VINEET SURI
CHARTERED ACCOUNTANT
DUBAI
Summary of Career
1. Qualified Chartered Accountant offering over 16 years of extensive experience in: Costing & Budgeting, Financial Planning & Analysis.
2. Growth and mission-focussed; expert knowledge in overall Finance functions with Strategic Planning, Costing & Budgeting, Finance & Accounts, Analysis, Treasury, Commercial Operations, and Statutory Compliance across the tenures. Extensive experience in conceptualizing and implementing financial procedures and actively involved in the maintenance & finalization of accounts, working capital management, profit monitoring and building internal financial controls. Well versed with the use of US GAAP,
3. Adept at development of financial policies/guidelines for effective fund management. Strong qualifications in general management, business planning, analysis, systems implementation & staff development. Merges hands-on leadership with excellent communication skills to continually motivate focused teams toward goal attainment. Embraces new challenges and employs exceptional problem-solving skills while handling people from different backgrounds.
4. Credit Control, Receivable Management
5. Auditing, Internal Financial Control
6. Accounting Functions, MIS, Financial Analysis
7. Process Enhancement, Liaising/Coordination
8. Treasury, Accounting & Taxation
9. Statutory Compliance, Inventory Management &Team Management
10. Deft in developing MIS reports and liaising with government bodies for obtaining necessary sanctions.
Experience as CHIEF ACCOUNTANT
04 January 2004
15 December 2006
• Interfaced with Procurement and Sales Departments for maintaining inventory thereby contributed in downsizing the inventory by 7 million SR and generating effective savings.
• Steered the initiative of introducing standard costing in compressor factory.
• Aptly leading costing function by planning, organizing, handholding and leading the team.
• Deftly handled the gamut of tasks including:
o Monthly MIS reporting for EMEA in Paris & Internal MIS for Senior Management.
o Reviewing, analyzing and highlighting actual or anticipated variances from budget.
o Cementing relationship with Banks & Financial Institutions for negotiating term loan, L.C.’s & working capital arrangement.
o Facilitated as vital member of Management Team responsible for preparing yearly Business Plan, short term and long term plans for CSA.
Experience as FINANCIAL CONTROLLER
25 December 2006
07 October 2008
• Functioned as key member in setting up new Philips entity across Saudi Arabia.
• Key member of Management Team responsible for preparing yearly Business Plan for KSA.
• Reviewing, analyzing & highlighting actual or anticipated variances from budget and provide commentary on variances.
• Manage and lead all the activities of cost accounting function including leading the costing for key tenders.
• Key member of Management Team responsible for preparing yearly Business Plan for Hub ME and Africa and for a team involved in closing quarterly SOX controls.
• Essayed a stellar role in recovering the AR of PMS, collection of USD 10+ Million overdue in 5 months.
• Generating online costing reports for the management along with commentary.
• Ensured compliance with all statutory and regulatory requirements like Withholding Tax, PF and submission of tax returns along with external and internal audits.
Experience as FINANCE MANAGER
10 October 2008
25 August 2010
• Facilitated as Key Member for the following initiatives:
o Project Coordinator for implementation of Oracle.
o Management Team responsible setting of up of new facility worth USD 100 million in Jebel Ali South Zone.
o Management Team responsible for preparing yearly Business Plan, short term and long term plans for UAE.
• Reviewing, analyzing & highlighting actual or anticipated variances from budget and provide commentary on variances.
• Established balance sheet schedules and cleaned up old AP thus helped in getting write back of cost amount to AED 5 million.
• Supervised the costing of key clients like KBR for American Army, Daimler & Chrysler and Perini, etc.
Experience as FINANCIAL CONTROLLER
02 August 2010
20 October 2015
• Facilitated as Project Coordinator for implementation of ERP Dynamics AX in KSA for the organisation and significantly completed the project in 3 months through effective implementation strategies.
• Lead the transition from existing costing system to standard costing. Analysis of variances, provide commentary on variances and advice suitable action.
• Handled banking facilities which included working capital and capital funding.
• Revamped the procedures for Account Receivable which resulted in collecting USD 5 million in 2 months and appreciably reduced average collection days from 65 to 42 days.
• Reviewing, analyzing & highlighting actual or anticipated variances from budget and provide commentary on variances.
• Preparation of monthly business forecast for KSA and Lucy Electric India to HQ.
• Key member of Management Team responsible for preparing yearly business plan for KSA and Lucy Electric India.
• Steered the initiative of streamlining employee policy manual and new control procedures.
• Facilitated as key member of management team involved in putting in place new manufacturing strategy which resulted in reducing manufacturing cost by 10%.
Experience as SENIOR FINANCE MANAGER
Dulsco LLC
04 January 2016
30 January 2018
• Relationship management and negotiating terms with banks for short and long term financing.
• Handled the consolidation of monthly revenue MIS for management and preparation of month end pack. Reviewing, analysing & highlighting actual or anticipated variances from budget and provide commentary on variances.
• Key member of Management Team responsible for preparing quarterly forecast, yearly business plan, short term and long term plans.
• Lead the costing of key projects/ tenders along with commercial and operations team.
• Monthly payroll preparation and review.
• Streamlining employee policy manual and new control procedures.
• Monitoring the progress of collection process and finding solution to overdue receivables.
• KPI’s reports like manpower utilization, idle time, fleet utilization etc.
• Streamlining finance policies and procedures and putting in place new control procedures.
• Ensured compliance with statutory and regulatory requirements like VAT, Withholding Tax, along with external and internal audits.
• Recruitment, performance management and development of finance team.
Experience as FINANCIAL CONTROLLER
04 February 2018
23 December 2019
• Responsible for costing function of Saudi Aramco Yanbu Refinery, ADNOC Abu Dhabi Refinery projects which are the biggest projects in Middle East.
• Handled the consolidation of monthly revenue MIS for management and preparation of month end pack. Reviewing, analysing & highlighting actual or anticipated variances from budget and provide commentary on variances.
• Key member of Management Team responsible for preparing quarterly forecast, yearly business plan, short term and long term plans.
• Ensured compliance with statutory and regulatory requirements like VAT, Withholding Tax, along with external and internal audits.
• Monitoring the progress of collection process and finding solution to overdue receivables.
• Performance management and development of finance team.
Master 10 June 2003
CHARTERED ACCOUNTANTMaster 30 December 2003
MBABachelor 10 June 1998
B.COM (HONS)