Top Level assignments in Strategic Management /Financial Planning & Management /Budgeting/ Fund Management /Project Evaluation/ BPR with an organisation of repute/taxation/Insurance/Teaching

PROFESSIONAL SYNOPSIS

A Qualified Cost & Works Accountant with over 38 years of experience in overseeing a gamut of finance functions viz., Strategic Management, Financial Planning & Management, Budgeting and Fund Management as well as routine financial functions. Currently designated as a Principal officer with Insurance Brokers at Chandigarh. Demonstrated business acumen in leading and managing the operations, thereby achieving a higher rate of organic growth, effectively discharging the functions. Extensive experience in conceptualising and implementing financial procedures, including maintenance & finalisation of accounts, working capital management, profit monitoring and building internal financial controls. Adept at undertaking BPR initiatives, and handling project financing activities. A keen analyst with exceptional relationship management skills and abilities in liaising with Banks, Financial Institutions and other external agencies.

ORGANISATIONAL EXPERIENCE

May 2012-till Date Practicing Cost Accountant & Insolvency Professional (2017) Proprietor
Jan ’03 – May 2012 Embee Insurance Brokers Chandigarh Managing Director
Oct ’01 – Jan ’03 UGCE-IIET (IRDA Approved), Chandigarh Director
Jan ’96 – Oct ’01 Him Tekno Forge Ltd. Chandigarh General Manager – Finance
May ‘83 – Jan ‘96 Semiconductors Complex Ltd., Mohali Manager (Finance)
Feb ’80 – May ’83 CAG of India, New Delhi Section Officer
Aug ’79 – Feb ’80 Govt. College, Gurgaon Lecturer

CORE COMPETENCIES

Strategic Management

• Heading the overall operations entailing strategising long term business direction, developing the organisational road map and directing focussed business approach.
• Formulating need-based business plans / strategies for maximizing profitability & revenue generation & realise organizational goals.

Financial Planning & Management

• Overseeing the finance functions involving determining financial objectives, designing & implementing systems, policies & procedures to facilitate internal financial control.
• Managing treasury function involving optimum utilisation of surplus funds in profitable investments to achieve higher returns, ensuring minimum liquidity position.

Budgeting/ Fund Management

• Formulating budgets and conducting variance analysis to determine difference between projected figures & actual expenditure and implementing corrective actions.
• Liaising and negotiating with banks and financial institutions for raising fund and non-fund based facilities to meet working capital and project requirements.

Accounting / Costing

• Designing and implementing systems & procedures; supervising the consolidation of group accounts and preparation of financial statements & annual reports.
• Establishing strategic cost management systems for monitoring various overheads and keeping cost control over overheads, cycle times, machine loading, capacity analysis etc.

Project Evaluation/ BPR

• Undertaking BPR initiatives by studying existing processes, analyzing new process requirements and customizing systems to suit the changed process & Screening new projects and conducting feasibility studies to determine the financial viability of new ventures.

Insurance Project

• Designing & developing the insurance polices as per the Client’s requirement as it is possible as the insurance sector is opened in India.

NOTABLE ACCOMPLISHMENTS

At Embee Insurance Brokers Ltd., Chandigarh

• Overall in charge of the company, set up the company, service tax, income tax liasion with IRDA, insurer
• Actuarial Valuation of Pension Fund for the employees of Punjab University Chandigarh
• Design the new product for the various clients, saved premium from 20% to 64% of various clients
• Revenue generated: Brokerage earned Rs 55 lakhs ,66 lakhs and Rs 90laks
• Designed a software for insurance brokers which is saleable in the market
• Insurance Broking is a new concept in India & from the very beginning all system are streamlined as per the need of the system

At UGCE-IIET (IRDA Approved), Chandigarh

• Developed a course insurance course called Post graduate Diploma in Insurance and the said course is approved By IRDA. All the study material was written.
• Rewrite the existing study material of insurance Agents

At Him Tekno Forge Ltd. Chandigarh

• Working capital limit arranged up to 25crores
• Prepared the Forward integration project report amounting to Rs 10 crores. Arranged foreign investment, interaction for Due diligence By renowned Consultant
• Computerised the total system from salary, inventory, accounting system, debtors analysis invoicing, merger of accounts of three units located at different places
• Arrange the merger of two companies

At Semiconductors Complex Ltd., Mohali

• After fire in the factory the funds invested in a manner to get the maximum return on account of interest, Refund of income tax on account of Foreign Tax
• Defence project of Rs 75 crores, prepare the project report of Rs 300 crores & got approved from PIB Govt of India after the fire occurred in the factory
• Shifting of computerization from Mainframe to in house computers.
• Settlement of fire claim of Rs 56 crores in record time of 12 months

At Comptroller & Auditor General Of India, New Delhi

• Conducted Proprietary & Accounts of audit of Govt of India Undertakings
• Preparation of Review of India Tourism Development Corporation, to put up in the Parliament

At Govt College Gurgaon Haryana India

• Taught under graduation classes

OTHER ENGAGEMENT

• Arbitrator for Service Matters
• Written various books on Insurance subject
• Compilation of General Insurance legal Decisions,
• Compilation of Life Insurance legal Decisions,
• Practical Aspect of Fire Insurance,
• Practical Aspect of Engg Insurance
• Hand Book for Insurance PSU’s Officers promotional examination
• Practical Aspect of Marine Cargo Insurance
• Liability Insurance
• Cyber Security Insurance
• Impact of GST on Insurance Sector
• 121 Tips to Avoid legal disputes in Insurance
• Providing coaching to PSU Officers for promotional examination at Ludhiana & Chandigarh
• Guest faculty at various universities i.e. PU Chandigarh, Chitkara University, Regional Institute of Cooperative Management Chandigarh, KU, Kurukeshtra, Guru Jambeshawar, Hisar, RTC , United India Insurance Ltd Ludhiana and Chandigarh
• Committee Member of National Open School (Under Min. of HRD) Govt of India to design & develop the course on Insurance namely Diploma In Insurance Management (Approved by Ministry of HRD, Govt Of India)
• Director, Insurance Brokers Association of India
• Written study material for various universities courses
• Written articles for IRDA monthly Journal