Hitesh Jagdish Paliwal

Work History

Deputy General Manager

Tata Daewoo Commercial Vehicle Co. Ltd

Seoul

01.2019 - Current

Prepared annual budgets with controls to prevent overages.
Responsible for preparing monthly performance update including TB closing, P&L, Balance Sheet & Cash Flow
Prepared Intercompany reconciliations
Acting as a single point of contact for Finance, Tax, Treasury, Investor Relations, Legal & Company Secretarial activities from Group controlling
Enhancing financial processes through initiatives geared towards lowering risk, heightening productivity & improving internal control; extensive knowledge of modern accounting/cost control systems, standards & statutory compliances
Responsible for preparing & reviewing various profit reconciliations with other Financial & Management Reports like cost & benefit analysis, productivity analysis and cost variance analysis; creating and reviewing business plans and financial models
Controlling cash flow, approved payments, coordinating with bank representatives about credits, credit lines, overdrafts, and other finance related activities
Delivering optimal results in financial planning & management, accounts, budgeting and working capital management
Monitoring and preparation of quarterly board reports, minutes of the meeting and global country performance presentations, that summarizes & forecasts the organization’s financial position for maximizing profits & ROI
Actively engaged in company's IFRS and KGAAP accounts closing on monthly basis
Developed financial strategies by forecasting & monitoring financial performance by measuring & analyzing results; supervised the annual audit and coordinated audit schedules; while ensuring the minimization of the impact of variances, identified opportunities for improvement, cost reduction & systems enhancement.
Drove year-over-year business growth while leading strategic vision and long-range planning.
Established and enforced internal controls, workflows and policies for tracking, reconciling and reporting on accounting activities.
Improved overall financial reporting by streamlining control processes and reporting structures.
Checked payroll, vendor payments, commissions and other accounting disbursements for accuracy and compliance.
Performed routine closings, maintained clean, accurate and accessible records and kept close eye on transaction updates throughout each quarter.
Reviewed performance results to target and take corrective measures with authorization and escalation.
Engagement in other key activities like review of hedging & pension policy, other support activities for treasury team such as liasoning with Group treasury team / MNC banks for liquidity management. Management of ICFR related activities (updates on Internal Controls Over Financial Reporting as per new COSO2013).
Key Milestones achieved: -
o Handled multiple roles during manpower shortage in the company. Managing the additional role of leading a team of 3 local accountants.
o Consistently secured top 1 ranking for the company in GRIT scoring among multi geographical subsidiaries of the companies around the world.
o Managed to reduce 5% of overall fixed cost of company for FY2021-22 with rigorous controlling.
o Effective participation in achieving 2% EBIDTA growth over the yearly planned target for the company.
o Active engagement in company’s overall turnaround journey during the past two years.
o Automated various reporting for better management decisions & controls. Developed better AR management through PowerBI Dashboards.

Senior Manager, Finance

Tata Motors Limited

Mumbai

11.2015 - Current

Prepared & reviewed comprehensive financial reports by collecting, formatting and analyzing key data points.
Developed monthly variance reports to highlight significant variances in cash flow and capital expenditures and quarterly forecast reporting to maintain data integrity and accuracy.
Provided creative alternatives and recommendations to reduce costs and improve financial performance, reducing costs and improving financial performance.
Participated in monthly, quarterly and annual closing and audit processes, preparation of monthly P&L reporting packages and leading budget vs. actual reviews with department heads
Developed proposals and presentations for internal and external audiences. Identified past financial trends, performed risk management and predicted future outcomes and needs.
Monitored company sales, spending and budgets. Created business strategies to boost shareholder value.
Facilitated financial and operational audits, working with internal and external managers to communicate recommendations or issues surrounding audits.
Prepared new markets business case packs for financial & non-financial viability of CKD manufacturing operations, national sales companies & new distributors across the globe.
Monitored overseas subsidiary performance monthly basis & reported to senior management
Key Milestones achieved: -
o Selected as CFO of Tata Motors ’s Nigerian Subsidiary.
o Two times “Three Cheers Award” possessor in the company for amicable cost reduction in the manufacturing costs resulting in saving of Rs 9 Crs
[1 Mn USD] during FY17-18 and impeccable contribution in securing a deal of 562 units in Ivory Coast.
o Backed up by senior management for effective Hedging and saving Rs. 25 Crs [USD 3 Mn] of company for FY18-19.
o Managed to control OFC for CVBU, especially packaging cost and overachieved the target by reducing the cost by 15% against the target.
o Engaged in reducing repairs & maintenance cost/ rental cost of shipment centers by suggesting suitable key actions.
Reviewed product cost sheets & impact on product pricing.

Senior Executive MIS & Accounts

UPL Limited (United Phosphorus Limited)

Mumbai, India

01.2014 - 10.2015

Prepared monthly MIS presentation, Budgets, Product costing, Analyzed overheads, sales and margin variances, debtors and inventory ageing reports and other management reports.
Acted as single point contact of company's North American subsidiary for overall financial controllership. Actively engaged with US finance team ensuring accurate & timely reporting of financials on regular basis.
Spearheaded cross-functional initiatives across departments to achieve business goals for bottom-line profits.
Introduced software tools and process improvements to mitigate loss and drive operational growth. Partnered with IT and operational leadership to develop financial business plans with detailed benchmarks.
Ran comprehensive cost/benefit analysis before suggesting new business movements and decisions.
Maintained responsive organization with sustained revenue growth through industry forecast monitoring and deliberate financial planning.
Established and enforced internal controls, workflows and policies for tracking, reconciling and reporting on accounting activities.
Key Milestones achieved: -
o Highly appreciated by CFO for developing an automated report for Notes to accounts and RPT statements for 82 subsidiaries. This had saved huge time in RPT reconciliations.

Sr. Executive Finance

The Bombay Dyeing & Manufacturing Company Ltd

Mumbai

08.2010 - 01.2014

Monitored budget and revenue trends, compiling reports for company leadership to inform decision-making.
Prepared monthly reconciliation of bank accounts and took corrective actions on deviations.
Drove profit increases through market research and strategic asset management to meet dynamic industry conditions.
Analyzed financial statements against forecasts to prepare high-level variance analysis.
Partnered with IT and operational leadership to develop financial business plans with detailed benchmarks.
Partnered with internal stakeholders after preparing detailed product cost sheets for each new product launches which helped in best product pricing decisions
Engaged in successful completion of company's Cost Audit reports. Planned audits and other audit activities to allocate necessary resources and determine consistency of plans with audit objectives.
Key Milestones achieved: -
o Developed interactive Inventory valuation report which enabled CEO to take strategic decisions on many occasions.

Summary

Overview

Work History

Deputy General Manager

Senior Manager, Finance

Senior Executive MIS & Accounts

Sr. Executive Finance

Education

CMA - Accounting And Finance

B.Com - Accounting And Finance

Skills

Accomplishments

Certification

Software

Interests

Timeline

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