Rakesh Yadav
Edmondson Park,NSW
Summary
Business-minded Finance Manager promoting more than 15 years of expertise overseeing transactions and reconciling monthly financial reports. A highly collaborative individual with a track record of effectively training and coaching staff members. Offering confidence, team contribution and decision-making skills. A forward-thinking team leader, skilled at operating departments efficiently to meet goals.
Overview
16
16
years of professional experience
Work History
Finance Manager
AltX Pty Ltd
04.2021 - Current
- Implementation of MYOB Acumatica ERP. (RFP, Vendor selection, Negotiations with Vendor, Project management )
- Implemented HR and Payroll platform - Employment Hero
- Implemented AP and Expense Solution- ProSpend (RFP, Vendor selection, Negotiations with Vendor, Project management)
- Implemented BI Tool - Velxio. Integrated Velxio with MYOB.
- Developed EC and PP testing Models for Warehouse Funding.
- Developed a New cash flow forecast Model.
- Implemented FBT review process and conducted employee education workshops to improve FBT reporting compliance
- Managing team of 5 (1 Accountant, 1 Assistant accountant and 3 Overseas staff)
- Control function for multiple entities. Leading team to deliver accurate and on-time financial results and reports.
- Tax compliance for the consolidated group ( GST, FBT, PAYG withholding and instalment )
- Managing Intercompany transactions and reconciliation process.
- EoM management report pack. Consolidations and various on-demand analyses and reports.
- Business partnering with Investor relations team. Influencing fundraising to maintain sufficient liquidity in businesses to maximise leading businesses' selling capacity.
- Business partnering with Warehouse relation team to guarantee effective use of warehouse funding
- Banking: Managing daily banking in regards to Funding deals, Sweeping funds, Drawing funds in trusts
- Liaison with Solicitors regarding Deals settling and discharging
- Managing monthly investor interest payment process. Maintaining Zero errors and timely processing.
- Approving discharging deal payout
- Review settled and discharge deals contract for accurate revenue recognition
- Developed Loan origination forecasting and annual budgeting model.
- Annual budgeting and quarterly review
- Developed a Model to analyse deal profitability
- Payroll: Managing monthly payroll for sixty employees
- Manage relationships with multiple sub-originators regarding deal profitability, income share, and Margin Split for new and discharging deals
- External Audit: Working closely with KPMG to achieve a smooth and timely audit process.
- Established robust financial controls and policies, significantly reducing the risk of fraud and ensuring compliance with financial regulations.
- Mentored junior finance staff, fostering professional development and strong team dynamics.
Treasury and Tax Accountant
Electrolux Home Products Pty. Ltd (Aus. and NZ)
07.2014 - 03.2021
- PCI compliance: Implemented process improvement to be PCI-compliant
- Successfully implemented process improvement and control in the GST recognition process to eliminate leakage of GST
- Recovered over 750K in unclaimed GST from cashback and giveaway promotions
- Implemented MV tracking for improved FBT compliance and Insurance cost management
- Streamlined monthly variance analysis and reporting for Treasury, Tax, Property, fleet, Travel, and entertainment
- Implemented a new mobile card-present payment platform for service and repair business
- Implemented various collection solutions including PayPal, B-Pay, Multi-currency EFT
- Integrated Treasury, Tax, AR, AP, Banking and Fleet management processes for 3 Businesses acquired
- Compliance: Managing Treasury and Tax related work and making sure we are always compliant with policy and guidelines set internally and by Authorities
- Participating in the annual internal Audit process and review of current procedures and control related to Treasury, Tax, Insurance, AP and AR
- Monthly Tax and Treasury Reporting Pack: Completing monthly Tax and Treasury reporting pack for Local and regional reporting lines
- Taxation: Responsible for GST, WHT, Payroll tax
- Income tax and FBT
- Employee expense spend analysis and driving compliance
- NZ income tax return and assisting with the Australian Tax return
- Working closely with KPMG for annual tax returns
- Working with KPMG for transfer pricing documents, R&D Incentive, NZ Custom Duty review
- Cash Management: Partnering with Sales, Demand flow, AR and AP to generate weekly Cash flow forecast
- Running Scenario analysis, Borrowing/lending Decision
- Leading team for daily bank reconciliations for all entities
- Foreign Exchange: Partnering with Demand flow and Factories to generate monthly (12 months rolling) FX exposure forecast for Australia and NZ
- Executing FX contracts
- Weekly foreign exchange gain/loss forecast: Generate weekly forecast for management showing P&L and BS impact of weekly FX movement
- Work closely with regional treasury teams in the USA, Singapore, and Sweden
- Working very closely with group shared Services Malaysia for day-to-day AR, AP, and other transaction accounting
- Month End: Monthly treasury dashboard with analysis of FX gain/loss, economic data and trends
- Hedge accounting
- FX gain/loss allocation (Product Level)
- Balance sheet and P&L for Treasury, TAX, Group AR and AP, Fleet and property
- Accrual and prepayment management
- Group reporting pack for Treasury and Tax
- Motor vehicle and Property cost allocation and accruals
- Balance sheet reconciliation
- Budgeting (Quarterly and Annual): Budgeting for Treasury, Fleet, Property and Tax related costs
- Banking facilities management: Engage with various Banks with the aim of continuous improvement and maximum automation where and when possible
- PayPal, Merchant service (EFT), Gateway management
- Maintaining Cash pools and sweeps
- Bank guarantee (Performance and Financial)
- Banking compliance, PCI compliance and banking mandate
- Corporate credit card management
- Maintaining relations with various banks and service providers
- Fleet Management: Working with Fleet partner to maintain a fleet of over 300 MV in Aus and NZ
- Working with Legal and other advisors.: Maintain relations with internal and external legal teams
- Property (5 DC, 2 Office, 1 Office NZ): Working closely with landlord and distribution managers regarding lease and property issues
- Managing 2 sub-Leases
- Audit: Team member of the internal audit team, responsible for testing allocated processes and controls
- Intercompany Settlement: Overlook intercompany AR, AP, Hedge SWAP and Borrowing settlement process
- ABS and IRD Surveys: Responding to various surveys as requested by IRD and ABS
- Insurance management: Working with an agent to renew various insurances, locating new insurers where required and compliance.
