Managing Partner
MARS
Total years of experience :18 years, 11 Months
VAT Implementation and Consultancy, Accounting and Auditing, Virtual CFO Services
Work with the second largest lease finance company in Oman and heading accounts, finance, market strategy and banking & treasury department, reporting to CEO. The company has OMR 140 Million (App USD 370 M) of asset base. The company has portfolio of finance & operating leases, SME & retail customers, new & uses vehicles & equipments and other products like bill discount, warehouse finance, bridge finance, securitizations. Team consists of 20 staff.
Budget & Strategic Plan: Develop annual business plan and budget. Monitor performance analysis and recommend corrective actions. Suggesting & implementing various cost control measures. Closely working with marketing team for new scheme development. Periodic performance review of the schemes & strategies.
Capital & Fund Raising: Managed two rights issues. Raise the borrowings from OMR 35 M to OMR 90 M to fund the growth. Maintain healthy relationship with bankers.
Policy & Procedure : Design and implement of policies & procedures. Review policies & procedure periodically and revise as per business need.
Risk Management: Member of Asset Liability Management Committee (ALCO), monitor and manage liquidity risk, interest rate risk and credit risks. Review of RCSA & improve the mitigating factors of high risk items.
Marketing: Scheme design, monitor scheme performance, review marketing strategies, manufacturer & dealer tie-ups, subvention & finance support, now product launce.
Finance & Treasury: Arrange financial resources from local & overseas lenders, P&L management, manage liquidity position and monitor PDC management.
IT : Overlook data analysis and migration in FinOne, member of FinnOne design & implementation committee, provide post implementation teething problem solutions as business system expert.
Accounts, MIS & Audit: Design & oversee implementation of accounting policy & procedures and accounting transactions. Finalize accounts as per IFRS & local regulations, monitor bank reconciliation, monthly income statement & balance sheet, customer / dealer's a/c reconciliation. Responsible for clean internal, external and regulator audit.
Banking & Operations (Team size - 100+ staff)
Project :Team member with Mckinsey & Co. on project “Risk management & operation efficiency”.
Fund raising: Liquidity Management-securitization of portfolio, liaison with banks for working capital requirements, monitor bank accounts having annual cash flow in excess of INR 10, 000 crores.
IT: Data analysis and migration during SAP implementation. Provide solutions as functional system expert.
Risk Management: Perform analysis of exposure, overdue, ODMR ratio of customer types, regions & branches and vehicle types to have portfolio diversification for risk mitigation, fixation & maintenance of dealer credit limits.
Accounts & Audit: Manage proper accounting of inflow & outflow of funds. Monitor bank reconciliation, cash flow statement, consolidation & finalization of accounts, customer / dealer's a/c reconciliation and audit.
Marketing: Scheme design, monitor scheme performance, manufacturer & dealer tie-ups, subvention & finance support, now product launce, dealer schemes.
Operation: Manage CMS operation, retail collection & banking, PDC management, branches / HO reconciliation, people management with high degree of adherence of SLA.
Receivables Management: Recovery process of hire purchase / loan Installments, auction of repossessed vehicles, initiate legal action. Appoint & develop collection & repossession agencies.
Insurance: Monitor timely insurance of vehicles, proper & timely settlement of claims and recovery of insurance premium from hirers/borrowers etc.
MIS: Monitor various control statements & advice CEO, design finance schemes with subvention and incentives.
Process improvement: Involvement in 6 sigma activities, undergone Black Belt training, Involvement in TEBM (Tata Business Excellence Model).
Major achievements in Tata Motors:
•Manage smooth merger of operation & banking activities of Tata Motors & Tata Finance
•Manage smooth implementation of SAP & merger of data of Tata Motors & Tata Finance
•Achieve float of fund reduction from 12-15 days to 2-3 days saving more than INR 3.50 Crs. PA towards interest cost
•Achieve substantial reduction in overdue. Reduced over 12 months overdue from INR 11.5 Crs to INR 6.70 Crs during 2001-02.
•Achieve 100% outsourcing of Data Entry save INR 10-12 Lacs PA
•Prepare project for Insurance Brokerage potential earning of INR 400-500 Lacs PA
The Job responsibilities were ensuring proper accounting of transactions, finalization of regional accounts, audit, financial control of branch, working capital management, liaison with banks for LC/Bill discounting, taxation work (Sales Tax, Excise and Income Tax), MIS, preparing bids for govt. tenders, follow-up with govt. agencies for collection of dues, sales administration & market support function including credit fixation of dealers, credit control and monitoring sales promotion activities, arranging conference, dealers & customer meet, appraisal of dealers, administration of branch office, administration of company’s godown& C & F operation & transportation, handling legal matters and compliance of other statutory requirements.
. Edu. Raj Hr. Secondary
Edu. Raj Secondary