Positive Attitude Towards Work

Positive attitude towards work

I am the go to person for any meaning full initiative given by sincerity, hardwork, adherence to timelines, forthright; never say no, quick action. I see every task as learning opportunity to contribute whether it means working for long hours. Since I am in a middle management role, the lot of opportunities I got is related to implementation of projects which had far reaching positive contribution to the organisation. Seamless execution of these opportunities helped me to learn a lot.

I have got lot of opportunities in Corporate Finance. I was part of the team which worked upon the merger of Max Life with HDFC Life to create the largest and most profitable Private Life insurer in India. My contribution in the transaction was doing valuation benchmarking with peers; detailed business case for board; Structuring; Valuation & diligence exercise; performa financials of merged entity; finalisation of scheme of arrangement & meeting with investors to seek their support for the transaction.

One year back we also concluded the demerger exercise; this idea was conceived in ISB. The rationale for the demerger was to provide structural clarity to the investors which have also increased the group market cap by 3x to Rs 15,000 Cr. My role in the transaction was preparing the split financials; finalisation of scheme of arrangement and preparing information memorandum document for the listing of demerged entities

Strong domain knowledge of Corporate Finance & Analytical Skills

I have strong domain knowledge of corporate finance in terms of corporate restructuring (Merger, Demerger, acquisitions, Divestments), fund raising (QIP, Preferential placements, CCDs, NCDs & Warrants), Investor relations, Treasury Management, Financial reporting & controls, Business Planning & Strategy. I have independently handing the Financial & Management reporting including preparing deck for Audit Committee or other sub-committees. Given my role I have worked with cross functional team within the Group companies. In my IR role I had close interactions with business strategy & senior leadership team (CEO/ CFO’s).Since I was part of Corporate Finance team I got the exposure of various businesses such as Life Insurance, Healthcare, Health Insurance, Senior Living, Speciality Films, Real Estate, Hospitality, Start up Investments. I believe i can contribute positively to the class given my exposure in corporate finance and business knowledge across industries.

Within the same function my role has evolved from MIS to Financial & Management Reporting, Business strategy & Analytics, Treasury management, Merger & Acquisitions & Investor Relations. I has been given promotion almost every 2nd year, moved from management trainee to DGM Finance. I have also been received the Chairman award in 2013. I am also been sponsored by company for ISB which in itself is a big achievement

Initiative

I have always volunteered myself to learn new things. When I joined Max, the company was in growth phase, I got lot of opportunities to streamline the processes and framework. In my early days I used to work on monthly MIS report, it was a tedious task as I use to prepare 80-100 page documents on monthly performance. I took the initiative to simplify the report to 10-15 page document, by preparing monthly/quarterly dashboard having key insights on what went well and what need focus, key performance indicators on financial & operational performance and key risk and opportunities.

Based on my performance I was given additional responsibility to handle financial reporting and controls in 2008. When I took over the reporting process there was no standard templates for consolidation. I worked upon to streamline the financial reporting process by preparing consolidate chart of accounts, standardised template and closing process checklist. This helped us to reduce the closing process turnaround time by 2 days. Due to inherent security issues in excel file, in 2013 I also lead the transition from excel to system based consolidation process by implementing the Oracle consolidation tool Hyperion. With help of Deloitte our implementation partner we were able to roll out the new system within six months. I also provided training and support to our team and the users across the group companies.   Further to improve the internal controls for financial reporting in 2014, I reviewed and updated the existing finance processes, added 4 new SOPs (Consolidation, budgeting, period close and impairment)

In 2014, the profile was further enhanced, given the responsibly to manage the treasury investments of Rs 500 Cr. I reviewed the existing treasury policy and proposed few changes to get more flexibility while investing to optimise the return on portfolio and also ensure the capital protection. The proposed changes helped company to generate additional investment income of ~Rs 2 cr annually

In 2015, I took the initiative to discuss with my manager about my growth and career progression. My manager committed that in next 9-12 months we will induct new team member who can take your current role and you can move from operational finance to strategic finance role. I started handling Merger & Acquisitions, Fund raising, Restructuring, Investor Relations and Growth Opportunities. I worked upon the mega restructuring exercise, the demerger of Max group into three listed hold cos. My contribution in the transaction was preparing split financials for the demerged and the resulting companies, finalisation of scheme of arrangement, listing of demerged entities, collaboration and co-ordination with internal & external stakeholders (Creditors, lenders, auditor & regulator). Also implemented the Shared service framework, to charge back the operating entities based on the time spent, this led to recovery of Rs 30-35 Cr annually.

In 2016, I was part of the team worked upon merger deal between Max & HDFC Life to create the largest private life insurance company. I was supporting my manager and he was leading the transaction and responsible for the structuring, commercial negotiations and finalization of definitive agreement. My responsibilities on this transaction involved from preparing a concept note on the transaction, benchmarking valuations with peers, preparing detailed business case for board, support in due diligence and valuation exercise, finalisation of scheme of arrangement, performa financials of merged entity, meeting with Shareholders/ proxy firms to explain the contours of the deal and seeking for their support for postal ballot, support legal & secretarial team in filing application and handling queries from SEBI, CCI & IRDA.