Avanti Khandelwal
Director, Treasury
New Delhi,DL
Summary
A creative and seasoned professional with diversified experience of nearly nineteen years in driving enterprise-wide transformation, growth strategy, and operational excellence. Proven track record of leading P&L ownership, multi-year transformation programs, and crossfunctional teams across strategy, operations, technology, and change management. Trusted advisor to CEOs and Boards, known for translating strategy into measurable results. investment advisory, Treasury and Corporate Banking. Been at various crucial positions in PwC India, Alstom India and Ericsson India. Have been one of the first Treasurers in the country to do an ECB in INR and do hedging in CNH and PLN. Have always been a top performer and recognized for multiple transactions. Created a niche in every organization worked with and been a part of the Talent Pool Team that always added value by working on the key transactions and transformation, which saved phenomenal cost and immensely benefitted the organization in the long run. Being a seasoned Treasurer and Investment Advisor, have worked on various aspects of investment management, forex management, framing policies, driving automation projects, debt syndication, raising working capital and project finance, mergers and acquisitions and trade finance transactions Broadened the horizon by achieving experience in leading the Investment Committees and setting up the Treasury for a new organization, including the entire banking setup and project finance for a green field project. Gained a lot of insight and experience by doing many first ever transactions in Treasury in the country. Very well known in the banking sector and maintain extremely good relationship with banks, Primary Dealers/Brokers, rating agencies and various consultancies. Scripted several process notes and work instructions in the area of investment, risk and compliance and instrumental in introducing online platforms as one stop technological solution to various needs of the organizations.
Results-driven leader with strong background in strategic management and organizational growth. Skilled in developing and implementing effective business strategies, optimizing processes, and driving team performance. Known for adaptability, effective collaboration, and delivering measurable outcomes in dynamic environments. Strong communication and problem-solving abilities, coupled with focus on fostering productive and positive team culture.
Overview
19
19
years of professional experience
Work History
Director Treasury
PwC India
02.2024 - Current
- Owned end-to-end P&L: Owned end to end P&L for business unit with revenues of $250m, driving 7% revenue growth and 12 pts margin improvement over 2 years.
- Leading Transformation projects and designing go to market strategy: Have been instrumental in setting up various transformation strategies and designing market policies.
- Investment Management: Manage Investment portfolio of all the entities of PwC, conduct market research and analysis to identify investment opportunities and manage a team of Investment analysts and Traders.
- Fund raising – long term and short-term loans: Arranging working capital and foreign currency loan, setting up of fund based and non-fund based limits with Banks. Involved in end-to-end negotiation and set up of limits with Banks
- Cash Management: Ensuring liquidity across the legal entities. Monitoring of Cash Flow on daily basis as well as long term basis through Cash Forecast.
- Policy designing: Instrumental in designing and implementing key policies pertaining to local banks, FEMA and forex compliances. Some of these include end to end export and import policy, covering FEMA and forex compliances and investments in short term liquid funds.
- Leasing: Managing entire employee lease (cars and apple products) and office lease (IT assets and Furniture and Fitouts) program including price negotiation.
- Bank, Investment house and Rating agency relationship: Manage the relationship with Financial Institutions and Rating agencies.
- Achievements:
- Recognized by Axis Bank for executing some niche deals with them
- Nominated for The Asset Triple A Treasurise Awards for executing a complex transaction in Gift City
- Nominated for Women in Treasury Award for the Corporate Treasury Awards 2025
- Pioneer in initiating investments in short term liquid funds
- Recognized for contributing to the overall organization on many occasions
Corporate Treasurer
Ericsson India Pvt. Ltd.
06.2017 - 01.2024
- Cash Management: Ensuring liquidity across the legal entities, monitoring Cash Flow on daily basis through Cash Forecast. Consolidating the cash position of different Business Units and monitoring and reporting of the same. Optimisation of Cash by remitting dividend, Bill Discounting on non-recourse basis.
- Policy designing and leading transformation projects: Instrumental in designing the entire back-office operations setup in Stockholm and forming operation strategies.
- Leading Transformation projects and automation: Have been instrumental in designing and leading various automation projects and executing the same in various geographies.
- Investment Management: Managed the entire Pension Trust and Gratuity Trust investments. Worked as a key decision maker to strategize investments and secured high yields.
- Forex & Risk Management: Managing entire Front Office and compliance activities for 2 Legal Entities. Providing necessary support to business regarding their hedging strategy and manage Negotiation of ISDA.
- Fund raising – long term and short-term loans: Arranging working capital loan, long term loan, setting up of fund based and non-fund based limits with Banks. Involved in end-to-end documentation, negotiation and set up of limits with Banks.
- Sale of Receivables and dividend distribution: Managing tie-up with banks for SOR, discussion and understanding of their single borrower limit, discussion and negotiation of terms and conditions of Master Agreement for Sale and Purchase of Receivables (MPRA) and floating the RFQ as per requirement. Analysis and final discussion of dividend disbursement, finalisation of bank for the outflow of the same and execution of final remittance.
- Mergers & Acquisitions: Managed end to end M&A transactions worth USD 330 million as a core team player.
- Achievements:
- Joined as a Senior Manager and elevated to Company Treasurer
- Instrumental in writing the key policies and their implementation
- Arranged the first ever SOR program through debt syndication through BNP Paribas Bank
Senior Manager
Home Credit India Finance Pvt. Ltd.
