Summary
Overview
Work History
Education
Skills
Accomplishments
Careerachievements
Introductoryprofile
Timeline
Generic
Mridul Baberwal

Mridul Baberwal

Dubai

Summary

A proficient finance leader with over two decades of experience straddling across local & multinational financial institutions. Instrumental in launching and re-establishing banks from building block stages, while setting up finance functions across organizations and geographies. In addition to project ideation, strategic transformation encompassing risk and resource management, have successfully ensured regulatory compliance and championed financial budgeting, planning and analysis.

Overview

1
1
year of professional experience

Work History

Deputy Group Chief Financial Officer

RAKBANK
10.2023 - Current
  • Stepped up to provide leadership during arduous times
  • Active member of various Board & Management Committees
  • Board Member for strategic subsidiaries
  • Established Social Finance Framework, first ever by a bank in GCC
  • Represented RAKBANK in interactions with multiple Regulatory bodies
  • Active member and finance representative at UAE Banks Federation (UBF)
  • Established Capital Management, Contingency, Recovery, Resolution and various other policies for the bank
  • Planned and executed issuance of stock dividend increasing the Banks paid up Capital
  • Oversaw the statutory and internal audit process, ensuring accurate representation of financial position in accordance with IFRS.
  • Led financial strategies delivering continuous record quarterly profits
  • Delivered one notch viability rating upgrade for RAKBANK (Fitch) and one rating upgrade by Capital Intelligence
  • Mentoring and developing a high-performing finance function with skills of the future.

Head of Finance

RAKBANK
  • Instrumental in chalking out the strategy and financials for the group
  • Defined and formalized the funding strategy of the bank in consultation with the Enterprise Risk Management and the Treasury teams
  • Institutionalized hurdle rates, return metrics & deal evaluation mechanism for the bank
  • Introduced the customer profitability monitoring and reporting process
  • Responsible for evaluation and monitoring of all the strategic projects and investments of the bank
  • Responsible for preparation of all the Management, ALCO and Board Packs
  • Responsible for all Budgeting, forecasting, financial analysis and MIS for the bank
  • Conducted multiple deep dives to monitor the progress on the strategic agenda of the bank
  • Support the CEO, Management Team and the Board on all financial requirements and analysis
  • Led and established the revenue recognition, amortisation and contra revenue treatment for the Bank in line with IFRS and in consultation with the auditors
  • Ensured Board support and approvals to establish an Enterprise Resource Planning (ERP) system for the bank, increasing efficiency within the finance department while enhancing data visibility

Head Performance Management

Noor Bank
  • Was heading the Performance Management Function for Noor Bank, UAE
  • Instrumental in redefining the strategy for the bank and its segments
  • Participated in redefining the Vision, Mission and Values for the Bank
  • Introduced Bank & Segment/Functional scorecards
  • Institutionalized the Business Review process for all segments
  • Introduced a functional review process to keep a constant check on the headcount and costs
  • Led multiple deep dives to monitor progress of the strategic agenda of the bank
  • Was responsible for Budgeting, forecasting, analysis, strategic reporting and MIS of the bank
  • Was directly supporting the CFO, COO, CEO and the Senior Management on all financial requirements and Board submissions.

Head Performance Management

Standard Chartered Bank
  • Responsible for setting up and operationalizing the Business Performance Function for AME
  • Setting up the MIS structure and reporting cycles in consultation with the Regional CEO & CFO
  • Responsible for Budgeting, forecasting, strategy financials, quarterly/annual reporting through group financial statements
  • Finance lead for the property management team in the region
  • Supported the Country CFOs & country finance teams on projects and strategic deliverables
  • Directly supported the Regional CEO/CFO on all financial requirements
  • Worked closely with business teams to deliver the group priorities and projects.

Head Performance & Balance Sheet Management

Standard Chartered Bank
  • Was the appointed ALCO secretary for SCB UAE and DIFC
  • Supported and resolved various FTP arrangements and cross business conflicts at times suggesting policy changes to the Group Treasury Teams in the process
  • Supported ALM through Daily Balance Sheet monitoring across all relevant ratios
  • Was responsible to flag structural issues with the Balance Sheet and support its correction through strategic and tactical measures
  • Responsible for supporting the country performance with timely and accurate analysis through management reporting mechanisms, both to the Local and Group Management
  • Responsible for establishing the annual budgets for UAE and finalizing the quarterly forecasts from the country standpoint encompassing all the business and support functions
  • Manage the central cost base for all support functions ensuring that they track to budgets highlighting/managing all risks and opportunities associated with them
  • Responsible for performance benchmarking both internal and external in terms of process and performance along with managing the performance management teams
  • Required to support all management requests and provide appropriate feedback and insights to support management decision.

Head Budgeting, Planning & Cost Management

Barclays Bank PLC
  • Responsible for budgeting, planning & cost management function for EM/Barclays Africa
  • Guiding the business finance divisions to functionalize a strong MI reporting structure for Barclays
  • Manage the Short Term & Medium Term Plans for EM/Barclays Africa
  • Led the exercise of bringing out an appropriate functional view of the cost base keeping in mind the drivers and ownership of the expenses, trying to ensure better monitoring, controllability and standardization of cost governance across the markets
  • Established zero based budgeting across 18 markets of Barclays Africa
  • Supported the conceptualization, implementation & execution of various projects for the region/group.

