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Ajith Ramadasan, Chief Financial Officer

Ajith Ramadasan

Chief Financial Officer·Al Reem Hospico

United Arab Emirates

Master's degree, Accounting

Work experience

Total years of experience: 29 years, 3 months

Chief Financial Officer

July 2020 - Present

Al Reem Hospico

Al Ain, United Arab Emirates

I found this job using Bayt.com

July 2020 - Present

•Studied and identified potential acquisitions and prospective ventures within the industry.
•Designed, implemented and monitored internal controls for the purpose of ensuring strict compliance ad protecting the integrity of company’s assets.
•Determined operational feasibility of the software by evaluating analyses, problem definition, discussed requirements, solution development with SAP consultant and proposed solutions.
•Undertook responsibility for data migration and conversion activities such as extraction, transformation, migration, validation and reconciliation of data.
Company industry:
Installation & Technical Services
Job role:
Management

Head of Accounts and Finance

February 2015 - April 2020

Fujairah Rockwool Factory (subsidiary of Fujairah Building Industries PJSC)

Fujairah, United Arab Emirates

I found this job using Bayt.com

February 2015 - April 2020

•Analyzed COGS and margin reports & variances on different product lines of the factory providing the profit analysis and reviewed capacity utilization
•Prepared annual budget and business plans for initiatives to increase sales and savings in cost of production
•Reviewed operating results, compared with budget and performed comprehensive variance analysis and determined the root cause for significant variances
•Ensured VAT compliance, checked VAT reconciliations, filing of tax returns and tax payments on time
•Coordinated with bank to ensure availability of finance facilities for working capital to ensure smooth business operations and AED 89 million Medium Term Loan for capital expenditure and controlled Capex spend
•Examined, advised and amended Letters of Credit and trade documents for adherence to LC terms in accordance with UCP 600
•Coordinated with IT Department to resolve system integration issues in the ERP modules and efficiently managed the month end closing cycle
•Performed profitability analysis for different product mix for major projects at various price levels and productivity level
•Acted as the liaison with bankers, insurers, auditors, government agencies regarding financial transactions
Company industry:
Heavy Industry & Metallurgy
Job role:
Accounting and Auditing

Deputy Group Finance Manager

September 2012 - January 2015

Fujairah Building Industries PJSC

Fujairah, United Arab Emirates

September 2012 - January 2015

•Led the corporate finance team supporting CEO and Group Finance Manager. Member of the senior management team responsible for strategic planning.
•Supported senior managers to understand individual income streams and the budget process by providing analyses and evaluations in review meetings
•Provided decision support to senior management including unit General Managers - advised on the financial implications and consequences of business decisions
•Developed finance team to drive disciplined growth and strengthen controls
•Reviewed and consolidated financial statements of five factories and reported quarterly performance as per Securities and Commodities Authority requirements
•Participated actively in monthly management meetings, strategic business meetings and contributed with inputs and analyses
Company industry:
Manufacturing
Job role:
Accounting and Auditing

Consultant

January 2009 - August 2012

Own Consultancy

Dubai, United Arab Emirates

January 2009 - August 2012

•Includes streamlining the Accounting Department of a property development company with major development projects
•Reviewed Income Statements, Balance Sheets and Cash Flow Statements
•Designed and generated accurate management reports, statistical reports and provided management with analyses and recommendations
•Trained staff to prepare budget, analyzed closely actual costs with the budgets and rolling forecasts
• Monitored contractors billing, payments from Escrow Accounts, ensured compliance of relevant regulations and recommended processes to check consultants’ Project Status Reports adhered to the terms of contract
Company industry:
Accounting
Job role:
Accounting and Auditing

Financial Controller

July 2007 - October 2008

Faithful + Gould (subsidiary of Atkins plc)

Dubai, United Arab Emirates

July 2007 - October 2008

Headed Accounting and Finance functions of the company with projects in UAE, Qatar, Oman and Saudi Arabia with three divisions - Project Management, Commercial Services and Consulting.
•Monitored closely profitability of large projects, advance payments, billing and collection processes - analyzed cost escalations and explored potential problems with project managers
•Analyzed financial statements, key ratios including productivity, return on Productive Staff Cost and trends to draw future forecasts
•Established overhead recovery rates on projects to ensure that the forecasts are accurate and the charge out rates generated expected returns
•Effected reduction in overheads by controlling enquiry costs and other expenses
•Coordinated and maintained arrangements for the accurate assessment of accruals including the provision of robust analysis of key variances and monitored costs continuously to ensure that they are within the allotted limits and proper approvals are in place for any variation
•Ensured smooth cash flow and closely monitored Performance Bonds
•Reviewed the Project Summary Reports and challenged Project Managers on the costs to complete and the accuracy of forecast
Company industry:
General Engineering Consultancy
Job role:
Accounting and Auditing

