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Brampton, Ontario, Canada
January 25, 2018

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Bipul Kulshreshtha

* ****** *********, **********, ********, ON L6P 1V9

H: (905) ***-**** M: (647) ***-****


A highly motivated finance professional with an outstanding track record for leadership, communication and teambuilding. Extensive domestic and international experience with accomplishments in accounting, auditing and corporate finance matters of multi-national companies. Proficient in managing diversified industries with multiple lines of businesses, divisions and departments. Held senior positions in financial management and controllership, with proven experience in different business facets covering operations, administration, supply chain, IT and finance & accounting. Proven ability to assume new challenges and responsibilities as demonstrated by rapid career progression and successes to date. Consistent track record of positively impacting business results through the application of strong analysis, strategic thinking and financial skills combined with keen commercial acumen.

Employment Experience

Hudson’s Bay Company North America, Toronto (a department store retailer with leading banners including Hudson’s Bay, Lord & Taylor, Saks Fifth Avenue, Gilt, Saks OFF 5TH and Home Outfitters. In Europe, HBC banners include Galeria Kaufhof, Germany, Galeria INNO, Belgium). ERP: Oracle and Hyperion

Senior Manager – Lord and Taylor October 2017– till date Reporting to the Divisional Vice President

Supervise and direct the financial operations, manage the accounting cycle and provide guidance on the complex corporate transactions.

Institute, implement and monitor internal control procedures and financial accountability.

Provide guidance and oversight to the HBC offshore team related to general accounting activities.

Partner with other Accounting and Finance leaders to design and operate an efficient and effective period- end close process with an overall focus on continuous improvement.

Support and prepare financial accounting analysis for Senior Executives.

Oversee the timely and accurate completion of the monthly financial statements / packages for the banner.

Review all regulatory reporting submissions and requirements completed by onshore / offshore teams.

Lead the banner external and internal audit process, including coordination with Internal / External auditors.

Support ongoing process design and review as a member of the General Accounting leadership team, and work with counterparts in other banners to develop common processes.

Develop and coach direct and indirect team members including identifying and implementing process efficiencies.

Responsible for coordinating the transition of accounting function from current US team and Accenture to Canada and HBC India.

Cushman and Wakefield Limited, Toronto (a multi-national company, fully integrated provider of corporate real estate / property services, including the sale and lease of commercial property, providing facilities management, valuation, property tax and project management services). ERP: Workday

Controller - Canada October 2015– August 2017

Reported to the Global Controller and CFO-Americas (Finance and Accounting outsourced to Accenture, India)

Responsible for managing the finance and accounting operations of Canada which includes oversight of the financial reporting, compliance, treasury, regulatory reporting, taxes and relevant IT processes.

Control, manage and stabilize the accounting function outsourced globally to the Accenture team, as part of the BPO i.e. business process outsourcing model. This includes establishment of the approved process documents, sign-off of the monthly, quarterly and annual financial statements, analytics, commentaries on variances etc.

Responsible for all the financial operations including credit and collections, banking, investment and daily cash flow forecasting.

Assisted the Operations team in driving profitability and support the future strategic direction of the region.

Compliance to the financial policies and implement them in accordance with the Americas region objectives.

Ensured that the profits and assets of the company are protected through the establishment of adequate financial controls including effective controls over cash, project/capital expenditure and investments.

Coordinated with internal, external, tax and trust auditors.

Mentored, developed and motivated 18 team members in India and 6 members in Canada to achieve high performance.


Stabilized the treasury functions including daily cash forecasting process and investment of Trust funds with optimum returns.

Created an excellent monthly, quarterly and annual reporting system in Workday and HFM (Hyperion Financial Management).

Conducted due diligence on acquired companies, created acquisition JE’s including Goodwill calculation, prepared statement of adjustments and successfully integrated the accounting, forecasting, planning and reporting processes into Workday financial system.

Ensured completion of 230 balance sheet reconciliations and transitioned these over to Accenture’s Financial service Centre in India.

