Financial Officer Operations

* * * * *

ASHOK NAYYAR, CPA

***** ******* **** **, **********, MD-20874

Phone: Cell 301-***-****: Home 301-***-****

Email: **********@*****.***

PROFILE

CPA with working experience as an executive financial officer with technology companies, service-based firms, Federal Contracting, Not for Profit, Public accounting entities. Practical experience with all aspects of financial operations including the following:

• Partner with CEO on Execution of financial strategies •M&A, Equity deals, strategy analysis

• Establishing and monitoring internal controls • Budget Development & Forecasting

• Day-to-day management of the finance dept. • Build and Train Accounting Team

• GAAP monthly financial reporting at firm and dept. level • Federal contract and systems

• Experience with Employee Stock Ownership Plans (ESOPs) • Liaison with Board & Audit Committee

• New Policy and Procedures, Improvements • Grants accounts, NICRA cost, single audit

• Insurance coverages, contract, corporate negotiations • Co-ordination of Legal Matters

• Maintain relationships with bank and lending partners • Product pricing and Risk analysis.

• Design and implement new Accounting Software • Develop multi- year operational plan.

• Lease accounting implementation, Project Accounting • Strategic input and KPI’s management.

• Cash Flow Management and Projections • Board Meeting presentation.

• Management of International Subsidiaries-Audit, Tax • Investment policies and Management

• Implementation of SAAS/ Revenue Recognition rules • Inter-company reconciliations & Cost

• Annual Audit and Tax return preparation • Liaison with Board & Audit Committee PROFESSIONAL EXPERIENCE

Futuris Company, Rockville, MD, USA 2024

Chief Financial Officer

Technology, Consulting firm of 7 Portfolio Companies Revenue: $58M

• Planning

o Assist in formulating the company’s future direction and supporting tactical initiatives. o Monitor and direct the implementation of strategic business plans. o Develop financial and tax strategies.

o Manage capital requests and budgeting processes. o Develop performance measures supporting the company’s strategic direction.

• Operations

o Prepare and conduct Monthly Business Reviews with the CEO for all subsidiary portfolio companies

o Participate in key decisions as a member of the executive team. o Manage the accounting, investor relations, legal, tax and treasury departments including resources based overseas.

o Oversee the financial operations of subsidiary companies and foreign operations. o Manage the financial accountabilities of any outsourced third party. o Oversee the company’s transaction processing systems. o Implementing financial and operational best practices o Oversee employee benefit plans, with emphasis on maximizing total spending and ROI. o Supervise and model acquisition due diligence and support acquisition negotiations.

• Financial Information

o Oversee the issuance of financial information.

o Review and approve OTC filings and work with Corporate Counsel in this regard. o Report on financial results to the CEO and to the Board of Directors. 2 P a g e

• Risk Management

o Understand and mitigate key elements of the company risk profile. o Monitor all open legal issues involving the company, and legal issues affecting the industry. o Construct and monitor reliable control systems.

o Maintain appropriate insurance coverage.

o Ensure that the company complies with all legal and regulatory requirements. o Ensure that record keeping meets the requirements of auditors and government agencies. o Maintain relations with external auditors and investigate their findings and recommendations

• Third Party

o Participate in conference calls with the investment community o Maintain banking relationships

o Represent the company with investment bankers and investors. Edge Direct, Baltimore, MD, USA 2022 to 2023, Controller Strategy and Consulting firm. Revenue: $200M

• Responsible for ensuring the organization's compliance with GAAP and Tax laws.

• Excellent analytical, problem-solving, and decision-making skills.

• Identifies, assesses, and manages financial risks for the organization.

• Developed strategies and Projections to support short-and long-term goals.

• Provides guidance to senior management on risk mitigation strategies.

• Strong leadership, management, and interpersonal skills.

• Ability to build and manage effective teams with policies and procedures.

• Collaborates with senior management, auditors, and other stakeholders.

• Responsible for ensuring the accuracy and completeness of the organization's financial reporting.

