HITESH PATIL
Chartered Accountant, US CPA
Mumbai
Summary
Accomplished finance professional with over 7 years of experience, showcasing strong leadership, strategic planning, and problem-solving skills. Demonstrated expertise in financial planning, budgeting, and forecasting, facilitating data-driven decision-making and strategic insights. Possessing a deep understanding of accounting standards and financial principles, with a proven history of collaborating with cross-functional teams to provide thorough financial analysis and drive business objectives forward.
Overview
8
8
years of professional experience
Work History
Deputy Manager - Financial Planning & Analysis
LH Global Hub Services
12.2022 - Current
- Independently lead annual budgeting, forecasting, and rolling forecasts for Global service hub business segment, ensuring alignment with corporate objectives and agility in response to evolving market conditions.
- Act as a key financial advisor to business leaders, providing strategic insights and actionable recommendations that contributed to a $2M increase in bottom line and a 3% growth in overall profit.
- Partner with cross-functional teams (operations, sales, marketing) to drive key commercial decisions and optimize costs, resulting in $500K in savings.
- Performing in-depth analysis of financial statements, key performance indicators (KPIs), and business metrics. Identify trends, opportunities, and risks, and present findings to senior management.
- Oversee monthly and quarterly financial close, ensuring compliance with HARP (IFRS version for Holcim Group) and other relevant reporting standards.
- Create and manage accurate cash flow forecasts to support strategic planning and decision-making. Analyze historical cash flow trends to identify patterns and enhance future projections.
- Manage financial consolidation using advanced tools to ensure accurate, timely reporting across departments and entities.
- Ensure compliance with GAAP accounting standards, maintaining adherence to both internal and external reporting requirements.
Financial Planning Analyst & Reporting
Innovassynth Technologies (I) Ltd
05.2021 - 11.2022
- Prepare financial statements in compliance with IND AS and India GAAP, including monthly consolidated balance sheets and profit & loss statements for group companies.
- Lead production of insightful monthly and quarterly management reports and ad hoe analyses, ensuring timely delivery under strict deadlines.
- Generate sales performance and margin reports, conducting thorough P&L analysis to assess financial health.
- Perform detailed monthly reviews and gross margin analysis by customer and segment to identify trends and opportunities.
- Develop and maintain financial models, analyzing margins, and preparing budgets, forecasts, and variance analysis between actuals and projections.
- Manage foreign exchange risk, employing hedging and netting strategies to mitigate exposure to currency fluctuations and interest rate changes.
- Maintain strong bank relations, keeping financial institutions informed of the company's financial position, funding needs, and future projections.
- Report directly to senior management with a monthly financial dashboard, providing insights on market conditions, funding issues, returns on investment, and cash-related risks.
- Collaborate with IT/Support teams to develop and implement new SAP system functions, reducing manual processes and enhancing integration.
- Lead cash forecasting efforts, compiling data across departments to produce weekly and monthly cash forecasts that inform financial planning.
Articled Assistant
R.R. Jakhotia and Co.
03.2017 - 03.2020
- Prepare and manage accurate financial statements (balance sheets, profit & loss statements, cash flow statements) for 100+ clients across industries.
- Oversee tax planning and compliance, including the preparation and filing of tax returns totaling $10 million in transactions.
- Ensure full compliance with financial regulations, accounting standards, and internal policies for clients in construction, specialty chemicals, aviation, and petroleum sectors.
- Optimize tax strategies to ensure adherence to tax regulations while identifying opportunities for tax savings.
- Manage relationships with banks, tax authorities, and other external agencies, providing clients with necessary support and guidance to meet their financial and regulatory needs.
- Develop and manage financial models, analyzing margin trends and preparing budgets, forecasts, and variance analyses to compare actual performance against projections.
Education
US CPA -
American Institute of Certified Public Accountant
North Dakota 04.2001 -
Master of Commerce -
Mumbai University
Mumbai 04.2001 -
CHARTERED ACCOUNTANT -
Institute of Chartered Accountants of India
Mumbai 04.2001 -
Skills
- Financial reporting standards
- Budgeting & Forecasting
- Financial analysis and reporting
- Financial management expertise
- Financial Accounting
- Business case analysis
- Cost Allocation
- Project Accounting
- Financial Software
- Financial Statement Analysis
- Cash Flow Analysis
- Financial reporting Standards
- Quantitative Analytics
- Communication
Timeline
Deputy Manager - Financial Planning & Analysis
LH Global Hub Services
12.2022 - Current
Financial Planning Analyst & Reporting
Innovassynth Technologies (I) Ltd
05.2021 - 11.2022
Articled Assistant
R.R. Jakhotia and Co.
03.2017 - 03.2020
US CPA -
American Institute of Certified Public Accountant
04.2001 -
Master of Commerce -
Mumbai University
04.2001 -
CHARTERED ACCOUNTANT -
Institute of Chartered Accountants of India
04.2001 -
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