Canadian Apartment Properties REIT, Toronto (largest owner and manager of multi-family rental communities in Canada and Ireland. It has a portfolio of well-managed and attractive apartments, townhouses, land-lease communities and commercial properties)

Controller July 2009 – August 2015

Reported to the VP-Accounting

Primary responsibilities included overseeing the Accounting and Reporting for the Residential and Commercial portfolio, company’s joint venture operations and project accounting, from review of monthly closing, financial statements and reporting, accounts payable, utility accounting, budget preparation and analysis, realty tax & rebates. Coordinated with the Lease Administration and Property Management teams on leasing activity i.e. new tenants, renewals, amendments, CAM, HVAC, Tax recoveries and follow-up on pending lease documentation. Review and sign-off of pre-billing and final billing. Managed a team of 4 Accounting Managers, an Accounts Payable Manager and a team of 12 staff members. Participated in strategic financial matters including ERP and other projects, capital expenditure, automation etc. Led project management initiatives to implement decisions from the Executive team with objectives of cost saving, improved efficiency and automation. The building upgrade projects, such as garage restoration, balcony fixes etc. required arrangement of financial resources, cost control, efficient management, tracking milestones for timely completion.


Led the successful implementation of the following four projects, which not only improved efficiency but also reduced costs. The annual cost savings achieved are $500,000.

oBell OBM (Online Billing Module) project – allows download of monthly Bell billing and online payment processing. Interfaced to the General Ledger. Saved time in processing of paper invoices.

oConversion of Centralized Accounting model to Regional Accounting model – the Regional Accounting Managers were delegated to the respective regions in 2010 for instant support to the Operations team and efficient coordination of the financial activities.

oConcur Travel and Expense - a web based tool, which allows online submission, approval and reimbursement of employee expense claims. Interfaced to the General Ledger.

oSAP – Migrated the Financial Accounting and Accounts Payable modules from AS400 in September 2011. Wrote 115 SAP Business Process Procedures and prepared presentation documents for development, training and final implementation.

Actively participated in SAP implementation for other modules like HRIS, Business Intelligence etc. yet to be implemented. The system migration was expected to complete in 2017.

Morguard Corporation, Mississauga (an integrated real estate company with office, retail, industrial and residential portfolio in Canada and USA)

Controller-Corporate Services September 2007–July 2009

Reported to the Corporate Controller and the CFO

Responsible for overseeing the internal finance operations, treasury, reporting, forecasting, budgeting, financial controls and special projects. With 4 direct reports, supported the CFO and Corporate Controller on all financial aspects of the Corporation, including preparation of the financial statements and other required financial reporting documents, drafted notes and the MD&A, analysis and statutory filings, drafted the Chairman’s report for approval from the Board of Directors, uploaded financials into SEDAR. Led the preparation and review of annual consolidated forecast, budget and strategic planning process that focused on revenue growth and margin improvement. Supported the CFO and the Corporate Controller in matters pertaining to securities regulations compliance, insurance, managing capital assets, financial controls and processes, analysis and accounting software implementation / changes. ERP systems: JD Edwards and Yardi.


Successfully merged the accounting, forecasting, planning and reporting structures of the acquired companies/properties into the existing system. This greatly enhanced management’s insight to overall business operations.

Led the successful implementation of the internal control system, including the processes and procedures. Created process documentation relating to the disclosure control, mortgages payable, quarterly close process etc.

Streamlined the financial analysis function ensuring that the periodical reporting to the Board of Directors and investors was more consistent, relevant and timely.

Philips Medical Systems Canada, Markham (a division of Philips Electronics Limited, Holland)

Controller-Accounting & Reporting September 2005 – August 2007 Reported to the Director-Finance

Directly responsible for all accounting and financial functions, including financial management, internal and external reporting, accounts payable, payroll, taxation, system implementation/conversion/migration, supplier management, contract management, analysis and reporting on operational performance and cash management. Managed forecasting and budgeting process, and ensured effective internal control systems and SOX compliance for accurate financial reporting. Performance management and development of a team, consisting of 9 staff members in Canada and 6 members in India.


Provided leadership on the SOX compliance project in Canada. Philips was SOX compliant in 2006. As a Project prime on SOX gap closure – identified process and control gaps, tested and documented control solutions to fix the gaps.

