ASHISH KHANDELWAL
Chartered Accountant
Bengaluru
Summary
A seasoned finance leader with 15 years of progressive experience spanning statutory audit, e-commerce, digital payments, and retail. My expertise encompasses 11 years in PwC's statutory audit practice, primarily serving retail clients, followed by a pivotal year at Amazon India's payments business. Most recently, I've served for 2 years as CFO for Decathlon India's e-commerce and wholesale divisions, driving significant financial and operational transformations. I bring a unique blend of big four rigor, digital finance acumen, and strategic retail leadership to complex financial challenges.
Overview
14
14
years of professional experience
17
17
Years of overall experience (incl. articleship)
Work History
CFO - E-Commerce, Wholesale & New Business
Decathlon Sports (India) Pvt. Ltd.
06.2023 - Current
- Led comprehensive financial planning and analysis (FP&A) for Decathlon India's rapidly expanding e-commerce and wholesale channels, driving annual budgeting, forecasting, and performance monitoring to achieve aggressive growth targets.
- Led a complete financial and operational revamp of the e-commerce business over the past two years, significantly enhancing profitability, optimizing processes, and driving substantial performance improvements.
- Spearheaded the financial strategy and launch for new high-growth sales channels, including successful integration on 3 major quick commerce platforms and expansion into external marketplaces, significantly diversifying revenue streams.
- Developed and implemented innovative financial models for the wholesale division, transforming its profitability and ensuring sustainable growth through optimized partnerships and operational efficiencies.
- Resolved critical long-standing issues around accounts receivables and complex reconciliations, drastically improving cash flow realization and strengthening the financial health of the business.
- Provided comprehensive financial planning and analysis (FP&A), including budgeting, forecasting, and performance monitoring, to support aggressive growth targets across e-commerce and wholesale including providing key insights to business leaders for key strategic decisions.
- Strategically optimized working capital management for both digital and wholesale supply chains, enhancing liquidity and ensuring efficient resource allocation.
- Guided key strategic decisions on market expansion, pricing, and operational investments, leveraging financial insights to drive profitable growth across all direct-to-consumer and B2B channels.
- Mentored finance and business team members, fostering a culture of professional growth and skill development within the department.
Finance Manager- India Controllership team
Amazon Pay (India) Private Limited
01.2022 - 01.2023
- Drive appropriate accounting as per IndAS/IFRS/USGAAP for Payments Accounting business in India under Amazon Pay.
- Established financial controls on Nodal & Escrow fund flows, RBI Regulations on Digital Lending, Affordability programs, etc.
- Performing monthly review of India Payments Balance Sheet and Profit & Loss Statement
- Review of journal entries posted by the team during month end and review periodic reconciliations prepared by the team w.r.t critical accounts like nodal accounts, affordability expenses, login&pay balances, etc.
- Performing ad-hoc reviews with finance/business teams on impact of commercial agreements with third parties.
- Involved in finance automation projects saving 300 hours annually.
- Liaising with Business and Finance teams to streamline business & accounting processes.
- Assisted in recruitment exercises for the Payments business.
- Part of the projects team involving setting up of new entities to enhance India businesses.
Associate Director, Audit & Assurance
PRICE WATERHOUSE LLP (PwC)
09.2011 - 01.2022
- Handled clients across various sectors including Retail & Consumer, Pharma and Manufacturing.
- Performed financial statements audit to assess accounting compliance (Ind AS/IFRS), regulatory compliance (SEBI, MCA, FEMA, etc.) and, internal controls compliance (IFCFR/SOX).
- Key clients were Listed entities: Aditya Birla Fashion & Retail Limited, AstraZeneca Pharma India Limited, 3M India Limited; Private limited entities: Landmark Group (Lifestyle/Max Hypermarket/Citymax), Decathlon Sports India, Praxair, VF Brands (Lee/Wrangler brands), IQVIA, Tesco.
- Automated manual auditing methods thus saving significant hours on audit engagements (~10% savings in audit hours per client engagement).
- Supervised large and diverse teams across clients including cross-border engagements (3-12 people depending on client size).
- Achieved business development goals through increasing recurring fee from clients, winning new clients (avg. fee increases/ new assignments of INR 8-12 million per year).
- Supported Location Practice Leadership team to assess practice performance i.e. evaluate revenue and earnings from clients at practice level, evaluate rater per hour from clients, sector wise growth, etc.
- Assisted in recruitment drives across levels and acted as people coach for multiple team members.
Education
Chartered Accountant -
Institute of Chartered Accountants of India
Kolkata, India 01.2008 - 05.2011
Bachelor of Commerce (H) -
St. Xavier's College
Kolkata, India 04.2006 - 03.2009
High School Diploma -
Don Bosco School
Kolkata, India 04.2004 - 03.2006
Skills
Effective strategic leadership
Interests
Finance automation
Data Analytics
Travelling
Fitness Enthusiast
Timeline
CFO - E-Commerce, Wholesale & New Business
Decathlon Sports (India) Pvt. Ltd.
06.2023 - Current
Finance Manager- India Controllership team
Amazon Pay (India) Private Limited
01.2022 - 01.2023
Associate Director, Audit & Assurance
PRICE WATERHOUSE LLP (PwC)
09.2011 - 01.2022
Chartered Accountant -
Institute of Chartered Accountants of India
01.2008 - 05.2011
Bachelor of Commerce (H) -
St. Xavier's College
04.2006 - 03.2009
High School Diploma -
Don Bosco School
04.2004 - 03.2006
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