Finance Manager Financial Reporting

Bhavna Makwana – CGMA, Finance Manager 078**-***-***; *******.*@***.***

Summary

Seasoned Senior Finance professional, CIMA qualified, an expert in translating financial information for non-financial senior management, enabling stronger business decisions. Keen attention to detail, reliable and enjoy working with people.

Well-rounded experience in all aspects of accounting, audit & finance at mid-senior level. I am looking for the challenge to put my skill set & experience to use for the benefit of the business.

Key strengths include: Analysing and interpreting financial / management accounts to identify root cause of business performance issues; establishing strong relationships across internal and external networks, improving the quality of information received and allowing more accurate financial reporting; identifying potential risks, implementing mitigating controls and reconciliations at key stages of finance processes to promptly highlight, investigate and resolve accounting issues; and streamlining finance function processes, enabling finance teams to deliver monthly reporting requirements with increased accuracy and within shorter timeframes to an organisation.

Key Skills

Financial Reporting

Management Accounting

P&L Analysis

GL Reconciliations

Stakeholder Relationship Management

Budgeting & Cost Control

Project Management

Cashflow Forecasting

Auditor management (internal/external)

Staff Management

Career Highlights

Timely Budget Delivery: Budget deadlines at Enercon were consistently being missed. I organised initial meetings with senior budget holders to understand issues; communicated deadlines, ownership, and actions to them; monitored, controlled data inputs; maintained communication throughout the process; provided detailed guidance and advise, resolved queries promptly. This led to a robust budget delivered on a timely basis.

Cost savings: Challenged results and initiated cost-savings; and conducted variance analysis prior to group submission. Succeeded in meeting submission deadline and delivered £170k savings.

Timely Audit Sign-off: Audit took longer than expected for last few years. Took the initiative to improve audit process. Reviewed ‘prepared by client (pbc)’ list, identifying areas for improvement; delegated sections of work to individual team members, creating specialists; integrated audit requirements into monthly close process; delivered ‘pbc’ information earlier in process; anticipated and resolved queries. Succeeded in reducing number of queries by 50% and completing audit within one month.

Managed Significant Growth: ‘Move With Us’ grew from 12 sub-contractors to circa 200 within 4 years, outgrowing manual CIS submission process, missing HMRC submission deadlines and incurring penalties. As Management Accountant, led the process improvement project. Consulted with HMRC to understand requirements; created and implemented new processes within business; educated internal stakeholders in new procedure and in risks of non-compliance; held individual training sessions; and monitored compliance with process. Succeeded in streamlining CIS submission, meeting HMRC deadlines and avoiding penalties.

Work Experience

Apr’24 to Current – Travelex UK: Senior Finance accountant/analyst – Products (Contract Role)

Key accountabilities

Assist and prepare the management information including bi-weekly cashflow forecasts, mid-month flash, month end management accounts, and external reporting

Assist in developing multi-year plans, annual budgets and in-year forecasts

Assist in developing business cases and challenging assumptions

Assist with internal audit requests

Support annual statutory financial audit for the Product subsidiary accounts

Work closely with offshore group shared services centre to close month end

Operate and develop appropriate financial controls, working closely with Group Control team to evolve the internal control framework

Actively support the Product Finance team and work with them to constantly evolve and improve financial processes and business support

Contribute to the development of the wider Products team through open sharing of ideas and experiences from other organisations to optimise the working environment/activities

Jan’24 – 22 Apr’4 - Unemployed

May’14 – Dec’23: Enercon Services UK Ltd: Finance Manager

Enercon Services install, maintain and service wind turbines, £20m revenues, 200+ staff.

Responsibilities:

Effectively Business Partnered with internal and external stakeholders. In 2023 collaborated heavily with After Sales team and European regional managers in achieving a 3-year plan for WEC project revenues and costs. Estimated revenue budget was for €42.2m for 2024 and FC sales for 2023 of €31.6m.

Developed and managed relationships across the business, providing financial advice and processes.