05.2016 - 05.2017
- Bank relationship for meeting funding requirements
- Meeting key officials in RBI and seek clarifications on policies and regulations governing NBFC and Bank operations
- Ensuring Compliance and good understanding of regulatory guidelines
- Provide regulatory guidance to internal stakeholders, to allow them to make key decisions on critical business activities and project feasibility
- To work with major trade bodies and other industry associations to put across the Home Credit’s view
- Pro-active and strategic planning
Senior Manager
Alstom India
12.2010 - 04.2016
- Policy designing and leading transformation projects: Instrumental in setting up the entire Treasury of ALSTOM Bharat Forge being the only Treasurer of that JV. Executed key transformation and digital automation projects and a part of the selected team sent to Switzerland to attend and further execute the Powermax SAP GUI
- Forex & Risk Management: Responsible for finding the best hedging strategy in the tendering and execution phase of contracts. Monitoring the booking of Forwards, SPOT, TOM, Cash, SWAPS as currency Hedge Instruments.
- Cash Management: Ensuring liquidity across the legal entities. Arranging pooling at country level and global level after considering local regulations. Monitoring of Cash Flow on daily basis through Cash Forecast.
- Achievements:
- Got 3 promotions within 4 years and was consistently a top performer
- Part of core transformation and automation team
- Made four successive block trades towards takeover worth $1.5 Billion
- Raised ~$250 Million of 12 years door to door long term loan for green field projects on non-recourse basis at cheapest cost within shortest possible time including syndication of loan. The same has got the “Asia Law Journal deal of the year” award in 2011.
- Instrumental in writing the key policies and their implementation
- Arranged the first ever ECB in INR and initiated hedging of CNH and PLN.
Senior Manager
Investeurs Consulting (P) Ltd.
01.2010 - 10.2010
- Dealing with customers and handling their Transaction Banking (Trade Finance, Forex and CMS) and Corporate Banking requirements
- Ensure smooth trade finance and corporate finance working by coordinating with clients and adhering to RBI guidelines and other regulations.
- Liaising with banks for developing new strategies
Senior Manager
Kaizen Corporate Services Ltd.
04.2009 - 12.2009
- Dealing with customers and handling their Transaction Banking (Trade Finance, Forex and CMS) and Corporate Banking requirements
- Ensure smooth trade finance and corporate finance working by coordinating with clients and adhering to RBI guidelines and other regulations.
- Liaising with banks for developing new strategies
Assistant Manager
ICICI Bank Ltd.
10.2008 - 02.2009
- Conducting credit & risk analysis entailing detailed technical, financial statements analysis, business & industry analysis, assessment of Term Loan & Working Capital requirements
- Import and Export documentation including issuance of Letter of Credit, Bank Guarantees & Amendments
- Understanding Cash Management issues of clients and coordinating further with operations manager
- Arranging for Packing Credit Disbursement
- Ensuring compliance with statutory/ regulatory requirements specified by RBI & other regulatory authorities
- Handling preparation of various MIS reports
Assistant Manager
IDBI Bank Ltd.
06.2007 - 10.2008
- Dealing with customers and handling their Trade Finance and Forex Requirements.
- Ensuring compliance with statutory/ regulatory requirements specified by RBI & other regulatory authorities.
- Issuance of Letter of Credit & Amendments
- Worked on SWIFT for all LC and BG requirements
Education
Senior Management -
MBA - Finance
Bachelor of Commerce - undefined
Skills
Proven track record of leading transformation teams and implementing fully integrated Treasury Management System like KRYIBA, IBSFintech and defined and executing enterprise transformation roadmap
Experience of leading cross functional teams and managing executive leadership and investment committees
Managing Risk and Compliance
Executing Transformation projects and leading Treasury Management Systems implementation
Power BI and Tableau
Arranging long term, project finance and working capital
Greenfield / Brownfield Banking Strategy
Drafting Corporate Policies and Framework
Merger & Acquisition
Trade Finance
Awards
- Executed a merger of approximately USD 330 million
- Successfully managed PF and Gratuity Trust investments of more than INR 5,000 cr
- Hands on experience of managing large investment portfolios and received many testimonials from ex employee as well as Financial Institutions
- Got 3 promotions within 4 years for consistently being top performer
- Won the Asia Law Journal Deal of the Year award for Green Field project worth more than INR 3,000 cr. The project was identified for being finely negotiated.
- Made four successive block trades towards takeover worth $1.5 Billion.
- Got awarded for successfully executing block trade deals.
- First CNH Hedging was done for the country through Standard Chartered Bank. Forex Lines were enhanced by 400% in three years.
- First rupee denominated ECB in the country was arranged
- Invited as a Panelist by Banks
- Instrumental in executing first ever nonrecourse Sale of Receivables transaction through debt syndication structure in the country.
Timeline
Director Treasury - PwC India
02.2024 - Current
Corporate Treasurer - Ericsson India Pvt. Ltd.
06.2017 - 01.2024
Senior Manager - Home Credit India Finance Pvt. Ltd.
05.2016 - 05.2017
Senior Manager - Alstom India
12.2010 - 04.2016
Senior Manager - Investeurs Consulting (P) Ltd.
01.2010 - 10.2010
Senior Manager - Kaizen Corporate Services Ltd.
04.2009 - 12.2009
Assistant Manager - ICICI Bank Ltd.
10.2008 - 02.2009
Assistant Manager - IDBI Bank Ltd.
06.2007 - 10.2008
ICFAI Business School - MBA, Finance
Rohilkhand University - Bachelor of Commerce,
IIM-Ahmedabad - Senior Management,