SANKET M. DESAI
(Chartered Accountant)
Results-driven financial management executive with over 15 years of experience, including 10 years as a Finance Manager in the UAE. Proven expertise in financial leadership, tax and statutory compliance, and spearheading successful ERP implementations to streamline operations and drive business growth.
casanketdesai@gmail.com +971 55 2108027 www.linkedin.com/in/casanketdesai10
Highly-accomplished Finance and Accounts Management Professional with extensive experience in financial modeling, strategic finance planning, tax compliance, IFRS adherence, budgeting, forecasting, and cost control. Expert in managing bank facilities, streamlining ERP implementations, and optimizing accounting processes to enhance operational efficiency. Proven track record of leading high-performing teams and delivering insightful MIS reports for data-driven decision-making. Strong leadership and communication abilities, committed to ensuring financial accuracy, statutory compliance, and driving growth across diverse industries.
Core Competencies
• Financial Analysis & Planning
• Financial Modelling & Reporting
• ERP Implementation
• Profitability & Variance Analysis
• Statutory Compliances
• Tax Planning & Compliance
• IFRS Standards
• Bank Facility & Trade Finance
• Consolidation of FS
• UAE labour Laws & WPS Process
• Import – Export
• Budgeting & Forecasting
• MIS & Cost Control Strategies
• Cash & Fund Flow Management
• Project Analysis & Reports
• Team Management & Mentoring
• Organizational restructuring
Profile Summary
Accomplished finance management professional with extensive experience in financial operations, accounting, and taxation, particularly within the dynamic landscape of the UAE market.
Proven track record in financial modeling, project cost analysis, various profitability analysis, product performance, significantly driving financial performance, leading MIS reporting, ratio analysis, budget vs actual, variance analysis, control balance sheet and supporting informed strategic decision-making.
Successfully transformed financial reporting processes, achieving a 30% reduction in reporting time while enhancing the presentation, accuracy, compliance and reliability of finance analysis and planning.
Tax Compliance & Filing: Highly skilled in interpreting tax laws and ensuring compliance. Successfully executed UAE corporate tax registration, assessments and tax planning, managed UAE VAT registration, compliance and navigated taxation in KSA and Oman, as well as Indian taxation.
Strong leadership and team work abilities demonstrated through the cultivation of a collaborative team environment that fosters accountability and propels financial excellence across departments.
In-depth expertise in navigating complex regulatory frameworks, ensuring compliance with IFRS standards and local regulations, effectively mitigating financial risks for the organization.
Bank Liaison & Facility Management: Extensive experience liaising with banks and negotiating facilities, including Export and Import LCs, trade financing, various guarantees, PDC discounting, invoice financing, Wakala Murabaha, overdrafts, and project financing.
Led the successful implementation of a new ERP system, streamlining financial operations and data accuracy, which resulted in a remarkable 25% increase in operational efficiency.
Comprehensive understanding of financial analysis and reporting, facilitating the identification of key performance indicators that drive profitability and operational improvements, positioning the organization for sustained success.
Organizational Experience
Finance Manager - Contracting & Production | In Out Contracts & LLC Group Dec’23 – Till Date
Leading the successful implementation of ERP software, overseeing customization and development, which enhanced financial and operational processes, resulting in streamlined workflows across departments.
Reorganizing and structuring company books, ensuring compliance with accounting standards and facilitating a seamless transition to the new ERP system, leading to improved financial transparency.
Developing and executing comprehensive financial strategies, aligned with company growth objectives, contributing to optimized resource allocation for current and future projects.
Spearheading the development of long-term financial strategies and forecasts, driving diversified project portfolios and ensuring organizational financial resilience through proactive risk management and strategic capital allocation.
Preparing comprehensive budgeting processes, ensuring accurate preparation, approval, and ongoing monitoring, which resulted in enhanced expense control and strict adherence to financial limits, improving overall financial governance.
