Finance Director
Seagrass Middle East Hospitality LLC
Total years of experience :28 years, 4 Months
BOM/Food Cost Control, Wastage, Consumption & Usage Control, F&B and Gross Margin Maintenance & Control, Revenue Forecasting, Financial Policies, Procedures & Controls, Budgeting, Transactional Processing & Financial Reporting, Administration of Financial Records, Daily Banking Report, First port of call for query resolution, Channel-wise & Category-wise Profitability Analysis, Consolidation, Audit Preparation & Compliances, Financial Analysis using NPV, DCF, Audit liaison, MIS, Decision Support Systems, Direct and Indirect Cost Controlling, Classification & Grouping of Accounts, Inventory Control, Kitchen Equipments & Utensils Control, Fixed Assets Control, Cash Flow Management (Projected Vs Actuals), Operating, Investing and Financing Activities, Business Plan for Specific Projects and Valuation, Fund Raising Support for Projects, Meeting Bank Facility Covenants, Providing Justification or Rectification Strategy in case of breach of Covenants and Obtaining waiver letter from the Bank, Negotiation with Banks, Banking, Dividend Decision Support and Distributions, Draw-downs of facilities based on Project Fund Requirements, VAT Audit compliances, VAT Return Filing, ESR Notifications & Compliances, AML laws and regulations Compliance, Registration & Liquidation of Companies, SAP Implementation, Stakeholder management, Optimum allocation, utilisation and management of all Organizational Resources through performance analysis reports of each and every resources of the Organization, Negotiation with the landlords, Complete Payroll Management, Team Management & Team Building, Ad-hoc assignments
Key Achievements: Brought down sales retrun of Chilled Items by 300K p.m. Reduced Operating Cycle by 30 Days. Introduced automated credit approval for invoicing purposes subject to setting up of specified credit rules in SAP. Designed a customised Market Spends Input Module and related Reports for the purpose of SAP customisation. Introduced a daily MIS on AR Collections, Sales Return, Expiry and Damaged Items. Formulated codes for sales return analysis. Analysed and brought down the number f handling or movement of inventory from the place of supplier to the customer location in order to reduce the damages of chilled items. Implemented and ensured FEFO method of issue of inventory was strictly followed. Captured expiry dates for inventory in the Computer System. Completely reviewed and reduced the lead time & number of handling in warehousing and logistics operation from the procurement, stocking, sales and delivery perspective.
Responsibilities: Credit Management, Credit risk management and control ( company credit policy-credit committee), Inventory Management, Inventory Ageing & Follo-up, Procurement/ Production/Supply- Planning, Costing and Production Variance Reporting, Process-Reviewed/ Modified/ Automated, Policies & Procedures documented and maintained-for Purchases/Process Costing/Cash Sales/Van Sales/Sales Return/AR/Purchases/Inventory/AP, Personally investigated largest customer credit applications, Personally visited the largest customers to establish relations, Created credit scoring model, Accept/Reject credit recommendations, Integrate Job responsibilities of Staff, Reviewed & fixed loop holes in Internal Controls, Implemented Internal Audit Recommendations, Collected long over dues from certain Customers, Issued 1500+ BCLs to Customers as a part of cleansing and confirmation of their Accounts, Modified Trade Credit Application and Documentation, Automated Sales Order Confirmation, Introduced System based Control of Invoices, Feasibility studies for new Brands and Staff Transportation, Formulated Business Exit Strategy for Oman Operations, Annual Operating Plan and Control, Reviewed and reconciled customer-wise rebate provision account, Reviewed all customer Business Agreements under Retail and HORECA Division, Commenced Monthly Review Meetings -with Sales Team on Monthly Credit Collection, Sales Return/Near Expiry/Expired/ Damaged/Slow or Non-Moving items/Rebate and Market/Trade Spends & with Brand Managers for monthly procurement plan/claims from suppliers, Stopped the practice of parking sales below cost of near expiry products in common profit/cost center instead of respective sales person’s account, Sales/Margin Analysis, Customer Profitability/Investment Analysis, Market Growth Plans, Validate/Approve contractual/non-contractual rebates. Run day to commercial business with Sales/Marketing/Brand Managers
Key Achievements: Winner of Tenders of Large Scale Caterign and Medical Service Businesses with Multi-Million Turnover and Profitability to turnaround the Business growth of over 10% p.a. Reviewed all Catering Contracts. Reduced upto 20% of certain costs after negotiation with direct/indirect cost and CAPEX related suppliers. Acquisition/Sale of Business/Merger of Divisions/Units, Business Process Reengineering, ERP Implementation, Revenue Stream/Profitability Improvement, Recovered unpaid bills from Debtors/Insurance Companies/Other Corporates, Fixed the loophole for delayed payment of Invoices by Clients/Customers, Reduced claims rejection percentage by 8%, Centralised Medical Claims Department, Supported Operations/ Administration/ HR Department in work process flow management, cost reduction and cost control
