SUMIT GHOSH DASTIDAR

(Chartered Accountant, PG Cert. Merger & Acquisition)

**** ******* *****, ***********, ** L5N 7A4

R 647-***-****; Cell 647-***-****; email- ac2dfx@r.postjobfree.com PROFESSIONAL SUMMARY

• Accomplished and result driven senior finance professional with progressive experience in large corporate & Big 10.

• Extensively worked with Board of Directors, Banks and Legal Consultants;

• Hands-on Manager with experience in accounting systems development, fiscal management, business planning and financial reporting;

• Strong in Budgets, Forecast, Cash Flow Management, Credit Control, Working Capital Management, Audit & Compliance;

• Proven record of developing and implementing financial control to improve P/L scenario

• Broad range of experience across manufacturing, FMCG, shipping, trading, travel, hospitality, retail, contracting and non- banking financial industries; Extensive experience in North America, the Far East, South East Asia, Middle East & Africa

• Developed and acted on key performance indicators building high performance financial organizations.

• Excellent knowledge of financial reporting and performance management processes

• Ability to analyze complex data and communicate effectively to a broad range of stakeholders

• Excellent professional written & verbal communication and interpersonal skills with the ability to interact and influence multiple levels of management; Ability in building relationship with banks, regulatory authorities, clients and vendors;

• High degree of conceptual/strategic thinking

• Proactive approach in managing multiple deliverables and dependencies across internal functions and geographic locations

• Ability to meet tight deadlines and work under pressure; Comfortable in a team environment as well as working independently

Fairly good working knowledge of the Real Estate Industry including financial analysis.

Reasonably good working knowledge of Accounting Standards for Private Enterprises (ASPE) KNOWLEDGE OF SARBANES-OXLEY LEGISLATION

SOFT SKILLS - Advanced Excel & MS Word, MS Access, Power Point, SAP (FICO), AMS ERP, Tally Ver. 9, SAGE 50 Quantum Accounting – Canadian version, Quick Books CORE COMPETENCIES

• Business Planning & Strategic Forecasting • Decision Support • Credit Control

• Complex Business & Tax Issues • Cash Flow Modeling & Management • Merger & Acquisition

• Budget Development & Management • Working Capital Management • Funding

• IFRS Accounting; Financial Reporting &

Analysis

• Audit, Internal Control &

Compliance

• Commercial Agreement

Negotiation

ACADEMIC QUALIFICATION / PROFESSIONAL ASSOCIATION

- Bachelor of Science – University of Calcutta, India

- Chartered Accountant – Institute of Chartered Accountants of India (ICAI)

- PG Certificate in Merger & Acquisition – Institute of Merger, Acquisition & Alliance, Switzerland

- Corporate Finance Certificate – Wharton, University of Pennsylvania, USA

- Associate Member – Institute of Chartered Accountants of India (ICAI) PROFESSIONAL EXPERIENCE & EMPLOYMENT HISTORY

ARZ GROUP LTD, TORONTO Nov 2016 - Present

The Company operates in the FMCG sector based out of Toronto with Wholesale, Retail and Manufacturing units spread across GTA. A subsidiary of Loblaw with revenue of CAD$ 20 million, FINANCIAL CONTROLLER

- Proactively manage the period-end closing process to generate accurate Income Statement, Balance Sheet & Cash Flow Statement for assessing the financial performance of the business

- Day to day involvement in managing the general accounting function specifically related to Fixed Assets, A/R, A/P, Accruals, Inventory & Payroll; Review and approve standard and non-standard journal entries in each period

- Review of periodic reconciliation binder providing support for the balance sheet accounts

- Preparation and presentation of periodic Reporting Pack for discussion with internal and holding company management

- Development of budget and analysis of variance for management reporting

- Reviewing actual performance at periodic intervals to roll out Forecast/LE; Monitor and report performance indicators against established plans to identify areas requiring improvement

- Provide financial information and analysis to support decision-making and recommendations

- Perform, review and support financial analysis of future business opportunities and potential business awards

- Preparation of quarterly schedules for holding company to support internal/external audit

- Generation of divisional profitability statement to internally review divisional performance

- Periodic review of Working Capital Analysis Statement with management for correctional measures

- Ensure timely remittance of commodity and other taxes (GST/HST, Payroll, EHT, WSIB etc.); Monthly online submission of GST/HST return

UMDASCH SHOPFITTING LLC, DUBAI Jan 2014 – Sept 2016 Leader in the Shop Designing Industry based out of Austria with 147 years history & global revenue of Euro 300 million. Preferred partner of major brands like De Beers, Ferrari, DUFRY, Christian Dior, Calvin Klein, GEOX, Fossil etc. HEAD - FINANCE, CONTROLLING & COMPLIANCE, MIDDLE EAST Responsible for finance & accounting, compliance and internal control functions of the Middle East operations; Compliance ambassador for Dubai Company

