Pradeep Devjani

Group Financial ControllerFull Time

• Job Details:Reporting to MD, my primary responsibility as leader of finance was to act as financial advisory to the board of directors and executive management team in implementation of strategic business plans through segment-wise MIS reporting and dashboard presentation, to develop risk management components to mitigate operating and financial risks, to collaborate with line managers across different functions to support timely decision making driving business growth potential. I have:  Developed internal control & audit procedures to align accounting functions in line with IFRS, local GAAP and internal policies & procedures.  Developed analytical models using sensitivity and scenario analysis tools to assess impact of change in costs & revenue on profitability of each profit centre.  Organised trade facilities including project and working capital finance, term loans, bank guarantees, documentary credits, factoring and invoice discounting.  Integrated planning activities between all business segments and operations team to develop consolidated 5-year rolling forecasts.  Driven financial planning activities including business plans, annual budgets & reviewed periodic performance of offshore projects with project managers and reported variances on key drivers.  Elaborated financial models to survey feasibility of large capex and long-term client projects through NPV / DCF analysis.  Implemented KPIs to manage capital productivity, trace variances and measure operating and financial performance using benchmarking activities.  Ensure compliance of tax regulations of subsidiaries operating in tax regimes including filing of monthly with-holding tax and annual income-tax returns. Key Achievement:  Arranged term loan of USD 29 million from two major banks in UAE for financing of vessels and projects.  Reduced operating cash cycle from 70 days to 20 days through effective credit control measures.  Reduced insurance costs by successfully negotiating policy renewals, resulting in savings of 0.75% per annum in premium on EAR policy.  Facilitated acquisition of UK entity for GBP 2 million after conducting feasibility study, private equity valuation and due diligence.  Reduced with-holding tax liability by 3% per annum by incorporating a “Permanent Establishment” in Oman.

Finance & Accounts ManagerFull Time

• Job Details:Reporting to finance director, I was accountable for financial control and reporting of 15 stand-alone subsidiaries and a consolidated group financial statements, to include, the production of periodic MIS reports, maintenance of an adequate system of accounting records, and a comprehensive set of controls and budgets designed to mitigate risk, and enhance the accuracy of the company’s reported financial results. As part of my role, I have:  Monitored and reviewed accounting records to ensure their completeness and adherence to IFRS, local GAAP and internal group policies and procedures.  Forecasted cash flow positions, related borrowing needs and available funds for investment.  Designed & Implemented internal control system for each finance function such as credit control, vendor payments, fixed assets, inventory, banking and inter-company transactions.  Prepared annual budget plans and short, medium and long term forecasts of income statement, balance sheet and cash flow, reflecting the business strategy.  Conducted periodical review with department heads to control monthly and year-to-date spend versus budget and identify risk/opportunity areas and cost saving opportunities.  Conducted detailed IRR/payback study to justify capital expenditure or major investments.  Developed tight policies for working capital management and hedged forex exposures consequent to changes in economic indicators.  Implemented standard costing framework to ensure cost control and reported changes.  Improved protection portfolio to ensure timely and adequate coverage of risks, specifically stock throughput arrangement and property all risks.  Ensured timely discharge of obligation and assessment of sales tax, VAT, custom duty by backups in consistence with local tax laws and regulations. Key achievement:  Arranged revolving term loan facility of USD 60 million from one of the major bank in Dubai for Capex and Opex requirements.  Introduced and implemented Bin Card system for warehousing and inventory control, resulting in savings of $80,000 per month in distribution costs.  Successfully implemented Oracle ERP by designing process for each of the function from production, sales, distribution to payroll, FA, GL accounting & finance.  Prepared and presented 5-year business plan to Pepsico for setting up a bottling plant in Afghanistan.