Pankaj Vats

Experience

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  Lufthansa

  Jun 1997 - Aug 2000

  Accounts Executive

  I effectively managed the accounts payable function, ensuring optimal utilization of funds. As a core team member, I played a key role in implementing the BaaN- FI Module and the Vishesh accounting software. I devised processes and mechanisms for management reporting, contributing to streamlined operations.I provided support in obtaining FIPB Approval for FDI and Aircrafts on leases. Additionally, I played a pivotal role in facilitating the recovery of a INR 45 Mn insurance claim related to an aircraft accident. Furthermore, I assisted the CFO in initiating operational activities in the Middle East and Asia. Show less

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  Hughes Communications India

  Aug 2000 - Aug 2006

  Asst. Manager – Finance & Accounts

  I was responsible for overseeing AP, Banking, MIS, and Reporting activities, as well as automating Inventory valuation, Vendor Payment Process, and payable activities at operational levels. I served as a core team member during the implementation of the SAP – FI & MM Module. Furthermore, I contributed to the creation of the company process manual, detailing operational activities and mapping accounting transactions, along with implementing control mechanisms.I played a crucial role in implementing the CMS System with Citibank, successfully clearing the legacy of bank reconciliations. Through strategic loan swapping, I effectively reduced financing and interest costs, resulting in significant savings. Additionally, I actively participated in the preparation and filing of TRAI license-wise accounts in compliance with regulatory requirements.To enhance efficiency, I developed a process for customer invoicing aimed at minimizing service revenue leakage. Furthermore, I established a credit control mechanism to monitor and manage customer outstanding, contributing to overall financial stability. Show less

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  Bp

  Sept 2007 - Aug 2009

  Manager – Finance & Accounts

  I adeptly oversaw finance, accounting, and reporting functions for both internal and joint venture entities, ensuring compliance and financial integrity through precise financial analysis. Played a pivotal role in seamlessly incorporating activities between D1 Oil, UK, and British Petroleum, UK for Indian operations under the Joint Venture Agreement, including necessary registrations and compliance procedures. Implemented a decentralized accounting system for the Indian location, establishing a framework for operations across the Asia-Pacific region, and contributed to the financial and operational structuring of company JVs in east and south regions. Show less

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  AMSURE INSURANCE AGENCY LTD

  Feb 2010 - Aug 2011

  Manager - Finance & Accounts

  I oversaw finance, budgets, accounting, and reporting functions, ensuring financial stability in collaboration with cross-functional leaders. Implemented a comprehensive restructuring of finance and operating processes, resulting in timely and accurate monthly reporting, efficient sales booking, vendor payments, and streamlined payroll and employee reimbursements. Automated the insurance premium collection process to comply with IRDA regulations, significantly improving the turnaround time for insurance policy issuance and enhancing operational efficiency. Successfully coordinated and facilitated an audit by IRDA authorities, ensuring company operations' compliance and regulatory adherence. Show less

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  Cryoviva Biotech Pvt Ltd.

  Feb 2012 - Jan 2020

  Head – Finance & Accounts

  I effectively oversaw finance analysis, budgeting, plans, and accounting functions, ensuring the timely and accurate delivery of collections. I implemented a monthly financial reporting system, upgraded ERP, and strengthened controls for precise financial reporting. Timely completion of audits, statutory filings, and tax compliance, including settling tax demands in accordance with applicable schemes, was a key focus.I introduced a customer collection process, utilizing various banking options and payment modes, with reporting and reconciliation mechanisms for tracking proceeds. A customer outstanding reconciliation process was implemented to realize receivables from a diverse customer base exceeding 125,000. Implementing Ind-AS for accounting, I ensured statutory financials and compliance within specified timelines.Leading financial planning for both company and group operations, I facilitated financial modeling and adjusted product pricing in response to market dynamics. Notably, I achieved substantial cost optimization, reducing overall fixed costs by over 15% and variable costs by more than 12% through realignment and contract renegotiation.Implementation of ERP - NAV and mobile applications streamlined real-time data capture, controlling revenue leakage, and enhancing data accuracy. Offering support for company operations in Singapore and Thailand, I managed team placement, structured processes, and developed reporting frameworks. Assistance provided to group teams encompassed financial, controlling, and reporting activities, particularly concerning Lineage Healthcare.A pivotal role was played in operating and establishing a company subsidiary overseas, with coordination of associated reporting activities. Additionally, I evaluated and provided support in overseeing the financial and accounting operations of Cocoon Hospital in Jaipur. Show less

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  GE

  Oct 2020 - Apr 2022

  Lead Finance Specialist Accounting Ops

  I took the helm of GEIIPL's corporate accounting function, ensuring precise attention to all functional obligations and compliance within strict timelines. I coordinated the prompt completion of statutory audits for both standalone and consolidated financials, working closely with auditors and approximately 14 divisions, including Aviation and Renewable Energy. Additionally, I crafted and guaranteed compliance with GEII Singapore statutory financials, audits, and filings, collaborating seamlessly with divisions and auditors in Singapore, Malaysia, and the USA. Further, I coordinated the cost audit for GEIIPL – Aviation division.In my capacity, I oversaw the coordination with business controllers, concentrating on risk and compliance matters, and crafted comprehensive reports for submission to the Board's quarterly review. Leading cross-functional teams across divisions, I ensured the punctual submission of documents for EDPMS/IDPMS, while adeptly managing additional projects and assignments. Show less

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  MoEVing

  Apr 2022 - now

  Vice President – Finance & Accounts

  I lead strategic financial initiatives, overseeing all aspects to align financial strategies with organizational goals. This involves spearheading financial planning & analysis, budgeting & forecasting, and developing resource allocation strategies. My focus on rigorous financial control and compliance includes implementing internal controls, policies, and process improvements. I collaborate seamlessly with external auditors, oversee statutory audits, coordinate due diligence, and maintain compliance with both statutory and tax regulations.A key aspect of my role is the management of City Level Profit and Loss statements, including detailed analyses and the preparation of unit economics for customer operations, emphasizing vehicle-wise profitability. I play a pivotal role in fostering positive relationships with stakeholders, banks, and lenders, ensuring the timely reporting of financial performance. Additionally, I contribute significantly to fund raising activities by coordinating due diligence efforts with stakeholders such as PwC, facilitating smooth fundraising processes.Beyond financial oversight, I am deeply involved in enhancing operational efficiency by establishing systems, processes, and cost-effective controls. This includes coordinating asset procurement activities, particularly electric vehicles (EVs) and chargers, and assisting in the development of Standard Operating Procedures (SOPs). Furthermore, I actively manage cash flow, optimize working capital, and oversee physical asset verifications, offering administrative oversight as needed. My role extends to cross-functional collaboration, providing support to various teams through the coordination of procurement activities and assistance in asset acquisition. Show less