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Francis Fernandes, Vice President

Francis Fernandes

Vice President·Etisalat Head Office

United Arab Emirates

Master's degree, Business Management

Work experience

Total years of experience: 32 years, 4 months

Vice President

December 2010 - August 2014

Etisalat Head Office

December 2010 - August 2014

Vice President - Group Finance - Etisalat Head Office (Dec 2010 - Current)
Reporting to the Group CFO and heading the Policies & Compliance & Revenue Assurance & Fraud Management
played leading key roles main highlights of which are as follows: • Supported development of first Group Accounting & Finance Manual and successfully obtained Board Approval after endorsement from all Finance & Internal Audit stakeholders.
• Developed Group Devolution of Powers and later supported development of Decision Rights Document for successful endorsement for final approval by the Board.
• Developed Revenue Assurance & Fraud Management Framework and Roadmap and timely execution with key
KPIs & Supervised development and implementation of Best Industry Practices at OPCOs.
• Achieved excellence in creating value to OPCOs through Revenue Enhancement of about AED 200 Million.
• Supported Evaluation of Tenders and other Projects from Financial Evaluation perspective.
Managing Director - Rogers Business Consultants Inc- Canada - (Self Employed Consultancy Business)
As Managing Director and Principal Consultant played leading key roles highlights of which are as follows: Internal Control - Internal Control over Financial Reporting Project - Purolator
Company industry:
Telecommunications
Job role:
Management

Internal Control & Enterprise Risk Management

December 2007 - April 2010

Subsidiary of Canada Post and Canada's

United Kingdom

December 2007 - April 2010

(Subsidiary of Canada Post and Canada's largest courier company) Mississauga, (Dec 07 - April 10)
• Successfully designed and developed INTERNAL CONTROL, Sarbanes-Oxley (SOX) framework based on Top-
Down Risk Based approach.
• Carried out Internal Control & Enterprise Risk Management reviews including performing Fraud Risk Assessment with various finance & operating departments and other stakeholders to identify high risk areas and developing key
internal controls to mitigate the risks.
• Developed Entity Level Controls based on COSO framework and Corporate Governance principles to ensure that
appropriate "Tone at the Top" is reflected in the Internal Control philosophy.
• Developed Process Documentations for significant processes, identified weaknesses in the processes, designed Key
Controls, performed walk-thru activity, Tested Key Controls and developed Deficiency Tracker Database.
• Training Manuals and significantly contributed to the corporate-wide SOX communication project. Successfully
lead the preparation of Reports for the Audit Committee, Senior Management & Holding company Stakeholders.
Job role:
Accounting and Auditing

Director - Management Information

September 2005 - May 2007

CIBC Bank

Canada

September 2005 - May 2007

Director - Management Information - CIBC Bank, Toronto, Canada (Sept 05 - May 07)
As a Key Member of the Control Division of one of Canada's largest bank, major accomplishments were as follows: • Developed and implemented Key Management Reporting requirements on the Internal Controls, Processes,
Controls Testing, Deficiencies and Action Plan results.
• Advised Senior Executive Management and Stakeholders the key trends and best practices in Internal Controls and
Remediation of Deficiencies.
• Successfully liaised with Internal Clients using effective process to track and facilitate remediation of Internal
Control Deficiencies, leveraging SOX knowledge and relationship skills.
• Added key value to the SOX automation project as Internal Project Manager for successfully converting the manual
based Internal Control and Deficiency Management system into web-based ICR (Open Text) System.
Company industry:
Banking
Job role:
Accounting and Auditing

Director - Financial Reporting

July 2001 - August 2005

Sprint Canada Telecom Ltd

Canada

July 2001 - August 2005

Director - Financial Reporting - Sprint Canada Telecom Ltd/Rogers Toronto Canada (July 01 -August 05)
As a Key Finance Member of the Sprint Canada, which was subsequently bought by Rogers Communications, major
achievements were as follows: • Played a key role in the acquisition negotiation in the area of financial and legal matters.
• Successfully complied with reporting and filing requirements for Securities and Exchange Commission both Canada and USA and as per Canadian and US Generally Accepted Accounting Principles (GAAP)
• Headed the project for creation of Entity Level Controls and Corporate Governance best practices.
• Carried out comprehensive review of Corporate Governance practices at the subsidiary offices and identified
deficiencies and recommended remedial actions.
• Reviewed M&A proposal and performed comprehensive due diligence analysis and submitted report to the Holding
company management.
• Designed and Created innovative Financial Reporting process for Audit Committee and Senior Stakeholders.
Job role:
Accounting and Auditing

CFO

July 1996 - March 2001

Thuraya Satellite Telecommunications Company

United Arab Emirates

July 1996 - March 2001

CFO - Thuraya Satellite Telecommunications Company (July 96 - March 01)
Promoted and transferred to Thuraya Project as Financial Member of Etisalat high level Key Management Team. The
position demanded leadership in all key fields associated with Financing via Equity and Debts, Startup structure,
Accounting Policies, Finance, and Budgets, setting up Internal Control structure, Special Projects Financial Evaluation,
Strategic Planning and Management Reporting.
• Played a significant role as Key Finance Member in Financial Evaluation and Risk Management of various
Special Projects, launching of new services/products and made significant contribution to the decision-making
process with effective optimal financial solutions.
• Successfully worked with Business Units and created robust Business Plan with comprehensive sensitivity analysis,
including developing KPIs (Key Performance Indicators) and created tracking system for effective control.
• Played a key leading role in financial negotiations and due-diligence exercise, working closely with the
Investment Bankers leading to successful signing of US$ 600 Million Debt Finance facility.
• Successfully developed Financial & Operational Business Process Internal Control System and followed up on the incorporating in the implementation of Oracle based ERP platform.
Company industry:
Telecommunications
Job role:
Accounting and Auditing

