Vikas Aggarwal
DUBAI
Summary
Experienced, Seasoned Chief Financial Officer with two-decade Middle East experience in FMCG distribution, Retail and Distribution, Express Hypermarkets, Electronics and Healthcare. Worked long, valued added stints with multi-billion-dollar Retail Conglomerates with several leading brands based in Dubai and Oman. Recognized & awarded multiple times for accelerating development and profitability, fostering partnerships with critical stakeholders, and clearly articulating financial and management goals and results. Adept at Problem Solving and Troubleshooting at Business/ Company levels, spotting trends to support Board & Senior Management teams in decision making. World Class Technical expertise in strategic financial planning and analysis, multi-level budgeting, pinpoint forecasting, cash flow and working capital assets management, financial controls, risk assurance and mitigation, product profitability analysis and benchmarking, international and local taxation, funding and treasury arrangements, ERP and financial transformation, Mergers and Acquisitions. Also have functional experience in Human Resources, Online Marketing, and current Information Technology.
Overview
19
19
years of professional experience
Work History
Chief Financial Officer
Nikai Group
Dubai, UAE
09.2022 - Current
- Working closely with Chairman & MD for all Finance & IT led strategies
- Conducted detailed analysis of company financial information to drive internal and external financial reporting, stewardship of company assets and ownership of cash management.
- All Payments approval and Working Capital Management
- All Statutory Compliance including Audits/Tax along with Consultants
- Tracked cash flow and financial planning to analyze company's financial strengths and weaknesses and propose strategic directions.
- Maintained GCC P&L for all verticals.
- Implemented cost reduction initiatives and process improvements to optimize efficiency and productivity.
- Analyzed operational issues and implemented corrective action to maximize profits.
- Worked closely with audit team to hedge against or mitigate operational risks & Internal controls and processes.
- Directed budget development, budgetary controls and recordkeeping to make informed financial decisions.
- Analyzed inventory strategy, reduced expenses and renegotiated contracts with vendors to increase profit margin.
- Collaborated with legal, statutory , accounting and other professional teams to review and maintain compliance with regulations.
Chief Financial Officer
W.J.Towell Group - Enhance Group
Oman & Dubai, UAE
01.2019 - 06.2022
- Implemented Shared Services Centre resulting in 20-22% cost savings and helped standardization of processes across group companies in Oman (Total Savings ~ $ 200 Mn over 3 yrs.).
- Communicated business performance, forecasts and strategies to investors and shareholders.
- Systematic reduction of Working Capital during Pandemic phase by 15-20% across all verticals (Total Reduction ~ $ 500K).
- Reduction of 24 FTs across the period of 2 yrs.
- In IT/ Finance outsourcing consolidation and managed processes through Service.
- Reduced $ 9-10 Mn in last 3 yrs
- Implemented cost reduction initiatives and process improvements to optimize efficiency and productivity.
- Cultivated company-wide culture of innovation and collaboration.
- On actual through zero based budgeting, cost optimization through improvement in working capital management
- Participate in the development of corporate strategy providing functional leadership and challenge to test the viability of the strategy and contributing creative ideas and insights to support the strategy formation process
- Monthly In-depth reviews of all Businesses with Group CEO across all the companies and focus on business or group of businesses, or a strategic function that has the scale and global reach, or a large, relatively autonomous subsidiary
- Developed and maintained treasury relationships with banks and government lending institutions
- Monitor IT Projects charter rigorously and develop Strategies for IT enhancement for future alignment as per Business expectations
- Responsible for all accounting, finance & IT functions, internal controls, policies, and internal audits compliances
- Experienced with acquisitions, divestitures and mergers.
- Established and managed annual budget and monthly variance review to track expenses and minimize and reduced overhead expenses by 20% in renegotiating contracts.
Group Head Oracle, General Manager Finance & IT
LANDMARK GROUP
Dubai, UAE
09.2004 - 10.2018
- Increase in Margins (3-5%) due to Stringent Controls of Inventory and Daily Monitoring of Gross Profits
- This was across the
- Beauty & Wellness Vertical of Landmark in GCC over 200 + stores
- Derived major consolidation of Finance & Logistics functions through RPA process, with reduction of 7 FTs and savings of
- AED 2 Mn per annum in 2017-18
- Reduced Inventory Value of AED 100 Mn (around 15% on the base level) over 2 yrs
- Through better Open to Buy Controls, took place in 2016-18
- Introduced stringent, proactive, and cost-effective checks to prevent payment frauds
- This led to savings of approx
- 500k per annum in 2018-19
- Marketing, Commercial Negotiation across the group resulting in savings of approx
- 15-20%
- Early Careers in
General Manager
Landmark Group
DUBAI, UAE
01.2014 - 01.2018
- Developed and implemented strategies to increase sales and profitability.
- Managed budget implementations, employee reviews, training, schedules, and contract negotiations.
- Monitored financial performance, set budgets and controlled expenses to provide financial stability and long-term organizational growth.
- Maximized efficiency by coaching and mentoring personnel on management principles, industry practices, company procedures, and technology systems.
- Formulated policies and procedures to streamline operations.
- Collaborated with cross-functional teams to develop innovative solutions.
Education
IIM - Ahmemdabad
Gujrat10.2017
Chartered Accountancy -
ICAI, India
Chartered Accountancy 03.1998
B. Com (Hons) -
Delhi University
Delhi , India03.1995
Skills
- Top and Bottom-Line driven Strategy Working Capital Management Treasury Management
- Budgeting/Forecasting Business Transformation Mergers & Acquisitions
- Financial Planning & Analysis Retail /FMCG detailing Customer loyalty analysis
- Risk Management as Strategy IT ERP/SAP & Supply Chain Management Commercials Negotiations
- Expert Knowledge
- Formulation of Strategic areas at Board Level/ SBU Level to enable paradigm shift in company growth and
- Direction
- Business Process Improvements/ Financial Transformation with concurrence of all key stakeholders
- Leveraging and synergizing IT & Finance to the utmost for better decision making and superior results
- Supporting major business decision making through data mining, interpretation, and in-depth analysis
- Cost Optimization initiatives
- Acquisition of Business Entity & Agencies (done for WJ Towell Group) with related due diligence and
- Integration of operations
Timeline
Chief Financial Officer
Nikai Group
09.2022 - Current
Chief Financial Officer
W.J.Towell Group - Enhance Group
01.2019 - 06.2022
General Manager
Landmark Group
01.2014 - 01.2018
Group Head Oracle, General Manager Finance & IT
LANDMARK GROUP
09.2004 - 10.2018
IIM - Ahmemdabad
Chartered Accountancy -
ICAI, India
B. Com (Hons) -
Delhi University