Aravind Devarakonda, ACA
Email: aravind992002@yahoo.co.in, aravind.devarakonda@gmail.com
Contact Nos.: +91 73388 44155 Current Location: Hyderabad
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Senior Finance & Business Management Professional – 20 years PQE
Strong track records of extraordinary performance in highly competitive scenarios
Snapshots: Proactive, quick decision making, details oriented, computer savvy, results focused and qualified Chartered Accountant (ACA) and Chartered Secretary and Administrators (ICSA, UK) with more than 25 years of insightful experience across Finance & Accounting, Compliance management, Budgeting, Forecating, Strategic planning, Treasury & Working capital Management, System implementation and providing support in the implementation of SAP R/3 /Swing/Hyperion; excellent exposure in heading finance functions involving determining financial objectives, developing & implementing policies & procedures to facilitate internal financial control; expertise in generating, analyzing & cascading financial information to facilitate wise financial decision making; Pragmatic, with proven managerial acumen and abilities to withstand work pressures, deliver assignments within specified time frame without compromising on quality benchmarks.
Core Competencies include…
Financial Vision & Strategic Planning ~ Finance & Accounting ~ Business Strategy & Expansion ~ Business Partnering ~ IFRS, US & IGAAP Standards~ Financial Reporting ~ Audit (Internal & External) ~ Budgeting & Forecasting ~ Fund Management ~ Commercial Operations ~ Regulatory Compliance ~ Treasury & Working Capital Management ~ System Implementation ~ Team Coordination ~ Team Building & Leadership ~ Problem Solving Skills
Profile Overview
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? Experienced in setting-up of business start-ups, Shared Services and manufacturing facilities, conceptualizing and implementing Finance Operations, Treasury, Cash and Funds Flow management, working capital and receivables management, Fund raising and debt restructuring, Business Partnering and Decision support, Internal control, Financial reporting, Performance improvement and consistently delivering Mission-Critical results
? Skilled at managing Financial Accounting & Compliance, Budgeting & Forecating, Strategic planning, Treasury operations, system implementation, Change Management, translate strategic initiatives into operational business plans, develop corporate policies, procedures and performance evaluation tools.
? Flair to continuously upgrade knowledge with cutting edge and emerging trends in accounting and financial management system; carries an unsullied image of integrity and honesty
? Computer savvy with proficiency in using Microsoft tools, ERP - SAP R/3 Implementation, Support & End User of FICO, SAP BW/BI, Navision, Hyperion (HFM), Longview 7, Backline, Tally ERP 9, Oracle Financials & Fox based Packages
? Visionary & decisive leader, noted for sound, practical management style and excellent organization, communication, presentation & interpersonal skills; Proven ability to lead and motivate large cross-functional and multi-cultural teams to maximize productivity; possessing positive, pleasing and cheerful personality.
Professional Experience
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Elan Live Nation WLL, Doha - Qatar Jan’ 17 to Sep’18
Finance Director
Elan Live Nation is a Joint Venture between Elan Qatar, (a diversified media and entertainment company offering media, urban city beautification, events, and entertainment services throughout the region) and Live Nation Entertainment Inc., US (a Global Leader in Live Entertainment Industry with an Annual Turnover of over $7 billion) to operate sports & entertainment venues and organize cultural and sports events. (volume managed: Capex Budget managed $200 million Annual Opex managed $ 240 million)
Responsibilities:
? Responsible to set-up Finance, HR, IT, procurement and commercial operations for the business.
? Responsible for developing and rollout Operating policies and procedures for the JV
? Develop monthly Reporting packs to the Joint venture partners and Ministry of Culture and Sports
? Assist commercial and operation teams in event pricing and costing of projects/events
? Implement ERP system to integrate all aspects of the business and to develop KPI dashboards
? Set-up banking and treasury operations (facilities arranged: $ 300 million)
? Liaise with Ministry to obtain operating fund sanctions: (Annual $200 million).
? Setting-up rolling revenue and profit forecasting models
? Contract Development for service providers such as Catering, Merchandise, Manpower services, and event set-ups.
? Work with Marketing team to develop sponsorship and naming rights programs
Accomplishments:
? Polices developed for Finance, HR, IT,Procurement and Commercial
? Banking Facilities organised (facilities arranged: $ 300 million)
? Liaise with Ministry to obtain operating fund sanctions: (Annual fund sanction $200 million).
