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Karan Vasa, Group Head of Finance

Karan Vasa

Group Head of Finance·FALCONS

United Arab Emirates

Higher diploma, Finance And Auditing

Work experience

Total years of experience: 17 years, 5 months

Group Head of Finance

November 2024 - Present

FALCONS

Dubai, United Arab Emirates

November 2024 - Present

- Managing a portfolio of 13 companies
- Achieved over AED 3mn+ in tax savings through effective planning and execution
- Designed concise one pager KPI for the Board to drive high level decision making
- Led the group-wide implementation of budgeting, forecasting, and variance analysis frameworks, achieving a 9% reduction in overall costs
- Built monthly performance dashboards with a complete breakdown of category wise revenue, COGS, category / product wise profitability, expenses, inventory margins, cash flow & budget vs actuals
- Led the integration of Shopify, Stripe, Magnati, Tabby & Tamara with the finance system
- Developed financial models to support strategic planning & data driven decision making
- Formulated financial projections & valuation model for investors
- Delivered actionable insights and recommendations to the Board on the financial performance of the company, focusing on key drivers including profitability models
- Collaborated with cross-functional teams to align departmental budgets, optimize pricing strategies, and convert business plans into actionable financial outcomes
- Managing regulatory and financial reporting compliance across ADGM, Free zone and mainland companies
- Heading the overall finance, accounting process/systems, audit, tax, and treasury functions IFRS
- Establishing & maintaining relations with Banks, Payment Gateways, and Auditors
Company industry:
Watches & Luxury Goods
Job role:
Finance and Investment

Chief Financial Officer CFO

November 2022 - November 2024

FLAUNTE PORTAL LLC

Dubai, United Arab Emirates

November 2022 - November 2024

 Successfully raised interest-free debt funding from the Dubai government
 Formulate budgets, forecasts and variance analysis and subsequently provide
recommendations to CEO
 Provide insights and recommendations on the financial performance of the company,
focusing on key drivers including profitability models
 Responsible for chalking out financial & revenue strategies for the overall business
growth
 Automating financial processes & designing financial ERP
 Heading the overall finance, accounting process/systems, tax, HR, and treasury
functions
 Building financial models and providing complete analysis for strategic decision making
& planning
 Building valuation model, term sheets and pitch decks for investors
 Conducting market research in Beauty, Fitness & Wellness industry
 Planning, documentation & E-filing of VAT & Corporate Tax returns
 Establishing & maintaining relationships with Merchants, Payment Gateways, Auditors
& Bank
 Reviewing legal & commercial contracts to ensure smooth business operations
Company industry:
IT Services
Job role:
Finance and Investment

Finance Manager

July 2021 - November 2022

FLAUNTE PORTAL LLC

Dubai, United Arab Emirates

July 2021 - November 2022

 Formulate budgets, forecasts and variance analysis and subsequently provide recommendations to CEO
 Provide insights and recommendations on the financial performance of the company, focusing on key drivers including profitability models
 Responsible for chalking out financial & revenue strategies for the overall business growth
 Heading the overall finance, accounting process/systems, tax, HR, cash and treasury functions
 Building financial models and providing complete analysis for strategic decision making & planning
 Planning, documentation & E-filing of VAT returns
 Establishing & maintaining relationships with Merchants, Payment Gateways, Auditors & Bank
 Reviewing legal & commercial contracts to ensure smooth business operations
Company industry:
IT Services
Job role:
Accounting and Auditing

Finance Manager

July 2020 - June 2021

RNT General Trading LLC

Dubai, United Arab Emirates

July 2020 - June 2021

 Timely Analysis and monthly reporting of financial performance to CEO and
stakeholders
 Planning, Budgeting, Financial forecasting and MIS reporting for all stakeholders
thereby producing long term business plans.
 Initiate and implement tight internal control regarding vendor payments and
commercial contracts
 Preparing & Forecasting overall cash flow to ensure sufficient liquidity and ensuring
timely collection of payments. (Trade Receivables)
 Planning, documentation & E-filing of VAT Returns
 Preparing and maintaining P&L and Balance Sheet projections
 Responsible for FP&A activities and providing insightful analysis for the business
 Maintaining end to end books of accounts as per Internationally accepted standards
 Responsible for maintaining an accurate filing and record keeping system for all
financial statements and company documents
 Improving efficiencies and reducing costs across the business
 Ensuring fulfillment of legal & statutory requirements
 Responsible for overall HR related activities along with payroll processing
 Actively involved in negotiations with all the Suppliers
 Maintaining relationships with Auditors, banks, customers & vendors
Company industry:
Hospitality & Accomodation
Job role:
Finance and Investment

Finance Manager

December 2017 - June 2020

Medusa Paper Trading LLC

Dubai, United Arab Emirates

December 2017 - June 2020

• Ensuring proper and timely compliance of all the VAT related procedures by planning, documentation & E-filing of VAT Returns
• Preparing weekly and monthly cost sheets to ensure adherence to divisional budgets to achieve targeted profit margins
• Performing internal audits in addition to maintaining end-to-end books of accounts as per US GAAP
• Measuring weekly inventory and material variance to achieve optimal cost efficiency
• Preparing & maintaining annual budget along with cash flow statement to ensure sufficient liquidity
• Formulating stock and debtors ageing report to provide timely inputs to top management
Company industry:
Retail & Wholesale
Job role:
Accounting and Auditing

Direct Tax Specialist

February 2016 - September 2017

M.M. Nissim & Co.