Director - Financial & Management Accounts

July 1990 - July 1996

ETISALAT- Sharjah

July 1990 - July 1996

Director - Financial & Management Accounts - ETISALAT- Sharjah (July 90 - July 96)

Transferred to West Coast Branch to head Finance and Management Accounting Department and reporting to the
Branch Accountant and Corporate Manager Finance, the accomplishments in this key role were as follows: • Supervised all financial accounting matters including creation of Monthly Financial & Management Reports
• Successfully implemented Cash Management and Billing Control system for effective internal control
• Prepared all Reports for submission of Monthly Operations Meeting and for submission to Head Office.
Company industry:
Telecommunications
Job role:
Other

Financial Accountant

June 1988 - June 1990

ETISALAT H.O

June 1988 - June 1990

Financial Accountant - ETISALAT H.O. (June 88 - June 90)
Promoted and appointed to head Financial Accounting Department and reporting to the Head Office Accountant and
Corporate Manager Finance, the accomplishments in this key role were as follows: • Supervised payments to Suppliers, Telecom Carriers and maintained adequate control on Head Office Payroll.
• Successfully implemented Cash Management System with comprehensive control on the Funds Deposits with the
UAE Banks based on Optimum Return on Funds and complying with stringent Board Guidelines.
• Maintained control on the Telecom Tariff Rates and performed financial evaluation of Major Contracts.
Job role:
Accounting and Auditing

Internal Auditor

March 1983 - May 1988

ETISALAT H.O

March 1983 - May 1988

Internal Auditor - ETISALAT H.O. (Mar 83- May 88)
Reporting to the Chief Internal Auditor performed the following functions.
• Independently handled Financial, Billing and Operational Audits, including successfully leading Billing Fraud
Investigation Assignments, investigated major Billing Discrepancies.
• Significantly contributed to the Internal Control Review/Work Flow documentation and identified areas of Internal
Control weaknesses and recommended measures to strengthen Process Internal Controls
• Made a key contribution as Internal Audit Member covering the assignments such as Rationalization & Optimizing
Carrier Costs, Review of Long Distance Billing & Reconciliation with Gateway Traffic and recommended
innovative solutions resulting in enhanced margins and lowering of revenue leakage levels.
Job role:
Accounting and Auditing

Audit Manager

January 1981 - February 1983

AF Ferguson & Company - Chartered Accountants

India

January 1981 - February 1983

Audit Manager - AF Ferguson & Company - Chartered Accountants, Mumbai, India, (Jan 81 - Feb 83)
Joined AF Ferguson, the highly ranked audit firm in India, following completion of Chartered Accountant
qualifications and reporting to the Engagement Partner successfully carried out the following tasks.
• Independently handled audits of large blue chip companies and Banks based in Mumbai, India.
• Reviewed and appraised internal control systems both in the area of accounting and operations and recommended measures to strengthen management control over financial accounting and reporting.
Job role:
Accounting and Auditing

Education

University of Bradford

July 1998

July 1998

Master's degree, Business Management

United Arab Emirates

Institute of Chartered Accountants of India

November 1981

November 1981

Master's degree, Auditing

India

Karnataka University

July 1979

July 1979

Bachelor's degree, Laws

India

Karnataka University

July 1977

July 1977

Bachelor's degree, Commerce

India

Skills

Internal Audit
Expert
Internal Audit
Expert
Board Level
Expert
Board Level
Expert
Financial Reporting
Expert
Financial Reporting
Expert
Sarbanes Oxley
Expert
Sarbanes Oxley
Expert
Internal Controls
Expert
Internal Controls
Expert
ACCOUNTANT
Expert
ACCOUNTANT
Expert
ACCOUNTING
Expert
ACCOUNTING
Expert
AUDIT
Expert
AUDIT
Expert
BILLING
Expert
BILLING
Expert
FINANCE
Expert
FINANCE
Expert
FINANCIAL ACCOUNTING
Expert
FINANCIAL ACCOUNTING
Expert
INTERNAL AUDIT
INTERNAL AUDIT
INTERNAL CONTROLS
INTERNAL CONTROLS
MILLION
MILLION
SOLUTIONS
Expert
SOLUTIONS
Expert
Internal Audit
Expert
Internal Audit
Expert
Board Level
Expert
Board Level
Expert
Financial Reporting
Expert
Financial Reporting
Expert
Sarbanes Oxley
Expert
Sarbanes Oxley
Expert
Internal Controls
Expert
Internal Controls
Expert

Languages

Hindi
Expert
English
Expert

Memberships

Senior Management & Board Level Experience - Board Member of Etisalat Technologia Company

Board Member

August 2010

As a Key Member of the Control Division of one of Canada's largest bank, major accomplishments were as follows

Member

July 2005

As a Key Finance Member of the Sprint Canada, which was subsequently bought by Rogers Communications, major

Member

July 2004

Promoted and transferred to Thuraya Project as Financial Member of Etisalat high level Key Management Team. The

Member

July 1996

Played a significant role as Key Finance Member in Financial Evaluation and Risk Management of various

Member

January 1994

Made a key contribution as Internal Audit Member covering the assignments such as Rationalization & Optimizing

Member

July 1988