Shanavas Kunhi Koroth
Muscat,Sultanate of Oman
Summary
Business-minded Finance Manager promoting more than 18 years of expertise overseeing transactions and reconciling monthly financial reports. Highly collaborative individual with track record of effectively training and coaching staff members. Offering confidence, team collaboration and decision-making skills. Adaptable and motivated communicator committed to improving financial controls, processes and procedures. Builds positive working relationships organization-wide to communicate financial requirements. Mentors' department managers in budget forecasting and cost-reduction measures. development.
Overview
25
25
years of professional experience
5
5
years of post-secondary education
Work history
Finance manager
Badr Enhanced Oil Recovery LLC
Muscat, Sultanate of Oman
04.2021 - Current
- Streamlined financial procedures to improve efficiency and accuracy.
- Managed a team of junior finance professionals, promoting professional development.
- Reduced operational costs by implementing cost-saving strategies.
- Developed comprehensive financial reports for top management review.
- Enhanced company profitability with strategic budget planning.
- Negotiated favourable terms with vendors, achieving cost savings.
- Led forecasting exercises to anticipate future business needs.
- Reviewed and updated internal financial policies, ensuring compliance with regulations.
- Ensured accurate tax filings, avoiding penalties and interest charges.
- Collaborated closely with auditors to ensure smooth audit processes.
- Conducted thorough risk assessments to mitigate potential losses.
- Provided key input in strategic decision-making meetings, influencing company direction.
- Implemented new financial systems enhancing data accessibility and reliability.
- Trained staff on finance-related matters improving overall understanding and performance.
- Facilitated capital-raising initiatives supporting business expansion efforts.
- Liaised between finance department and other departments fostering inter-departmental collaboration.
- Streamlined invoice processing reducing errors and delays.
- Prepared regular cash flow reports assisting in better fund allocation.
- Managed timely and accurate reporting of various financial transactions and information for detailed analysis.
- Managed cash flow and liquidity, mitigating financial risks and ensuring stability.
- Directed budgeting and forecasting activities to align financial goals with organisational objectives.
- Monitored and reviewed financial controls, processes and procedures to enable best practice development.
- Forecasted trends and interpreted cash flows to reliably inform business decisions.
- Consolidated comprehensive management accounts, integrating income statements, cashflow and balance sheets.
- Delivered regular management reporting and supervised quarterly tax calendar.
- Administered payroll processes for accurate, timely salary disbursements.
- Maintained KPI reporting tools for accurate, up-to-date financial data for decision-making.
- Implemented cost-control measures, optimising expenditure within budgetary constraints.
- Conducted variance analysis to identify discrepancies and implement corrective actions.
- Identified areas for improvement and enhancements in financial processes and reporting mechanisms.
- Contributed to hiring process by interviewing applicants and making recommendations for best-suited candidates.
- Reviewed bookkeeping and management accounts to achieve clear and correct reports.
- Created and presented accurate, detailed financial forecasts.
- Analysed financial performance to implement key improvement strategies.
- Finalised VAT returns with rigorous transaction checks.
- Collaborated with business management to set and control annual budgets.
- Reduced annual business expenditure through careful expense monitoring.
- Applied advanced Excel skills to efficiently analyse large data sets.
- Coached and mentored junior staff to maximise finance department capabilities.
- Made strategic resource recommendations to improve business profit potential.
Finance Manager
Milkers Dairy
Cochin Kerala, India
01.2019 - 01.2021
- Reduced operational costs by implementing cost-saving strategies.
- Enhanced company profitability with strategic budget planning.
- Negotiated favourable terms with vendors, achieving cost savings.
- Present timely and complete financial statements (MIS) for management review, including income statement, cash flow, and balance sheet.
- Set up financial systems, including policies and procedures, for the organisation.
- Manage accounting activities to ensure compliance with policies and procedures.
- Product costing by batch costing method using Excel template.
- Product pricing of different customers based on their categories, like wholesale, retail, and horeca.
- Prepare, analyse, and review annual budgets, and conduct variance analysis monthly, quarterly, and annually.
- Works with both internal and external auditors during financial and operational group audits.
- Overseeing and managing the Finance team for the smooth functioning of the Finance Dept.
- Liaise with debtors for proper management, and to ensure on-time payment recovery.
- Ensure payments to creditors are processed within agreed terms.
- Ensure that Opex and Capex are under control. Within budget.
- Monitor monthly payroll.
- Trained staff on finance-related matters improving overall understanding and performance.
- Prepared regular cash flow reports assisting in better fund allocation.
- Managed daily finance services for smooth business operations.
Chief accountant
Truck Oman Oil & Gas Services SAOC
Muscat, Sultanate of Oman
08.2014 - 09.2018
- Strengthened financial operations by implementing new accounting systems and procedures.
- Directed preparation of company budgets for streamlined fiscal management.
- Enhanced financial reporting standards with stringent audit practices.
- Streamlined audit processes to ensure regulatory compliance.
