Group Treasury Head & Finance Business Partner
MOHSIN HAIDER DARWISH LLC
Total years of experience :17 years, 9 Months
►Handled international trade finance of $365mn/RO140mn (Omani Rial) procurements annually across various retail segments/ verticals viz technology, infrastructure, consumer goods incl mobile devices, automobiles, tires & batteries, construction equipment, healthcare, renewable energy, and hedged forex
►Contributed to other major businesses like Gases & Chemicals, Infotech, Training Institute, Logistics, Pharma, Oil & Gas, Chocolates & Confectionaries, Polyethylene Tanks, EPC, Rent-A-Car, Used Cars, Maliyah and Cross Border Retailing
►Critical management of $3.12bn/RO1.20bn funds annually (inclusive of SBLC/Supplier Credit Limits) on rotation of various facilities of approx. RO200mn, from multiple banks
►Driven a complete end-to-end digitization of banking operations, including RDC for cheque deposits, sub-account or virtual collection accounts setup, direct debit instructions, POS & QR SCAN terminals, payment gateways (e-commerce), corporate internet banking, B2B integration, WPS-Salaries, Trade Finance Portals/ Applications usage
►Been a Focal point for all the FIG teams @ banks and communications with corresponding banks for overseas counter guarantees, SBLCs, Clean-Up of Bank/s facilities or credit lines and rationalization of facilities utilization across all banks
►Provided financial information, notes, and write-ups - after signing up NDAs - to Bankers for availing new credit facilities or offer letters and during every annual renewal - for all the handful of banks.
►Negotiated on industry best interest rates, commissions, credit card rebates, MDRs for POS, Fx rates and achieved highly rated MTM through FX deals/swaps - grossing an annual avg Fx valuation gains of RO12K-15K; a fete during highly volatile conditions of BREXIT, COVID-19, post pandemic inflationary and continuing geo-political escalations globally
►Generated reports on Daily MSX summary, Global Treasury Snapshot, Weekly Treasury Newsletter, and valuation reports on quoted / unquoted investments, properties, stocks, overseas deposit placements - approx. $5mn p.a.; financial leasing models for intercompany funding - all complying to IFRS standards and recognition
►Prepared a summary or dynamic snapshot / one-pager for group-wide banking facilities, including utilizations, critical & non-critical cash flow forecasting; enabled a mobile-app to view summary on handheld devices/on-the-go (OTG)
►Contributed immensely to the organization restructuring (into clusters), defining profit centers and cost centers - by franchise and by dealer - and ensuing MIS or profitability reports
►Implemented group-wide ERP (SAP S/4 HANA, FIORI) transitioning from legacy ORACLE ERP; coordinated for licenses, hardware deployment, interacted with SAP consultants being an in-house core team member, imparted trainings to entire team - including locals and residents.
►Monitored accounting of P2P (incl costing) and O2C (incl credit assessment/ BGs) processes, designed internal controls for Daily Cash Journals Closing, Cash Contra, Till Closing (in CDK) - Handled all audit queries to satisfaction and ensured timely closure of audits
►Managed cash & bank team alongside Treasury Operations, provided timely needful trainings, conducted appraisals semi-annually and contributed in achieving individual career goals; initial handholding until teething issues are resolved and later monitored by objectives - the output at macro level
►Handled international trade finance from coal procurement perspective, adhering to compliances and hedged forex
►Critical stressed asset management, by assisting lenders/ COC. Achievement of optimal cash flow for distress assets.
►Submission of RP and structuring of sustainable and unsustainable debt, presented the same to IRP/Lenders & COC.
►Conducted due diligence of all power assets/units from a perspective of legal, technical, financial & commercial.
►Prepared valuation models highlighting key metrics and drivers, for all power assets/units.
