CA Nirup Kumar E.M
Chartered Accountant
Seasoned Financial Controller/CFO with a proven track record in driving financial performance and strategic initiatives. Expert in financial reporting, budgeting, forecasting, IFRS, and legal Compliances. Seeking challenging roles in dynamic organization within the Gulf Region.
+971508530677
emnirup@gmail.com
linkedin.com/in/nirup-kumar-04b21440
PROFILE SUMMARY
• Qualified CHARTERED ACCOUNTANT and Fellow Member of the Institute of Chartered Accountants of India (ICAI).
• Highly motivated Chartered Accountant with 20+ years of experience in the UAE, specializing in Real Estate and Wholesale, Distribution & Retail sectors. Proven track record of reducing operational costs by 10% through strategic financial planning and process improvement. Skilled in applying IFRS , VAT, Corporate Tax regulations.
• Developed and managed comprehensive financial budgets, forecasts, and business plans. Conducted in-depth variance analysis to identify opportunities for improvement. Implemented corrective actions to optimize financial performance.
• Proactively engaging with banks to optimize loan structures and minimize borrowing costs. Executing timely loan buyouts to capitalize on market fluctuations and lower interest rates. Leveraging strong relationships to secure preferential terms and expedite approval processes.
• Results-oriented problem-solver with strong analytical and organizational skills. Collaborative leader with excellent communication and team-building abilities.
• Leverages expertise in SAP, Oracle, MS Office, Promise, and Tally to drive operational efficiency.
• Spearheaded the VAT implementation project, resulting in a seamless transition to the new VAT regime. Optimized VAT processes through SAP integration, streamlining workflows and reducing errors.
• Proactively monitors and addresses compliance risks related to VAT, AML, UBO.
• Optimizes payroll processes to reduce errors and improve efficiency. Drives timely collections of outstanding receivables to improve cash flow. Strengthens credit risk management through effective policy implementation and monitoring.
CAREER TIMELINE
CORE COMPETENCIES
SOFT SKILLS
- Change Agent
- Decision-making
- Problem-solving
- Design Thinking
- Collaborator
EDUCATION
• Chartered Accountant from ICAI, India.
• B.SC. from Calicut University, India.
NOTABLE ACCOMPLISHMENTS ACROSS THE CAREER
• Secured optimal financing: Negotiated favorable terms for term loans, reducing interest costs by 6M.
• Successfully implemented ERP systems: Led the implementation of SAP (2016) and Oracle 11g (2011) to streamline operations.
• Optimized insurance costs: Implemented cost-saving strategies for medical and property insurance, reducing premiums by 20%.
• Enhanced vendor management: Improved vendor sourcing and payment terms to boost profitability.
EXPERIENCE IN UAE
Crescent International Group , Dubai - Group Financial Controller Aug 2022 to Present nance Controller
• Led and mentored a team of 6 finance professionals, driving operational excellence and fostering a positive work environment.
• Conducted comprehensive feasibility studies for land acquisitions and commercial property developments, providing strategic insights for decision-making.
• Implemented effective leasing strategies to maximize occupancy rates and rental income, contributing to the overall financial performance of the business.
• Oversee the review and approval of monthly progress payments (AED15M) and consultant certifications for ongoing projects, ensuring accurate and timely disbursements.
• Monitored and managed performance and advance payment guarantees from contractors, mitigating financial risk and
ensure project timelines.
• Cultivated strong relationships with key banking partners, resulting in the negotiation of a AED 50 million term loan with a
1.5% lower interest rate.
• Ensured compliance with debt covenants and regulatory requirements, protecting the company's financial health.
• Optimized cash flow by effectively managing working capital, improving liquidity and reducing financing costs.
Rocky Real Estate LLC, Dubai - Group Financial Controller OCT 2008- JULY 2022 Finance Controller
Key Result Areas:
• Led and mentored a team of 14 finance professionals, driving operational excellence and fostering a positive work environment.
• Conducted comprehensive feasibility studies for new building leases, providing strategic insights for decision-making.
• Monitored and reviewed staff commission structures, ensuring alignment with business objectives and optimizing performance.
• Prepared and analyzed building occupancy and vacancy reports, driving the leasing team to achieve maximum occupancy and rental income.
