Rishu Singhania
Chartered Accountant
Kolkata
Summary
Experienced Chartered Accountant (FCA) with a proven track record of 23 years in finance, accounting, auditing, taxation, and commercial roles. Demonstrated leadership skills in developing and mentoring teams to excel in various tasks. Motivated team members to achieve high levels of productivity. Proficient in finalizing accounts in accordance with IND AS and ensuring compliance with SEBI and taxation regulations. Implemented process automation to establish system controls in accounting, reconciliation, and other areas. Recognized for conceptualizing and implementing financial procedures and internal controls to comply with rules and regulations. Skilled in organizing, interpreting, and effectively communicating information to support top management's decision-making process. Played a pivotal role as part of the Zonal Core team for "Smart Mark Down" and "Cost Leadership" initiatives at Future Retail Limited.
Overview
23
23
years of professional experience
4006
4006
years of post-secondary education
2
2
Languages
Work History
Regional Finance Controller – East and Central India
Lifestyle International Pvt Ltd
09.2024 - Current
- Preparing Budgets and keep track of Variances
- Analyze monthly profitability of each store and take action to improve the profitability
- Variance analysis for Sales, margin and different head of expenses of each store as compared to monthly budgets
- Check the Feasibility of proposed New Store by evaluating IRR and Payback period
- Track budgeted Vs actual cost and take corrective actions for variances
- Ensuring statutory compliance and adherence to SOPs
DGM-Finance
Spencer’s Retail Limited
06.2021 - 09.2024
- Prepare and analyze financial statements, ensuring compliance with accounting standards
- Analyze monthly profitability of each store and take steps to improve the profitability
- Monitor Site wise, LOB wise Inventory & suggest plans to make optimum utilisation of Working Capital
- Analyze stock shrinkage and take necessary corrective action with Business team
- Evaluating cost effectiveness and risks of operational processes, activities, policies and systems
- Strict monitoring and review of recognition and Other Income of various category
- Ensuring timely vendor reconciliation, dispute resolution and balance confirmation
- Controlling revenue leakage
- Variance analysis for Sales, margin and different head of expenses of each store as compared to monthly budgets
- Receivables Management – ensuring timely recovery for visibility and other receivable as per TOT agreements
- Payable Management – Ensure that vendor’s claims & Queries are resolved at earliest
- Also monitoring debit balance in vendor ledger and taking action to recover the same
- Ensuring statutory compliance and adherence to SOPs
- Ensuring proper compliance to tax laws, particularly Income Tax, TDS, GST laws
- Leading, training & monitoring the performance of commercial members to ensure timely and efficient completion of task
- Coordinating statutory and internal auditor and preparing ATR
- Spencer’s Retail Limited is a Listed company with 160 outlets with annual turnover of Rs 2500 crore
Regional Commercial Head
Future Retail Limited
04.2006 - 06.2021
- Regional Commercial Head for “Heritage Fresh” - Telengana and Andhra Pradesh from July 2019 to June 2021 (150 stores having then annual turnover of Rs 700 crore) and
- Regional Commercial Incharge of Big Bazaar - East ( 82 outlets stretched in 8 states, annual business of Rs 4000 Crore )
- Analyze the monthly profitability of each store
- Preparing monthly budgets for stores at the beginning of the financial year
- Variance analysis for Sales, margin and different head of expenses of each store and live kitchen as compared to monthly budgets
- Working capital Management – Maintaining a balance between funds available, payables and stocks
- Receivables Management – ensuring timely receipt from various customers including credit card, recovery for visibility and other receivable as per TOT agreements
- Payable Management – Ensure that vendor’s claims & Queries are resolved at earliest
- Also monitoring debit balance in vendor ledger and taking action to recover the same
- Chart out Promotion Effectiveness towards the profitability and suggest future plans
- Track the New Project efficiency; track budgeted Vs actual Capex cost and check reason for variances
- Negotiate with business associates for additional revenue (SIS/ ATM /IBS etc)
- Ensuring statutory compliance and adherence to SOPs
- Ensuring proper compliance to tax laws, particularly Income Tax, TDS, GST laws
- Leading, training & monitoring the performance of commercial members to ensure timely and efficient completion of task
- Provide commercial training to participants from other department and new joiners
- Ensuring statutory compliance
- Coordinating statutory and internal auditor and preparing ATR
- Evaluating cost effectiveness and risks of operational processes, activities, policies and systems
Ajit Kumar & Co.
01.2002 - 03.2006
- To ensure Income Tax, ROC and other statutory compliance
- Conducting Internal Audit and Management Assurance Audit as per the scope
- Finalization of accounts, including ensuring compliance with various statutory requirements and accounting standards issued by ICAI
- Audit work – Statutory, Internal, Tax Audit, Bank Audit, Stock Audit etc
- Compliance to Company Law matter Requirements
- Handling Taxation matters under Income tax act and Service tax act
- Coordinating with client’s senior management on critical issues & completing deliverables within agreed deadlines
- Lending insights and giving recommendations in the formation of SOPs (Standard Operating Principles) for the process of different financial transaction for smoother operation and better internal control
Education
DISA - Information System Audit
The Institute Of Chartered Accountants Of India
04.2001 - 01.2006
Chartered Accountancy -
The Institute Of Chartered Accountants Of India
B. Com(Hons.) -
University of Calcutta
Skills
- Financial Planning/Analysis
- Compliance Management
- Process Automation
- Internal controls
- Commercial Operations
- Working capital management
- Cost Optimization
- Inventory monitoring
- Audit Operations
- Vendor Management
- Team Building & Leadership
Training
- Intelligent Teams and Networks, Emeritus Institute of Management, Singapore, 2017
- Articleship from "Ajit Kumar & Co" from 1998-2001
Timeline
Regional Finance Controller – East and Central India
Lifestyle International Pvt Ltd
09.2024 - Current
DGM-Finance
Spencer’s Retail Limited
06.2021 - 09.2024
Regional Commercial Head
Future Retail Limited
04.2006 - 06.2021
Ajit Kumar & Co.
01.2002 - 03.2006
DISA - Information System Audit
The Institute Of Chartered Accountants Of India
04.2001 - 01.2006
Chartered Accountancy -
The Institute Of Chartered Accountants Of India
B. Com(Hons.) -
University of Calcutta
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