أناند مافاني

Head of Finance | Tawuniya Insurance Co. | Jul 2019 - Current | Team: 75
Riyadh, Saudi Arabia

Right hand to strategic focused CFO & CEO on all financial matters, responsible to implement best practices within all back office and support services functions along with overhaul of current policies and procedures to align with company’s strategic plan. Work with all BUs for streamlined and timely financial reporting along with working on corporate allocations and overall financial management. Drive continuous improvement in arear of systems, projects, operations, transformation, reporting, taxation, regulatory reporting (SAMA) and overall skills & people management.

Key Achievements & responsibilities

• Settled WHT liability with tax department (DZIT) to add over SR 120m straight to the bottom line with company achieving tremendous YoY financial success (FY 2019).
• Timeline IFRS 17 accounting standard implementation along with selection of appropriate PMC firm and optimize current business systems.
• Re-align finance teams to best suit business requirements and assign appropriate job descriptions.
• Establish working capital management to optimise cash utilisation and meet all of company’s cash needs.
• Clear legacy balances since FY 2016 with appropriate write-off procedures and map systems for nonrecurrence, the company now having a clean and strong balance sheet position.
• Implement robust CAPEX projects, mainly on strategy and initiatives, to be in line with accounting standards and optimise P&L.
• Lead is of claims management, reserves/provisions, pricing, receivables, cost reduction, cash management, solvency levels and overall business planning exercise.

Finance Director, VP | Parsons Corporation | Apr 2015 - Jun 2019 | Team: 15
Riyadh, Saudi Arabia

Finance Director (Promoted)

As Finance Director, Vice President designate and authorised company officer, I am accountable and responsible for overall Finance and accounting of Parsons Corporations JV in Saudi Arabia. As part of the senior management team, I work directly with the relevant department heads and project managers to ensure overall profitability, cost control, and cover all risks adequately. Work along opportunities around M&As, Business strategy & planning and lead all pricing efforts.

Key Achievements & responsibilities

• Effectively driven and overseen financial growth of regional operations, over 20% revenue and 15% NOI growth YoY for the years 2016, 2017 and 2018
• Growing with sales pipeline and ensuring backlog fulfilment for continued and sustained business by pricing and building winning commercials.
• Collected over 3 years of outstanding cash/receivables in Saudi Arabia during oil downturn with persistent and patient approach, eventually remitting to shareholders in windfall dividend payments.
• Implement IFRS 15 (ASC 606) and IFRS 16 (ASC 842) accounting standard changes and manage impact for overall middle east operations.
• Established credit facilities with 2 major banks with access to over SR 200m (US$ 53m) in various product types.
• Achieve a DSO (Days Sales Outstanding) of 11 days as at end of FY2017, 51 days in FY2018.
• Renewal of major contract valued at SR 1.9b (US$506.6m), with new contracts won valued over SR 1b (US$375m)
• Overall cost reductions from fringe and other day-to-day savings providing over 15% margin over revenue.
• Cost savings exercises to provide competitive bids, realign how cost is captured and other methods saving over 10-30m every year.
• Streamline processes and procedures to enhance efficiencies using computer based learning techniques and adding value to the overall business.
• Building a skilful team of accounting professional and successfully implementing finance internship program.
• Management of overall financial & commercial aspects of Saudi Arabia & MEA business - monthly close, reconciliations, consolidations, inter-company, JV accounting, tax & reporting, quarterly reporting to the Board of Directors, yearly statutory reporting.
• Oversee performance aspects, financial & commercial, for major project like Riyadh Metro, Ministry of Housing KSA, Royal commission of Yanbu & Jubail, PIF Qiddiya Mega project, MODON, NWC, Saudi Aramco SPARK & Maritime park and others.
• Subject Matter Expert (SME) for risk, legal, financial & commercial matters on all bids & proposal. Regular participation and decision making for all bids within Infrastructure like Rail, Roads, Bridges, greenfield developments, design & engineering works, PMCM, CS, PMO and other areas.
• Collaboration of yearly business plan as part of rolling 5-year plan; review the same during the year to track company profitability.

Finance Manager (Apr 2015 - Mar 2016)

Appointed as Finance Manager, responsible for day-to-day activities of all finance and accounting functions of Parsons in Kingdom. Brought in to implement policies & procedures and restructure various elements of operations.