Responsibilities: Internal Controls, Decision Making, Financing Strategies and Activities, New Investing Strategies and Activities, Operating Models and Operational Executions, Treasury Functions Management, Monitoring & Forecasting Cash Flow, Interpretation of Client, Suppliers and Other Contracts, Financial Modelling, Maintenance and Improvement of Financial Accounting System, Setting of Systems, Policies and Procedures, Chart of Accounts, Management Accounting/MIS/KPIs reporting, Budgeting and Budgetary Control, Business Financial Planning-Short Term and Long Term, Revenue Forecasts and Reconciliations, Revenue and Cost Analysis & Control, Contract wise Profitability Analysis, Sensitivity Analysis, Payroll Management, Working Capital Management and Control-AR Ageing, Collections, Reconciliations/AP/Inventory, Evaluation of Quotes for Procurement/Replenishment, Purchase Order Management & Processing, Negotiation with the Suppliers, Inter Company Transaction Co-ordination, CAPEX payments, Correspondence, Liase with - Debtors, Creditors, General Civil Aviation Authority, Clients, External Auditors, Internal Auditors, Consultants, PROs, Banks and Insurance Companies, Develop and execute analysis of various business initiatives- E.g. New operations, Mergers and Acquisition-Due Diligence and Business Valuation, Post-acquisition implementation of systems, Feasibility Studies - Contracts/Projects/CAPEX, Preparation of BIDs/Tenders, Evaluation of Cost and Price, Fixation of Price of Contracts/Products/Services, Transfer Pricing, Service Costing, Managing and Monitoring E-Claims based at DHPO, Perform other adhoc tasks as assigned by Chairman or dictated by position, Recruit, Mentor and Grow talent for current and future roles in Finance, Functional HR Management, Business Process Analysis and Business Process Reengineering. Manage the activities of the Cost Accounting function including but not limit to: a) Ensuring the proper allocation of overhead.b) Cost Control reports. c) Produce business units Income Statement d) Customer profitability reports
Key Achievements: Identified and absorbed unallocated expenses to various Cost Centers. Introduced online invoicing and supplierwise designwise stock control system in Wholesale Divisions to identify fast/slow/non-moving items supplierwise and designwise for the Inventory Control and Procurement purposes. Formulated policies, procedures and controls for Sales Incentive purposes. Controlled cost within the budget at the time PO level itself. Closed Books on time for the purpose of Quarterly, Half Yearly and Year End Audit and IPO Compliance process. Supported CFO and Corporate FM by compiling required information for IPO processes at Group level including Gold Wholesale Division
Responsibilities: Maintenance and Improvement of Financial Accounting System, Policies, Procedures and Internal Controls, Balance Sheet Grouping, Cost Centre Accounting and Analysis, Financial Reporting, Financial Analysis, Variance Analysis and Monthly Commentary on Overall performance at Holding Company Level-Preparation of Monthly, Quarterly and Yearly Closing Journal Vouchers and closing of Books, IAS/IFRS, KPIs reporting and compilation of KPIs, Planning-Short Term & Long-term, Forecasting, Projected Reports, Budgeting/Consolidation of budgets/Periodical review of budgets at Holding Company Level- Sales, Purchases, CAPEX, OPEX, Manpower, I.T, Variance Analysis, Cost Analysis and Control, CVP Analysis, GL and SL Analysis, Ratio Analysis, Contribution and Break even analysis- Brand/Supplier wise, Working Capital Management-Debtors Collection Monitoring, Payments to Creditors (Local and Foreign), Control of Accounts Payable and Accounts Receivable, Stock Control, Gold Stock and Making Charges Valuation, Overall Procurement/Replenishment Analysis, Purchase Order Management & Processing, Feasibility study of promotion/advertising and other related costs, Approvals of Expenditures-Petty Cash, CAPEX payments, Export-Import Procedures verification and Export Import Payments, Import Duty-BOE wise and overall Reconciliation, Allocation of Duty Expenses, Co-ordinate with- Internal/External Auditors/Suppliers/Department Heads, Fixation of Sales Making Charges, Fixation of Transfer Prices between the divisions, Proposing Turnover Incentive Scheme, Treasury/Finance Operations, Daily Treasury Product Controls, Accounting and Valuation of Various Treasury Products, Trade Finance, Commodities and Currency Hedging, Interest Swaps, Credit Control, Divisional Finance-Monitoring Funds/ Cash Management, Actual Vs. Projected Cash and Gold Flow Analysis, Analyse and advise on financial matters on an ad hoc basis, IPO processes-procedures-compliances, Correspondence, MIS and Recommendations.