• Ensure month end, quarter-end and year-end financial close with analysis and actionable items.

• Implementation of new Revenue Recognition rules-ASC 606

• Oversee Inter-Company reconciliation of forty companies.

• Yearly Budget development by departments, monitoring, analyzing and present budget against actual.

• Implementation of Job Costing, profitability, Job costing template, new project bidding

• Managing A/R, A/P, Oversee cash flow management, Managed bank relationships.

• Introduced ASC 842 new lease accounting procedures. Military Benefit Association, Chantilly, VA, USA 2018 to 2024, Treasurer/CFO Life and Supplement insurances to Armed Force members. Revenue: $38M

• Experience working in CFO as business leader, in partnership with the President.

• Merger and Acquisition of entities including negotiation of Purchase agreement, future cash flow projections, due diligence, post-merger plan and tax effect.

• Strategic input and KPI’s management.

• Oversee Finance dept. with Month end Close process, Audit & Tax filing.

• Implementation of new Revenue Recognition rules-ASC 606

• Manage association investments for growth and compliance with investment policy.

• Budget development, analyze and present budget against actual.

• Consolidation of subsidiary financials.

• Oversee cash flow management, Managed bank relationships.

• Review and approval of federal and state tax returns.

• Board, Finance Committee and Executive financial presentation.

• Process improvement and introduction of new policies and procedures.

• Lease accounting ASC 842

3 P a g e

Cook Ross Inc, Silver Spring, MD, USA 2018 to 2020 Chief Financial Officer

Strategy and Consulting firm. Revenue: $26M

• Assisted in formulating the company's future direction and developing the performance measures that support strategic direction. Strategic input and KPI’s management.

• Product Pricing policy implementation, Risk Analysis, Covid-19 Business Continuity plan, PPP Loan etc.

• Managing all accounting operations including Billing, A/R, A/P, Cost Accounting, Contracting, Revenue Recognition and Month End Close. Conduct Monthly financial meetings with Operational heads.

• Provide timely and accurate analysis of budgets, financial reports, and financial trends to assist the CEO/President, the Board, and other senior executives in performing their responsibilities.

• Maximize the return on financial assets by establishing financial policies, controls, and reporting systems.

• Work with the CEO to develop long-term budget and monitor budget with comparison to actual outcomes.

• Oversee the completion of Federal and State tax reporting requirements.

• Prepare Product Pricing models, Sales Force management, monitor contracts and sales revenue, comparing expectations to actuals. Managed 25% increased revenue from previous year.

• Protect assets by establishing, monitoring, and enforcing internal controls.

• Provide direction and leadership to direct reports, guide, and coach team members on a day-to-day basis.

• Develop a reliable cash flow projection process and reporting mechanism with cash threshold.

• Advisor from the financial perspective on any contracts into which the corporation may enter.

• Introduced new chart of accounts to meet DCAA audit requirement and manage financial books. American Association of Blood Banks, (Not for Profit) Bethesda, MD, USA 2017 to 2018 Global leader in accreditation, and implementation of systems in transfusion medicine. Revenue: $45M Interim Chief Financial Officer (Contract Position)

• Develop annual operating and capital budgets. Prepare and present proposed budgets for review and approval by the AABB Finance Committee and AABB Board of Directors.

• Analyze and monitor the association’s operations against budget and provide timely recommendations.

• Oversee Finance dept. with Month End Close Process, Audit and Tax filings.

• Work on restricted and unrestricted grants including NICRA cost allocation rates with agencies.

• Provide the Finance Committee, BOD, and dept. heads with accurate and timely financial reports.

• Engage with the CEO to develop short and long-term financial plans and projections based on organization-wide goals and expansion plans and address the finance committee of the BOD.

• Oversee cash flow planning and ensure availability of funds as needed.

• Review and recommend changes to the association’s investment policies.

• Direct and maintain the development and adoption of the association’s accounting procedures and controls. Develop policies to ensure adequate audit trails are maintained.

