Ajay Mohan

• Streamlined month-end close process, reducing time spent on manual tasks and improving data accuracy;
• Ensured timely and accurate monthly and quarterly financial reporting, delivering actionable insights to management and supporting data-driven decision-making and timely corrective actions;
• Ensured compliance with federal tax regulations, and DCT, Abu Dhabi for timely filing of all required documents, mitigating potential penalties or fines;
• Led the end-to-end migration to a new ERP system, driving process automation, improving interdepartmental workflows, and establishing stronger internal controls tailored to the company’s evolving business needs;
• Implemented risk management strategies to protect company assets and minimize losses;
• Successfully completed audits of historical financial records from company inception through three fiscal years within a condensed timeline, ensuring compliance and transparency;
• Secured working capital financing and project funding for the construction of a new warehouse and office facility, aligning with the company’s growth and operational expansion plans;
• Led cost negotiations with contractors and optimized warehouse layout and space utilization, achieving significant budget efficiencies during construction;
• Prepared and presented financial feasibility reports for new business ventures, including a chain of medical clinics and a third-party logistics (TPL) operation, enabling data-driven decision-making by management;
• Played a key role in compliance activities, including the successful registration of trademarks for the company’s proprietary brands;
• Negotiated extended credit and favorable payment terms with a broad network of international and local suppliers, enhancing liquidity and procurement flexibility;
• Streamlined warehousing and logistics operations, reducing transportation costs and improving delivery scheduling and inventory management across diverse product lines;
• Managed daily cash flows, ensuring timely availability of funds, and consistently secured favorable foreign exchange rates for Euro and GBP procurements, mitigating currency risk;
• Improved accounts receivable turnover by negotiating early settlement discounts with key customers, thereby strengthening cash flow for ongoing procurement needs.

Company's core activities: Water Desalination, Power Generation and EPC contracts; Holding company - Investments in Utilities sectors.

Direct Reporting to - Group CFO.

• Consolidation of Group financial statements and preparation of MIS reports to be presented for the Boards of Directors;
• Analysis of variances in revenue and costing compared with the budgets and prior period figures;
• Financial modelling with ten years projections for the holding company and also separately for the SPV entities which is prepared for project financing and debt restructuring;
• Monitoring of internal capex and external EPC projects; ensure timely revenue recognition and billing of EPC contracts;
• Liaised with the a foreign bank for a successful draw-down of working capital facility of USD 30 Million for Company's general financing requirement;
• Liaise with Banks for EPC projects financing - Successfully closed financing requirement for project value AED 300 Million; Finance closure for various other projects in pipeline - Mainly for a project valued USD 375 Million;
• Manage Treasury functions for external EPC projects : Cash forecast & management; Processing of LC's and Trust Receipts;
• Liaise with Banks to process for Letter of Guarantees for both overseas & local Bid participations; Also process performance & advance payment guarantees for the projects awarded;
• Liaise with the Banks and respond to their queries on the Company's consolidated financials;
• Compute expected credit losses (ECL) for the Group's receivables at the end of each quarter as per ECL methodologies in compliance with IFRS 9;
• Liaise with the Group internal auditors and close the audit queries by coordinating with the departmental heads;
• Supervise the Accounts Receivable team and follow up on long outstanding balances and ensure speedy collections;
• Supervise the Accounts Payable team and monitor the payments and ensure timely settlements for critical suppliers.

Company's core activities: TPA for Medical Insurance having presence in UAE, Kuwait, KSA and Egypt (Currently merged with Neuron).

Direct Reporting to - Finance Manager and Group CFO.

• Monthly review of closings of group entities and preparation of group consolidated financial statements;
• Review of monthly invoicing and preparation of revenue reports presented to the BOD;
• Actively monitor accounts receivables and meet clients to discuss and close on long outstanding receivables;
• Authorize and monitor prompt payments of accounts payable and ensure that the agreed terms for supply of good/services are fulfilled by the supplier;
• Ensure compliance of UAE VAT and Compilation of information for filing of quarterly UAE VAT returns;
• Preparation of quarterly and yearly financial reports in compliance with the requirements of Insurance Authority and Statistic Centre - Abu Dhabi (SCAD);
• Provide financial information to the management and BOD to substantiate and support business decisions;
• Collaborate extensively with auditors during risk audits, certain agreed upon procedures, year-end audit processes of Holding Company & Subsidiaries (have dealt with EY and PWC for various audit);
• Identify control weaknesses and implement process improvements;
• Revise and streamline inefficient work procedure of reconciliation of bank accounts with huge transactions;
• Review of monthly payroll and accruals pertaining to end of service benefits, leave salaries and other employee benefits and ensure the compliance of UAE Labour Law;
• Monthly reconciliation of subsidiary, associate and joint venture companies accounts;
• Conducted reviews and evaluations for cost reduction opportunities and presented the same to the managers and obtained approvals for corrective actions;
• Cash forecast of the group entities for the next six months, oversaw cash management effectively, ensuring liquidity, minimizing idle funds;
• Prevent adverse profit impact on foreign currency settlements on behalf of insurance companies due to foreign exchange variations;
• Monitor Holding Company's and Subsidiaries; and Joint Venture's chart of accounts in Sage and Quickbooks to ensure right mapping of General Ledger accounts.

Company's core activities: Statutory Audit, Internal Audit, Management Consulting and Accounts Advisory.

Direct Reporting to - Audit Manager.

• Internal audit engagement of a large scale manufacturing company engaged in manufacturing of plastic films and pets;
  
• Conducted year end audit of finance department of RAK government, P.S.C. and clients engaged in airlines, ports, manufacturing, hypermarket, construction, healthcare and hospitality industries;
  
• Preparation of Management letters identifying control weaknesses and inherent risks present in a system and reporting weakness, its implications and recommendations;
  
• Development of accounting and internal control procedures, reporting systems and review of their compliance;
  
• Conducted review, evaluation and documented Client's accounting systems, procedures and internal controls to establish reliability and to assess the extent of testing procedures required for an engagement;
• Preparation of audit planning memorandum, determine the materiality limits and assess the scope and nature of substantive testing; 
• Held the responsibility for monitoring of audit and other various agreed upon procedures and ensure the engagement tasks are completed within the scheduled time slots and agreed budgets.

Direct Reporting to - Audit Supervisor & Audit Manager.

• Maintained books of accounts for clients engaged in trading and manufacturing activities;
  
• Conducted tax audits for various clients engaged in educational, healthcare, construction, retail and manufacturing activities;
• Engaged in internal audit engagements (quarterly) of a listed company depot and manufacturing unit situated in Karnataka.