- Assisted the Managing Director in managing Middle East operations and growing business

- Acted as key partner to the senior leadership to drive improved results in a sustainable manner

- Participated and co-ordinated in the preparation & development of Five Year Business Plan

- Worked closely with management in controlling resources

- Worked with the Managing Director and operations to define, measure, analyze, improve and control processes that influenced internal operating efficiency

- Developed and maintained cost center reports for the divisions to identify trends & cost over-run for corrective measures

- Lead the annual budget process for the company, working collaboratively with a multifunctional team; Challenged key assumptions based on actual trends and knowledge of the business model

- Conducted sensitivity analysis to assess the impact of external factors on budgeted numbers

- Tracked actual performance against budget to report variances including root cause analysis; Reviewed variance report to generate quarterly forecast

- Effectively managed all accounting functions including A/P, A/R, pre-paid, revenue recognition, general ledger accounting and financial statement preparation and analysis; Ensured integrity of accounting through collection of accurate data concerning invoices, accruals, bad debts, vendor contracts, receivables etc.

- Reviewed balance sheet reconciliation to ensure that all reconciling items are properly captured

- Complied with corporate reporting requirements on monthly, quarterly and annual basis ensuring compliance with accounting policies and procedures

- Monitored project accounting; Reported project CVR

- Supported periodic audits and ensured compliance with company policy; Managed the annual external audit (Big 4) by completing the Corporate Audit kit with all required supporting reconciliation and documentation

- Developed and ensured compliance with internal controls; Reviewed internal control mechanism at intervals to take actions for material weaknesses; Complied with local laws; Group Code of Conduct and internal policies and procedures

- Maintained relationship with and acted as key point of contact for all financial related matters for both internal and external clients including auditors and consultants

- Educated and trained departmental managers on the financial impact of their decision and hold them accountable

- Monitored and interpreted cash flows to predict the future trend and potential risk

- Ensured rapid and consistent collection of receivables by implementing and refining control mechanism

- Reviewed large commercial contracts and advised management on significant commercial aspects

- Maintained appropriate insurance cover for all property risk, loss of profit, workmen compensation, comprehensive marine cover etc.; Monitored open legal issues affecting the company & the industry for risk mitigation

- Managed preparation of employee contracts, attendance, vacation entitlement, benefit entitlement and personal records Significantly reduced qualifications in Audited Financials & improved the Balance Sheet scenario 90-95% accuracy on financial forecast

Saved Euro 100K on Taxes

Accelerated cash flow to reduce DSO to 90 days from 135 days AL ROSTAMANI GROUP, DUBAI Aug 2009 – Dec 2013

Al Rostamani Building Materials Trading; Al Rostamani Industries; Al Rostamani Travels Al Rostamani Group is one of the 5 large local conglomerates with group revenue exceeding US$ 1 billion. The Group has interests in Real Estate, Trading, Recycling, Construction, Information Technology, Travel and Money Exchange. HEAD OF FINANCE

Directed finance, accounting and human resources function with US$ 300 million consolidated revenue; developed new revenue stream in collaboration with Business Manager that delivered increased revenue in two consecutive years;

- Partnered with C-Level Executives to develop long term business plan meeting growth objectives and profitability

- Worked with the Chief Executive Officer on the strategic vision including fostering and cultivating stakeholder relationships

- Supported financial decision making through strategic analysis; Served as trusted business partner for the Sales & Operations

- Developed and documented detailed process maps and workflows and created SOPs where appropriate

- Lead the development and presentation of yearly operating and capital budget for Executive Committee of the Board; Reported monthly budget variances with recommendations for improvement; Realigned budget to roll out quarterly forecast

- Actively participated in and supported the monthly/quarterly/annual closing process to report financial results; Reviewed & approved monthly transactions; Assisted in the monthly balance sheet reconciliations

- Conducted month-end business reviews with divisional heads

- Co-ordinated the year-end audit (Big 4) and preparation of audited financial statements

- Implemented and managed internal controls with respect to financial policies, processes and procedures

- Lead the physical inventory counts and inventory valuation; Reduced obsolescence risk on inventory with sound and appropriate strategies

- Implemented robust credit control policy to strengthen control over recovery of receivables to reduce delinquencies; Reviewed accounts receivable aging every week and proactively followed up on collection issues with subordinates

- Monitored and interpreted cash flows and predicted future trends and risks; Maintained adequate cash flows for seamless operations

- Funded working capital requirements; Arranged bank finance for expansion plans to support business growth

