Assistant Treasurer
Emirates Aluminium
مجموع سنوات الخبرة :21 years, 2 أشهر
• Led a team to raise revolving credit facility of $ 350 million in 2011 & re-negotiated the facility with 17 banks through a full request for proposal route at a much favorable pricing for $450 million in 2013.
• Involved as part of the joint shareholder’s finance team to secure $4 billion of financing for EMAL phase II construction. Worked with commercial banks, export credit agencies and their lawyers.
• Executed over $500 million of FX hedges in major currencies for Phase II construction exposure, with a maturity period of 3 years. Additionally, executed short term transactional FX exposures for approximately $400 million annually.
• Handled pricing for spot aluminium sales to customers and managed the related exposure through back to back fixed to floating swaps. Experience of strategic hedging structures for aluminium swaps and collar options, cash to 3 months spread swaps.
• Devised, implemented and managed treasury policies and risk management framework for foreign exchange, commodity risk management, counterparty credit & working capital optimization.
• Supervised cash management of $2 billion of annual inflow and optimized utilization of working capital facility on a day-to-day basis.
• Experience of meticulous planning and smooth execution of critical large volume cross border transactions, which involved liaising with EMAL account bank, facility agents, shareholders and complying with loan documents: (a) $2.8 billion of equity bridge loan repayment for Phase I. Saved $700k in interest cost by correct timing of drawdown on the working capital facility. (b) Drawdown of $1.9 billion from Phase II bank facilities and simultaneously repaying $1.5 billion of this amount to the shareholders.
• Managed banking relationships, set up derivative dealing limits with banks, negotiated & executed credit & ISDA documents and handled letters of credit and bank guarantees.
• Successfully set up the treasury function and trained new joiners to become treasury dealer.
• Worked in SAP (Treasury module) environment.
• Deputized for head of treasury during his absence.
• Managed foreign currency exposures across group companies through risk identification, hedging strategy formulation and derivative execution. Dealt with FX desk of banks in Singapore, London, HK, NY and India to manage an FX book of $2.5 billion.
• Managed funding needs across the enterprise including capital structure planning and structuring of financing options. Handled pricing and covenants negotiation for raising $650 million syndicated debt facility.
• Involved in the execution of floating to fixed interest rate swaps for $250 million term loan facility.
• Managed investment of surplus cash across regions for USD ~350 MM. Also responsible for retirement fund investment in India for a portfolio of over USD 65 million.
• Provided analytical support & forecasts to senior management for impact of currencies and interest on company financials. Helped the pricing function to strategize customer negotiations from an FX perspective.
• Implemented Internal Controls over Financial Reporting (SOX 404) for the entire treasury function (derivatives, borrowings, investments & banking).
• As a voluntary initiative helped one of the Genpact clients (in UK) in setting up effectiveness testing model for commodity hedge program (wheat & cocoa bean futures) under IFRS (IAS 39).
• Received Gold award (one of the top individual performance award) from CFO for excellence in finance function.
Manager, Finance at Genpact (Jul’07 - Dec’07)
• Handled 6 income statements involving implementation of financial controls, ensuring no revenue leakage and review of existing systems and processes for suggesting cost reduction measures.
• Evaluated new deals on pricing assumptions and other financial parameters to determine payback period, sensitivity and break even analysis.
• Actively worked with the businesses to prepare revenue and EBIT forecast which they need to deliver and provided budgetary controls.
Manager Treasury - Genpact (formerly GE Capital International Services Aug’04 - Jun’07), - Worked with Global treasurer and 2 regional treasurers of GE Healthcare, a global leader in healthcare, with revenues of over $13 Billion:
• Handled transition of treasury activities from GE Healthcare USA to GE Capital International Services India. Ensured smooth functioning from remote environment.
• Identified and closely monitored the foreign currency exposure across Asian affiliates and participated in hedging strategies to minimize the FX risk.
• Handled inter-co funding & monitored the working capital trend across affiliates to identify idle cash for investment.
• Handled hedge accounting and periodic reviews to ensure actions meet the requirements under US GAAP.
• Prepared Finance Budget, Monitored daily Finance position & reported variances to the Finance head
• Streamlined the banking modes at different locations for smooth fund flow and working capital funding, resulted in 70% saving on account of Cash Credit Limit utilization charges
• Handled Dealer Vehicle Distribution Scheme at All India level, involving funding, commercial negotiation, scheme design & accounting.
• Handled accounting for Investments including consolidation of group entities.
Chartered Accountant