? Contracts finalised for major service providers
? Set-up rolling financial forecast models
? KPI Dashboards developed
? Navision ERP and Event Booking Software implemented
? Pricing Models developed for Event pricing
Tranguard Group LLC, Dubai - UAE Oct 2015 to Oct 2016
Head - Group Financial Planning, Reporting and Analysis
Transguard Group, an Emirates Group Company is one of the leading business support service providers in UAE region. Transgurad with specialization in aviation, security, manpower, facility management and cash services is a true market leader in Dubai with around US $390 million annual turnover
Responsibilities:
? Responsibility of managing the Financial Information System requirements of the Group
? Preparing and presenting monthly consolidated group performance reports, conducting performance analysis & developing standard metrics and reporting
? Developing and delivering the Group strategic plan, budgets, quarterly as well as rolling forecasts and ongoing performance reports to support accurate decision making
? Responsible for providing Corporate Finance support for Project pricing and new line of businesses analysis
? Managing ERP, EPM and other information systems, and ensuring continuous development of the Business Intelligence capability
? Involved in continuous identification and deployment of system enhancements to improve the quality of management information across the Group
Accomplishments:
? Successfully developed and implemented Balanced Scorecards across group and its sub business units
? Appreciated by the management for introducing rolling monthly forecasts, developing 5 year strategic plan and finalizing Annual Budgets for 2016-17
Haworth India, Chennai - India Jul 2012 - Oct 2015
CFO & Finance Director
Haworth India is a wholly owned subsidy of Haworth Inc. USA. Haworth Inc. is a global leader in the design and manufacturing of organic workspaces, including raised floors, movable walls, systems, furniture, seating, storage and wood case goods. Family-owned and privately held, Haworth is headquartered in Holland, Michigan, and serves markets in more than 120 countries through a global network of more than 600 dealers with a global turnover of US $1.8 billion. Haworth India functions in Indian and emerging markets through one wholly owned manufacturing plant, 5 Sales offices in major cities and dealer setups in Tier 2 cities and emerging markets (annual India turnover Including Duty free sales from Singapore $ 260 million).
Responsibilities:
? Responsible for managing Finance & Accounts, Treasury, Controllership and commercial functions
? Business partner to the leadership team by providing timely and relevant management information to steer business decisions and help improve overall business performance
? Involved in preparing and presenting strategic business plans, budgeting & forecasting, P&L analysis, performing Actuals Vs Budgets analysis, tracking expense controls, due diligence etc…
? Responsible for developing and implementing processes to enhance operational efficiency; taking Strategic pricing decisions, negotiating with vendors and contracts development for major orders
? Developing & fostering relationships with banks & FIs and securing credit lines for all requirements
? Assigned responsibility of managing credit control processes, working capital, cash flow, FX risks and related treasury activities; Generated various businesses and other MIS reports to assess the health of the business
? Ensured Legal & taxation compliances, system integrations and related internal controls
? Formulated export policies and procedures to attain geographical growth and guided company in M&A strategies to gain competitive synergies
Accomplishments:
? Instrumental in setting up a green field manufacturing plant in India (funds arranged through ECB and local commercial borrowings $ 60 million)
? Achieved 80% local sourcing by successfully introducing new products suitable for Indian markets and improving localized sourcing of components
? Made valuable contribution in capturing market share & establishing the brand in A Grade market segment (CAGR for last 3 years is 17%)
? Driven cost saving projects through developing project by project pricing model (2-3% bottom line improvement)
? Developed transfer pricing model for India specific to avoid tax disputes and to obtain maximum tax savings.
? Awarded as Haworth APAC Regional high flyer for 2015
Stanley Black & Decker India, Bangelore - India Apr 2009 - Jul 2012
Finance Controller
Black & Decker India is a wholly owned subsidy of Stanley Black & Decker Corporation USA. Stanley Black & Decker Corporation is a leading global manufacturer and marketer of power tools and accessories, hardware and home improvement products and technology based fastening systems with annual turnover of over US$ 11 billion. Stanley Black & Decker India functions in Indian market through one manufacturing plant, 6 Sales offices in major cities, dealers and service centers across India, Sri Lanka and Bangladesh
Responsibilities:
? Assigned responsibility of setting up the finance function and controlling F&A operations
? Responsible for the Capex management, rolling out various cost saving & control measures to obtain synergies from mergers and growth in operations
? Communicated and liaised with Bankers for raising funds for various working capital requirements and interfaced with Auditors & Govt. Agencies for timely completion of audits and statutory filings
? Part of the margin analysis projects to analyze and place company’s products in a competitive position without compromising market share
Accomplishments:
? Applauded for setting up the efficient finance function and establishing/rolling out Controllership function in line with US & Indian GAAP standards
? Successfully controlled the merger of Stanley Works India and Black & Decker India operations
? Implemented & rolled out SAP R/3 involving migration, post implementation support and end user FICO training
? Achieved one and half time improvement in Working Capital by reducing DSO from 63 days to 42 days
? Successfully generated additional free cash flows of US $ 2 Mn through effective working capital cycle management
? Moved up the company from 4th position to 2nd position in terms of market share within a span of 3 years of business operations only by efficiently managing business growth
? Improved operating margins from 1% to 13% of sales by handling various margin enhancement project
? Initiated and rolled-out many cost saving & control measures to obtain synergies from the mergers and from growth in the operations
Almarai Company, Riyadh - KSA Aug 2002 - Feb 2009
Corporate Finance Manager
Almarai Company is a publicly listed ISO 27001 certified company and the largest Dairy manufacturing company in the Middle East business with over US$ 1.3 billion annual turnover (2008).
