Experience

Bank Alkhair B.S.C. (c) (formerly Unicorn Investment Bank)

• Bahrain
• Investment Banking
• 1 - 100 Employee

• Chief Financial Officer

  • Jan 2021 - Present

• Chief Business Development Officer

  • Oct 2020 - Jan 2021



Zaggle

• India
• Software Development
• 200 - 300 Employee

• Chief Financial Officer & Head Expense Management Business

  • Apr 2019 - Sep 2020

  • Established new use cases for the expense management platform and white labeled offerings• Drove the closures on Strategic Relationships with Banks, Networks and Partners• Got the networks to reduce price and incentives with sign on upfront payments• Closed a white labelled deal with a leading player for the middle east market• Devised the Merchant tie-up strategy to address the clamp down on Merchant Discount Rate• Formulated the strategy to turnaround the distribution business and make it profitable• Secured additional credit lines from vendors • Negotiated Term sheets for fundraise and streamlined the finance function



TimesofMoney (Network International)

• Chief Financial Officer

  • Jul 2014 - Mar 2019

  • Created & Crystalized Shareholder value through the exit events by managing stakeholders• Accomplished the seller & buyer due diligence both legal & financial by resolving all issues.• Obtained licenses from Regulators in the US, UK, Australia and India. • Obtained the best ratings during first time examinations and audits by US regulators• Devised the loss leader strategy wining the reverse auctions with SBI and Google• Achieved Nil Repudiation & Charge Backs through the Compliance & Product Approval process• Planning, Budgeting, Forecasting, Resource Allocation & Finalization of Accounts across countries • Tax compliance, computations & return filings, direct & indirect (GST) in India, US, Australia, UK • Devised tax positions resulting in saving of close to $ 3 Million USD• Commercial Negotiations, Legal agreements finalization, Board & General Meetings• Financial, Secretarial, Regulatory, Management Reporting, Statutory, Legal & Tax compliance• Ensured liquidity & adequate funding to increase market share in the face of competition• Achieved lowest attrition rates for my team by developing their business and technical knowledge• Achieved release of USD 5 M from Bond issuers in the US through negotiations • Tracked performance against budgets and monitored cash flows with variance analysis• Responsible for raising funding of USD 8 Million overseas • Structured the funding as interest free loan & quasi capital to meet net worth requirements• Crunched time to 4 hours for remittances by providing working capital & increasing market share• Conceptualized outward remittances as a strategy for customer acquisition for future remittances• Obtained Policy Exemption from RBI to open Dollar account for Indian entity• Demerged the remittance business and obtained approval from the NCLT• Negotiated and closed on contractual agreements with clients in India and overseas



Times Internet(TimesofMoney)

• Head Business Operations & Finance

  • Aug 2008 - Jun 2014

  •Achieved turnaround of the company through cost savings & wiping out all accumulated losses.•Established natural forex hedge for currency fluctuations & mitigating forex risk at nil cost•Saved 5 million USD in service tax/GST through the export of services position supported by order•Ensured no co-mingling of customer funds prior to nodal account framework as per RBI guidelines•Application of knowledge of economic & accounting principles, financial markets and services•Financial management, control, analytical and business performance analysis skills•Identification, Assessment, Quantification, Mitigation and Escalation of Risk with Corrective Action •Led interactions with stakeholders to ensure client expectations are delivered on time•Obtained certification and fulfilled compliance requirements of different associations•Implementation of projects within schedule, cost and efforts, technological constraints•Managing program level reporting and prioritization; resolving escalations•Improved Margins through process improvements for the organization as a whole.•Program level delivery of existing new Payment Solutions, particularly Fraud & Financial Risk.•Achieved operational performance improvements - example fraud prevention•Responsible for the Internal Audit, Admin, Compliance and Legal functions of the Company •Reduced tax impact and utilized all carry forward losses saving on cashflows•Reduced tax exposure by ensuring arms-length pricing for all related party contracts•Complied with filing of tax returns in US,UK,Australia & India with transfer pricing returns.•Devised and completed buyback as a tax efficient way of returning capital back to the shareholders •Proposed and Completed the maiden dividend (193%) declared by the company



Citigroup (TimesofMoney)

• Head - Managed Services/Alliances

  • Apr 2005 - Jul 2008

  •Pitched, negotiated & closed deals with Citibank, Deutsche Bank, Barclays, Axis, IndusInd •Conceptualized, partnered, built and launched the Platforms Business Model •Turned around the Managed Services Vertical to profitability–highest operating margins LOB;•Introduced pricing/commercials models revenue share, fixed plus variable, minimum guarantee•Created recurring revenue streams for the organization by identifying business opportunities •Resolved objections of internal stakeholders of customers for integrations & account management•Addressed organizational escalations by ensuring delivery to customers and stakeholders.•Met client requirements that include some of the biggest financial institutions in India;•Increasing volumes and transactions beyond that of the internal franchise Remit2india•Increased the Portfolio from 1 % of total revenue to 20 % of total revenue of the company •Pioneered first cross border clients other than money transfers to India •Developed the agency model for www.remit2india for banks in response to competition•Formulating transition related Business documents & conducting Tollgate discussions for Sign-Offs•Acclaimed as Praetorian Cohort for outstanding contribution to TimesofMoney as Head of Alliances



Iflex/Citigroup (TimesofMoney)

• Product Sales Manger

  • Apr 2002 - Mar 2005

  •Developed the investments platform for buying & selling of mutual funds online.•Launched Tax In 20 Minutes – online tax preparation and return filing platform•Achieved Doubling of Transactions quarter on quarter•Developed Values Added Offerings based on customer need and feedback, •Created a new business line thereby increasing share of customer wallet and retention. •Pioneered an additional pay mode for customers – CIP – customer initiated payment.•Structured the sales team with defined goals & performance linked incentives & compensation•Analytics relating to website optimization, merchant & consumer performance & segmentation•Improved profitability using service as key differentiation •Achieved greater customer engagement through personalized calling to hand hold customers•Recognized as the Sculptor of the Relationship Management Center for TimesofMoney



Advantage E-Accounting (ICICI Venture & Haribhakti)

• Senior Business Development Manager

  • Oct 2000 - Mar 2002

  •Being a part of, and leading Offshoring/ Change Management projects for leading Banks;•Leading end to end migration projects from Opportunity identification, Due Diligence, Solution Identification, Solution Design & Documentation to Implementation & Stabilization to the local site;•Acquiring and engaging appropriate resources viz. People, Product, Process, Technology and Infrastructure as per the project specific requirements [within the predefined budgeted cost];•Institutional sales and installations at client locations for www.munishikaka.com •Pioneered development of online personal tax calculation & filing of tax returns–“Tax In 20 Mins”•Successfully sold to large Corporates and tied with up large private sector banks and online portals



Arthur Andersen

• Senior Consultant

  • May 1993 - Dec 1997

  • Investment advice based on client requirements• Finalization of corporate and personal tax returns and submissions to the appellate authorities • Developing the margin systems & monitoring exposure to curtail risks.• Obtained approvals from Regulatory Authorities - RBI, SEBI, Central, State, local bodies, stock exchanges, etc • Obtained Nil withholding and favorable assessment orders for clients • Extensive liaison with client's bankers & RBI officials for the purpose of remittances.• Advising clients on structuring and tax planning issues.• Identifying investment and divestment opportunities for clients, liaising with officials from SEBI and FIPB.