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Finance Director, CFO, Chief Financial Officer, Financial Controller

Harrow, Gt Lon, United Kingdom
October 18, 2016

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Nimish Shah - CV Page * of *

Private & Confidential

An LSE graduate and PwC trained Chartered Accountant with first time passes, I have business facing commercial and technical skills and experience in commercial organisations, both multinationals and SMEs. I have proven strategic financial management and leadership skills across the business.

Business partnering at senior leadership level

Strategic planning and budgeting

Financial modelling and economic analysis

Restructuring – stabilisation, operational turnaround, refinancing, acquisition, divestment

Multi-sites business environment

Strong technical accounting skills, including revenue recognition and SOX compliance

Introduction and implementation of robust financial controls, processes and reporting

Successful contract negotiations with key suppliers and customers

Experienced in managing IT, HR, Legal and Administration functions

Excellent working relationships with colleagues from US, Europe, ME, Asia ACA (first time pass)

BSc (Econ) Computing (2:1) - The London School of Economics and Political Science Image Sensing Systems (US listed - t/o $20m; UK $10m) February 2013 – Current TagMaster/CitySync (UK t/o £3.2m)

Above ground detection and information management solutions for the Intelligent Transportation Systems

(ITS) sector, including ANPR/LPR and RFID technologies. TagMaster (Sweden listed) acquired ISS UK in July 2015 and renamed it CitySync. Finance Director – Europe & Asia

UK, Europe, Asia accounting, tax, reporting, treasury

Managing Finance and HR team across Europe and Asia

Main point of contact for Finance and Administration in Europe and Asia, directly reporting to the US CEO/CFO and Controller


Promoted to Administrative Director for UK and Poland, in addition to the FD responsibility

ANPR Business Unit Backup leader added to my responsibilities – further participation in operations and commercial aspects

UK Group re-structure – merger of trading entities, new holding company structure

Europe Group Re-organisation - Germany, Spain, Romania - setup entities, bank accounts, payroll processes, accounting and tax compliance

Successful closing down of Poland office and subsequent transfer of operations to UK with no adverse consequences

Managed European senior management departures without legal consequences Nimish Shah BSc (Econ) ACA


Career Summary

Professional Profile

Qualification and Education

Nimish Shah - CV Page 2 of 4

Private & Confidential

Successful recruitment of finance and HR personnel

Successful management of office relocation – reducing costs over £100k

Efficient inventory management - enhanced involvement in supply chain matters

Updated design and format of all accounting system generated forms/template used in customer and vendor processing to give a consistent and professional image. First company to implement is ISS UK, with subsequent rolling out to ISS HK, ISS US and ISS Canada.

Initiated monthly UK staff meeting to share information and team bonding

Substantial improvements to processes - closure and transfer of Polish operations, UK (enhanced filing and documentation of HR records and distribution agreements, accounting processes and controls)

Key player in the divestment of ISS’s UK business to TagMaster Group

Managed redundancies in 2015, following acquisition by TagMaster RAA & NVS GROUP March 2011 – January 2013

Wholesale & Distribution (health / wellbeing products, children’s books, and convenience sector food and drink), and Pharmacy.

Finance Director

Financial and management accounting and reporting, banking, inventory management

Review of internal controls and financial reporting procedures

Responsible for IT, HR, Legal and Property


Restructured distribution business – refocusing on business strategy - revenue management and improvement, handling redundancies, cost reductions, cashflow optimisation, supplier and customer management

Streamlined operations to maximise performance and profitability

Bolstered profitability by eliminating under-performing products and leveraging proactive market penetration tactics. Reduced inventory/leakage and instigated a data-based approach to operational leadership

Fortified profitability and cash flow by instituting a comprehensive budgetary control and reporting system. Negotiated banking and overdraft facilities.

Enhanced debt collection procedures – resulting in reduced debtor days by 10

Negotiated better supplier payment terms

Turned around operational efficiency, by creating and establishing internal departmental controls

Improved HR and payroll processes

IT systems – enhancement of security and backup facility, ensuring appropriate access rights for personnel, reduction in maintenance fees

INTERIM ASSIGNMENTS January 2009 – February


Multi-sites Care Homes and Hotel operator (t/o £20m); Sales and Marketing company; Multi-sites Cash and Carry group (t/o £400m).