Key Achievements: Addressed income leakages at Medical claims submission stage (Out) with overall Medical Service Counter collections (In) of various Departments and implemented Oracle based ERP HMS to resolve the issue. Income leakages due to rounding off of fils in the bills were addressed. Addressed overall Space/Time/Revenue/Doctors’ Leave Management Issues as various limiting factors and planned to maximise revenue accordingly in co-ordination with the Medical Director, Reduced Claims Loss Ratio by plugging the loopholes in the Systems, Processes, Procedures and in compliances with the Insurance Providers T&C.
Responsibilities: Treasury Management, Finance and Buyback options of Medical Equipments, Business Loans/Letter of Credit/Bank Guarantee/Cheque Discounting, Setting financial strategies and advice on financial matters, Consolidation and Finalization of Accounts at Holding Company Level, Closing of Books, Financial Reports and variance analysis and monthly commentary on overall performance, Analysis and Interpretation of Doctors/Suppliers/Clients/Other Contracts and inclusion of new terms, Practitioner-wise Revenue Earning Capacity Analysis, Revenue Cycle Management, Practitioner/Department/Divisional/Insurance Company/Corporate Client/Patient wise Profitability Analysis, KPIs reporting, Formulation of Financial Policies and Procedures, Inter Company Accounts, Credit Analysis, Ratio Analysis, Clinicwise/Doctorwise Contribution/Break Even Sales Analysis, Actual & Projected Cash Flow Statements, Maintenance of Fixed Assets, Service Costing-Consultation/Lab/Radiology/Others, Fixation of Service-wise Profit Margin and Price for Cash and Credit Clients such as Corporate and Insurance, Medical Insurance Claims Settlement, Medical Claims Rejection Analysis and denial management-Taking corrective action-Clinicwise/Doctorwise/Employee-wise, Standards and benchmarks for Physician Compensation/Productivity, AR Ledger Control and Analysis-Insurance & Corporates by practitioner-wise, Monitoring and Overall Reconciliation of Collections, Doctor-wise/Department-wise Annual Budgeting and Forecasting, Compilation of Budgets, Variance Analysis, Compliance of Regulatory Requirements, Compliance of Check List for All Projects, Financial Training to Department/Hospital Heads, Liasoning with- Government Departments like Federal Authority for Nuclear Regulation (FANR), Ministry Of Health (MOH), Dubai Health Authority(DHA), Department/Unit Heads/Banks/Financial Institutions, Internal/External Auditors/ Insurance Companies/Other Companies, Review and Evaluation of Internal Controls and Taking corrective measures, Cost Control, Inventory Control, Preparation of Tenders/Quotations, Feasibility Studies, MIS, Evaluation/Selection/ Implementation of ERP, Consolidation of Financials along with Commentary etc.
