Manager Sales

AJAY KAMALAKAR PARANJAPE

Objective - Seeking a senior management position in the field of accounts & finance in a growth oriented organization where I can add value to organizational performance through my knowledge, skills & abilities

PROFESSIONAL SYNOPSIS

A dynamic and competent performer having over 20 years of experience in the field of accounts, finance & Internal Audit

A track record of identifying financial, operational and compliance related control weaknesses and formulating recommendations to improve the company's control environment.

Hands on manager with expertise in accounting systems development, fiscal management & financial reporting.

An effective communicator with excellent relationship management skills and strong analytical, problem solving & organizational abilities.

Exposure to SAP ERP, Navision ERP & Tally ERP

Well versed with MS-Word, MS-Excel, & working knowledge of MS-Power Point Key Skills

Accounting & Financial Management

Financial Analysis & Reporting

Cost Benefit Analysis

Budget development & management

Cash Flow Management

Operational, financial & compliance audits

Risk Management

Personality Traits

Ability to work autonomously as well as team

Excellent analytical & methodological approach

Excellent in written & verbal communication

Carry high professional ethics

ORGANISATIONAL EXPERIENCE

Career Highlights

Feb.18 to Sept.19 Pentagon Plastic Ind. Ltd – Lagos, Nigeria As Group Financial Controller Nov.16 – Sept.17 Sava Healthcare Limited As Sr. Manager Internal Audit Jan 16 – Jun 16 Kaybee Exim.Pte Ltd.- Singapore As Consultant March12 – Dec.15 Kaybee Exim.Pte Ltd.- Singapore As Sr. Manager Internal Audit Sept.09 – Oct.11 B.L.Chainrai & Co. Nig. Ltd. – Lagos, Nigeria As Financial Controller July 06 – July 09 Seafood Group – Lagos, Nigeria As GM - Internal Audit July 04 – June 06 Seafood Group – Lagos, Nigeria As AGM-Internal Audit Oct.’01 – June 04 Seafood Group – Lagos, Nigeria As Manager Accounts & Audit Jan.’00 – Sept.’01 Desai Brothers Ltd. – Pune, India As Head Internal Audit May 99 – Dec.’99 - Finolex Essex Industries Ltd.- Pune As Manager – Accounts & Finance Feb.’96 – April 99 Finolex Proprietary Ltd.- Pune, India As Asst. Manager – Internal Audit May 94 – Jan.’96 G.D.Apte & Co. (CA Firm) – Pune, India As Sr. Audit Assistant Key Job Responsibilities Handled Across the Tenures A) Accounts & Finance

Managing all finance and accounting operations

- Manage all accounting operations including Billing, A/R, A/P, GL, Inventory Accounting and Revenue Recognition, etc.

- Support month-end and year-end close process

- Analyzing Financial Data

- Organizing bank facilities (Import Finance/Term Loan/Overdraft) at optimum cost & Forex Management

- Treasury Management

- Product Costing

Coordinate and direct the preparation of the budget and financial forecasts and report variances

Preparation & timely submission of various MIS reports as well as financial statements in compliance with IFRS

Coordinate the preparation of regulatory reporting

Manage and comply with local, state, and federal government reporting requirements and tax filings

Develop and document business processes and accounting policies to maintain and strengthen internal controls

Interacting with Insurance Agent for insurance coverage for Fire & Special Perils, Consequential Loss, Burglary & Housebreaking, Cash In Transit, Fidelity Guarantee, Workmen Compensation, Householders Compensation, Goods In Transit, Vehicle, Group Life, etc

Design, establish, and maintain an organizational structure and staffing to effectively accomplish the department's goals and objectives

Serve on planning and policy-making committee.

B) Internal Audit

Setting up of Internal Audit Dept.

Recruitment & training of audit dept. staff

Review & objective assessment of company’s business processes to identify the process deficiencies and recommend necessary modifications for improving operational efficiencies

Assess the company's risks and the efficacy of its risk management efforts

Determining internal audit scope and developing annual plans, Execution of audit plans, Identify loopholes and recommend risk aversion measures and cost savings, Document process and prepare audit findings memorandum, Conduct follow up audits to monitor management’s interventions

Evaluate internal control and make recommendations on how to improve

Assisting management in preparation of standard operating procedures related to various functional & operational areas

Ensures compliance with established internal control procedures by examining records, reports, operating practices, and documentation.

Ensure that the organization is complying with relevant laws and statutes.

Act as an objective source of independent advice to ensure validity, legality and goal achievement Notable Achievements

Accounts & Finance

Negotiated import finance facilities with the banks at optimum cost thereby reducing the finance cost

Implemented better operational controls which lead to reduction in claim lodgments with insurance companies leading to successful negotiations in reduction of insurance premium rates.

