Global Finance Controller & Treasury Head
Movate
Total years of experience :19 years, 10 Months
Deliverables:
Reporting to Group CFO
Responsible for overall team size of 50+ Finance Professionals with 8 direct reports.
Globally responsible for 21 legal entities, two branches across 16 countries in all areas of Finance and Accounting operations, including Process restructuring- Order to Cash (O2C), Procure to Pay (P2P), Record to Report (R2R), Acquire to Retire (A2R), Global Payroll Accounting, Treasury, MIS, and regulatory compliance.
Support Business Finance (FP&A) and pricing activities i.e., review Plan vs. Actuals on regular basis, in-depth analysis of variances, continuous tracking of key financial & business metrics, cost reduction activities, support extensively in Annual Budgeting process / forecasting, communicate visibility & enable planning of actionable through presentation of key highlights.
Manage Investor relationship. Drive Audits (Internal & External), Part of Audit Committee meeting, Quarterly presentations on financial performance to Board & Audit Committee.
Execute Fiduciary Responsibilities i.e Authorized Signatories for Treasury Functions, Contract review and Signature (Supply chain function).
Responsibility towards Business Risk, Insurance i.e Identity risk and recommend solutions for mitigation of risk for group entities.
Support all Acquisition, Mergers, Divesture, Refinancing, Securitization / Factoring, Hedging, Options, forward related activities.
Act as influencer, proactively work on Team Motivation, Development and Retention.
Work closely with technology partners & drive system enhancements, Process improvements. Communicate & collaborate effectively with other business functions. An active member of the Internal Complaints Committee.
Be instrumental in improving the efficiency, utilization, and profitability of projects (Gross and Net).
Finance Planning & Analysis
1. Managing a FP&A portfolio of approximately USD 700MM, comprising of a combination of 43 offshore and onshore rigs (Both Parent and JV).
2. Preparation of quarterly forecast and annual budget (Both financial & capital) and prepare monthly variance analysis report and explanations against actual performance for both Parent books and JV books.
3. Proactively evaluate operating results monthly, quarterly, half yearly and annual financial results and trends in order to identify opportunities for optimizing financial performance of the area.
4. Ensure that financial results are fully reviewed with local area operational management & Houston Finance Team on a monthly basis.
5. Provide semi-monthly financial outlook updates along with explanation for variances with expected monthly forecast/budget.
6. In-depth explanation of GM walk and the business drivers behind the financial results.
7. Ensures timely and accurate financial reporting & submissions.
8. Capital AFE and PR approvals based on pre-agreed budget and plan.
9. Lead the bid model and commercial review process from a financial perspective.
10. Identify opportunities and implement changes to improve processes and financial models and reports.
11. Ensures timely and accurate financial reporting & submissions.
12. Articulate risks & opportunities and saturation/growth opportunity to leadership team.
13. Lead projects as needed to extend Nabors’ financial and administrative systems - ensuring proper change management in order to secure subsequent efficiencies.
14. Ensure that capital expenditures are properly justified or evaluated, bid models are correctly prepared and these are reflected in the financial projections.
15. Proactively establish a participative partnership position in the Area through visibility in the operation (rig visits, development of customer relationships, and participation in Area communication meetings).
16. Assist during monthly, Quarterly, Annually closing (budget, year-end reporting, etc.).
17. Assist with/coordinate special projects as needed/advised by Country CFO.
Administration
1. Provides leadership and stewardship to the team of finance analysts for various key weekly, fortnightly, monthly & quarterly business metrics and deliverables; including OpEx and CapEx spending analysis, Head Count analysis with Plan, Standard Margin, Gross Margin & Profitability reporting, analysis and insights.
2. Motivate, Supervise direct local reports, provide/arrange Job and Career development training, create succession plans, and evaluate performance.
3. Jointly work with the broader FP&A team spread across USA & Middle East to raise the collective impact and influence of the finance team in driving the business
4. Partner with all department heads to ensure understanding of business developments (Financial, IT, payroll, HR, supply chain, Safety, Training, Marketing, Legal, Internal Audit, Compliance & Tax etc.).
Service Tax, VAT, CENVAT, TDS, Customs Act, Exercise Act, FEMA, IFRS, IGAAP, Direct Tax, Corporate Act, Internal Audit, Tax Audits, External Audits, Internal Controls, Compliance.
Deliverables:
1. Managing Finance and Accounting operations for Cameron Entities in Middle East countries, including overseeing Finance functions of two Joint Ventures i.e. CSME - Oman & CAL - Saudi Arabia.
2. Directly responsible for approx. $80MM Aftermarket Revenues and indirectly support revenue of $350MM across multiple business segments in MENA Region.
3. Contribute to ERP implementation, review blue prints, secure information accuracy and mapping on financial parameters, inventory, Fixed Assets, SD & Costing functions.
4. Cash flow Projection & Management. Developing a process and reporting mechanism that includes minimum cash threshold to meet operating needs. Authorize/Approve Payments External & Inter Company & CapEx payments.
5. Active participation in global projects related to streamlining and/or improving processes and management system. Directly responsible for improving productivity, efficiency & continuous improvements in MENA regions.
6. Preparing annual budgets; quarterly; weekly forecasts of financials for ME entities and their divisions and profit centers.
7. Prepare financial performance dashboards. Analyse trends, provide explanations, for variations from Budget v/s Actual’s on monthly, quarterly and yearly basis.
8. Involved in Business Planning, Cash Flow Projections, Income Statement Preparation, manage Balance sheet.
9. Responsible for GL/AR/AP/FA, Account/Bank/Vendor/Customer reconciliations, including bank Reconciliation, month end, quarter end and year end activities.
10. Drive relationship with external auditors and ensure timely completion of external audits and adherence to local statutory and Tax laws for all Cameron ME entities.
11. Overseeing & Ensuring appropriate internal financial controls, establish remediation plan to fix internal control deficiencies identified through SOX (Sarbanes-Oxley Act) testing, internal Audits and ensure compliance with Cameron Policy.
12. Supervise a team, Perform appraisals, incorporate staff development plans, conduct training, coaching to enhance team skills and resolve inconsistencies in operations.
13. Interface with Management & collaborate with: other departments (H.R/S&M (Quotes; shipments)/ Legal /Compliance/Tax/Procurement/Warehouse (Inventory) etc.
14. Respond to adhoc queries on financial figures & processes; participate in adhoc regional assignments or global project as directed by Sr. Financial Controller - MENA Region.
1. Full cycle of Accounting of FA & GL Processes.
2. SOP Preparation for FA & GL Processes. Strong understanding of month end & year-end activities.
3. Capital Budgeting (IRR/NPV/Payback Calculation to determine project successes & ROA)
4. Emphasize on continuous process improvements and implementing best practices within the department.
5. MIS reporting of monthly activities.
1. Accounting of AP & FA Processes.
2. SOP Preparation for AP & FA Processes. Strong understanding of month end & year-end activities.
3. Emphasize on continuous process improvements and implementing best practices within the department.
4. MIS reporting on AP & FA Activities
5. Part of team, involved in successful conversions from Oracle 11i to SAP.
6. Part of SOX implementation team. Responsible for contributing towards implementation of SOX procures (Sarbanes-Oxley Act) and also, perform testing of controls and accuracy on AP and Fixed Assets functions.
1. Responsible of planning and executions of Audits of Charitable trust, Banks, Educational Institutions & Small scale industries.
2. Responsible for preparation of draft Audited Financial Statements.
3. Responsible for computing and filing of Income tax returns.
Professional Education II (Chartered Accountant)
Bachelor of Commerce - Specialization in Finance & Accounting