Key Achievements: Brought in more suppliers to the network of Display Rent, Trade Discount & Annual Turnover Schemes as a part of General Manager’s Local Suppliers Business Development Programme. Negotiated for price and credit terms with various local Suppliers
Responsibilities: Execution of new or revival of old Business Development Agreements with Suppliers/Tenants for Sublet Rent, Primary and Secondary Display Rent, Trade Discount, Annual Turnover Discount, Commission, New Product Launch Fee, New Outlet Fees, FOCs, such other fees etc. Inventory Control, OTB Control, Valuation of Stock, Product/Department/Merchandise-wise Sales and Sales Return Analysis, Maintenance and revival of Sub-Lease agreements, Budgeting, Budgetary Ratios (KPIs), Liaison with-Corporate Customers, Suppliers, Banks, Internal and External Auditors, Daily Cash Management, Analysis of performance of Independent Units, Department-wise Profitability Analysis of Super-Market/Department Store, MIS, KPIs Reporting, Preparation of actual and Projected Cash Flow Statements, Payroll Management, Inter Company/Shop Reconciliation Monitoring, Chart of Accounts, Maintenance and Finalization of Units/Group Accounts, Closing of HO Books, MoM, QoQ, YoY Financial Reporting and variance analysis and commentary on overall performance, Consolidation of Divisional Financials.
Reported to: Regional Finance Manager
Annual Turnover: Equivalent 400 million USD
www.supplycokerala.com
A public sector undertaking engaged in the trading and manufacturing or processing of food and consumer items, petroleum products, medicines etc. The responsibilities included: Budgeting, Budgetary Control, Variance and Performance Analysis-Master Budgets and Functional Budgets such as PnL, Cash, CAPEX Budgets, Manpower and IT Budgets of the Region. Business/Action Plans under normal operations and for special projects, Review and Deviation Analysis of Actual Performance of special projects with Business/Action Plans, Projections/ Forecasting, Inventory Control, Payments to Creditors, Purchase Process Control and Procurement Approvals, Demand Vs Supply Analysis for Outlets, Transportation Management, Debtors' Collection Monitoring, Sales Analysis/Sales Improvement Measures and Controls through Sales Mix Analysis, Recommendation of Sales Incentive Schemes, Monitoring of Daily Cash Sales/Collection and Remittance, Imprest Accounting- Monitoring of funds availability in various units, Reconciliation of GL and SL Accounts, Scrutiny of Accounts, Inter-Company/Shop Reconciliation, Ratio Analysis, Liaison with-Banks, H.O, Other Govt Departments/Stores, Internal and External Auditors, Preparation of Audit Response, Export and Import Procedures, Preparation of Actual and Projected Monthly, Quarterly and Yearly Financials and commentary on overall performance and variance analysis, Preparation of Monthly, Quarterly and Yearly Closing Journal Vouchers and closing of Books, KPIs reporting and compilation of KPIs, Preparation of actual and projected cash flow statements, Maintenance of Fixed Assets Register, Payroll Checking, Correspondence, MIS, Surprise Visits to Shops/Warehouses/Supermarkets, Periodical review of internal control systems and corrective measures in MS Office and ORACLE based ERP environment
Key Achievements: Successfully implemented Decentralised Sales Accounting System .Participated in Conversion of Manual Accounting System to Oracle based Accounting System.
• Articleship Training- Direct & Indirect Taxation, Setting up Tax System (Direct and Indirect), Filing Tax Return, Liaise with Commissioner of Direct/Indirect Taxation, Tax Audits, Tax Planning, Internal Audits, Concurrent Audits, Income Leakage Audit, Statutory Audits, Propriety Audit, Inventory Audit, Investigation, Company Law Matters, Formation of Companies/Partnerships, Ratio Analysis, Project Reports & Financing Activities support, Credit Rating Services, Internal Reorganisation support, Regulatory Compliances and Regulatory & Non-regulatory reporting related to all audit functions, Client Management, Audit Planning, Audit Working Paper Preparation and Maintenance, Peer Review Compliances and Co-ordination, Liaising with Sr. Audit Partner for various client base consisting of- Listed, Non-listed Co, PSCs, Star Hotels, Banks, NBFCs, Insurance Companies, Manufacturing/Trading Companies , Automobile Dealership Audit, Agency/Distributors/Brand Audit, Royalty/Franchisee Audit, Drafting of Partnership Agreements, Admission of Partners, Dissolution of Partnership Firms, Winding up of Companies, Sole proprietorships and Individuals • General Management and Communication Skills (GMCS) – ICAI, Cochin Chapter. • Advanced Excel Program for Professionals- Institute of Chartered Accountants of India, Dubai Chapter. • Project Management Professional Training Program-Cambridge Education, Dubai