Suman Kumar
Finance Professional
Hyderabad
Summary
SUMMARY
Skilled financial leader well-versed in accounting principles and regulations. Motivated to keep company financial operations compliant, accurate, and cost-effective. Ready to bring 14+ years of experience and take on challenging new role.
Proven leadership and successful in leading teams in achieving financial goals. Accomplished in working with executive leaders to develop business, financial and growth strategies.
Accomplished in reducing expenses, streamlining financial operations and improving Controllership & FP&A functions. Highly organized and systematic with in-depth understanding of Manufacturing, Financial Services & IT Industries
Motto in Life: “ Attitude is Everything” “Delay means Defeat”
Overview
15
15
years of professional experience
7
7
years of post-secondary education
Work History
Finance Controller
AIE Fiber Resource And Trading (India) Private Ltd
02.2023 - Current
- Supported operations management, sales, and marketing efforts to increase revenue and overall financial health.
- Implemented risk management strategies to protect company assets and minimize losses.
- Monitored budget and revenue trends, compiling reports for company leadership to inform decision-making.
- Strengthened internal controls through regular audits and adherence to regulatory requirements.
- Created financial dashboards to provide insights into key performance indicators.
- Improved financial reporting accuracy by streamlining and automating data processing tasks.
- Strengthen Sales Rebates process which minimized revenue leakage and improved bottom line by 8%
Financial Consultant ( Freelancer)
ValUMinds Consulting LLP
04.2021 - 01.2023
- Finance, Compliance and Advisory consulting for Startups & Organizations
- Established Finance systems & processes for companies.
- Accounting and Taxation consulting for Organizations
- Performed Auditing for banks & Organizations
- Performed Internal, Tax, Statutory Audits for companies
- Conducted Corporate training for Finance teams
- Fund Raising for startups.
Director Finance
Orion India Systems Pvt Ltd
08.2020 - 03.2021
- Managing end to end Finance function with a team of 10 members for
India & US Corporate office. - Implementation of Budgeting, Cash Forecasting, Rolling Forecast,
Revenue Forecasting - Financial Reporting under Indian GAAP, USGAAP
- Mentoring team members for improving Efficiency and Effectiveness
in all areas of Finance Operations - Identifying process gaps and establishing effective Internal
Controls for effective Risk Management. - Cashflow forecasting, Treasury Management, Forex Management, Project
Profitability Analysis. - Monthly & Quarterly MIS reporting for CFO at the global level.
- Involved in transition & integration of Finance processes from
acquisition entity ( M&A Integration). - Dealt with Commercial Finance Matters relating to Contract
Management. - Monthly Business Performance Analysis for driving improvement in
business results. - CAPEX & Revenue budget controlling.
Head of Finance & Accounts
NetConnect Pvt Ltd
06.2019 - 08.2020
- Driving Business Strategy for achieving the yearly Revenue & Profit
Targets. - Developed strategic plans for day-to-day financial operations.
- Evaluated investment opportunities for long-term growth potential, supporting business expansion efforts.
- Enhanced financial reporting accuracy through development of comprehensive internal controls.
- Implemented and regularly reviewed financial controls to generate accurate and reliable financial data.
- Evaluated and negotiated contracts to procure favorable financial terms.
- Analyzed business processes to identify cost savings and operational efficiencies.
- Managed day-to-day operations with 6 member finance team
- Executive Committee Member for Risk Management and Strategic
Initiatives. - Dealing with Commercial Finance Matters relating to Contract
Management. - Conducting monthly Business Performance Analysis for driving
improving business results. - Financial Reporting under Indian GAAP, USGAAP
Finance Manager
AVEVA Solutions India LLP
07.2015 - 04.2019
- Dealing with bankers from time to time for all Treasury related matters
- Negotiated favorable terms with vendors, resulting in significant cost savings for company
- Analyzing monthly SCAR Reports and preparing Revenue for each Business line
- Oversee SEZ Compliance, Direct & Indirect Tax Compliances
- ROC Compliances, Account Receivable management and Account Payables Management, RBI Compliances with team of 4 members
- Managing and improving company's entire financial accounting, monitoring and reporting systems
- Accountable for budget planning, formulation, analysis and evaluation of expenditure to determine the variance between projected & actual results and implementing corrective actions
- Develop Finance & Accounting policies and procedures and ensure align with corporate policies, local laws, rules, and regulations
- Prepare financial reporting packs under IFRS/ India GAAP
- Monthly Book closure and liaise with internal/external auditors (E&Y & Deloitte) for all audit matters for 2 entities
- Liable for Fixed Asset Management, General Ledger Management
- Payroll Processing, Business Process Improvements and Finance systems Implementations (Asset, Vendor, Expense Management)
- Responsible for preparing Monthly MIS reports and KPI reports for Corporate Office
- Structuring annual, periodical, and capital budgets and exercising strict budgetary control, financial forecasts (monthly, quarterly, annually)
- Appraising progressively soundness, adequacy and application of internal control systems and implementing sound internal controls on need basis
- Projecting cash flow and ensuring optimum utilization of availability of funds
- Analyzed business processes to identify cost savings and operational efficiencies
- Ensured compliance with local, state regulations; timely filing of all required documents, mitigating potential penalties or fines
Senior Finance Officer
Kernex MicroSystems (India) Ltd
10.2013 - 07.2015
- Improved cash flow, retired debt and built cash reserves to control costs and enhance benefits.