Achieved reduction in interest cost by optimum fund management

Initiated budgetary controls & implemented monitoring mechanism leading to reduction in overall costs.

Implemented uniform chart of account across group companies which helped management in meaningful analysis & comparison of financial data & also for better cost management.

Streamlined various accounting & operational systems & procedures facilitating timely generation of various MIS reports which helped management in taking timely decisions/actions where required

Restructured the accounts dept. by bringing in clarity regarding various job responsibilities & properly allocating the same among accounts staff which lead to increase in operational efficiency. Internal Audit

Prepared Decision Responsibility chart at Kaybee Exim Limited to mitigate risks involved at various operation stages like pre order stage, order stage, Pre-shipment stage, Post Shipment stage which brought in clarity regarding at which stage the responsibility of decision making to be shifted to higher authority to reduce the risk of financial losses

Highlighted the non-coordination & proper follow up process between Sales dept. & R&D dept. at Sava Healthcare which lead to development of drug by R&D dept. through clinical trials though subsequently not marketed by Sales dept. causing financial losses

Highlighted the lacunas in material procurement planning process at Sava Healthcare which was impacting the ability of procurement dept. to obtain competitive rates linked to volume of the purchase order quantity from the vendors

Risk Appraisal

Country Risk – as a member of management advisory committee highlighted the risk of operating only in one country which was contributing more than 85% of total revenue & suggested expansion in other countries across West Africa

Product risk – as a member of management advisory committee highlighted the risk of depending on one product (Frozen Fish) which was contributing more than 90% of total revenue & suggested expansion in other lines like poultry, aqua culture, value added products Vendor Risk – highlighted risk of depending on single vendor for supply of critical raw material SOP’s – highlighted the risk of dependability on few key people instead on systems & advised as well as assisted management in preparation of standard operating procedures related to various functional & operational areas

Suggested rotation of duties & locations for various operational & functional people to unearth frauds

Highlighted excess charges charged by banks from time to time & assisted Accounts Dept. in getting bank refunds amounting to more than Naira-20 ml

Sales Pricing – highlighted the losses on account of delay in reacting to market conditions at branch locations vis-à-vis head office & suggested brining basic uniformity in pricing across locations

Highlighted the need of periodic analysis of customer performance to review customer price group & effecting change in price group wherever required

Highlighted the need of periodic analysis of customer credit exposure vis-à-vis credit limits to review customer credit limits & effecting change in credit limits wherever required

Unearthed manipulation of sales prices shown on invoices vis-à-vis the rate at which it is actually sold at branches & suggested to introduce system of checking actual prices using dummy customers

Losses during discharge – suggested various measures like use of net, cash gifts instead of FOC’s, double strapping of slates inside the cartons to reduce losses during vessel discharge. This also had positive impact on insurance premium rates due to reduction in shortages

Highlighted the need of proper planning & advance intimation of Hatch wise storage plan to Operation dept. to ensure speedy discharge & reduction in demurrage cost

Suggested system of vacating cold rooms in rotation to ensure controls on stock shortages

Highlighted the major losses incurred due to dependency on hired cold rooms due to various problems like temperature issues, switching of machines in the nights, etc & suggested to construct own cold rooms which will prove to be more cost efficient in the long run

Highlighted non-compliance related to routine operational controls like proper stacking heights, space management problems, etc

Highlighted the issue of deterioration of frozen fish quality due to Cold Room Temperature problems

& suggested to change faulty gauges which were giving incorrect temperatures

Highlighted the importance of proper analysis of Electricity + Diesel consumption cost for various cold rooms in view of huge cost involved as well as possibility of major saving potential through proper analysis & controls

Highlighted the additional profitability potential of US$ 100,000 p.a. by way of reprocessing the scarp generated during manufacturing of PVC pipes instead of disposing the same as scrap sale

Unearthed various fraudulent activities including misappropriation of cash by cashier, manipulation of sales prices, submission of fake bills, misappropriation of wages of casual workers using dummy names on pay roll, etc.

ACADEMIC QUALIFICATIONS

Certified Information System Auditor (CISA) from ISACA in Dec. 2008

Chartered Accountant (CA) from the Institute of Chartered Accountants of India, New Delhi – in May 1994 with 54.50%.

Masters Degree in Commerce from Poona University - India – in May 1991 with 55%

Bachelor of Commerce from Poona University – India – in May 1989 with 68%

Attended the IFRS Course conducted by Consult IFRS at Pune, India in 2012 PERSONAL DETAILS

Date of Birth : 15 February 1969

Current Address : 32/2 B Ashirwad, Sharamasafalya Society, Erandwane, Pune-411004

Passport No. : Z 3294043 Valid till July 2025

Marital Status : Married

Phone No. : 91-940*******

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

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