Ourania Darmakis

Background: The Financial Analyst, Property in the Enterprise Portfolio Management Office (“EPMO”) is responsible for analysis and reporting on the University’s project portfolio ($300m+ annual budget). Role involves delivering high quality project management advice and financial expertise to support the delivery of projects across the University.

Key Results:

• Cashflow management, analysis and track financial projections construction portfolio ($300m+ annual budget).
• Apply and interpret governance principles and University Accounting practices towards financial management and implementation of delivery projects.
• SME for implementation of EPMS Upgrade (Sensei) and University's new ERP (Workday).
• One of multiple leads in implementation of the University Investment Process (stage gating release of program funding).
• As governance and financial SME, support and empower Project Managers in developing their own financial expertise. This has seen a significant improvement in the quality of monthly forecasting.
• Continuously seek to improve reporting suit across Property portfolio, and lift the overall quality, accuracy and transparency of these reports, making them a key decision making tool.
• Maintain data integrity and accuracy of project records in EPMS.
• Review, question and sense check business cases and funding submissions, including long term implication to the Capital envelope and University's P&L.
• Liaise with the Fixed Asset team regarding the capitalisation of construction projects.

Background: As SME, role incorporated supporting sub-portfolios in all areas of financial performance, budgeting, and forecasting. Exposure to a diverse range of businesses during this time including, CFO Group, Project Services, Property, Legal & Risk and Finance Services.

Key Results:

• Developed monthly reporting suite to include financial and non-financial metrics and reduce output time from 2-3 days to 1.5 days.
• Simplified reporting to provide managers greater transparency and understanding of their financial performance, some who have never had any exposure to budgets before.
• Provided advice to help mitigate potential issues or potential reinvestment opportunities.
• Established cross divisional network to help influence or negotiate better outcomes for key stakeholders.
• Established processes and reporting to help prepare timely and quality, budgets, and forecasts.

Background: IT Strategy & Panning team provided key services to ITS including IT planning, financial analysis, service costing, portfolio management, benchmarking and risk management.

Role incorporated providing financial advice and transparency to operational managers, many of whom previously had no visibility of their budgets.

Key Results:

• Introduced monthly review and forecast process with each operational manager. This greater transparency and understanding of financial drivers helped control expenditure throughout ITS, and highlight opportunities for better contract negotiations.
• Introduction of monthly forecasting helped senior management make timely decisions, mitigate potential risks and reinvest expected savings towards key initiatives.
• Led coordination and preparation of annual budget ($57m income and expenditure) and subsequent reviews, ensuring it aligned with ITS’ strategic / corporate plan.
• As part of Project Management Review Committee, independently assessed financial feasibility of all submissions at each stage gate, ensuring optimal benefits were delivered and any impact on operational resources and budgets were addressed.
• Provided input towards service cost model and service pricing.

Background: At the time, Private Health Insurance (“PHI”) Division contributed 90% of Medibank’s revenue and incorporates all distribution channels (frontline and digital), back office processing (claims and membership), overseas students & visitors, Marketing, Strategy & Planning and Provider Relations (hospital and medical providers).

Role incorporated:

• Overseeing $392m management expenses budget across the division and reporting through to COO and Executive Team.
• Establishing and implementing, Medibank’s first Business Continuity Plan. Direct Reports: 2 (Business Continuity Manager and Business Continuity Support).
• Establishing and managing first Compliance Team within PHI Division. Direct Reports: 2 Compliance Officers.

Key Results:

Snr Management Accountant

• Briefed PHI CEO and Executive Team on Division's monthly financial performance, advising of reinvestment opportunities, potential issues and recommendations for savings targets ($8m achieved per annum),
• Coordinated annual strategic plan process for PHI Division and championed its interests to secure the necessary operating, IT and capital funding for its three-year plan.
• Led the coordination and preparation of the annual budget, half yearly reviews and monthly 18 month rolling forecast, ensuring each process is aligned back to PHI’s strategic objectives.
• Reviewed all business case submissions and ensured outlined benefits were achievable and sound.

Business Continuity Manager

• Developed and implemented Medibank’s inaugural Business Continuity function. This involved developing and leading 3 year strategic plan and implementing policies, procedures and practices across the company.
• Significantly strengthened Medibank’s recovery capability within first year. Recovery time at alternate site was reduced from 1-2 days to 4 hours.
• Managed key stakeholders and gained buy-in from Managing Director, General Executive, IT Disaster Recovery, operational managers and all staff.

PHI Compliance, Internal Audit Coordination & Risk Management

• Established and implemented 3 year strategic plan for PHI Division’s compliance function. This included implementing business partner model, assigning a compliance officer to support each portfolio.
• Collaborated with Group Assurance team to manage rollout of Medibank’s new approach to compliance throughout the PHI Division. New direction moved from “policeman” to advisory model with greater emphasis on business managers taking accountability and responsibility.
• Raised awareness of compliance within PHI Division, in particular, management’s collective responsibilities and obligations, potential issues and outstanding commitments. Overall aim was to establish effective controls without over regulating the business.
• Addressed issue of management consistently not meeting due dates for internal audit recommendations. Tightening of monitoring and reporting process saw 97% of timeframes being met.