Probir Chakraborty

COO at RAK Investment Authority

• United Arab Emirates - Ras Al Khaimah
• December 2013 to June 2016

Ras Al Khaimah Investment Authority (RAKIA)
One of the largest industrial and financial conglomerates in the Gulf that owns and manages 30 million square meters of industrial land in both Free Zone and Non‐Free Zone jurisdictions. As the Chief Operating Officer of Ras Al Khaimah Investment Authority (RAKIA), I spearhead the Business Development, Sales, Registration & Licensing, Finance and IT divisions.

Designation: Chief Operating Officer (COO) Duration: Dec 2013 till May 2016
Reporting to: Board Turnover: US$ 100+ Million

Key Responsibilities
⇐ Responsible for developing and articulating RAKIA’s values, mission, vision and strategic goals.
⇐ Provide general supervision for RAKIA’s activities, including but not limited to, managing day‐to‐day operations and ensuring legal compliance.
⇐ Oversee development and implementation of company‐wide policies and standard operating procedures.
⇐ Communicate relevant information to RAKIA’s Board of Directors in order to facilitate discussion and decision‐making on topics of a strategic nature.
⇐ Work closely with the CEO, Chairman of the Board to enable the Board and its Committees to fulfil their governance functions.
⇐ Work with RAKIA’s Board of Directors to ensure financial support for the Company’s short‐ and long‐term goals.
⇐ Encourage a work culture and environment that allows employees to contribute effectively and excel in their jobs.
⇐ Implementation of integrated CRM and ERP system with SAP.
⇐ Maintain excellent personal relationships with Ambassadors & Trade Consuls of various countries.
⇐ Serve as chief spokesperson for RAKIA, ensuring appropriate representation of the Company to the press and media.

Accomplishments
⇐ Led RAKIA to achieve YoY revenue growth of 25% and net profit growth of 15%; both numbers were in excess of the Board‐approved budget for FY2015 (all numbers YTD).
⇐ Led RAKIA to achieve YoY revenue growth of 27% and net profit growth of 15%; both numbers were in excess of the Board‐approved budget for FY2014 (all numbers YTD). 2014 is RAKIA’s best financial year ever.
⇐ Successfully negotiated loan repayment agreement with a RAK government entity thereby guaranteeing RAKIA better access to, and use of, its capital. Restructured Debt of AED 650 Million at a reduced borrowing cost by 100 basis points.
⇐ By following a structured and rigorous process to solidify RAKIA’s balance sheet, improved the Company’s current ratio from 2.3 in FY2013 to 2.8 in FY2014 to 2.9 in FY2015.
⇐ Worked closely with RAKIA’s Board of Directors to resolve outstanding complex financial issues from a past demerger.
⇐ Delegated decision‐making through the creation of empowered internal committees; as an example, RAKIA’s Credit Control Committee that I instituted recovered AED 9.75 M of doubtful debt in FY2015 & AED 6.75 M of doubtful debt in FY2014 as compared to RAKIA’s recovery of AED 0.2 M in FY2013.
⇐ Institutionalised standard operating procedures with a view towards enhancing RAKIA’s service promise to its customers and key stakeholders.
⇐ Conceptualised and launched RAKIA Tenants’ Committee, an interactive forum set up along the lines of a corporate Board of Directors, consisting of senior executives from RAKIA and its tenants working towards accomplishing shared goals.
⇐ Increased revenue streams by developing numerous after sale services: offering banking and insurance products, i.e., collaboration with Emirates Post, hosting shared IT servers for SMEs, shared transportation.
⇐ Established strategic synergies with other international Free Zones.
⇐ Led RAKIA to achieve the following prestigious awards:
o “Best Free Trade Zone in the GCC for 2014” award from UK‐based International Finance Magazine
o “Best Free Zone Middle East 2014” award from UK‐based Global Banking and Finance Review