Wajid Memon
Vasai, Mumbai
Summary
Finance Manager | Shipping Finance | Treasury & Cash Management | DA-Desk / PortPayables | 18+ Years in Maritime Payments & Operations | Mcom and LLB
Overview
1
1
Certification
19
19
years of professional experience
Work History
Senior Manager – PortPayables
Marcura India Services Pvt Ltd (Part of Marcura Group)
Mumbai
03.2015 - Current
- Managed end-to-end Shipping Finance operations, including Proforma Disbursement Accounts (PDA), Final Disbursement Accounts (FDA), vessel funding, balance processing, treasury operations, cash flow management, and financial settlement for global vessel port calls.
- Reviewed and validated Proforma Disbursement Accounts (PDA), ensuring timely funding and coordination with ship owners, principals, charterers, and port agents to support uninterrupted vessel operations.
- Processed and reconciled Final Disbursement Accounts (FDA) by validating actual port expenses, investigating variances, processing balance refunds and additional funding requests, and ensuring timely financial closure.
- Managed treasury operations supporting USD 17+ billion in annual cross-border payments across 950+ global bank accounts, ensuring liquidity management, cash flow optimization, and timely settlement of vendor and principal obligations.
- Supervised end-to-end Accounts Payable (P2P) processes, ensuring accurate invoice verification, payment authorization, vendor reconciliation, and timely settlement of port expenses, agency fees, bunker suppliers, terminals, pilots, tug operators, and other maritime service providers.
- Performed bank reconciliations, ledger scrutiny, account analysis, balance sheet reconciliation, and maintained robust financial controls to ensure accuracy, transparency, and audit readiness.
- Worked closely with finance teams to support IFRS-based financial reporting, month-end and year-end closing activities by providing treasury, payment, reconciliation, and financial data.
- Possess strong knowledge of Indian Taxation, including GST, TDS, Income Tax, withholding tax, vendor tax compliance, and statutory requirements, ensuring compliant financial processing.
- Supported Deloitte-led ISAE 3402 Type II audits by coordinating audit walkthroughs, preparing process documentation, providing transaction evidence, responding to auditor queries, and ensuring compliance with internal control frameworks.
- Developed, reviewed, and enhanced Standard Operating Procedures (SOPs), strengthening governance, risk management, internal controls, and operational efficiency.
- Ensured compliance with AML, Sanctions, KYC, banking regulations, corporate governance policies, and internal financial controls while processing high-value international transactions.
- Collaborated with ship owners, principals, charterers, global port agents, banks, auditors, and internal stakeholders to resolve operational and financial issues while maintaining exceptional service standards.
- Led and mentored cross-functional teams, established KPIs, improved operational efficiency through automation and process improvements, and supported business continuity across global operations.
Team Leader - PortPayables (Procure-to-Pay / P2P)
DA-Desk(Part of Marcura Group)
Dubai
04.2008 - 02.2015
- Handle the PDA, FDA balances, cash to master, vendor & Bunkers payments for Shipping clients
- Executed international payment operations, managing cross-border transfers
- Performed bank reconciliations, ledger reviews, and accounts receivable/accounts payable management for vessel operators.
- Ensured compliance with AML, KYC/CDD/EDD, and global sanctions regulations, escalating discrepancies as necessary.
- Collaborated on system enhancements to increase payment visibility and operational efficiency.
- Supervised teams to uphold service level agreements and maintain operational excellence.
- Ensure timely processing of supplier invoices in accordance with contractual terms, company policies, and approval workflows.
- Oversee vendor onboarding, master data maintenance, and payment validations to minimize operational and fraud risks.
- Monitor payment due dates and optimize payment schedules while maintaining healthy supplier relationships.
- Resolve invoice discrepancies, payment exceptions, duplicate payments, and supplier queries in collaboration with Procurement, Finance, and business stakeholders.
- Perform supplier statement reconciliations and resolve outstanding balances.
- Drive automation and continuous improvement initiatives within the P2P process to enhance efficiency and increase Straight Through Processing (STP).
- Produce P2P operational reports, KPIs, ageing analysis, payment forecasts, and management dashboards.
Accounts Executive
ICICI Prudential Mutual Fund(AMC)
Mumbai
05.2007 - 03.2008
- Performed routine accounting tasks, including comprehensive management of Profit & Loss statements.
- Executed internal audits, cash handling, and bank payment reconciliations.
- Scrutinized debtors and creditors ledgers to enhance outstanding recovery processes.
- Processed salary-related statutory payments, including PT, PF, and ESIC.
- Recorded expenses for AMC and mutual fund schemes per board directives.
- Managed remittances to parent company while reconciling payments received.
- Conducted monthly TDS and service tax reconciliations, ensuring timely returns submission.
Education
LLB - Mumbai, India
University of Mumbai
Mumbai, India06-2025
Masters - Finance and Accounting
University of Mumbai
Mumbai, India01-2013
Bachelor - Commerce
University of Mumbai
Mumbai, India01-2007
Skills
- Treasury Management & Vessel Accounting
- Port Disbursement Accounts (PDA) & Final Disbursement Accounts (FDA)
- Ship Agency Accounting & Principal Accounting
- Cash Flow Management & Budgeting
- Accounts Payable (P2P) & Bank Reconciliation
- Financial Reporting, IFRS, Indian Taxation, GST, TDS, Income Tax
- Audit Deloitte ISAE 3402 Type II
- Internal Controls, Risk Management & Vendor Management
- Shipping Operations & Maritime Finance
- Treasury Operations, Cross-border Payments & Foreign Exchange
Certification
- ICA Certificate in Anti-Money Laundering, International Compliance Association.
- TRACE Anti-Bribery, TRACE.
- Payment Systems, SWIFT Messaging, and ISO 20022.
- Attended various training sessions given by Deutsche Bank and Citi Bank on global transaction processing.
Languages
English
Proficient (C2)
C2
Hindi
Proficient (C2)
C2
Marathi
Intermediate (B1)
B1
Accomplishments
- Awarded the Innovation Catalyst.
- Awarded various individual performance bonuses in Marcura.
Timeline
Senior Manager – PortPayables
Marcura India Services Pvt Ltd (Part of Marcura Group)
03.2015 - Current
Team Leader - PortPayables (Procure-to-Pay / P2P)
DA-Desk(Part of Marcura Group)
04.2008 - 02.2015
Accounts Executive
ICICI Prudential Mutual Fund(AMC)
05.2007 - 03.2008
LLB - Mumbai, India
University of Mumbai
Masters - Finance and Accounting
University of Mumbai
Bachelor - Commerce
University of Mumbai