Enhancing production processes by conducting variance analysis and implementing cost control measures, driving operational efficiency, reducing costs, and improving overall financial performance.
Contracting & Production division transaction verification including intercompany job card, BOM, BOQ, production stage completion, budgeting, finished goods profitability statement and intercompany reconciliation.
unit cost control, overviewing the production planning, Controlling and managing work in progress, raw material consumption in proportion and finished goods cost evaluation
Optimizing cash flow management, preparing detailed project forecasts and ensuring financial stability and liquidity, significantly reducing project financing risks.
Directing all accounting functions, including general ledger management and accounts payable/receivable, ensuring compliance with UAE financial regulations, IFRS standards, and tax laws.
Conducting cost analysis that identified key operational savings, reducing expenses while improving overall business efficiency and staying within budgetary constraints.
Partnering with legal advisors to negotiate favorable contract terms and resolve financial disputes, enhancing compliance and improving payment structures.
Pioneering process improvements by integrating advanced financial tools, driving efficiency and accuracy in financial reporting and operational processes.
Ensuring UAE labor law compliance and efficiently managed WPS processing for 300 employees, streamlining payroll and adherence to legal standards.
Managing corporate tax registration and implementing strategic tax planning initiatives, optimizing tax liabilities while ensuring full compliance with local and international tax regulations, contributing to overall financial efficiency.
Steering monthly project evaluations, including in-depth analysis of project profitability, ensuring accurate financial reporting and facilitating data-driven decision-making to maximize returns on investment.
Finance Manager | Goodrich Trading LLC Jun’23 – Dec’23
Conducted detailed evaluations of monthly financial statements, ageing reports, consolidation and profitability analyses to enhance decision-making and identify key performance indicators for improved product profitability.
Verified monthly claims from retail and online partners to ensure accuracy and compliance with agreed price terms, significantly minimizing discrepancies.
Managed import/export documentation and financing processes, including Letters of Credit and Bill Discounting, ensuring timely compliance and reducing operational delays.
Optimized utilization of bank facilities through strategic negotiations, enhancing financial flexibility and minimizing banking costs.
Developed comprehensive weekly and monthly management reports, including sales comparisons, product performance, profitability, and fund flow analyses, facilitating strategic planning and performance tracking.
Streamlined customer invoicing and claims settlement processes, enhancing collection efficiency and significantly reducing overdue receivables through timely follow-ups and reconciliations.
Ensured compliance with VAT regulations and return filling, while adhering to customs regulations.
Corporate Tax organization structure assessment, transaction evaluation, preparation and various arrangements for tax planning, drafting various agreement and IFRS standards compliance.
Finance & Accounts Manager | Omnitec Security Systems LLC & Group Sep’21 – Oct’22
Led the reconciliation and consolidation of financials across a group of companies, ensuring accuracy, transparency, and alignment with corporate financial reporting standards to provide a unified financial view.
Successfully activated bank facilities from the ground up, negotiating terms, securing funding, and establishing key banking relationships that strengthened the company’s liquidity and financial flexibility.
Controlled project cash flow evaluations, ensuring timely identification of financial risks and opportunities for improvement.
Maintained and upgraded internal controls to safeguard revenue, costs, and budgetary compliance.
Coordinated with external auditors to facilitate the final audit process and ensure timely delivery of audited financial statements.
Oversaw verification of Import & Export Letters of Credit (LC) terms, managed import/export documentation, and facilitated financial processes such as invoice financing, trust receipts, PDC discounting, bill discounting, and bank guarantee applications, ensuring smooth international trade operations and adherence to financial protocols.
Negotiated favorable payment terms with suppliers and contractors, optimizing cash flow and reducing operational costs.
Enhanced financial reporting accuracy through the implementation of new internal controls, resulting reduction in discrepancies.
Ensured compliance with labor laws and managed the Wage Protection System (WPS) process, guaranteeing timely salary disbursement and legal adherence, while mitigating risks related to workforce management.
