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Sunil Dhanesha

Candidate ID: 1893078

Career Summary

Chartered Accountant with over 12 years experience in Accounts / Tax / Audit / Finance functional area and 9+ years of UAE experience

Skill Set

Finance and accounting

Professional Information

Total Experience : 12

Nationality : India

Qualification Level : CA / CS / CFA / All Professional Finance Degrees

Job Function : Accounts / Tax / CS / Audit / Finance

Work Location Preference : UAE

Detailed Profile

Sunil Dhanesha


De d i c a t e d Fi n a n c e Pr o f e s s i o n a l with o ver 1 2 y e a r s o f e x p eri e nc e ( i n cl u di n g 7 years in UAE) in all areas of finance and investment management. Hands- on leader with strong
business acumen and analytical mindset to identify and correct underachieving trends. Interested in identifying unique financial opportunities and risks for organization.
Instrumental in achieving significant cost reductions and revenue/profit improvements through re-engineering, team building and leadership expertise.
Strong background of leading and managing a finance team for various organizations in the UAE.

Improved top line of the organization and scaled them up to next level of growth through better pricing of products in close co-ordination of CEO/MD to help organization improve market share and customer value for their money.
Successfully implemented optimization of idle resources by resetting the costs thereby making product more competitive and organization more profitable and creating efficiency which makes business model sustainable through different business cycles. Improved compliances and controls to handle/mitigate various risk based on understanding of geography, regulatory framework & overall
business environment.
Implemented a cost benefit model for a company which resulted in annual savings of USD 350, 000 through loss of profit analysis.

Senior Accounts and Finance Manager Nov 2021 – Pr esen t
Sun Packaging Systems FZC (Subsidiary of TPAC)

• Heading the Finance Department, overseeing the financial operations of current organization.
• Managing and coordinating monthly reporting, budgeting, and reforecast processes.
• Analyze costs, pricing, variable contributions, sales results, and the company’s actual performance compared to the business plans.
• Resolved issues related to inventory (which remain unsolved for 4 years) which needed proper planning with planning, production and stores department.
• Developed Capex recovery Model ascertaining various capital expenditures incurred over a period of past 3 years, comparing the recoveries with

committed timeline.
• Also developed a costing model by studying various manufacturing processes and determining machine-day-cost eventually flowing it down to various SKU wise costing and pricing.
• Implemented receivable control system by placing checks at sales order level instead of delivery levels improving DSO by 10 in the very first month of implementation.
• Profitability Analysis, MIS reporting including preparation of monthly board packs for management review ensuring timely reconciliation of general ledgers.
• Prepared SOPs related to Cash, bank and indirect expenditures including banking and Fund Raising
• Handle VAT activities, providing guidance to factories and filing of returns etc.
• Analysis of sales performance and supply chain management, assess impact, gap, financial results, profitability implications, identifying business risks, profit implication and suggest mitigation plan.
• Ability to improve operations, impact business growth and maximize profits through installation of Internal Control Systems covering various aspects of the business.

Accounts and Finance Manager Jun 2019 – July 2021
Sky Touch General Trading LLC, Dubai, UAE

Managed, reviewed, and tracked annual budgets for each of the profit and cost centers in the business, employing forecasting and pricing policies to identify cost reduction opportunities.
Presentation of Quarterly financial reports to the CEO and other board members.
• Assisted with preparation of regulatory reports adhering to regulations and instructions of IFRS.
• Established credit control policies which improved r ec eivable days by 30- 45 days. Prepared semiannual audit schedules, collaborating with external auditing to verify compliance with all regulations.
Built up and supervised finance team of 10 members.
Oversaw daily financial functions, including accounting and financial reporting.
Introduced and managed IFRS technical accounting policies and best practices.
Managed payroll processing for 62 employees, ensuring team received timely payments.
Introduced internal controls to monitor critical areas of financial control and devised corrective actions to address risks or deficiencies.
Aligning business process with the new updated VAT regulations on timely basis.
Managed working capital facilities in lines with AR function, AP functiont o manage and forecast accurate cash flow reports on weekly basis.
Ensuring monthly reconciliation of various Bank transactions. Evaluating the need for financing and arranging required credit facilities in terms of TR/LC/LBD/STL from various bankers.
Proactively involved in conducting viability analysis as well as leading business expansion projects to improve margin and EBITDA levels. Formulating strategies on long term business plans & financial

reports at various stages with close co-ordination of owners/CEO.
Giving specific targets to sales and procurement teams and analyzing them with the actuals to define various incentive schemes.
Group Finance and Legal Manager Aug 2018 - Feb 2019
ATS Shipping LLC, Dubai, UAE