- Responsible for issuing timely, monthly consolidated financial statements.
- Preparation and submission of the annual budget for top management.
- Costing for different projects.
- Receivable, payable, and cashflow management.
- Daily reports of revenue status from each vehicle or equipment.
- VOR status and manpower allocation.
- Fuel usage reconciliation.
- Project-wise operational overhead calculation, profitability analysis.
- Rig Move Incentive Calculation.
- Verification of fixed assets, and monitoring.
- Monthly payroll processing.
- Updated journal entries and accounts on an accrual basis with Microsoft Navision software.
- Maintained updated knowledge of relevant laws and regulations avoiding legal complications.
- Tracked tax, invoicing, and budget information accurately using Microsoft Navision.
Sr Regional Accounting Office
Al Marai Dairy Company
Muscat, Salalah, Sohar & Musannah, Sultanate of Oman
03.2008 - 05.2014
- Streamlined office operations by implementing efficient accounting practices.
- Organised financial reports for more effective decision-making in management meetings.
- Supervised a team of junior accountants to improve their efficiency and accuracy.
- Facilitated communication between the accounting department and other internal teams, enhancing overall company productivity.
- Reviewing weekly and monthly sales turnover reports.
- Finalising the monthly accounts of the region.
- Preparation of debtor’s review reports on a weekly and monthly basis.
- Ensuring that debtors' collection efficiency, debtors' period, and other benchmarks are achieved.
- Reviewing and supervision of individual debtors' reconciliations, and following up for overdues.
- Processing of Credit and TC Applications.
- Supervision of bank reconciliation for the region.
- Ascertaining and recommending breakeven prices to carry out certain product promotions.
- Analysis of key account customer profitability.
- Management reporting.
- Supervising time sheets, and finalising the payroll of the Region.
- Prepare and submit monthly budget forecasts.
- Monthly overhead commentary to HO.
- Ensuring all financial-related transactions are in accordance with the company policies and procedures.
- Ensuring the accuracy of inventories and zero level of 'aged stocks'.
- Maintaining the fixed assets register and carrying out physical inventory checks on a quarterly basis.
- Regularly evaluating the Workshop Inventory Management System (WIMS) and having frequent workshop visits for reconciliation of workshop stocks.
- Providing various regional (Oman) ad hoc reports to the Head Office (KSA).
Depot Accountant
Al Marai Dairy Company
Dubai, Abu Dhabi, & Fujairah, United Arab Emirates
09.2006 - 02.2008
- Reviewing weekly and monthly sales turnover reports, margin analysis, and reporting.
- Preparation of debtors' review reports to the management on a weekly basis.
- Reviewing the journal entries.
- Finalising the accounts of the branch.
- Ensuring that debtors' collection efficiency, debtors' period, and other benchmarks are achieved.
- Reviewing and supervision of individual debtors' reconciliations.
- Supervision of bank reconciliation of the branch.
- Processing of credit and TC applications after evaluating the customers.
- Supervision of timesheets.
- Finalisation of payroll of the branch.
Assistant Manager Deposit
S M L Finance LTD
Cochin Kerala, India
01.2005 - 03.2006
Accountant Part Time
Padmesh Trading Company
Pondicherry, India
11.1999 - 01.2001
Education
Master of Business Administration - Finance
Kannur University
Kannur 07.2002 - 12.2004
B com - Commerce
University of Calicut
Kozhikode 07.1999 - 04.2002
Skills
- Treasury functions knowledge
- Proficiency in Tally, QuickBooks, Microsoft Navision, and Microsoft Dynamics Business Central
- Knowledge of IFRS
- Balance sheet review
- Fixed asset accounting
- Advanced bookkeeping
- Financial reporting and analysis
- Leadership engagement
- VAT return submissions
- Management accounts reports
- Statutory accounts preparation
- Cash Flow analysis
- Performance reviews
- KPI management
- Team management and mentoring
- Financial data analysis
- Variance Analysis
- Expense management
- Deadline focused
- Corporate compliance
- Month-end close management
- Microsoft Office tools especially advanced user of Excel
Languages
English
Fluent
Hindi
Fluent
Malayalam
Native
Arabic
Elementary
Accomplishments
Almarai Company -Advanced Supervisory Development program- 2013 by CEDAR Associates UK
Timeline
Finance manager
Badr Enhanced Oil Recovery LLC
04.2021 - Current
Finance Manager
Milkers Dairy
01.2019 - 01.2021
Chief accountant
Truck Oman Oil & Gas Services SAOC
08.2014 - 09.2018
Sr Regional Accounting Office
Al Marai Dairy Company
03.2008 - 05.2014
Depot Accountant
Al Marai Dairy Company
09.2006 - 02.2008
Assistant Manager Deposit
S M L Finance LTD
01.2005 - 03.2006
Master of Business Administration - Finance
Kannur University
07.2002 - 12.2004
Accountant Part Time
Padmesh Trading Company
11.1999 - 01.2001
B com - Commerce
University of Calicut
07.1999 - 04.2002
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