►Liaising with govt. and PSU sectors in raising funds through project finance, working capital loan, corporate loan
►Managing short &long-term cash forecast and monitoring fund situation, including mutual fund investment, and ensuring achievement of monthly target of operating free cash flow (FCF)
►Monitoring & analyzing actual cash position Vs forecast on a weekly & at micro level, through liquid cash report, on a daily basis to ensure smooth flow of daily operations and optimizing the utilizationof available funds
►Structuring of LC funding; opening of Domestic & Foreign LC facilities and tracking the same till its retirement; raising Inter Corporate Deposits (ICD) and ensuring timely completion of accounting interest, TDS and repayments; managing bank guarantee facilities and tracking the same till its expiry/cancellation/retirement
►Provided required information to stock auditors appointed by bankers and completing the audit in timely manner
►Preparing Credit Monetary Arrangement (CMA) Statement to be submitted with banks on renewal/enhancement of Fund Based & Non Fund Based limits; submitting CDR proposal, and IBC study
►Submitting financial estimates & projections for bankers, discussing the same with Insolvency Officer-Interim Resolution Professional (IRP); preparing information memorandum for investors/financial institutions
►Engaged in Working Capital Management and ensuring that the WC ratio required by the banks is within the accepted limit; submitting Drawing Power Statement on monthly basis to support the working capital drawing limit
►Developing quarterly QMS & FFR, FSMTL and UFCE to be submitted with banks and also various monthly & ad-hoc treasury related MIS to Business CFO/Group CFO for conducting analysis
►Initiating and completing the rating exercise and liaising with the credit rating agency; submitting information for annual surveillance and quarterly information as required by rating agencies
►Ensuring all treasury related entries are accounted; assisting internal auditors in submission of required reports; coordinating with statutory auditors and submitting various audit schedules, including IFC & Tax audit
►Administrating the timely payment of statutory payments such as TDS, Advance Tax, GST (erstwhile Service Tax, VAT, and Sales Tax), PF Dues, P Tax and so on
►Contributing in processing monthly employee salary; preparing outward remittance application, Form A1, Form A2, FEMA declaration, form 15CB (get audited), 15CA (online generation) and sending to bank for payment and sharing payment advice to overseas vendors
►Spearheaded all aspects of financial control and rendered financial, commercial and strategic support for the business
► Prepared management information from source data; produced monthly management accounts, budgets, forecasts & VAT returns; provided monthly results, budget variances and ad-hoc analysis
►Engaged in business, P&L, balance sheet & liquidity planning; ensured adherence to compliances through Income Tax (TDS), PF, PT, Service Tax - Payments & Filings (Form 24Q, 26Q, 5A, ECR, Challans among others)
►Successfully streamlined all finance processes by implementing accounting packages, and payroll software (GreyTip)
►Maintained financial integrity of organization through GAAP, IFRS, Clause 49 and SOX compliance and regular internal and external auditing of financial processes
►Acted as a Business Partner to all departments; prepared and reported income & expense forecasts to ManCom/CXO’s; reviewed intercompany invoices, intercompany imbalances/reconciliations and adhered to transfer pricing norms
►Managed US payroll (profit sharing and fixed salary)- a bi-monthly pay cycle through third party processor Paylocity
►Administered working capital management and arranged funds from financiers through bill discounting, EEFC A/C and foreign currency loan
►Provided strategic inputs to pre-sales, business development, client engagement, pricing and resource allocations activities
VMware Software India Pvt. Ltd (Aug '13 to till date) GL Controller & Consolidations Manager
* Responsible for Monthly/Quarterly/Yearly financial consolidation of 26 international entities (using Oracle HFM), and manage closing and opening of books/periods.
* Generate and publish financial statements to a close group in the organization, including CXO's and Management Committee, all days during the close.
* Responsible for intercompany imbalances, final interface and final transmission to the parent (holding) company. Controls intercompany or inter entity payments/ receipts
* Responsible for GL closing and monitors/follow up pending issues in sub ledgers via AP, AR, FA, and Cash.
* Handles payroll accounting and review/control the payroll processing, especially for Canada sub.
* Calculation and processing of Canada Corporate income tax (CIT) installments.
* Preparation and filing of Quarterly VAT returns with Canada Revenue Agency (CRA)
* End to end responsibility in owning the Prepaid, Deferred Rent calculation.
* Responsible for Month End Activities including, Balance Sheet Account Reconciliations, CAPEX Reporting, Processing of accruals and other Adjustment Entries in General Ledger, etc.
* Attend monthly GL close and cross functional call with management and ensures timely closure of books of accounts alongside discuss on further improvements for lean management.
* Approve / Review key account and GL reconciliations (through Blackline tool) with in the corporate due dates and strictly adhere/comply to relevant SOX norms.
* Provide flux comments for huge variations in accounts between the previous month and quarters and prepare monthly/periodic MIS reports for the management.
* Interaction and handling queries from various stake holders via Auditors, Tax consultants, VAT auditors and CRA
* Experience in transfer pricing and subsidiary accounting (cost plus model) - through intercompany or inter entity invoicing.