Regularly interacted with financial controllers internationally, including Finance colleagues from Germany, Belgium, Netherlands, France, and Ireland.

As UK Finance Manager, reported to UK MD, Finance Controlling manager Germany, and Western Europe.

Lead UK Finance team in preparing monthly and annual financial accounting records for management analyses, audits and for Group consolidation.

Manage periodic budgeting process, conducting and presented to management, monthly business reviews, variance analysis, challenging costs, and assumptions, identifying cost-reduction opportunities, and submitting final budgets to Group.

Management Responsible for 3 direct reports, including 2 Purchase Ledger Clerks and 1 Finance Assistant.

Responsible for ensuring finance team meet weekly, monthly, and annual reporting deadlines, producing ‘right-first time’ reporting data.

Responsible for the preparation of annual Audits and liaison with auditors for a timely audit completion.

Monitored 12-month cashflow plan, with a monthly, 3 months forecast to assess liquidity, allowing effective working capital management.

Review key monthly reconciliations, including Balance Sheet; Payroll, Intercompany, Fixed Assets, VAT & Corporation Tax, ensuring reconciling items were challenged and promptly resolved accurately within deadlines set.

Coordinated biannual stock counts of tools and reconciliations to allow for more transparency and tighter controls.

Supervised, coached, and managed finance team, providing strong guidelines, improving team performance, and promoting high standards of delivery to internal and external customers.

Key Achievements:

Promoted from a Finance Manager to a Business Partner, achieving more autonomy and business knowledge.

Achieved an effective Budgeting and Audit process helping save time and money by keeping to deadlines and targets.

Streamlined Enercon UK’s audit process, reducing number of audit queries by 50% and completing audit process within one month.

Resolved potential risk within staff expense process by implementing stronger controls over recording of receipts and expenses, minimising risk, and resolving Internal Audit query.

Jun 2008 to Jul 2013: Move With Us: Management Accountant

Move With Us is a property services company; Revenues £45m 300+ staff.

Responsibilities:

As Management Accountant, reported to Finance Director, with 8 indirect reports, including 2 Management Accountants, 2 Credit Controllers and 3 Purchase Ledger Clerks.

Responsible for reconciliation of revenue / contribution to sales system, and preparation of contribution statement and balance sheet reconciliation for inclusion in board reports.

Analysed overhead accruals / prepayments, including preparation of monthly budget analysis, and supporting variance analysis commentary.

Analysed corporation tax returns, facilitated payments (QIP) and was responsible for CIS Tax management.

Managed annual audit process for team, including review of year-end control account reconciliation and supporting documentation, and liaison with audit staff, resolving audit queries raised.

Completed budget preparation and submission.

Analysed annual returns and ensured statutory accounts filed and distributed correctly.

Monitored submission of VAT returns, completed quarterly reconciliation, arranged payments, produced dividend payment calculations, prepared Tax computations, and arranged related payments within statutory deadlines.

Managed and guided staff, driving improvements across all areas of finance.

Key Achievements:

Succeeded in streamlining CIS submission, meeting HMRC deadlines and avoiding penalties.

Facilitated automated integration of data from eight Excel workbooks directly to Sage reporting system, saving 16 man-hours in upload process.

Implemented process improvements across VAT reporting, reducing time to produce quarterly VAT returns from 2 days to 1.5 days.

Earlier Career

2006 - 2008: Ely Chemical Co, Management Accountant

2000 - 2006: Camlab Ltd, Assistant Accountant

Education & Qualifications

CGMA Qualified Accountant (2013)

AAT Qualified (2001)

1 ‘A’ Level and 5 GCSEs (including English and Maths)

IT Proficiency

Microsoft Office – Excel(Advanced) Word Powerpoint; Power BI

Sage 200 SAP Sun Accounts Oracle Strategic Triffid Weir S6000

Personal Details

Address: Peterborough, PE7 8AY

Driving Licence: Full UK

LinkedIn URL www.LinkedIn.com/in/bhavna-makwana-44104167

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