Mumbai, India

February 2016 - September 2017

• Performing accounting & tax planning of 50+ clients to ensure their regulatory compliance
• Managing e-filing of various tax returns & reconciling with annual accounts
• Drafting and e-filing of appeals for presentation to Commissioner of Income-tax and Income-tax appellate tribunal
• Handling of Income-tax scrutiny of clients which involved addressing and resolving queries raised by tax departments
Company industry:
Accounting
Job role:
Accounting and Auditing

Accounts & Tax Specialist

September 2012 - December 2015

Viren Vasa & Associates

Mumbai, India

September 2012 - December 2015

• Performing concurrent, statutory & stock audits in various Nationalized Banks
• Actively conducting insurance audits in Insurance Companies
• Accountable for accounting & tax planning of clients, e-filing of tax returns, VAT & CST returns
• Assisting the Head honchos in preparation of project reports for loan for clients
• Providing the pragmatic approach to form accounting & taxation strategies as per the client’s requirement
• Actively engaged in business development, seeking clients & scaling up the client’s base
Company industry:
Financial Auditing
Job role:
Accounting and Auditing

Accounting Executive

June 2012 - August 2012

N.C. Beverages (Kampala, Uganda)

Kampala, Uganda

June 2012 - August 2012

• Performed duties of an Accounting Executive (Specialist) with direct reporting to CFO
• Posting various manufacturing entries, sale/purchase entries and cash vouchers
• Preparation of Bank-reco Statement, Stock-reco Statement
• Assisted in preparing payroll and monthly tax return Statements to ensure full compliance
Company industry:
Food & Beverage Production
Job role:
Accounting and Auditing

Accounts & Tax Assistant

June 2008 - January 2012

Viren Vasa & Associates

Mumbai, India

June 2008 - January 2012

• Liaising & assisting seniors in tax planning, e-filing of tax returns, VAT & CST returns
• Assisting Seniors team members in performing bank audits
• Have done ROC and e-filing of documents related to clients in various sectors
• Administering all the accounting work
Company industry:
Accounting
Job role:
Accounting and Auditing

Education

Institute of Public Accountants

September 2021

September 2021

Higher diploma, Finance And Auditing

Australia

Member of Institute of Public Accountants

Institute of Financial Accountants

September 2021

September 2021

Higher diploma, Business And Finance

United Kingdom

Associate Member of Institute of Financial Accountants

Institute of Management Accountants - USA

April 2020

April 2020

Higher diploma, Certified Course in Data Analytics & Visualization

United Arab Emirates

Institute of Management Accountants (IMA)

December 2019

December 2019

Higher diploma, Certified Management Accountant (CMA-USA)

United Arab Emirates

GPA (percentage): 74%

GPA (percentage): 74%

Accounts, Audit, Management Accounting, Costing

Institute of Chartered Accountants of India (ICAI)

May 2012

May 2012

Master's degree, Accounting, Auditing, Finance, Costing, Law, Taxation

India

Inter - CA Qualified

N.M College of Commerce, Mumbai University

March 2011

March 2011

Bachelor's degree, Commerce

India

Bachelor of Commerce (B.COM)