* Contribute to quarterly earnings presentation/deck compiling key parameters on a side by side comparison and provide guidance or projections of the same.
* Works closely with M&A team in building trading / transaction comps, interpreting multiples and for due diligence
* Involved in implementation of Oracle HFM (Hyperion Financial Management) as a core team member; In Phase 1, Integrated Oracle EBS consolidation with HFM consolidation, and moved Consol process in entirety to HFM and in Phase 2, Integrated all financial reports on HFM through Oracle fusion reports.
* Rich experience in providing real time support during US hours and interacting with teams working for SEC reporting.
Copal Amba (May '08 to Aug '13) Senior Consultant - IR
* Promoted to managerial cum supervisory role to mentor and manage the team, reporting directly to SVP in delivery and operations.
* Experience in Project execution from initiation, pilot, kickoff & signoff, team building, supervising and handling team/s, discussing career path, aspirations and setting goals, maintaining MIS trackers and dash boards as part of project management in order to provide customer delight.
* Rich experience and exposure to ASEAN telecom stocks initiations, worked as a offshore analyst for a top ranked / rated telecom analyst and HoR, TMT coverage, of a major research firm (sell side)
* Provided investment research services, as a dedicated offshore analyst (a.k.a. VA), to the global head of energy and natural resources at a major growth fund, based out of USA; on his metals & mining coverage.
* Evaluated financial performance of the global metals and mining companies, by building detailed valuation models from scratch, analyzing ratios such as grade extraction analysis, per tonne analysis, segmental framework, operating margins, ROE, D/E were among others.
* Experience in Financial Modeling (DCF, Relative Valuation, M&A and LBO models)
* Exposure to Research report writing, Bond pricing analysis and Credit research analysis
* Contributed immensely to the knowledge sharing program at Amba; developed various AMBA Gold standard products. Prepared presentations and methodology documents citing best practices
* Rich experience in M&A Analysis and developing various IB products like Trading & Transaction Comps, Transaction case studies, Investment Thesis for trader's desk products, Industry report, etc.
* Client management - day to day client interaction, identifying and addressing client's requirements
iGATE Global Solution Ltd. (Sep '06 to May '08) Department: Investment Banking Research Analyst
* Prepared Company Profiles to detailed pitch book reports, for various private & Public companies, which include: Business overview, Five-Year Financial Analysis, Ownership & Shareholding Pattern, Stock Price Analysis, Recent Developments and Analyst Coverage.
* Done Comparative Company Analysis across various sectors and analyzed their trading multiples like EV/Sales, EV/EBITDA, P/E, PEG etc.
* Done Precedent Transaction Analysis for historical M&A deals in finding out multiples and providing indicative valuation for potential transactions.
* Promoted to QC Level within a short span and received "Extra Miler" award for consistent performance.
Sri Ramachandra Murthy & Co, Visakhapatnam. Audit Assistant
* Internal Audit: Done internal audits of various Public & Private Sector Companies, such as National Mineral Development Corporation Ltd., Om Sai Private Detective Security Service, etc.
* Bank Audits: Performed Statutory Branch Audits of Bank of Baroda and Federal Bank; Concurrent audit of Union Bank of India, South Indian Bank, Andhra Bank; and Revenue Audit of Indian Bank and Corporation Bank.
* Tax Audit:Exposure in TDS & Tax Audit of Educational institutions and Individuals.
* Other Assignments: Performed Stock Audit, PF and EPF compliance Audit, Job Contract Audit and Variance analysis at Coramandel Fertilizers Ltd, which had all the transactions, executed using ERP Software (S.A.P)
CHARTERED ACCOUNTANT
COST AND MANAGEMENT ACCOUNTANT
* Graduate in Commerce with first class division in April 2001, from Andhra University Software Proficiency * Well versed in working with SAP ( R/3-FI/CO),SAP ( S/4 HANA - FIORI APP & GUI), Tally, MSOffice, Oracle, Wings environment; programming languages such as C, C++, Excel VBA coding ( for writing macros) * Hands on experience on using various databases like Thomson Reuters Spreadsheet link, DataStream, Bloomberg, Thomson Banker, Thomson Analytics, Reuters Knowledge, Reuters 3000 xtra, Factiva, Factset, Merger market & Capital IQ, Oracle financials EBS & HFM.