Played an integral role in planning and controlling company budget and minimizing overall cost, thus receiving appreciation and recognition from the management.
Effectively negotiated with the respective vendor party and minimize d project cost by 7% as against the budgeted target.
Instrumental in streamlining and adhering to accounting and internal control systems related to group in addition to guiding insurance claims desk and effectively negotiating insurance policy terms.
Implementation of SAP at Group Level - developing and enforcing financial procedures and SAP systems.
Accountable for managing, supervising, and mentoring accounting, finance and law teams towards attaining set goals and targets; ensuring that team members adhere to set processes and standards.
Raising funds at the group level and negotiating with different institutions to avail the best cost of funding. Managed disbursem ent of USD 6 Million facility which was on hold in the past 2 years.
Maximized year-end tax benefits by efficiently managing cash flows. Supervised timely filing of UAE VAT returns per month receiving zero audit failures or penalties.
Closely collaborating with the country team and advising on financial matters, such as profit leaks, margin enhancement and business development opportunities.
Managed payroll processing for 450 employees, ensuring team received timely payments.
A n a lyzin g and a p pr o ving all co mpa n y lega l a g re e me n t and procurement of assets.
Improvised credit control policy to achieve debtor day targets by involving sales team members, ensuring smooth collection of receivables.
Developed thorough forecasting and cash-flow management processes to maximize progression and profitability.
Trained new and existing staff members in various financial procedures to prepare each for job functions.
Prepared monthly and quarterly Annual financial reporting deliverables including financial statements and management discussion and analysis under IFRS.
Facilitated strategic decision-making, building detailed f inancial models i n Power BI.
Finance Manager Mar 2015 - Feb 2018
Synergy Pharma, Dubai, UAE

Performed budget forecasting and management tasks such as monitoring company performance against estimates, variance analysis.
Monitoring of Cash flows with weekly variance analysis, mitigation of financial risks alongside maintaining cordial relationships with the funding institutions.
Built up finance team required to adhere the business growth. Supervising finance department staff of 11 team members. Finalization of books of accounts, reviewing MIS reports and
getting them audited to ensure up to date GL reconciliations every

month considering IFRS requirements.
Decreased monthly expenditures by 5- 6% through effectively reviewing documents and identifying problem areas. Successfully set up an expense reduction team within the finance operation to cross-check the best cost benefit analysis.
Managed group level funding from the banks and also negotiated to
reduce the cost of funding by 5% in a span of 2 years.
Formatting strategies on long term business plans & financial reports at various stages.
Research and Development:
• Preparation of funder financial reports, monitoring income from funders, raising supplier invoices, approving high-value transactions, and providing guidance on funder terms and conditions.
• Worked with faculty on pre-award costings and research applications, providing guidance as required.
• Managed the post-award financial reporting and budget reviews.
• Planning and supervising the day-to-day activities of the section; streamlining processes wherever possible.
UAE VAT implementation.
H a n d l e d on - g o i n g p r o j e c t of b u i l d i n g p h a r m a c e u t i c a l manufacturing facility in Dubai which includes:
Developing Project Timeline.
Negotiation and commercial closure of key contracts. Review final contracts to mitigate financial, operational & execution risk.
Arranging Project Funding lines and working capital in line with budgeted capacity levels.
Delivered procurement manager’s activities with supply chain team.
Drafted an instructional how-to guide on the proper use of the purchasing and receiving modules of the ERP system. Prepared user training instructions for online purchase requisitions.
Prepared detailed reports for costs and market conditions.
Prepared and monitored annual/semiannual budget for purchasing department. Achieved cost-effective procurement outcomes by establishing strong relationships with vendors and partners and negotiating well.
Enhanced material and product value by increasing quality and lowering cost through key vendor acquisition, strategic global sourcing and acquisition of new manufacturing technologies.
Defined and lead implementation of Procurement strategy, ensured a compliant and flexible procurement process negotiating terms and conditions to purchase goods\materials and assets for new platform.
Streamlined department processes and procedures to determine optimum staffing levels. Instituted metrics to document cost savings, purchase requisition turnaround, and number of POs issued.
Co-ordinated with other functions to complete the annual purchasing plan and ensured that department budgets, systems and procedures are developed and maintained for project and departmental operations.

Credit Analyst Jun 2014 - Feb 2015
RAK Bank PJSC, Dubai, UAE

Preparation of Limit Applications which included financial analysis like SWOT analysis, Business Profitability Analysis, Cash Flow and liquidity Analysis, Feasibility Analysis, Ratio Analysis.
Calculating clients loan requirements and reviewing repayment capabilities.
Reviewing necessary legal documents of clients.
Dealing with credit team for their queries in regard limit application. Keeping track on utilization of facilities and unusual transaction in

customer's account.
Handling various routine queries of client and maintaining customer portfolio.
Finance Associate/ Assistant Manager/Article Trainee
Anil Thakrar and Co./ Deloitte Haskin & Sells, Mumbai, India
Sep 2007 - Apr 2014

Finalization of accounts and MIS.
Providing consultation services to various clients for business set up, feasibility analyses, MIS developments etc.
Handling Corporate Finance and Taxation activities.
Working on various Income tax litigation issues including assessments, appeals etc.
Handled Statutory & Tax audit, Limited Review of various companies. Handled statutory audit of public trust, export-oriented manufacturing company etc.
Maintained books of accounts of various entities and filed Income Tax Returns