- Liaised with external parties such as lawyers, insurers, banks and auditors during due diligence procedures related to company transactions

- Compared, negotiated and provided recommendations for insurance coverage to senior management

- Monitored the performance of team members to ensure efficiency in operations and meeting of individual and group targets Improved inventory management for the trading business that reduced cash conversion cycle to 80 days from 105 days Reduced financial closing cycle from 15+ days to 7 days Re-financed assets worth US$ 5.5 million from local banks in UAE Arranged US$ 8 million working capital line for the two companies Reduced operating cost by US$ 12,000 per month out sourcing logistic activities ASIAN MARINE SHIPPING LLC, DUBAI Jul 2007 – Jul 2009 Privately held shipping company in Dubai with a fleet of 27 handy sized vessels; Yearly revenue US$ 500 million FINANCIAL CONTROLLER

Offered Financial Leadership and support functions for the operations of the company on behalf of the owners and the Board; Co-ordinated all financial matters with diverse external parties including consultants, legal advisors, large vendors and auditors; Provided leadership to a team of professionals in Financial Accounting & Analysis

- Supported principals in formulating strategic business plans

- Partnered with business to analyse core business processes and workflows identifying gaps, weaknesses and opportunities

- Provided guidance, as necessary, on areas requiring financial expertise; Supported the financial planning and analysis function

- Made recommendations for operational changes to drive improved financial management and profitability

- Developed and maintained financial policies and procedures;

- Developed reports on profitability and performance

- Reviewed monthly, quarterly and year-end financial statements for submission to the various stakeholders & the Board

- Maintained and updated accounting guidelines and policies

- Ensured monthly variance analysis of CAPEX and operational expenses to identify spent over budget/forecast and take corrective action wherever necessary

- Developed and maintained internal control programs to ensure timely reporting of business risks for appropriate action

- Prepared cash flow projections and reported cash flow

- Reviewed quarterly coverage for hull insurance, voyage, liability and cargo insurance to ensure adequacy of cover

- Maintained the Delegation of Authority table on workflow approvals for purchase requests and purchase orders Developed and implemented the first annual operating and capital budget of the company Reduced operating expenses by US$ 75,000 per month VLCC MIDDLE EAST LLC, DUBAI Jul 2005 – Jun 2007

VLCC Middle East is a part of VLCC, India delivering beauty & obesity treatment through more than 150 centers owned across India & Middle East. Group revenue - US$ 300 million COMMERCIAL FINANCE MANAGER

Complete responsibility of Middle East operations including finance & accounting, operations, obtaining regulatory approvals, administration and human resources; Recognized as a key player in the Start-Up team for Middle East Operations

- Managed the financial and management reporting processes including Corporate Accounting functions

- Assisted the business with in-depth analysis of new ventures that included break-even, pay-back period and IRR analysis and determination of projected ROI

- Worked with the Director-Overseas Operations and Group CFO to develop long-term business plan for Middle East operations

- Lead the development and presentation of annual operating & capital budget of the company; Generated performance report against budget and analysed the report to recommend improvements

- Co-ordinated accurate & timely preparation and presentation of monthly/quarterly/annual financial statement (Comprehensive Income Statement, Balance Sheet, Cash Flow & Shareholders’ Equity Statement) in compliance with the local laws, IFRS and company policies; Provided in-depth analysis of monthly/quarterly/annual financial results against key business metrics

- Established and monitored internal controls to ensure that accounting activities were in accordance with established regulations and company policies and procedures

- Co-ordinated the year-end audit and preparation of audited financial statements

- Ensured inventory controls are operating effectively – physical count, reserves and adjustments

- Liaised with Govt. Depts. and regulatory authorities to obtain necessary approvals

- Developed vendors at competitive rates; Reviewed large vendor contracts at yearly intervals to negotiate favourable terms Previous positions held – Finance Manager, Treasury Officer, Senior Auditor Significant achievements in previous roles

• Key member of a Senior Management team involved in a takeover deal with US$ 40 million LBO funding

• Key member of a Senior Management team for US$ 50 million Euro Bond issue

• Arranged US$ 10 million working capital line and a revolving facility of US$ 50 million for vessel acquisition

• Developed financially sound marketable deposit schemes based on cost of funds (IRR analysis) delivering value to the organization

• Helped save interest cost

• Mobilized US$ 22 million inter-corporate deposit to bridge temporary working capital gap

• Reduced inventory holding cost by US$ 250K with appropriate stock disposal strategies

• Increased monthly cash flow by US$ 1.3 million by consolidating credit analysis function, reducing outstanding receivables and minimizing risk from marginal customers

• In-charge auditor for simple to complex audit reviews

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