Finance Director and Head of Finance

External and internal financial reporting

Reviewed management reporting, KPI data and internal controls

Critical analyses of management information

Reviewed the corporate structures for the business

Renegotiated banking facilities

Evaluation of costing and profitability with recommendations for future pricing strategy

Responsibilities included cash flow management, budgeting, compliance, tax, audit, banking, payroll

Evaluation of outsourcing of accounting functions

Consultancy and accounting advice to a newly formed sales and marketing company Nimish Shah - CV Page 3 of 4

Private & Confidential

DAMAC PROPERTIES May 2007 – December 2008

(Reason for leaving – redundancy)

The largest private Master Property Developer in the Middle East. UK t/o £100m. Multi-site business. Financial Controller (Head of Finance in UK)

Reporting to the CFO in Dubai and UK General Manager

Presentation and analysis of monthly financial results to the Chairman, CEO, UK management

Discuss and provide advice and guidance to Board on UK multi-site business strategy

Extensive international liaison with overseas offices

Deal with Dubai property regulations and SPA (sale and purchase agreements) Achievements

Overseen rapid growth plans of opening 9 UK offices from 4, taking employee numbers from 60 to 150, in one year

Managed growth of finance team from 2 to 6 over a period of one year

Reduced annual overhead costs by £250k

Implementation of regular management reporting, including budgets and cash forecasts

Successfully set up new Dublin office - investigated and met legal and tax requirements

Improved and enhanced internal accounting controls and processes

Significantly improved UK payroll processes in conjunction with Dubai head office

Implemented UK employee pension scheme

Introduced the UK Travel and Entertainment Policy

Successfully introduced new auditors after a tendering process AVID TECHNOLOGY/PINNACLE SYSTEMS (US) January 2006 – April 2007 Avid Technology (US listed) acquired Pinnacle Systems (US listed) in 2005. Digital audio and video software and hardware tools. Worldwide t/o $900m. Finance Manager

As well as carrying on the responsibilities of Pinnacle Systems (below), my finance role was extended to encompass a much enlarged European HQ of Avid Group based in UK. Achievements

Extensive excel modelling of budgets - capital, revenue, costs

Sensitivity analysis of revenue, margins and costs by product and expense categories

Introduced BACS/CHAPS as the preferred payment methods

Successfully recruited and doubled the accounts team

Expeditious transfer and integration of Pinnacle UK into Avid UK following the acquisition PINNACLE SYSTEMS (US listed) March 1999 – December 2005 Digital audio and video software and hardware solutions. UK t/o $25m; Worldwide t/o $300m. Finance Manager (Head of Finance in UK)

Reporting to European CFO, Northern Europe Regional Manager (Consumer Division), VP Broadcast Division, EMEA / EAME

Fully responsible for all UK finance operations, including all financial accounting and reporting, budgeting, compliance, tax, audit, banking, SOX, payroll

Responsible for UK administrative operations - HR, legal, facilities

Reporting, analyses and review of business performance results to shape business decisions

Negotiate European & US software/hardware distribution agreements Achievements

Implemented robust accounting processes and controls

Significantly improved quality, timeliness and value of internal reporting

Key understanding of revenue recognition rules and processes at business-to-business and retail level Nimish Shah - CV Page 4 of 4

Private & Confidential

Pan-European participation, encompassing sales, logistics, marketing

Managed the redundancy programme during the 2004 business restructuring

Supported growth of the Consumer division from revenues of $10m to over $17m in 3 years

Substantial reduction in debtor days, from an average of 45 days to 35 days

Key role in providing SAP data to the non-financial divisions

Instigated and managed the installation of SAP infrastructure

Involvement in discussions during acquisition of Pinnacle by Avid (e.g. transfers of assets, staffing, facilities, premises, migrations of customers/vendors etc) CAREER BREAK March 1998 – February 1999

J P MORGAN CHASE BANK February 1994 – February 1998 A leading US multinational bank

Financial Officer

PRICE WATERHOUSE January 1988 – January 1994


Audit and Corporate Recovery/Insolvency

Microsoft Dynamics Navision,, Sage 500 (US version), Oracle Financials, Oracle Discoverer, SAP, Cognos, Cedar Open Accounts, proprietary wholesale and cash & carry software, QuickBooks, Microsoft Office (Outlook, Excel, Word, PowerPoint), Coda, proprietary banking and audit software Additional Information – Systems Experience

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