Led the finance organization in successfully migrating the Accounts Payable, Inter-company and GELCO Expenselink (expense reporting) modules to the Shared Service Center in India. This project completed in July 2006 resulted in creation of 75 process documents and the elimination of 5 positions with an annual saving of $150k.

Managed the month-end closing process, including consolidation and regulatory reporting. Prepared monthly financial statements and management reports for discussion in the GMC (General Management Committee) meeting. Financials prepared in accordance to the Canadian and US GAAP. Also reported the financials to Corporate Control in Holland based on IFRS requirements.

Instrumental in creating a revenue assurance team to conduct root cause analysis of contracts, highlight revenue recognition issues, commitments and contingent liabilities, non-standard terms and conditions, business risks and opportunities. Reviewed opportunities and risks with the Business Managers, General Counsel and Directors to meet revenue objectives. Provided financial advice to facilitate $20 million upfront revenue recognition.

Supported the Business management team with margin/revenue growth through optimum price realization, discount on list price etc. Used Siebel system for the gross margin analysis by business lines.

Finance lead for the development and implementation of 1SAP project, which was an initiative to harmonize ERP systems of acquired companies. This project was a part of the overall global BiF (Best in Finance) initiative of Philips.

Various cost saving initiatives (annual savings > $100k).

Direct Energy Marketing Limited, Toronto (a subsidiary of Centrica plc, UK) May 2001- August 2005

Manager, Corporate Accounting & Reporting-Business Services division

Reported to the Director-Finance July 2003 – August 2005

Manager, Corporate Accounting-US Operations, Reported to the VP-Finance May 2001 – July 2003

As a core member of the start-up team in 2001, led the financial integration of 8 acquisitions into the company with seamless transition. Responsible for the review, analysis and reporting of the financial statements, audit of the financial statements, receivables, payables, payroll, tax matters, cash control and regulatory reporting. Implemented a budgeting and forecasting process, developed incentive programs, commission processes and procedures and several transfer pricing mechanisms, which aligned goals and objectives in an environment of competing divisional interests. Coached, developed and managed the performance of a team of 4 (Analyst, GL, AP and AR) staff members. Finance lead on system conversion from Platinum, Jonas, Solutions to SAP.


Achieved 20% cost saving in B2B division through initiating a series of budget cuts and striving to create a business culture that values productivity, efficiency and financial discipline.

Increased revenue by $2 million, through the streamlining of volume discount strategies, promotion campaigns, commisssion structure for the sales team, revenue assurance controls and review of revenue recognition policies. Impacted the business as a whole by stemlining lead time-from quotation stage to final delivery and subsequent collection of accounts receivable.

Saved time and increased workflow through process review and automation with the assistance of IT team.

Saved US $1 million upon finding a customer-billing mistake (by Washington Gas Light, a utility company, to whom the billing process was outsourced). The billing rate was supposed to change in one of the programs. IT department’s error in not correcting the monthly upload file caused this mistake.

Merrill Lynch Canada Inc., Toronto

Manager, Consolidations and Reporting January 1998 – April 2001

Reported to the Director-Finance

Responsible for preparation, consolidation, reporting and automation of the monthly and annual financial statements for the Canadian group companies, getting these audited. Also prepared notes to the financial statements and management reports for the Board of Directors. Ensured all internal and external regulatory reporting is prepared and submitted within the deadline. Actively participated in system conversion from Lawson, ISM and FMR to Oracle ERP.


Received from the CFO, a Spot Light Award in the year 2000 for an excellent contribution in preparing the financial statements and getting these audited from the statutory auditor.

Automated the Balance Sheets of 23 subsidiary companies and reduced the normal preparation time of the reporting package from 2.5 weeks to 1 week.

Ernst & Young, Toronto (Audit, Advisory, and Tax Services)

Audit Senior (a contractual assignment) October 1997 – December 1997

Reported to the Audit Manager

Previous Experience

Gulf Electric Co., Nuchem Weir (UK) Ltd., PepsiCo Beverages International, Ernst & Young


Fellow Chartered Accountant (F.C.A.)

Master of Commerce (M. Comm.)

Bachelor of Science (BSc.) Degree

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