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Venkat Patnaik

Candidate ID: 430951

Career Summary

Finance professional with 23 years extensive functional experience in finance & accounts (15 years as Head of Finance Department).

Skill Set

Finance, accounts, treasury, budgeting,payroll,cash flow management,Long term Business plans

Professional Information

Total Experience : 23

Nationality : India

Qualification Level : MBA / Management Post Graduates

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

Work Location Preference : Kuwait, Bahrain, Oman, Qatar, UAE

Detailed Profile

Venkat Raman Patnaik
Position ~ Finance Manager
Mobile ~ +965-60741972 (Kuwait)
Mobile ~ +91-9650801221 (whatsapp number)
E-mail ~ patnaik.venkat@gmail.com

PROFILE SUMMARY
• Finance professional with 23 years extensive functional experience in finance & accounts (out of which 15 years as Head of Finance Department).
• Possess significant leadership experience resulting in better operational and financial performance and enhanced systems for higher performance of team.
• Monthly accounting of the revenue and expenses, P&L, Balance Sheet, OCF, KPIs || Budget Vs Actual Vs Forecast, Variance report, Analysis and corrective action plan for the best financial results.
• Preparation of Budget, Business / Strategic plans, forecast updates and long-term planning.
• A strategic planner with expertise in implementing cost saving measures, operational excellence, team building, and overall growth of the business in direction to company goals.
• Cost Leader with profit driven mind-set.
• New Business and commercial negotiations. Commercial due diligence of the contract.
• Partners with business units to drive consistent organizational excellence and provide optimal leadership.
• Enhances current practices and develops new solutions and strategies to strengthen the financial knowledge and operating performance.
• Ensures financial processes and systems are in place in compliance with global practice and drives accountability throughout the organization.
• Financial Planning and analysis, Budgets and Budgetary Controls, Internal Controls and Business Process analysis.
• Worked on online reporting tools (BPC ~ SAP)
• Risk assessment and governance. Profit and Loss owner. Driving to achieve the Budget or targets
• Wages and other statutory compliance governance.


ACADEMIC & PROFESSIONAL DETAILS

• BSC, CA(FINALIST), MBA(FINANCE)

IT / TECHNICAL EXPERTISE

• WORKING ON FULLY INTEGRATED SYSTEM (MS DYNAMICS & CAMPUS MANAGEMENT)
• WORKED ON RAMCO SYSTEMS, FIMS-ORACLE
• EXTENSIVE USER IN MS OFFICE (EXCEL, WORD,POWER POINT ETC.)
ORGANISATIONAL EXPERIENCE

Kuwait College of Science and Technology (February 2016 – till date)
(Major Shareholder Al Mulla Group)
Location: Kuwait
Position: Finance Manager

Key Result Areas :
• Providing day to day supervision to accounting functions such as Accounts, Treasury & MIS.
• Monitoring & analyzing of the timely & accurate preparation of monthly MIS reports for the Head Office by 10th of the next month
• Annual budgeting by holding departmental budget meetings. Critical analysis of departmental budgets, consolidation and presentation of the budget.
• Visualizing & presenting analytical reports for better controls and optimum utilization of organizational
resources and continuous efforts to upgrade the reporting method and techniques to meet the international
standards. Business analysis of departments / Company with identification of critical factors and giving
suggestions in the form of strategic plans for enhancing profitability.
• Continuous monitoring of aging and receivable days as a measure of credit control.
• Actively involved in implementation of MS Dynamics & Campus Management system.
• Regular updation of Tuition fee costing. Recently submitted student fee increase proposal to Private University Council (PUC).