• Integrate and simplify systems for inventory control and management.

• Serve as staff liaison to the Finance and Audit committees.

• Annual and Single Audit and Tax handling Form 990 and 1120S. Engage new audit firm.

• Serve as a member of AABB’s Senior Management Team and meet with the BOD as designated.

• Provide leadership insight into association operations and business models and plans.

• Oversee financial management of government and other third-party contracts and grants.

• Ensure legal and regulatory compliance regarding all financial functions. Market Bridge Corporation, Bethesda, MD, USA 2008 to 2017 (Offices in UK, Bulgaria, Canada,) International professional services firm-sales strategies, marketing programs, and data analytics. Revenue: $40M Chief Financial Officer (2011 – 2017)

Corporate Controller (2008 – 2011)

• Oversee all facets of the finance department including both accounting and financial analysis.

• Clear Backlog work of three years by performing Year-end closing, Consolidation, Audit

• Work with CEO and Sr. management to develop and implement strategic business plans.

• Supervise an operating budget of more than $30M and capital budget of $1M.

• Present annual and qtr. presentations for the Board, Audit Committee, and senior management teams. 4 P a g e

• Consolidation of international financial data from Bulgarian, Canadian, and UK operations that are subject to audit by external auditors and tax authorities, used in tax preparation, and included in transfer pricing studies.

• Assisted in the reduction of over $1M in corporate loans by conducting monthly financial variance analyses, discussed findings with department heads to identify areas of opportunity for improvement.

• Implemented a “Microsoft Dynamics/Solomon” solution that incorporated financial systems with time and expense reporting and customized the on-line management reporting of financial data.

• Prepare operational and capital budgets and compare actual data monthly.

• Supervise computations of cash flow management and projections, financial models, and forecasts.

• Obtained $5M of bank financing and provided compliance documentation for continued renewal of loans.

• Recruit, develop and evaluate accounting and finance personnel with the experience and skills necessary to perform the accounting and finance functions.

• Handled corporate insurances and their yearly renewals.

• Develop and implement Policies and Procedures of Finance Department

• Clear Backlog work of three years by performing Year-end closing, Consolidation, Audit, International Operation Audits, Sales tax returns, and participating in corporate tax planning.

• Experience with Employee Stock Ownership Plans (ESOPs)

• Familiar with Private lending options, factoring services etc. Integral Federal Inc (Consulting Engagement) 2012-2012

• Setup new federal chart of account in compliance with FAR regulations

• Integrate Quick Books data with third party tool for federal reporting.

• Timecard management for federal contract reporting and project costing.

• Manage DCCA audit approval for bidding of federal contracts.

• Deltek designing and implementation for federal contracts.

• Train the accounting team on Deltek accounting software. Phoenix Health Systems Inc, Gaithersburg, MD, USA 2003 to 2008 Privately held, professional services firm providing IT services to healthcare Industry. Revenue: $25M Corporate Controller

Supervised month-end closing process, Line of Credit management, Client relationship and managed entire finance function of the firm.

• Prepared GAAP-based financial statements and financial metrics to identify operational risks. JP Morgan Chase, Frederick, MD, USA 2002 to 2003

Worked in Credit card recovery division of the bank with annual revenue of $500M. Sr. Accounting Manager

Public Accounting - K Gupta & Associates, CA (CPA’s) EDUCATION

University of Delhi, India University of Rajasthan, India Bachelor’s in commerce - Accounting Master’s in accountancy and Business Statistics CERTIFICATIONS

CPA- Active License of VA & MD, CGMA-Certificate Global Management Accountant, USA Company Secretary (CS), ICSI, India, HR Block Tax Course-, S-Corp, LLC, and C-Corp, 990 tax returns. COMPUTER SKILLS

MS Dynamics/Solomon, Accpac, Great Plains, Deltek, D-365, Sage Intact, SAP, Navision Financials, Quick Books, Peachtree, and ADP payroll, MS Office

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