Makarand Vaze

1. Support implementation of ERP for EMEA region. This includes 15 legal entities, 9 legacy systems, 10500+ unique records. USD 90 million annual impact.

2. Data harmonization, data validation, data standardization, Data migration

3. Review of project milestone and status with project team

4. Review workpackages against planned deliverables

5. Publish status reports for various modules

6. Guide in ledger cleanup activities

7. Recommend best practices for uniformity across legal entities

8. Recommend standard naming convention and GL accounting string

9. Review legacy to cloud erp Chart Of Accounts (COA)

10. Review various project toll gate and sign off

Acted as Project Finance Lead for Upstream Business of Shell & spearheading finance & operations team & activities related to various IT Portfolios under Upstream Business.

FP&A Activities:

● Allocate Budget at Project & Portfolio Level, track Actuals & report Variances.
● Forecasting: Monthly review of Latest Forecast, Value of Work Done at Project & Program level.
● Review Budget Demand Change request submitted by Project & Portfolio Managers.
● Review Budget-at-Completion & Estimate-To-Complete.
● Review commentaries on Financial Variances (Budget Vs Actuals, Forecast Vs Actuals)
● Recommend corrective actions to minimize actual deviations from Budget & Forecast.

Project Financial Reporting & Risk Management:

● Participate in Monthly PRB review calls & present Portfolio, Program Financial Status.
● Identify & highlight Project Financial Risks to Senior Leadership Team.
● Monthly Cost Accruals review call, Vendor/Supplier Payables meeting with RtP Lead.

Finance Operations:

● Create & Publish monthly deadline calendar to Analysts.
● Ensure cost items confirmed by PMs are reviewed thoroughly by each Analysts.
● Monitor & ensure WBS creation requests are completed within agreed TAT.
● Monitor project creation requests are processed & completed within agreed TAT.
● Review IC billing status & work to reduce unbilled scenarios.
● Liaise with HR for recruitment.
● Conduct interviews & provide feedback.

Team Management:

● Managing a team of seven Analysts located in Europe & Asia.
● Define Annual GPA & IDP for each analyst.
● Review assigned activities related to respective portfolios, promote work life balance.
● Conduct regular 1-2-1 with direct reports, Feedback Management.
● Ensure Team Members are cross trained on activities.
● Absence Management, Issue & Conflict resolution.

Financial Planning & Analysis:

● Budgeting: Allocate budget at MU, Service Offering & Project Level, track Actuals & report Variances.
● Revenue Forecasting: Weekly consolidation & validation of revenue forecast numbers from various stakeholders. Review revenue pipeline. Track actuals & report variances with commentaries at MU, BU & project level.

P&L Forecasting, Reporting and Analysis:

● Publish P&L Location wise, MU wise & for each Service Offering.
● Identify & validate One Time/Abnormal costs in P&L.
● Analyze & report Financial & Non-Financial metrics.
● Consolidate & Publish MBR decks.
● Simulate P&L statement based on what-if scenarios (ad-hoc).

Revenue Monitoring & Reporting:

● Ensure revenue recognition at project level.
● Identifying & validating One Time or Manual Entries in revenue report.
● Identify risks to revenue & update forecast accordingly, Conduct DSO review calls.
● Spot Currency & Constant Currency analysis.
● Receivables reporting & follow-ups.

HC & Pyramid Monitoring & Reporting.

● Plan HC at project level.
● Liaise with HR & RMG.
● Pyramid monitoring & reporting.

Process Transition Phase:
• Identified Phase-I & Phase-II processes of Aerospace Engineering for migration to India location.
• Co-ordinate with Prime stakeholders of Aerospace Project for tracking scope of deliverables & reporting scope creep.
• Generate Activity Calendar for monitoring all deliverables.
• Update versions of SOPs for the As-Is To-Be Processes.
• Document new learning & get sign-off from Counterparts in U.S.
• Coordinate with Stakeholder for Parallel Run.

Post Transition:
• Publish Aerospace HQ Financial Report & perform Variance Analysis.
• Publish Inflation Report.
• Publish Indirect spend report for all Aerospace projects.
• Publish weekly report & conduct review calls for SBU’s Financial Performance.
• Publish report on Contracts-In-Progress by comparing YoY, YTD & MTD balances.
• Resolve conflicts through escalation matrix & document learning.

• Participate in Bi-Weekly calls with Project Managers for reviewing project status by comparing Planned Vs Actuals.
• Work with Onsite & Offsite resources to gather inputs for Forecasting Revenue/Cost of Projects.
• Claim & Expense Management & Milestone Monitoring.
• Incorporate revised budgets resulting through PCRs.
• Project Financial Review with Partners & PMO.
• Participate in PMR Calls & Boot Camp Trainings.
• Participate in Brown Bag sessions to upgrade knowledge on project financial tracking systems, ways of tracking T&L, etc.
• Collate all disputed & un-reconciled items for 100+ projects & review it with Project Financial Services Centre on a Monthly basis.

 Prepare & Publish P&L Statement.
 Order & Revenue Reporting.
 Sales Performance Report.
 OPEX Reporting.
 BW reporting for Sales & FSC.
 Driving Process Improvements.
 Train & Mentor new hires.
 BCP Committee Member.

 Project Accounting & Reconciliations were performed for first 23 months.

Initiate Bank Audit, Tax Audit & Trust Audit
Book daily Journal Entries
Prepare P&L & Balance Sheet statement.
Review Financial Statements with Auditor.