Group Financial Controller
Holborn Group
Total years of experience :22 years, 11 Months
Group Companies Handled
Holborn Nigeria Ltd. I Plastic Manufacturing Company I T/O $ U.S 50 Million
ABC Ploymers Ltd.I Plastic Manufacturing Company I T/O $ U.S 20 Million
Apple & Pears Ltd.I Manufacturing Company- Animal Feed & Edible Oil I TargetedT/O $ U.S 50 Million
Modern Progressive & Agro Industries Ltd.I Real Estate Company
Key Accountabilities
Responsible for overall Management of Accounts& Finance Functions
Lead and provide strategic decision support to the Management and Business Heads; Work closely with the Directors for continuous monitoring of profitability of the group companies
To devise strategies for maximisation of profits with optimum utilization of resources, with new projects/ventures/product mix etc.
To advise Management on Business Investments
MIS / Performance Review - Prepare Strategic Business Plans, Profit and Loss Analysis, Conduct discussions with Business Heads on KPIs, Perform Actuals Vs Budgets Analysis, Track Expense Controls etc.
Be responsible for
o Daily group Cash flow monitoring with budget of Monthly cash flow
o Banking Finance, New projects and Feasibility reports etc
o Overseeing Import costing
o Banking relations for Working Capital and other Finance
o Preparation of Budgets and preparation of Projections etc.
o Product cost and optimum Portfolio maximise profitability
o Preventive measures of Fraud and establishment of proper Internal controls including internal audits.
o Monthly MIS on Variance reports
To generate various Business & other MIS reports for Management Reviews
Significant Achievements
Actively participated in the expansion programme of new project Apple and pears Ltd, making projections/feasibility/ and getting Bank facility of $ U.S 6Million consisting of Term Loan and Bank Overdraft
Was successful in securing a Term Loan of $ U.S 6 Million from Bank of Industry Ltd., Nigeria fora Group Company, ABC Polymers Ltd. in addition to the normal line of Bank OD and enhancing Import Trade Finance facility
Successfully obtained different bank facilities for the group for $ U.S 5 Million
Was successful in negotiating with Banks to convertShort Term loan to Long Term loan at a reduced rate of interest
Instrumental for the effective usage of materials/budget to reduce the overhead cost thus increasing performance of the company
Successfully implemented Balanced Score Card System for business performance and development of Group Board of directors report
Key Accountabilities
Mainline responsibility of handling the Accounts& Finance Functions
Responsible for
o Daily Cash flow monitoring with budget of Monthly cash flow
o Banking Finance, projects and Feasibility reports etc
o Overseeing Import costing
o Product cost and optimum Portfolio maximise profitability
o Preventive measures of Fraud and establishment of proper Internal controls including internal audits
To track and analyize budget Vs actual and generate Variance reports
Key Accountabilities
Mainline responsibility of handling the Finance &AccountsFunctions
To handle Accounts Finalization, Payables & Receivable etc.
To liaise with Banks / FIs, negotiate and organize funds for the software development division
To coordinate
o With Directors for monthly meetings and updates
o With Statutory auditors
o On Insurance related matters
Play a significant role in running the units into profitable units
To handle Admin Operations, Recruitment etc.
Track and ensure operational costsdo not exceed budgeted targets
Represent the company to different end users for sale of different business integrated software and designing the software applications
Significant Achievements
Started the project in a humble way and led to 400% growth in 3 years in terms of turnover.opened new divisions for training in Thanjavur and increased the business volume in Trichy
Arranged credit facilities from banks to facilitate the business units
Set up the software business divisions in Trichy and Thanjavur specifically to meet the small and medium sectors and achieved a considerable growth in turnover
Key responsibilities:
Monthly business review of subsidiaries
Preparation of Monthly report on business review to the board of directors.
Consolidation of group accounts for internal and external purposes.
Internal audit report review
Completion of Group audit
Group annual budget
Ascertaining group requirement and coordination and arranging Feasibility report, projections statements for the purpose of financing, which includes Fund flow, cash flow, Profit and loss account projections, Balance sheet, Key ratios in multi currencies.
Assessment of the various insurance risk and coverage of the same at group/Corporate level
Coordination with System consultants for the implementation of ERP and facilitation with the system design report
Accounts maintenance of sister company accounts and holding company accounts.
Notable accomplishments:
Involved in ERP implementation package called Ramco from India and designed various system reports
Involved in refinancing/restructuring high cost finance loan to low rate group financing, further lead to tax saving through transfer pricing
Involved in the finalisation of loan agreement with banks
Involved in negotiation of conversion of USD loan with local currency
Involved in insurance claim process with the contamination of product with the tune of 1.5M$ and received the claim successfully.
Assisting the company in system reports on business integrated soft ware.
Implementation of the system control and preparation of audit report for various processes of the textile industry and presenting the board of directors.
Consolidation of group accounts in Gulf Africa petroleum corporation
Implementation of control and preparation of accounts and finalisation with auditors for the sister and subsidiary companies.
Completion of Group audit
A joint venture company in Noida engaged in the production of electronic equipment called shakers and speakers, which were invented by Aura systems Inc. USA. 100% buy back arrangement was with Aura Systems Inc.
Key responsibiities;
Head of accounts and finance functions of the company having the overall responsibility of accounts, taxation, finance, audit, statutory filing, company law etc.
Export and import LCs finalisation
Coordianation with Banks including submission of monthly and periodical statements to the banks.
Coordination with Aura systems Inc., USA
Notable Accomplishments;
Regularised the Foreign remittances in accordance with RBI Regulations
A textile company with 65% buy back arrangement with DCM Shriram
Key responsibilities;
As a head of accounts, all accounts related matters.
Financial Projection statements for public issue
Coordination with advisor to the public issue
Company law related matters
Coordination with Auditors