Alexey Maltsev

Experience

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  KPMG US

  Dec 2003 - Aug 2007

  Senior Auditor, Oil & Gas audit

  Learned to execute and lead multiple audit projects simultaneously (managed project teams of 4-15 direct subordinates):• Learned to perform within tight deadlines;• Built and managed successful teams of up to 12 people;• Prepared deliveries to be distributed to top-management. Deliveries included both Financial statements and audit opinions;• Always aimed for non-standard, critical evaluation of audit strategy;• Performed IFRS, US GAAP, Russian AP audits, including tax audits. Свернуть

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  Golden Telecom

  Jan 2007 - Jul 2008

  Head of direction of US GAAP oversight of regional companies

  Took an opportunity to implement best practices from KPMG to real business (managed 15 subordinates):• Managed improvement and standardization of reporting process over GT regional subsidiaries. Intercompany transaction verification process was cut from 10 to 7 days as a result;• Provided in-depth analysis of financial position of acquisition targets. Worked within M&A team;• Conducted trainings for regional subsidiaries senior management. Trainings were aimed at tem-building and methodological support;• Provided post-acquisition support to integrate financial systems of the assets;• Communicated with internal and external auditors, successfully justified company’s opinion;• Managed multi-departmental team. Team’s goal was brainstorming of profitability increase and cost decrease options for regional companies. Свернуть

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  TNK-BP

  Jul 2008 - Nov 2008

  Senior Auditor - Corporate audit department

  Learned best practices while performing audit and review of financial processes. Performed an audit Manager role from day one (managed project teams of 5-8 direct subordinates):• Conducted long term planning of audit projects including “selling” this plan to top management;• Managed several audit projects simultaneously;• Built successful teams, including mix of full-time employees and Big4 loan staff consultants;• Provided support to business in standardization of control procedures and control environment within subsidiaries and processes levels. Свернуть

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  «Газпром нефть»

  Jan 2009 - Nov 2009

  Senior auditor of the “Refining and Marketing” audit department

  Actively implemented internal control systems best practices to make GPN more transparent, manageable and ethical company. Provided support in implementation of organizational changes – reorganization of internal control system based on new approach to risks, processes and controls. Participated in improvement of the following critical processes (managed project teams of 2-5 direct subordinates):• Procurement, including Tenders and supplier selection;• Inventory management;• Capital construction;• Management accounting;• Budgeting;• Shared Service centers’ performance management.All findings and results were communicated directly to top management, followed by a plan of corrective actions. Plans were successfully implemented and monitored. Свернуть

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  Wintershall Dea

  Apr 2010 - Aug 2010

  Financial controller

  Gained invaluable German detailed approach to subsidiaries management (managed 8 direct subordinates):• Managed creation and approval of complex planning and budgeting models of Oil & Gas subsidiaries;• Officially participated in shareholder meetings in subsidiaries, representing Wintershall interests;• Provided input in Tender commission activities, procurement and supplier selection;• Identified, challenged and evaluated project risks of subsidiaries on operational and long-term planning level, and prepared accurate forecasts of projects success and performance based on inherent project risks, and risk strategy selected;• Prepared evaluation on governed companies’ performance to be delivered to senior management of Wintershall and BASF. Свернуть

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  Ruspetro plc

  Aug 2010 - Jan 2011

  Deputy CFO

  Applied all my experience to build detailed, transparent financial processes and complex business model from scratch in fast growing private Oil Company (managed 8 direct subordinates):• Constructed company’s financial model from scratch. Presented the model to potential investors;• Built financial processes from scratch to an IPO-level. Processes included:o Planning and budgeting, management reportingo CAPEX and procurement authorization and controlo Liquidity management• Continuously researched options to reduce CAPEX and OPEX costs jointly with production department. As a result average production well cost was reduced by 37%;• Organized Company’s Tender commission. Managed conflicts between participants;• Delivered reports directly to top-management, owners, investors and banks. Delivery included written and oral presentation;• Designed and implemented fast close system to reduce the time needed to get information. Time to prepare monthly report to shareholders was reduced from 46 to 7 days;• Conducted meetings with banks, auditors, potential investors of the company;• Designed and managed enterprise KPI system;;• Oversaw ERP system implementation for RAP, IFRS and MA;• Participated in tax planning (VAT recovery, tax shields etc.) – strictly within Russian law. Свернуть

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  EY

  Oct 2011 - Jan 2013

  Senior consultant - Performance Improvement Finance

  Utilized my experience to provide financial processes optimization services to large Oil & Gas and transport monopoly companies (managed project teams of 3-5 direct subordinates):* Strategic and midterm planning linkage to operational financial plans;* Annual planning and budgeting, forecasting;* Convergence of the production planning, tariff and budget planning cycles for the monopolies;* Management and IFRS/RAP reporting, fast close;* Procurement, tendering and supplier selection;* Integrated cost/operational performance measures (plan vs actual, KPIs, cost variances, process efficiency, capacity measurement, benchmarking, bottleneck analysis etc.);* Lean finance development and integration;* Headcount optimization though workload capacity audit;* Re-engineering of the financial processes and controls;* Costing, cost allocation and cost accounting;* Development of budgeting and financial models for different organizational levels. Свернуть

