Raquel Rumbos

Chief Financial Officer at Aruba Airlines
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Contact Information
us****@****om
(386) 825-5501
Location
Carabobo State, Venezuela, VE

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Experience

    • Aruba
    • Airlines and Aviation
    • 1 - 100 Employee
    • Chief Financial Officer
      • Aug 2017 - Present

      Driving the company’s overall financial planning, deciding on investment risks while securing appropriate cash flows. Responsible for evaluating fundraising plans for Capex projects. Managing vendors and preparing forecasting reports. Achievements: ● Reporting and forecasting: Improved analysis by route by introducing innovative analytical tools. ● Improved processes in the department: Improving payments to suppliers and service providers to a more dynamic 2 week period. ● Improved overall reputation: Reverting the overall opinion of lessors by effectively communicating recent achievements inprofitability. It allowed for the expansion of the business by incorporating new aircraft to new routes. ● Introduced innovative tax payment processes: Financial and legal risks were minimized through the restructuring of the department in the tax area. Measures allowed the payment of a 2 year old overdue tax debt. ● Fulfillment of overdue (120 days) payment schedules and legal agreements with suppliers and service providers. Guaranteeing flow of operations. ● Introduced Innovative KPIs related to cost per flying hour. This allowed for a more precise cost estimation process and sound business judgment. ● Implemented the provisions account as a good practice in the business, since it allows setting aside cash from profits to cover liabilities, hence improving financial performance. ● Led the company through a difficult year (2018) in which net income Considerably to having positive net income in less than a year period. Show less

    • Switzerland
    • Packaging and Containers Manufacturing
    • 700 & Above Employee
    • Strategic Finance & Treasury Manager (LATAM)
      • Jan 2008 - Aug 2017

      Job description: Leading and supervising all tasks pertaining to accounting and record keeping in compliance with corporate guidelines. In charge of managing cash flow, Bank relations, account payables, taxes, account receivable Achievements: ● Improved collections: From 87.5% to 91% monthly-sales. ● Obtained an “A” as the grade qualification in internal Audit during three (3) years in a row on internal controls. ● Improved accuracy and timing of monthly and quarterly reporting. ● Obtained additional credit lines of US$15M in hard currency from local banks under fierce foreign exchange control. ● Established the Tax Department, with established procedures and properly trained personnel. ● Developed a tax plan for each fiscal year to ensure that company receives all possible fiscal benefits. ● Reduced the dependence of tax advice consultant’s and save cost and expenditure. ● Development of electronic reports and routines in order to comply with all record keeping required by tax regulations: Tax Adjustment, VAT’s Special Books, Withholding Reports, transfer pricing, inventories reports. ● Recovery of Value Added Tax (IVA) arising from excessive tax withholdings.(over US$ 8M annual) ● Obtain authorization of the Tax authorities for management fiscal reports. ● Development of tax training plan for administrative departments, focused in reduction of tax contingencies Show less

    • Venezuela
    • Appliances, Electrical, and Electronics Manufacturing
    • 1 - 100 Employee
    • Tax Coordinator
      • Sep 2004 - Dec 2007

      Last position: Tax Coordinator. Job description: Preparation of Tax Plan for all of the companies in the Group, reflecting the new fiscal schemes and the rationalization of the tax imposed on each company. This included: ● Represent all of the Group companies (6) before National and Regional Tax Authorities (SENIAT, Mayor’s Office, others) and direct actions arising from requests received from them. ● Supervised compliance with all legal tax requirements in order to avoid penalization by fiscal authorities. ● Responsible for Fiscal Credit Recovery and Value Added Tax (IVA) process arising from excessive tax withheld. ● Provide tax and financial advice in tax and accounting procedures to other functional areas. ● Management of micros and work software in Windows. ● Coordinate professional development in tax area for personnel under my supervision. ● Management and supervision of personnel. Personnel supervised: 4. Achievements: ● Reduction of 75% in tax consultant expenditures. ● Regulate, supervise and implement a timely set of accounting books. ● Implement tax audit and control systems to monitor companies’ performance. ● Establish plans for training for personnel under my supervision. ● Prepare a Tax Plan, reflecting new fiscal schemes and the rationalization of the taxes imposed on each company. ● Participation in the development of the new international structure, based on trading activities from Barbados to Venezuela. Show less

Education

  • Escuela Nacional de Administración y Hacienda Pública (ENAHP)
    2003 - 2005
  • Universidad Centro Occidental Lisandro Alvarado (UCLA)
    Degree in Public Accounting

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