Key Achievements & responsibilities

• Streamlining of processes and procedures to enhance efficiency, now the staff have more time on their hands to take other work on. Processes streamlined where day to day activities like banking, AP and AR bookings, payroll, accruals, and balance sheet reconciliations.
• Achieved the goals in being compliant with the corporation needs like SOX submissions and other audit requirements.
• Provision of analysis around Sick Leave to save on company’s fringe expenses, now achieving a downward trend in sick leave utilization.
• Eliminate various positions within Finance and other departments and create efficiencies by implementing robust processes and managing change.

Senior Management Accountant | LTT Group Pty Ltd | Jan 2015 - Apr 2015 | Team: 3
Perth, Australia

Senior Management Accountant

I was employed for the short-term period to lead the finance functions of this small medium enterprise in the education and training sector. Reporting to the directors and working on providing financial visibility to the hands-on company directors who were masters in their trade.

Key Achievements & responsibilities

• Provided insights to the organisation on how to optimize the use of government grants and marketing training courses, effectively growing top line by 30%, bottom-line by 25% and enhanced working capital.
• Introduction of dashboard reporting to empower the director by having ready visibility of their business and support decision making.
• Cleared a backlog of tax and compliance matters like payroll taxes, ASIC reporting and corporate tax which lingered for over 5 years.
• Made in-roads, along with the CEO, to drive savings across the business by way of payroll & IT outsourcing and negotiating long standing suppliers/vendor agreements achieving more than $0.5m a year saved.
• Provided meaningful report to management which would report as per regions operated and sector/training program-based profits made.

Financial Controller | Resource Equipment Ltd | Jun 2012 - Dec 2014 | Team: 8
Perth, Australia

Financial Controller (Promoted)

Recruited as Commercial Analyst which was a newly created role to work along with the CEO to focus on company’s strategic growth, was promoted to take the greater role of Financial Controller EOM financial reporting & analysis along with ownership of Statutory reporting requirements for the stock exchange listed company. The company operated in the core Australian mining and oil & gas sectors specialising in dewatering, power generation, pipelines and others and is now known as NPE pumps and is no longer listed.

Key Achievements & responsibilities

• Re-modelled EoM reporting structure by having more meaningful reports with graphical representation and comprehensive commentary.
• Dashboard report for revenue and cost steam managers to empower them and make them meet their individual KPIs, auxiliary, achieving overall company targets.
• Raising debt funding (collateral based) of A$25m, this brought in much needed cash along with reducing cost of capital to the business.
• Streamlining billing process by creating efficiencies on how information is received from the field, in-turn, bringing the companies DSO down and creating positive working capital situation.
• WIP (work in progress) / VOWD (value of work done) reporting to so progress on various CAPEX, OPEX and billable activities and recognise correct revenue.
• Provide with ratio analysis to management on internal as well as external aspect by benchmarking, competitor analysis, overall industry analysis and commodity price effect analysis.
• Controlling duties for the company - AP/AR management, review fortnightly payroll, all treasury activities, ensure all risk management and mitigation is in place by way of insurance and other aspects, hire-purchase loan management, maintain integrity of company reports and chart of accounts, ensure all tax (BAS, Payroll tax, PAYG) compliance are met and other related financial aspects.
• Oversee and monitor financial and commercial aspect of major project like Roy Hill mining, Gorgon gas project, various BHP, Rio Tinto, FMG mining projects and other similar works in the mining and oil & gas sector.
• Preparing monthly management report and put together monthly board pack. Also prepare (for CFO) yearly and half yearly statutory report for stock exchange reporting and other releases for market announcements.
• Manage company’s ERP as a super user and drive continuous improvement and manage change.
• Review of all pricing and estimates and ensure profitability is maintained and all risk are covered.

Commercial Analyst (Jun 2012 - Jan 2013)

As Commercial Analyst, which was a newly created role, I was working with the CEO to focus on company’s strategic growth. Working with various cost centre heads to focus on cost reduction and creating efficiencies along with revenue maximization by focusing of profit markets in each geographical sector and revenue streams.

Key Achievements & responsibilities

• Worked along with the sales team to review margins of sales, contracts, projects, and tenders.
• Derived models to price an opportunity which was used by Business Development Team to get new business. Models provided margin analysis, ratio analysis, contract revenue, and other helpful information.
• Market relevant analysis - Competitor analysis, sector analysis, commodity price effect analysis etc
• Implemented cost dashboards for cost centre managers for live review of their cost vs forecast.

Senior Financial Accountant | Curtain Bros PNG | Jan 2012 - Jun 2012 | Team: 23
Port Moresby, Papua New Guinea

As a Senior Financial Accountant (Expat) my activities and responsibilities range from generic accounting entries to close of yearly books to liaising with banks as well as stakeholder reporting and so on. The role basically turned to become system implementation oriented as the company was upgrading to Microsoft Dynamics Navision and I spearheaded this project. The company had major interests in building & construction, dockyard operations, asset-for-hire to name a few.