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  Sakhatrans, http://sakhatrans.com/

  Jan 2013 - Jan 2014

  CFO

  Undertook a project to put financial function of the company back on track (4 direct & 5 indirect subordinates):* Upgraded financial function of the asset to meet owner requirements;* Created & automated from scratch payment process & introduced streamlined liquidity management;* Organized prior periods accounting recovery for tax optimization purposes;* Created flexible long-term budget model, scaling down to operational level (with weekly forecasting), with more than 40+ changes in 5 month period;* Communicated with Government on current & projected financials & taxes;* Prepared company for managerial accounts fast close;* Participated in cost optimizations - project financing, capex, opex;* Introduced integrated system of internal controls;* Developed various financial methodology documents. Свернуть

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  Bryanston Resources

  Feb 2014 - May 2016

  External CFO

  Successfully served as external CFO/consulting team lead to mining & metals clients in implementation of financial turnaround projects (project teams of 1-25 people):* Managed implementation and testing of Budgeting Digital twin for integrated mining & metals company aimed at modelling detailed company's operations on strategic horizon (1 to 10 years), aligning Planning & budgeting with strategy, CAPEX, global product market developments & operational bottlenecks;* Reporting & planning system creation from scratch in manufacturing & retail holding to control fraud;* Financial structure, procedures & potential targets due diligence for new private equity fund of 2$ bn. Preliminary acceptance was gained from fund holder, his personal sanctions stopped fund development;* Mining assets management and due diligence with detailed financial model & calculations to facilitate sell or invest decisions for license holders & producing assets - 56% sold, 22% were invested in;* Developed & implemented cascaded KPI tree for mining major - from EVA to MTBR/TCO to drive targets through all hierarchy levels and link with SAP financial statements; ;* Full cycle financial & investment strategy development for the holding & local assets, including transformation & turnaround aimed at sustained expansion growth;* Post-acquisition financial systems integration with mother company for mining assets to prevent fraud. Свернуть

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  ANT-Inform

  Jun 2016 - Nov 2019

  Business Architect

  I have led consulting teams to support the digitization and automation of business processes of client companies - resource monopolies:* Defined and aligned business requirements for budgeting & financial processes digital twins: baseline data, objects and subjects of control, control points, hierarchy of management, workflow with subsidiaries, data structure, process maps, areas of responsibility etc.;* Managed requirements and gained owners' agreement to streamline and optimize processes of CFO function;* Analyzed, improved, automated financial processes in 1C / SAP: budgeting, management accounting, purchases, treasury, capex, fast close, etc. 13+ processes have been implemented;* Developed and implemented methodological and regulatory documentation: process maps, process regulations, regulations on departments, financial structure, etc. All documents were implemented and accepted by users. Свернуть

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  INFOSECURITY

  Dec 2019 - Apr 2020

  Chief Financial Officer

  Turned around company’s financials with high revenue and losses to breakeven:1. Optimized sales/contracting processes with 20% more time to do sales by enlarging administrative support;2. Performed major cost reduction, with 14%/8% reduction in CAPEX/OPEX3. Managed to gain parent company trust and approval for unique cost reduction scheme, with aim to keep sales workforce protected;4. Obtained 1 of 2 government subsidy applied for, ~8% of annual turnover.5. Re-organized financial department processes, implemented new and efficient templates for management accounting;6. Controlled daily operations without cash gaps;7. Approved all contracts, including cross border/ FEA to CIS and world, with complex VAT and profit tax schemes. Свернуть

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  Perfobore

  Jul 2020 - now

  Chief Financial Officer

  I oversee the financial department of a business that is expanding by 50% annually. Among my responsibilities are the following: - I perform organizational work on budget planning, determine the budget's structure, assign responsibility for budget execution, establish a procedure for agreement, approval, and monitoring of budget execution, including a detailed payment calendar, payment limits; - I made a significant cost reduction in the annual budget, CAPEX/OPEX by 14%/21%;- Created a five-year financial model and defended it in front of Russian Federation investors and government organizations. As a result, one strategic investor joined and four minority investors renewed their investments; - ensured that three investment rounds of between three and five times annual revenue, intermediate investments in the form of convertible loans, minority shareholder rights, and the achievement of the pre/post money target state would all be accepted, including the protection of major investors' interests through the protection of the company's target valuation and other means; - Negotiated a loan from the Government of Moscow on special terms, with a volume of 20% of annual revenue. - Established a mechanism to circumvent payment and sanctions restrictions, with payments to and from Russia in any currency.- Reorganized financial processes to accommodate the company's rapid growth - payments with a one-day approval scheme, tender documents in three days, annual budgeting in 30 days; - Brought accounting in line with RAS/GAAP requirements, accelerating the closing of accounting records in 1C from 50 days to 8 days. Свернуть