Sr. Manager – Business Performance & Analysis, Finance

Barclays Bank PLC
  • An Integral member of the core team, responsible for the launch of Retail, Commercial Banking & Credit Cards for Barclays Bank in India
  • Hands on experience of project conceptualization, process definition, monitoring & execution of tasks within preset timelines
  • Instrumental in the implementation of Flex Cube & customization thereof to suit the internal reporting standards & management reporting requirements
  • Designed, structured & implemented the Chart of Accounts for the Barclays in India
  • Supported the set-up of the business performance function guiding the business finance divisions to functionalize a strong MI reporting structure for Barclays and since inception the team topped the performance benchmarks across the Emerging Markets cluster
  • Supported development and monitoring of the strategic plans (short / medium term) for the Bank
  • Supported the forecasting & tracking the adequacy of capital to comply with the regulatory norms and ensure the availability of capital resource for sustained business growth
  • Supported cost management & capital rationing to ensure effective & profitable utilization of the available resources.

Manager – Business Area Controller, PBC

Deutsche Bank AG
  • Integral member of the core team, responsible for the launch of Retail Banking & Credit Cards business for Deutsche Bank in India
  • Supported the roll out all the Retail & Cards products for Deutsche Bank
  • Was Instrumental in the implementation of Finacle Core Banking System & customization thereof
  • Designed, structured & implemented the Chart of Accounts for the Retail Banking & Cards, defining the process flow around the controlling related tasks
  • Responsible for the rollout & customization of Electra Cards System
  • Was responsible for reviewing the new products launched by the Bank
  • Responsible for setting up the management reporting desk in India, developed & structured MIS reports projecting the key performance areas & ensure Monthly / Quarterly & Annual reporting.

Asst. Manager – MIS, Finance

HDFC Bank
  • Instrumental in setting up the business targets / revised business targets in consultation with the product managers in light of the existing market conditions
  • Required to prepare the Board letters, reporting the performance of the retail assets portfolio, to the Managing Director & Board of Directors
  • Required to monitor the retail assets portfolio by reviewing every aspect of business and identifying causes for underperformance and suggest measures to rectify the same
  • Required to ensure the implementation of any policy decisions or special projects.

Education

Skills

  • Strategic Planning, Forecasting & Budgeting
  • Capital & Resource Management
  • Financial Performance Analysis & Benchmarking
  • Financial Controls
  • Cost Management
  • Regulatory Reporting
  • Project Execution
  • Investor Relations
  • Board & Senior Stakeholder Management

Accomplishments

  • Established the Social Finance Framework for RAKBANK – The First for a Bank in GCC
  • Established USD 2Billion Euro Money Term Note Program for RAKBANK
  • Instrumental in launching two major global banks in India from the building block stages
  • Established the Business Performance & Analysis functions across Standard Chartered Bank AME (Africa & Middle East), Barclays Bank – GRCB (Global Retail & Commercial Bank - Africa/India) & for Deutsche Bank PBC (Private & Business Clients - India).
  • Invigorated the planning processes across Barclays Africa through zero based budgeting
  • Made vital contributions to drive cost efficiencies for Barclays India, bringing 30% cost reductions in the form of run-rate saves; through deep dives/capacity management & right sizing
  • Awarded the “Gold Award” by the CEO at RAKBANK
  • Awarded the “Beyond Limits” award by the group HR director at Barclays
  • Nominated for the Group Chairman's Award at Barclays

Careerachievements

  • Established the Social Finance Framework for RAKBANK – The First for a Bank in GCC
  • Established USD 2Billion Euro Money Term Note Program for RAKBANK
  • Instrumental in launching two major global banks in India from the building block stages
  • Established the Business Performance & Analysis functions across Standard Chartered Bank AME (Africa & Middle East), Barclays Bank – GRCB (Global Retail & Commercial Bank - Africa/India) & for Deutsche Bank PBC (Private & Business Clients - India).
  • Invigorated the planning processes across Barclays Africa through zero based budgeting
  • Made vital contributions to drive cost efficiencies for Barclays India, bringing 30% cost reductions in the form of run-rate saves; through deep dives/capacity management & right sizing
  • Awarded the “Gold Award” by the CEO at RAKBANK
  • Awarded the “Beyond Limits” award by the group HR director at Barclays
  • Nominated for the Group Chairman's Award at Barclays

Introductoryprofile

A proficient finance leader with over two decades of experience straddling across local & multinational financial institutions. Instrumental in launching and re-establishing banks from building block stages, while setting up finance functions across organizations and geographies. In addition to project ideation, strategic transformation encompassing risk and resource management, have successfully ensured regulatory compliance and fostered my inclination towards financial planning and analysis.

Timeline

Deputy Group Chief Financial Officer

RAKBANK
10.2023 - Current

Head of Finance

RAKBANK

Head Performance Management

Noor Bank

Head Performance Management

Standard Chartered Bank

Head Performance & Balance Sheet Management

Standard Chartered Bank

Head Budgeting, Planning & Cost Management

Barclays Bank PLC

Sr. Manager – Business Performance & Analysis, Finance

Barclays Bank PLC

Manager – Business Area Controller, PBC

Deutsche Bank AG

Asst. Manager – MIS, Finance

HDFC Bank

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Mridul Baberwal