Key Achievements & responsibilities

• Successful deployment of company ERP throughout the entity - Microsoft Dynamics Navision. Complete mapping of the system as per company requirements. Ensuring COA is as required, also workflows through the system regarding approvals and various other system architecture.
• Implementation of EOM reporting process, which was non-existent, this enabling a cost saving drive as the management now had an insight to the business. Also introduced project reporting for progress claims management and introduced CAPEX reporting.
• Implement inventory management system. Implemented workflow driven purchasing, also, implemented invoice matching methodologies - receipting of goods (delivery note), matched to the relevant PO and invoice as part of AP entry.

Group Accountant | Redset Group Pty Ltd | Nov 2010 - Jan 2012 | Team: 10
Perth, Australia

As the Group Accountant, I was part of the senior management team of 3 and worked alongside the Managing Director and the General Manager and oversaw Finance, HR, IT, Operations and Marketing department. Started working as a Senior Accountant whilst the company traded as a retail shop. Got promoted after 4 months along with the company’s aspiring growth plans. Redset Group was one of Australia’s leading distributor of Solar products across the length and breadth of the country with branches in major Australian cities, currently this organisation is not operating.

Key Achievements & responsibilities

• Successfully took the company from a retail operation ($14m turnover) to a major distributing wholesaler with an annual turnover more than $70m.
• Overseeing and managing opening of new branches/warehouses in major capital cities of Australia with support in office infrastructure, finance requirements, hiring of personnel and local contracts management.
• Working with external suppliers of freight and establishing long term contracts with a savings of circa $800, 000 per annum enabling the organization to market the products effectively.
• Developed a companywide workflow flowchart which provided insights on all roles and their requirements. The flowchart provided how and when a role is activated to perform a duty to enable the smooth flow of all business process.
• Lead and manage all financial function for the organization, i.e., treasury, financial reporting, external & statutory reporting, foreign exchange management, taxation planning & management, cash flow management.
• Manage energy trading and ensure all liability is covered.
• Manage and oversee all importation of products from China and Europe.
• Manage and oversee the IT and operations department and ensure all planning with relation to inventory management is in place, manage a team of 8 direct accounting staff.
• Provide corporate and executive support throughout the organization.
• Manage continuous improvement program by ensuring quarterly KPIs have met.

Project Accountant | SRK Consulting Pty Ltd | Oct 2008 - Nov 2010 | Team: 0
Perth, Australia

Responsible for overall performance reporting of all projects with appropriate commentary on variances. Reporting to the CFO, I was responsible to consolidate all project accounting to the group and produce periodic reports. SRK Consulting is an independent, international consulting practice providing focused advice and solutions to the earth and water resource industries. For mining and petroleum projects, we offer services from exploration to mine closure, and exploration and production services to the oil and gas industry.

• Preparation of monthly, quarterly and annual management accounting reports and financials. Automated the monthly reports with PM dashboards using Microsoft reporting services to empower them with having live data on click of a button.
• Supporting and setting up Indonesian and China practices and ensure correct accounting procedures and adopted. Accurate history loading and other expenses to projects.
• Work closely to monitor and oversee commercial and financial aspects of project in the mining sector for organisations like Rio Tinto, BHP, FMG, Atlas Iron and otehrs.
• Manage and process all transactional entries and payroll entries into the ERP
• Project accounting duties including monthly project invoicing
• On charge of man hours and On charge of expenses incurred on projects
• Project setup as per contractual agreement; budgeting, project profitability analysis and margin analysis
• Ensure all project data is correctly allocated, i.e., Man hours, expenses, software and other on-charges.

Branch Accountant/Administrator

• Manage branch debtors, creditors and payroll
• Deal with branch insurances and workers compensation claims
• Liaison with head office accounting team on a daily basis
• Take of all branch administration needs
• Daily job costing management with operations

Team Leader

• Managing a team on 18 individuals.
• Daily reporting of sales and other aspects of calls to the group leader.
• Various motivational activities for the team to boost up sales.
• Extensive communications with Microsoft (client) US on various aspects of business and expectations.

Manager

• Entire accounting for the company from Trial balance, Profit and Loss to Balance Sheet. Managing all the debtor accounts.
• Petty Cash management, Banking. Managing a team of 5 members.
• Weekly and monthly reporting to the partners.
• Online trading of shares and derivatives on the NSE and BSE (Indian stock exchanges).
• Managing the transfer of stocks and shares in demat and traditional formats.