) and Tally (in INR).
Limited Review for Buhler India Private Limited
Statutory audit of Alltech India Private Limited
Notables-
Recommendations made on the basis of Audits by providing management letter to the clients.
Took initiatives to minimize portfolio risk by highlighted risk in the control risk and business risk to the client & partner.
Provided assistance to seniors and managers in preparing the audit report and other deliverables like variance analysis, financial statement quality check, management letters, etc.
Efficiently achieved target in strict deadlines.
Major Clients Handled-
IT Sector:
Statutory audits of:
Sobha Renaissance Information Technology Private Limited.
ILANTUS Technologies Private Limited.
Manufacturing Sector:
Statutory audit of:
Titan Industries Limited (listed company), where field senior for region office south & was part of team member for other work consolidation for other region, ARP including quantitative analysis, cash flow statement and other of Titan Group.
Grasim Cement (Bangalore) Division (Aditya Birla Group).
IFB Automotive Private Limited (Group company of IFB Limited).
Limited review of:
ITC tobacco division and foods division ITC Limited (Listed Company).
Group of Tea Estate Company (Listed Company)- Matheson Bosanquet Enterprises Limited, The Coonoor Tea Estate Company Limited, Lucky Valley Investments & Holdings Limited.
Sandur Manganese & Iron Ores Ltd. (Listed Company).
Audit Planning for Apotex Pharma Chem Private Limited.
Group audit of Von Roll Group of company: Pearl Metal Products (Bangalore) Private Limited, Pearl Insulations Private Limited & Von Roll (India) Private Limited.
Vagai Thread Processor India Private limited- Unit of Madura Garments.
Realestate & Retail Sector:
Statutory audit of Prestige Estate Project Private Limited (PEPL) & Prestige Amusement Private Limited (PAMPL), where for PAMPL was field senior & for PEPL was part of the team.
LG Electronics India Private Limited for Bangalore and Hubli Division.
Trust & Others:
Statutory audit for Accion Technical Advisors India (The company) registered under section 25 of the companies act, 1956 .i.e. company involved in micro finance to poor people.
Fund Audit of Karnataka Health Promotion Trust.
Statutory audit of Corporate Migration Services Private Limited.
Notables-
Efficiently achieved targets while working under strict deadlines.
Gave advise to clients on accounting and industry developments; recommended improvements to the presentation of financial statements and proposed business performance improvement initiatives.