finance manager
Pico
مجموع سنوات الخبرة :22 years, 8 أشهر
Expo Finance Manager to manage cash-flows, project margin and payments. Working closely with construction team to deliver pavilion build and fit out for Expo clients.
Overview
Sales: Nexant Ltd $13m, Asia Pacific $7m, Americas $6m, Subscriptions $7m.
UK team: 8 (1 Head of Finance, 3 project accountants, 1 AP, 3 implementation contractors).
Branch in Bahrain using accounting office, monitoring of costs, payment of salaries.
2015: Financial Controller reporting from Bangkok covering Thailand, Malaysia, China.
2016: Took over consulting and subscriptions division for Americas.
2017: International lead for implementing new ERP - Oracle Fusion.
2018: Reorg to shared services in London, consolidating project accounting from NY and Asia.
Accounting
Projects-based company including fixed-price, monitoring, time & material and subscriptions.
Key project outcomes: accurate revenue recognition, lowering unbilled, project margins analysis.
Reduction of overdue invoices through systematic escalation process.
Month-end financial reporting and board reporting of Business Unit results to EBITDA.
Year-end audit, creation of financial statements and submission of tax.
Correct inter-company cost allocations across Business Units to match revenue earned.
Accuracy of General Ledger, balance sheet reconciliation and accrual estimates.
Other areas: payroll, expenses, withholding tax, appropriate insurance.
Business support
Top-level and operational-level KPI reporting: pipeline, backlog, revenue, utilisation, collections by sectors and geography.
Developing annual forecast and monitoring results by Business Unit.
New markets development: compliance with customer requirements in Former Soviet Union states, Middle East including finding UK bank for business with Iran.
Office rent negotiations in UK, Bahrain, US, opening new office in Germany, closing Singapore.
Resolving business or commercial issues: contract terms, credit checks, corporate guarantees.
Workshops with consultants for controlling projects, revenue recognition, financial statements.
Results
• Turnaround of UK division from -$240k loss in 2015 to $1.7m$ operating profit in 2016 with similar turnover, 2017 continuing operating profit for UK of $1.6m$.
• Cost reductions 2016-17 in savings per year: private medical insurance renegotiated $130k, Bahrain smaller serviced offices $87k, changed auditor/tax $27k, renegotiated rent after break clause $46k lower than landlord's initial demand, headcount reductions.
• Cost reductions from other one-off savings in earlier years: NI refunds of overseas staff $120k, corporate tax renegotiation 2012 $62k, rates reduction $40k, move to part-time staff $9k, lower cost mobile phone contract $22k.
• Significant reduction in trade debtors from over 35% of revenue to 17% at end of 2016.
• Significant reduction in WIP/unbilled work from $2.2m in 2015 to $1.1m in 2017.
• Successfully claimed VAT refund of $270k in Thailand, refunded January 2018 after one year.
• Successfully used tax losses in Netherlands entity after working with tax advisors.
• Developing new project management metrics and reporting on project health, weekly KPIs.
• Close working relationship with senior management, project managers and head office, and encouraging Finance team to do the same.
Group consolidation and statutory reporting (IFRS) of 5 European entities, including audit.
Monthly accounting including large contractor payment runs, balance sheet reconciliation, payroll.
International tax planning with PwC and Swiss firm in Zug, transfer pricing and royalties.
Group support including Sao Paolo and Singapore offices for accounting and payroll.
Working closely with FP&A for reporting and treasurer for cash-flow projections.
Results
•Significantly reduced costs, $80k savings in 2009, $56k in 2010.
•Improved company's international tax management - finalising long-running Stuttgart tax audit, privileged tax status for Geneva to obtain lower tax rate, transfer pricing update.
•Simplified group reporting process, leading team to bring Tokyo office on to SAP.
Reporting of P&L including gross margin analysis, flash reporting, Hyperion upload.
Covered monthly balance sheet review including property, capex, vehicles, VAT liabilities.
Reconciled and collaborated with overseas companies for inter-company advertising fees.
Managed team of 2 in Large Format and Media Services divisions.
Results
•Led project with divisional accountants to close month-end within 3 days instead of the previous 7 because of shorter head office deadline.
•Supported Group FC by taking on more of her tasks including running month-end checklist.
•Led team to document all financial processes within two months to simplify cross-training and to be audit compliant.
•Developed good relations with operations to understanding asset movements.
Microchip manufacturer
Accounting for UK including payables, bank, trade debtors, cash-flow, budgeting.
Consolidated five small European subsidiaries and Israel for US, highlighting budget variances.
Weekly calls reporting to EU Vice President and country managers on revenue analysis, updating rolling forecast, actual vs. budget report and commentary.
Results
•Simplified sales forecasting methodology and sales incentive plan.
•Lessened time to consolidate subsidiaries and trained up another accountant.
•Automated half the financial journals for faster, error-free month-end closing.
•Introduced new software to reduce processing of department's reporting.
Accounting for multi-branch sales and cost to gross margin.
Providing monthly management pack of KPI's, and financial information to branches.
Aided FC with rolling forecast by branch and region, highlighting significant variances.
Gained experience as part of transition team to Oracle, reconciling financials and stock.
Results
•Created easy-to-produce sales tracking report by client, lapsed accounts, product mix and client margins to help managers target sales effort.
•Created new credit control database with Access as interface for more flexible reporting.
•Reduced by half-day time needed for management report to discuss results earlier.
BA (Hons) Political Science