Rebate and Pricing Analyst
Electrolux Home Products Pty. Ltd (Australia and NZ)
05.2012 - 07.2014
- Review pricing request: Review all price change requests by sales team and submit findings for approval
- Monitor compliance with internal pricing policy and Margin guidelines
- Manage multi-customer rebate program
- Monthly dashboard: generate monthly EoM dashboard for sales showing accrual and spending under various rebate and promotion programs
- Commercial Tender Management: Work closely with Commercial sales team to assist them in identifying best product and pricing mix for various housing tenders
- Balance sheet reconciliation for trade spends accrual, rebate, M&A and Over and above spends
- Pricing system management
- Making sure pricing is working as expected and relevant accruals are made
- Revenue recognition: Prepare all necessary trade spend & overhead related month end journals and accruals
- Weekly staff commission: Generate store-level sale commission report to be paid weekly to various retain partners for sales under Agency Agreement
- GST recognition: As extension of revenue recognition, made sure GST impact of various Cashback giveaway promotions are recognised and recorded in right period.
Management Accountant
Freshfood Management Pty. Ltd. (Australia and NZ, FMCG manufacturing, distribution, and export)
05.2009 - 04.2012
- Sales and Rebate: Complying with company policy regarding margin adjustment and revenue recognition
- Rebate - Preparing PAF (Products activity statement) and generating rebate agreements for approved PAF
- Rebate agreement reconciliation and closure
- Rebate Analysis – Analysing effectiveness of Product activity and promotions
- Sales Analysis, Reporting and Commentary- Preparing Daily, Weekly and Monthly Sales reports
- Analysing monthly Sales Performance and providing Comments
- Margin Report and analysis– Calculating margin for division and customer level and providing reasoning for movement
- Inventory: Inventory Report - Weekly and monthly Inventory reports
- Analysing inventory
- Stock valuation and Movement report - Analysing moving average cost of inventory at various stages of production
- Forecast and budgeting
- Balance sheet forecast (AP, AR working capital)
- Cost centre variance analysis and providing commentary
- Month-end: Month-end sales/margin adjustment and AR accruals
- Inter-company COGS transfer and adjustment
- Month-end accruals, prepayments, provisions and amortization journals and reconciliation
- Business unit analysis
- Cost review & Variance Analysis
- Foreign exchange gain/loss analysis
- Weekly and Monthly debtor ageing and DSO analysis.
Assistant Accountant
JJ Lawson Pty Ltd. (Transport and freight brokers)
09.2008 - 05.2009
- Assisting in preparation of financial and management package including balance sheet and P&L statement
- Analysis and reconciliation of all balance sheets and general ledger accounts
- Preparation of monthly accruals and general ledger journals
- Fixed assets Register and journals
- Assisting in preparation of BAS
- Analysis of Trucking and maintenance cost
- Analysing tender profitability
- Accounts Payable / Accounts receivable / Bank reconciliation.
- Maintained detailed financial records of accounts receivable and payable status and bank reconciliations.
- Assisted with monthly and quarterly income statements, balance sheets and cash flow reports to inform decision-makers.
- Reviewed general ledger entries and assessed accuracy.
- Assisted with timely month-end closing procedures, resulting in accurate financial reporting.
Education
Qualified -
CPA Australia
Sydney, NSW01.2012
Master of Accounting -
Macquarie University
Sydney, NSW01.2008
Bachelor of Business Administration (Hons.) -
GGSIP University
01.2004
Skills
- MYOB Acumatica
- Velixo
- J D Edwards
- COGNOS
- Propend
- Power BI
- SAP
- Excel – Advance
- Employment Hero (Payroll & HR)
References
Available on request
Motorbike Riding
Love taking my motorbike out on weekends. Make me meet new people and clear my mind
Timeline
Finance Manager
AltX Pty Ltd
04.2021 - Current
Treasury and Tax Accountant
Electrolux Home Products Pty. Ltd (Aus. and NZ)
07.2014 - 03.2021
Rebate and Pricing Analyst
Electrolux Home Products Pty. Ltd (Australia and NZ)
05.2012 - 07.2014
Management Accountant
Freshfood Management Pty. Ltd. (Australia and NZ, FMCG manufacturing, distribution, and export)
05.2009 - 04.2012
Assistant Accountant
JJ Lawson Pty Ltd. (Transport and freight brokers)
09.2008 - 05.2009
Qualified -
CPA Australia
Master of Accounting -
Macquarie University
Bachelor of Business Administration (Hons.) -
GGSIP University
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