Pradeep Sabharwal
Chartered Accountant
Gurgaon,Haryana
Summary
Highly accomplished, results oriented Chartered Accountant having more than 22 years of progressive experience in operational accounting, strategic business planning, budgeting & forecasting, ensuring compliances, managing banking relationships, collaborating with operations, board members and external stakeholders to drive towards organizational vision. Grew working in multinational corporations in Oil & Gas industry, exposed and experienced working globally with cross cultural teams. Ability to streamline financial reporting and create systems designed to improve adherence to regulations and adherence to good corporate governance practices. Collaborative communicator and Board member with experience in building relationships with financial institutions, stakeholders and external organizations.
Overview
23
23
years of professional experience
5
5
years of post-secondary education
Work History
Regional Director Accounting (Asia Operations)
Lummus Technology India Private Limited
Gurgaon
07.2020 - Current
- Responsible for operational finance and statutory compliances of the group in Asia (annual spend of ~US$ 300Mn).
- Designed and implemented organizational structure in Middle East and South East Asia for effective business presence in the region post separation from McDermott. These offices serve Clients contributing 50% of Group Revenue of US$ 900 Mn.
- Strategic review, formulation and implementation of group financial policies and procedures to ensure effectiveness and efficiency in operations. Instilling collaboration and ownership mindset across functions for achievement of budgetary goals and financial targets. Saved ~US$ 2 Mn in operational expenses by monitoring actuals and communicating with stakeholders.
Senior Manager Asia Pacific – Project Execution & Delivery (PED)
McDermott Asia Pacific Sdn. Bhd.
Kuala Lumpur
08.2019 - 06.2020
- Company Overview: Kuala Lumpur, Malaysia
- Responsible for operational finance and cost control function for Engineering (US$ 100 Mn) and Fabrication facilities (US$ 25 Mn.) of the group in Asia Pacific.
- Provide and drive financial vision to the operations leads and facilitate setting targets and goals both from short- and long-term view.
- Ensured preparation and dissemination of timely monthly financial statements, Cash flow forecasts, management reports and other schedules to stakeholders for effective budgetary controls resulting in reduction of operational cost by US$ 3-4 Mn.
- Established process for stringent review of timesheet reports for effective manpower planning (Trainings, Leave Management, hiring, agency vs staff decisions) resulting in increased utilization levels from 80-85% to 90-95% in Indian Engineering office.
- Coordinated with treasury for hedging of foreign exchange risks in APAC.
- Strategic review, formulation and implementation of management and financial policies and procedures to ensure effectiveness and efficiency in operations.
Senior Manager Asia Pacific – Statutory & Tax Accounting
McDermott Asia Pacific Sdn. Bhd.
Kuala Lumpur
11.2018 - 07.2019
- Leading Statutory & Tax Accounting function for group in APAC.
- Responsible for ensuring tax compliances and statutory filings for 20 odd legal entities for the group in APAC.
- Managing key relationship with Auditors to facilitate local statutory filings as per local GAAP.
- Implemented compliance calendar and repository which enhanced timely reporting and payments of Tax withholdings, Advance payment of taxes, indirect taxes like VAT, GST etc.. enhancing compliance and elimination of interest and penalties.
- Coordination with legal team on secretarial compliances.
- Coordination with tax consultants (Deloitte, PwC, local consultants) for tax assessments, transfer pricing compliant documentation and preparation of reports in various jurisdictions.
- Transition of function from being decentralized to Centralized location in Chennai, India bring efficient and cost optimization.
Financial Controller
CB&I India Private Limited
Gurgaon
04.2012 - 10.2018
- Responsible for Finance function of CB&I Group companies in India.
- Joined to establish finance function and steer compliances from labour, establishment, taxation and Corporate Governance perspective for 3 legal entities in India.
- As part of management team was responsible for growing India operations by providing data and its analysis for strategic decision making. Operations grew from 100 to more than 1000 over a period of 4 years in terms of headcount and to $ 50 mn in terms of revenues.
- Established finance team of 8 qualified accountants catering to accounting, taxation and treasury functions.
- Devised and got approvals for development of India office as a Shared Service Center for finance/accounting activities.
- Actively involved in devising tax efficient structures for delivery of projects of CB&I group companies with Indian clients.
- Transfer pricing policy and documentation was the key achievement, defended historical tax positions with favorable decisions from appellate authorities for already established legal presence and clean tax history for the subsidiary. Saving a few million dollars in tax, interest and penalty outgo.
Global Financial Accounting Manager
Bechtel India Private Limited
Gurgaon
04.2011 - 03.2012
- Oversee Management Information department responsible for preparation and analysis of various reports for local and overseas business line management.
- Assist in finalization of budgets and pricing of services by New Delhi Execution Center (effective headcount of 1,000) to other entities of Bechtel Group.
- Controller function for Project Offices of Bechtel Group Company running projects worth US$ 500 Mn.
- Project Manager for automation of process for conversion of USGAAP books maintained on Oracle to Indian GAAP for local statutory reporting.
Manager Accounting
Fluor Daniel India Private Limited
Gurgaon
03.2007 - 03.2011
- Oversee and manage timely and accurate preparation of corporate income tax, service tax, tax withholding and Value Added Tax returns.