Successfully managed the VAT return filing process, achieving compliance.
Developed a comprehensive training program for the finance team, resulting in improved skills and performance.
Streamlined intercompany transaction processes, enhancing financial transparency and operational efficiency.
Conducted thorough verification of project invoices, trading invoices, and transactions involving raw materials and finished goods, ensuring accuracy and compliance with financial standards to facilitate seamless accounting processes.
Prepared monthly finance reports and maintained strict control over the balance sheet and profit & loss statements, providing insightful analysis and performance metrics that supported strategic decision-making and financial oversight.
Finance Manager | Karaman Veterinary Medicine Co. LLC & Group Apr’15 – Aug’21
Ensured compliance with new VAT regulations by implementing prompt reporting processes and achieving smooth VAT registration, thereby enhancing the organization’s adherence to tax obligations and minimizing the risk of penalties.
Enhanced operating processes by drafting Standard Operating Procedures (SOPs) and establishing robust internal controls, which streamlined financial operations and improved overall efficiency.
Managed the financial books of accounts for 3 companies and 8 branches, conducting monthly consolidation and evaluation to ensure accurate financial reporting and strategic oversight across the organization.
Achieved a 3.5% reduction in bank facility costs post-joining, through effective negotiations and financial strategy implementation that enhanced the organization’s cost efficiency.
Preparation of Budget and Forecasting considering the past three years data analysis, new product launch, new business opportunities, sales forecast by sales team and management vision.
Restructured business operations and established an entity within designated free zones, optimizing cost management, particularly concerning customs duties and regulatory compliance for high sea transaction.
Generated various management reports, including product-wise profitability, branch-wise performance metrics, and evaluations of new product launches, providing critical insights for strategic decision-making.
Led budgeting and forecasting initiatives, ensuring that financial plans were aligned with organizational goals and facilitating informed resource allocation.
Oversaw the Wage Protection System (WPS) and salary processes, ensuring compliance with labor laws while promoting timely and accurate salary disbursement.
Liaised with auditors, banks, and various stakeholders on behalf of the company, fostering strong relationships and ensuring clear communication regarding financial matters.
Verified and provided input on commercial terms for various agreements with vendors, agencies, suppliers, and tender submissions, ensuring favorable terms and compliance with organizational standards.
Conducted verification and negotiation for various financing options, including Letters of Credit (LC), Cash Against Documents (CAD), Trust Receipts (TR), and Invoice Financing, optimizing financing arrangements for both Islamic and conventional transactions.
Managed the verification of all Import & Export documentation, planning for execution to ensure compliance with international trade regulations and smooth operational flow.
Led the implementation of the Focus 7 ERP system, ensuring alignment with internal controls and addressing queries during and post-implementation.
Provided timely updates to management regarding new regulatory requirements, including VAT laws and corporate tax compliance.
Liaised with auditors to finalize financial statements and facilitate business restructuring efforts.
Conducted market analyses to identify potential challenges and opportunities for growth.
Developed a comprehensive financial reporting framework that improved visibility into key performance indicators.
Enhanced team performance through targeted training and development initiatives, resulting in improved accountability.
• Associate | A N Sharm & Co (CA Firm) Dec’11 – Dec’12
Assignment Handled: TKT High-tech Cast Pvt. Ltd. (Internal Auditor)
• Articleship Assistant | Praful N. Shah & Co., Ahmedabad Mar’07 – Sep’10
Academic Details
Chartered Accountants from ICAI in 2013 B.Com. from Gujarat University in 2008
Trainings Attended
Personal Details
Date of Birth: 10th May, 1988
Languages: English, Hindi, Gujarati and Marathi
Reference: Mr Tirth Manwani : +971 55 518 7074 (Partner at Goodrich Trading LLC)
Ms Princia Dsouza (HR Manager) :- +971 56 406 0715 (Omnitec Group)
Mr Farid Mahrous : +971 50 645 2704 (CEO & Founder of Karaman Veterinary Group)