G4S Qatar (Jan 2014 – Nov 2015)
Location: Doha
Position: Finance Controller

Key Result Areas :
• Providing day to day supervision to accounting functions such as Accounts, Treasury,Tax & MIS.
• Monitoring & analyzing of the timely & accurate preparation of monthly MIS reports for the Head Office by 07th of the next month
• Annual budgeting by holding divisional budget meetings. Critical analysis of divisional budgets, consolidation and presentation of the budget.
• Visualizing & presenting analytical reports for better controls and optimum utilization of organizational
resources and continuous efforts to upgrade the reporting method and techniques to meet the international
standards. Business analysis of departments / Company with identification of critical factors and giving
suggestions in the form of strategic plans for enhancing profitability.
• Continuous monitoring of aging and receivable days as a measure of credit control.
• Actively involved in implementation of new RAMCO ERP system
• Improvement in audit ratings from “Deficiency” to “Adequate” in year 2014
• Regular updation of costing model across all products/services.
• Extensive user of sales force to track new opportunities
• Active member in bidding process and involved in bidding of major tender Qatar foundation (GBP 185 million)

G4S Kuwait (August ‘2010 – Jan 2014)
(Local partner AlMulla Group)
Location: Kuwait
Position: Financial Controller

Key Result Areas :
• Providing day to day supervision to accounting functions such as Accounts, Treasury, Tax & MIS.
• Monitoring & analyzing of the timely & accurate preparation of monthly MIS reports for the Head Office by 07th of the next month
• Annual budgeting by holding divisional budget meetings. Critical analysis of divisional budgets, consolidation and presentation of the budget.
• Visualizing & presenting analytical reports for better controls and optimum utilization of organizational
resources and continuous efforts to upgrade the reporting method and techniques to meet the international
standards. Business analysis of departments / Company with identification of critical factors and giving suggestions in the form of strategic plans for enhancing profitability.
• Continuous monitoring of aging and receivable days as a measure of credit control.
• Ensured to improve Gross margin of Manned Security division.
• Upgraded financial and payroll applications.
• Improvement in audit ratings from “Adequate” to “Good” in year 2012
• Smooth integration of financial activities of Group 4 and Almulla Security Services(AMSS) in year 2012
• Followed by integration, implemented new pay structure & payroll application of Group 4 to align with AMSS.
• During tax assessment of AMSS for financial years 2004-2007, Tax authority has raised additional tax demand of GBP 1.8 million. We appealed and were successful in reduction of tax demand by 50%.
• Received appreciation for exceptional performance for the year 2011-2012 by local partner AlMulla Group

G4S Egypt (July ‘2007 – August ‘2010)
Location: Cairo
Position: Financial Director

Key Result Areas :
• Providing day to day supervision to accounting functions such as Accounts, Treasury, Tax & MIS.
• Monitoring & analyzing of the timely & accurate preparation of monthly MIS reports for the Head Office by 07th of the next month
• Annual budgeting by holding divisional budget meetings. Critical analysis of divisional budgets, consolidation and presentation of the budget.
• Visualizing & presenting analytical reports for better controls and optimum utilization of organizational
resources and continuous efforts to upgrade the reporting method and techniques to meet the international
standards. Business analysis of departments / Company with identification of critical factors and giving suggestions in the form of strategic plans for enhancing profitability.
• Continuous monitoring of aging and receivable days as a measure of credit control.
• Contributed significantly to improve margin of Manned Security & Security System businesses.
• Improvement in audit ratings from “SERIOUS Deficiency” to Adequate in year 2009.
• Implemented new mini ERP system ( Focus enterprise edition)
G4S India (April‘ 1998 – July ‘2007)
Location: Head Office, Gurgaon
Position: Sr.Manager Finance

Key Result Areas :
TAXATION
Handled Direct Taxation matters to attain lowest possible tax within compliance of laws.

Responsibilities includes:
• Tax planning
• Ensured timely filing of corporate tax returns
• Transfer Pricing
• Deferred Tax accounting
• Handled Income Tax Scrutiny cases independently.
• Compiling / making/ drafting appeals and appearing before CIT appeals/ITAT in coordination with Tax consultants
• Fringe Benefit Tax
Handled Indirect Taxation matters especially in Service Tax.
Responsibilities includes:
• Obtained centralized Service Tax Registration Certificate
• Timely submission of monthly consolidated report of Service Tax Collected by all the branches across the country. Ensured timely deposit of service tax and filing of corresponding half yearly returns including credit returns.
• Extensive coordination with various State Excise Authorities for statutory compliance.
• Handled Service Tax Audit conducted by Excise Authorities every year.