Finance Manager

January 1999 - May 2007

Informa Middle East (Middle East division of Informa plc, FTSE 100 constituent)

Dubai, United Arab Emirates

I found this job using Bayt.com

January 1999 - May 2007

Headed Accounting and IT functions of the company with three profit centers. Contributed to turnaround of a loss-making division to a profitable one through feasibility study of conferences and events, cost reduction, identification of low-margin events and opportunities for high-yield conferences, sponsorships and managed events. Record of 100% clean audit reports during tenure. Received an award for best reporting in terms of timeliness and accuracy across the group.
•Performed in depth analysis & costing in arriving at viability of new events, joint ventures and repeat conferences
•Liaised with bank and coordinated with treasury to maintain smooth cash flow and controlled finance cost
•Reconciled, agreed, netted and settled inter-company balances with respective branches / group treasury and resolved issues with counter parties
•Ensured proper accrual of commitments and allocation of prepaid expenses for responsible departments and ensured that expenses are captured to the right projects
•Migrated successfully all accounting data from Sage Line 100 to CODA software which included accounts mapping, validations and reconciliations
•Prepared the income statements and balance sheets and met management reporting deadlines in monthly cycles
Company industry:
Media Production
Job role:
Finance and Investment

Chief Accountant

September 1996 - November 1998

Sunmarine Shipping Services

Dubai, United Arab Emirates

September 1996 - November 1998

Designed exception reports and generated MIS reports on a need basis to highlight the information that needed management attention. Implemented the accounting and reporting system for a new line of business started by the company.
•Supervised general ledger, accounts payable and accounts receivable functions - ensured disbursements are captured properly
•Coordinated closely with cost centre managers to provide a comprehensive accounting support service, including the provision of financial information and flash reports to senior management
•Performed sector wise cost and utilization study and persuaded management to review existing arrangement for slot costs
TRAINING
•Professional training in Auditing with a Public Accounting firm and Cost & Management Accounting training in a manufacturing company in India.
Company industry:
Shipping
Job role:
Accounting and Auditing

Education

Madurai Kamaraj University

January 2011

January 2011

Master's degree, Accounting

India

University of Kerala

January 1986

January 1986

Bachelor's degree, Mathematics

India

Skills

Microsoft Excel
Expert
Microsoft Excel
Expert
Strategic Management
Expert
Strategic Management
Expert
Risk Analysis
Expert
Risk Analysis
Expert
Cash Flow Management
Expert
Cash Flow Management
Expert
Financial Management
Expert
Financial Management
Expert
Management Skills
Expert
Management Skills
Expert
Analytical Skills
Expert
Analytical Skills
Expert
Cash Flow Management
Expert
Cash Flow Management
Expert
Financial Reporting Skills
Expert
Financial Reporting Skills
Expert
ERP Skills (Oracle, JD Edwards, SAP, Sage, Hyperion etc)
Expert
ERP Skills (Oracle, JD Edwards, SAP, Sage, Hyperion etc)
Expert
Leadership Skills
Expert
Leadership Skills
Expert
Financial Statement Analysis
Expert
Financial Statement Analysis
Expert
Accounting Skills
Expert
Accounting Skills
Expert
Management Accounting Skills
Expert
Management Accounting Skills
Expert
Advanced Excel Skills
Expert
Advanced Excel Skills
Expert
Accounting
Expert
Accounting
Expert
Financial Management
Expert
Financial Management
Expert
Management
Expert
Management
Expert
Mathematics
Expert
Mathematics
Expert
CMA
Expert
CMA
Expert

Languages

English
Expert

Training and Certifications

Certifications
Chartered Accountant (ACA): Institute of Chartered Accountants in England and Wales
Jul 2021
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Certified Public Accountant (CPA) issued by Washington State Board of Accountancy, USA
Apr 2004
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Certified Internal Auditor (CIA) issued by The Institute of Internal Auditors, USA
Nov 2002
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Certified Management Accountant (CMA) issued by Institute of Management Accountants, USA
May 2001
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