- Devised systems to monitor, evaluate and track operational achievements.
- Streamlined financial processes by implementing new accounting software and automation techniques.
- Responsible for Fixed Asset Management, Business Process Improvements and Implementations (assets, Vendors etc).
- Managed Banking relations for all working capital requirements, Forex Management, BG’s, LC’s
- Forecasting Revenue and Profits Monthly, Quarterly, Yearly at each
Project Level for Management Dashboard.
Lead Accountant
EI DuPont India Pvt Ltd
09.2011 - 09.2013
- Financial Reporting in US GAAP
- Inventory Management
- Cost & Revenue Optimization Projects
- General Ledger reviews and corrective actions
- Cost control and Product-wise profitability analysis
- Finance SOP's and Audit documentation
Analyst
Goldman Sachs Services (India) Pvt Ltd, Goldman
10.2010 - 08.2011
- Fixed Asset Accounting
- Cost benefit analysis for selling SPV assets
- Cashflow forecasts
- MIS reporting for Investors
- KPI dashboard reporting for SPV Assets
Sr.Executive-F&A
Harita Fehrer Ltd
10.2009 - 07.2010
- Accounts Payable & Account Receivables
- Budgetary Control for Capex & Revex
- Direct & Indirect Taxation
- Preparation of Business Planning
- SAP Implementation for (FI/CO/MM)
- Month end closure and Audits
Education
Company Secretary - Company Laws
11.2008 - 12.2010
Chartered Accountant - Accounting & Auditing
11.2004 - 11.2008
Certification -
12.2021 - 01.2022
Certification - Management Accounting
01.2017 - 01.2018
Dip IFRS Certification - IFRS
11.2014 - 01.2015
Skills
Debt management
Timeline
Finance Controller - AIE Fiber Resource And Trading (India) Private Ltd
02.2023 - Current
IMA FP&A Certification - Certification,
12.2021 - 01.2022
Financial Consultant ( Freelancer) - ValUMinds Consulting LLP
04.2021 - 01.2023
Director Finance - Orion India Systems Pvt Ltd
08.2020 - 03.2021
Head of Finance & Accounts - NetConnect Pvt Ltd
06.2019 - 08.2020
IMA - Certification, Management Accounting
01.2017 - 01.2018
Finance Manager - AVEVA Solutions India LLP
07.2015 - 04.2019
ACCA UK - Dip IFRS Certification, IFRS
11.2014 - 01.2015
Senior Finance Officer - Kernex MicroSystems (India) Ltd
10.2013 - 07.2015
Lead Accountant - EI DuPont India Pvt Ltd
09.2011 - 09.2013
Analyst - Goldman Sachs Services (India) Pvt Ltd, Goldman
10.2010 - 08.2011
Sr.Executive-F&A - Harita Fehrer Ltd
10.2009 - 07.2010
ICSI - Company Secretary, Company Laws
11.2008 - 12.2010
ICAI - Chartered Accountant, Accounting & Auditing
11.2004 - 11.2008
Accomplishments
- Implementation of Cost centre accounting for better project
visibility which resulted in perpetual cost savings in USD 1Million. - Reduced timelines for month-end closing & Reporting from 15
business days to 7 business days. - Implemented Effective Risk Management (ERM) framework at
Organization Level along with Business Leadership. - Performed Revenue Leakage Analysis, which positively impacted approx USD10Million to Topline.
- Negotiated rate of Interest on working capital limits by 1 5 0
basis points, which have a perpetual impact of ~USD 5Million to bottom line. - Slashed travel forex costs by 20% by negotiating pricing and fees,while ensuring the continuation and enhancements of services which added USD 0.5Million to the bottom line.
- Negotiated with bankers and reduced BRC regularization charges by 5 0 % by increasing the bottom line by USD 50K.
- Played an active role in obtaining a refund of INR 30 lacs from Income Tax Authorities.
- Hands-on Experience in Setting up Finance Systems, Processes
and Internal Controls, Finance Functions from scratch. - Added value to the efforts of the organization & drove organizational objectives through various initiatives such as implementing AccountsPayable, Fixed Assets, Travel Expense Management and facilitating Goods and Services Tax Implementation Successfully.
- Experienced in setting up and transitioning the Business
processes to India from USA, Australia. - Played key role in successful ERP implementation of SAP FICO & MM Modules and Navision 2016
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