Skills

Accounting
Expert
Accounting
Expert
taxation
Expert
taxation
Expert
Auditing
Expert
Auditing
Expert
Financial Reporting
Expert
Financial Reporting
Expert
Financial Analysis
Expert
Financial Analysis
Expert
ACCOUNTANCY
Expert
ACCOUNTANCY
Expert
AUDITING
Expert
AUDITING
Expert
BUDGETING
Expert
BUDGETING
Expert
CASH FLOW
Expert
CASH FLOW
Expert
DOCUMENTATION
Expert
DOCUMENTATION
Expert
DRAFTING
Intermediate
DRAFTING
Intermediate
GESTIóN DE ARCHIVOS
Beginner
GESTIóN DE ARCHIVOS
Beginner
CUSTOMER RELATIONS
Intermediate
CUSTOMER RELATIONS
Intermediate
TAX PLANNING
Expert
TAX PLANNING
Expert
INVENTORY MANAGEMENT
Intermediate
INVENTORY MANAGEMENT
Intermediate
Data Analytics & Visualization
Intermediate
Data Analytics & Visualization
Intermediate
ACCOUNTING
Intermediate
ACCOUNTING
Intermediate
FINANCE
Intermediate
FINANCE
Intermediate
INTERNAL AUDITING
Intermediate
INTERNAL AUDITING
Intermediate
MICROSOFT DYNAMICS
Intermediate
MICROSOFT DYNAMICS
Intermediate
MICROSOFT OFFICE
Intermediate
MICROSOFT OFFICE
Intermediate
QUICKBOOKS ACCOUNTING SOFTWARE
Intermediate
QUICKBOOKS ACCOUNTING SOFTWARE
Intermediate
SLACK SOFTWARE
Intermediate
SLACK SOFTWARE
Intermediate
TALLY ERP
Intermediate
TALLY ERP
Intermediate
XERO ACCOUNTING SOFTWARE
Intermediate
XERO ACCOUNTING SOFTWARE
Intermediate
ZOHO OFFICE SUITE
Intermediate
ZOHO OFFICE SUITE
Intermediate
ACCOUNTING
Intermediate
ACCOUNTING
Intermediate
FINANCE
Intermediate
FINANCE
Intermediate
INTERNAL AUDITING
Intermediate
INTERNAL AUDITING
Intermediate
MICROSOFT DYNAMICS
Intermediate
MICROSOFT DYNAMICS
Intermediate
MICROSOFT OFFICE
Intermediate
MICROSOFT OFFICE
Intermediate
QUICKBOOKS ACCOUNTING SOFTWARE
Intermediate
QUICKBOOKS ACCOUNTING SOFTWARE
Intermediate
SLACK SOFTWARE
Intermediate
SLACK SOFTWARE
Intermediate
TALLY ERP
Intermediate
TALLY ERP
Intermediate
XERO ACCOUNTING SOFTWARE
Intermediate
XERO ACCOUNTING SOFTWARE
Intermediate
ZOHO OFFICE SUITE
Intermediate
ZOHO OFFICE SUITE
Intermediate
planning
Expert
planning
Expert
accounting
Expert
accounting
Expert
working capital management
Expert
working capital management
Expert
mis reporting
Expert
mis reporting
Expert
treasury management
Expert
treasury management
Expert
annual budgets
Expert
annual budgets
Expert
team management
Expert
team management
Expert
analysis
Expert
analysis
Expert
accounts payable
Expert
accounts payable
Expert
accounts receivable
Expert
accounts receivable
Expert
microsoft excel
Expert
microsoft excel
Expert
negotiation
Expert
negotiation
Expert
team leadership
Expert
team leadership
Expert
erp
Expert
erp
Expert
mis
Expert
mis
Expert
payroll
Expert
payroll
Expert
CHARTERED ACCOUNTANT
Intermediate
CHARTERED ACCOUNTANT
Intermediate
AUTOMATION
Intermediate
AUTOMATION
Intermediate
COMPLIANCE REPORTING
Intermediate
COMPLIANCE REPORTING
Intermediate
CORPORATE REPORTING
Intermediate
CORPORATE REPORTING
Intermediate
DATA ANALYSIS
Intermediate
DATA ANALYSIS
Intermediate
FINANCE
Intermediate
FINANCE
Intermediate
FINANCIAL STRATEGY
Intermediate
FINANCIAL STRATEGY
Intermediate
GOVERNANCE
Intermediate
GOVERNANCE
Intermediate
MANAGEMENT
Intermediate
MANAGEMENT
Intermediate
PROFITABILITY ANALYSIS
Intermediate
PROFITABILITY ANALYSIS
Intermediate
Finance
Expert
Finance
Expert
Financial Management
Expert
Financial Management
Expert
Financial Reporting
Expert
Financial Reporting
Expert
Management
Expert
Management
Expert
Preparation
Expert
Preparation
Expert
Financial Accounting
Expert
Financial Accounting
Expert
Reconciliation
Expert
Reconciliation
Expert
Teamwork
Expert
Teamwork
Expert
Payments
Expert
Payments
Expert
Tally
Expert
Tally
Expert
Microsoft PowerPoint
Intermediate
Microsoft PowerPoint
Intermediate
Oracle
Intermediate
Oracle
Intermediate

Languages

English
Expert
Hindi
Expert
Gujarati
Native Speaker
Marathi
Expert

Training and Certifications

Certifications
Holding Valid UAE Driving license
Certified Data Analytics & Visualization
AFA
MIPA
CMA
CA General Management & Communication Skills
ERP Certificate Course in Advanced Computerized Accounting CA – IT Training
Professional Competence Course
Certified Data Analytics & Visualization
AFA
MIPA
Certified Management Accountant
Holding Valid UAE Driving license
Professional Competence Course, (Inter CA)
Certified Data Analytics & Visualization
Certified Management Accountant
Holding Valid UAE Driving license