Responsibilities:
? Entrusted with the responsibility of managing SAP Implementation and finalizing internal & external financial results in compliance with IFRS standards
? Developed cross functional SOPs and engaged in developing policy documents in line with SAP standard processes
? Managed activities involving period/year-end closing, actual costing runs, standard price maintenance, month & year - end Forex revaluations, preparing annual budgets and monthly rolling forecasts
? Responsible to prepare and present detailed monthly and yearly financial performance analysis for the Executive and Full Board
? Responsible for Treasury operations including cashflow forecasting and arrangement of find and non-fund based facilities
? Participated in mergers and acquisitions to setup processes to incorporate subsidiaries into the group results (both financial and SAP functionalities).
? Provided Interim and annual financial & commercial information to Capital Markets Authority (CMA) Tadawul (Saudi Stock Exchange) to meet statutory requirements
? Evaluate product / customer profitability by ascertaining margin & profit at SKU /customer level by allocating material costs and overheads to SKU’s/customers Involved in supporting migration, providing post implementation support and training end users on FICO
? Responsible for maintaining WBS structures maintenance, carrying forward of balances (AP, AP, GL, CAPEX), change in standard prices and stock revaluations etc.
? Resolved issues related to internal control within the module and cross module functionalities, ensured smooth processing and timely closure of month-end & year-end accounts using SAP R/3
? Involved in SAP R/3 implementation for fixed assets, project management, profitability analysis (CO–PA), enhancement of SAP HCM modules and developments involving e- payments, Business and Warehouse
Accomplishments:
? Successfully implemented SAP FICO (GL, AP, AR, CCA, PCA) and migrated legacy data from Baan to SAP R/3 resulting in to substantial increase in profitability
? Banking facilities arranged $1 billion (both capex and opex)
? Interst free loan obtained from Saudi Industrial Development Fund ($ 700 million)
? Commended by the Management for redesigning company’s existing internal policies & procedures in SAP
? Developed Monthly MIS and reporting packs with detailed analysis and trends for the Group
Previous Engagements________________________________________________________________________
LG Polymers India Pvt. Ltd., Vizag, India Sr. Executive – Finance Feb 1999 – Aug 2002
Apple Credit Corporation Ltd., Vizag, India Regional Accounts Officer Nov 1997 – Jan 1999
Manoj & Prem Associates, Chartered Accountants, Vizag, India Audit In-Charge Nov 1995 – Aug 1997
Y.V Jagannatha Rao & Co., Chartered Accountants, Vizag, India Article/Audit Asst. Dec 1991 – Jan 1995
Credentials
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? Chartered Accountant (ACA), Institute of Chartered Accountants of India (ICAI), India, 1998
? Company Secretary, Institute of Chartered Secretaries & Administrators (ICSA), UK, 2006
? PG Diploma in Accounting Software, Indian Institute of Applied Accountants, Vizag, India
? Bachelor of Commerce, Andhra University, India, 1991
Professional Development
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Training/Seminars: Attended various CII and Tax & Transfer Price seminars in India
Nominations: Nominated for MDP - Programme & Finance Excellancy program in Haworth and Black & Decker
Won Regional High Flyer award for exceptional Business support in Haworth
IT Skills: Proficient with the use of MS Office Tools, ERP - SAP R/3 Implementation, Support & End User (16 years - FICO), SAP BW/BI, Hyperion (HFM), Longview 7, Backline, Tally ERP 9, Oracle Financials & Fox based Packages
Personal Details
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? Date of Birth : 11th Aug 1970
? Languages Known : English, Hindi, Telugu
? Nationality : Indian
? Passport Details : No. Z3126682, valid till 11th Jan 2025
? Driving License : Valid Qatar & Indian driving licenses
~ References Available Upon Request ~