- Oversee payroll function and compliances there under.
- Oversee the conversion of USGAAP books maintained on SAP to Indian GAAP and their audit as per local statutory requirements.
- Responsible for maintaining intercompany agreements and assisting in finalization of pricing for New Delhi Execution Center.
- Collaborate with upper management to identify, analyze, and utilize opportunities to minimize tax burden on company, including performing accurate and timely tax research and planning.
- Responsible for providing information and finalization of Transfer Pricing documentation for the Indian entity in consultation with tax consultants.
- Handled end to end process of buyback of shares by the Indian entity.
- Assist with tax assessment proceedings at various levels of assessing authorities, including providing analysis and information to auditors, lawyers, and consultants.
- Train staff to ensure accurate completion of quarterly filings and compliance with reporting requirements.
Senior Section Supervisor
Bechtel India Private Limited
Gurgaon
05.2006 - 02.2007
- Oversaw the efforts of two teams; one handling accounting and project payables of four entities in Middle East and other general accounting of domestic entity.
- General accounting of domestic entity included adherence to statutory requirements for tax withholdings, service tax, local area development tax (LADT), fringe benefits tax.
- Statutory audit, transfer pricing audit, bank reconciliations, general ledger account reconciliations/ schedules were added responsibilities of the team.
- Project payable for two mega projects in Abu Dhabi were handled out of New Delhi office.
- Added responsibility of providing support to process migration team-captive finance BPO activities.
Financial Analyst II
Fluor Daniel India Private Limited
Gurgaon
09.2002 - 04.2006
- Supervision of various financial processes undertaken on behalf of global entities within the Fluor Corporation.
- Instrumental in migration of various financial processes from US and UK encompassing General Accounting, Payroll accounting, Financial Planning and Analysis, both remotely and on site.
- Part of the SAP conversion team and handled the UK SAP conversion along with other team members.
- Part of the strategic group handling the migration of financial processes from various locations and training of newly hired staff.
- Reported to Regional Finance Controller and was responsible for reporting monthly overheads and project financials.
- Accountable for the financial reporting as well as management reporting for five entities in the South East Asia region.
Education
Chartered Accountant -
Institute of Chartered Accountants of India
India 04.2001 - 01.2003
Bachelor of Commerce (Honors) -
University of Delhi
New Delhi 07.1992 - 06.1995
Skills
- Planning
- Budgeting
- Forecasting
- Strategic Business Planning
- Instilling Financial vision
- Discipline
- Statutory Compliances
- Banking Relationships
- Tax optimization
Personal Information
Date of Birth: 12/15/74
Prior Experience - Description
The mandatory training period of three years (June 1994 to July 1997) was spent with B. K. Shroff & Co., B. Aggarwal & Co and Hindustan Lever Limited, which laid down the core values of determination, perseverance and drive for effective results in my professional life. The relentless hours put with the professionals in these companies exposed me to internal audits, statutory audits, tax audits, accounting issues, taxation and intricacies of auditing and getting audited. Rao & Ravindranath, Chartered Accountants provided me an excellent platform for getting into the more practical aspects of accounting and taxation. This was followed by a position with Zip Telecom Limited in commercial aspects of business exposing me to hardcore accounting, planning and compliance issues. Mahindra & Mahindra Limited (Transport Solutions Group), New Delhi gave me insights in operational aspects of business with planning the working capital requirements, credit monitoring, coordinating vendor payments, setting up various MIS reports for operational people to provide required information on timely basis for the management to take effective business decisions. The leaders in these organizations and the professionals, with whom I had the privilege to work or interact with during the period, have helped me always imbibe a culture of adherence to deadlines and at all costs without compromising on the quality aspects of work.
Accomplishments
Designed and implemented an organizational structure to establish a robust business presence, optimizing operational efficiency in Middle East and South East Asia. Establishing local presence in form of Branches and subsidiaries covering more than 45% of group revenues.
Grew office from scratch and built finance team, incorporated compliance culture across organization catering to revenues of US$ 50 Mn.
Timeline
Regional Director Accounting (Asia Operations)
Lummus Technology India Private Limited
07.2020 - Current
Senior Manager Asia Pacific – Project Execution & Delivery (PED)
McDermott Asia Pacific Sdn. Bhd.
08.2019 - 06.2020
Senior Manager Asia Pacific – Statutory & Tax Accounting
McDermott Asia Pacific Sdn. Bhd.
11.2018 - 07.2019
Financial Controller
CB&I India Private Limited
04.2012 - 10.2018
Global Financial Accounting Manager
Bechtel India Private Limited
04.2011 - 03.2012
Manager Accounting
Fluor Daniel India Private Limited
03.2007 - 03.2011
Senior Section Supervisor
Bechtel India Private Limited
05.2006 - 02.2007
Financial Analyst II
Fluor Daniel India Private Limited
09.2002 - 04.2006
Chartered Accountant -
Institute of Chartered Accountants of India
04.2001 - 01.2003
Bachelor of Commerce (Honors) -
University of Delhi
07.1992 - 06.1995
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