• Oversee the review and approval of monthly progress payments, consultant certifications, and contractor guarantees, ensuring accurate and timely disbursements and mitigating financial risk.
• Managed banking relationships negotiated favorable terms for term loans and working capital facilities, and optimized cash flow.
• Prepared and analyzed monthly and year-end financial statements, ensuring compliance with accounting standards (IFRS), and
Provided insightful variance analysis
• Prepared and analyzed monthly and year-end financial statements, ensuring compliance with accounting standards (IFRS), and provided insightful variance analysis.
• Developed and implemented a robust financial reporting process, ensuring timely and accurate information for decision-making.
• Successfully implemented IFRS 16 Leases, ensuring compliance with the new accounting standard.
• Strengthened internal controls and conducted internal audits to identify and mitigate risks, ensuring operational efficiency and compliance with regulations.
• Provided strategic financial advice and support to the CEO and management team, driving business growth and profitability.
• Challenged the status quo, identified opportunities for process improvement, and implemented cost-saving initiatives.
• Maintained and reviewed policies and procedures, ensuring compliance with all relevant legislation and best practices.
• Provided insightful financial analysis and reporting to management and other stakeholder.
Highlights:
• Ensured timely financial closures and budget analysis. The days submitting reduced from 20 to 5 days.
• Successfully restructured bank financing during the COVID-19 pandemic. Resulting the interest rate by 1% and monthly repayment amount reduced by 30%.
• Drove strategic initiatives to optimize asset portfolio and improve cash flow.Reduction unproductive asset from 7million to 2million.
Jaleel Holdings, Dubai Group Financial Controller April’2004 – July 2008
Key Result Areas:
• Oversee the day-to-day operations of the Accounts & Finance department, ensuring efficient and accurate financial processes.
• Collaborated with bankers to review existing facilities and source new low-cost funding options, optimizing the company's capital structure.
• Monitored and analyzed the monthly performance of individual divisions (Retail, Distribution, Wholesale, and Fresh Food), identifying areas for improvement and driving operational efficiency.
• Supported group companies in debt collection efforts and attended top customer meetings to strengthen relationships and resolve issues.
• Facilitated synergies and collaboration among group companies, maximizing operational efficiency and cost savings.
• Maintained strong relationships with insurance companies, suppliers, and other stakeholders, ensuring smooth operations and minimizing risks.
• Conducted comprehensive internal audits to assess the effectiveness of internal controls and ensure compliance with accounting standards and regulations.
• Reviewed business contracts and negotiated favorable terms, protecting the company's interests and maximizing profitability.
• Collaborated with banks, auditors, clients, government authorities, and other third parties, fostering strong relationships and facilitating smooth operations.
Highlights:
• Negotiated favorable payment terms with vendors, extending the credit period from 60 to 90 days, improving cash flow and strengthening supplier relationships.
• Actively participated in vendor sourcing and selection processes, ensuring quality and reliability while optimizing costs.
• Implemented effective strategies to reduce the debtor collection period from 90 to 72 days, freeing up AED 4 million in working capital.
• Optimized inventory management practices, reducing the average holding period from 30 to 15 days, improving working capital efficiency and minimizing inventory carrying costs.
PREVIOUS EXPERIENCE IN INDIA
Amita Juliana Marine Pvt Ltd Finance Manager Dec’ 1999 - Mar’ 2004
• Processing of financial data, cost control and MIS reporting
• Payroll Management, Budgeting, Insurance functions for supporting the business system to enable financial consolidation at corporate level.
• Responsible for finalization of annual accounts and reporting as per company reporting rules & International Accounting standards (IFRS).
• Coordinating with customs, excise, sales tax authority, income tax & other government departments to ensure compliance.
P Mohan & Associates Audit Manager Sept’ 1997 – Nov’ 1999
• Conducting bank and statutory audits and finalization of audit reports, advisory services to clients in systems establishment and taxation affairs
• Assisting in conducting statutory audits/ tax audit, internal and external audit of various corporate and non-corporate entities for analyzing existing systems for proposing improvisation measures.
PERSONAL DETAILS
Age : 53 years
Languages Known : English, Hindi and Malayalam
Nationality : Indian
Driving License : UAE Light Vehicle
Marital Status : Married
Visa Status : Employment Visa