A Group Financial Controller mandated with strengthening the controlling function, improving profitability and leveraging synergies.
A very large well and diversified Indian business group, with operations in more than 60 countries, looking to strengthen its Finance function, as it continues on its growth journey amidst a very challenging and competitive environment.
Details about position
Client: Shapoorji Pallonji Group
Mandate Position: Group Financial Controller
Shapoorji Pallonji Group is a well-diversified business house, delivering complex and challenging projects for over 150 years. Each of its subsidiaries are into a varied range of businesses and are pioneers in their respective segments. With an overall employee Strength of around 65,000 it has employees from over 40 nationalities.
The recent challenges in the domestic economy along with the global uncertainty, had encouraged the firm to strengthen its Finance team and thus created a new role of Group Finance Controller.
The key objective was to manage large scale, widespread business operations with high operational complexity, managing and mentoring the BU Financial Controllers, while recognizing and understanding the specific challenges for each business.
- Drive process, particularly for tasks relating to consolidation of the financials of all Group Companies and preparing financial statements, budget reports, forecasts, cost analysis reports, profit or loss statements, as well as making recommendations
- Provide financial analysis and advice to the management
- Implement mechanisms to develop and implement financial, strategic and operational programs in support of the profitability and business objectives
- Monitor cash flows to ensure healthy liquidity and short & long term sustainability of the company and take necessary measures to ensure availability of working capital
Role definition and strategy creation: With the objective in mind, along with the challenges of the unique nature of the role, a team led by Suresh Raina identified the search field to include senior professionals from infrastructure, construction, and industrial sectors, preferably having worked with large conglomerates, for the sourcing strategy. We made sure that every potential candidate had previously handled large complex businesses, and deep experience of financial controlling, stakeholder management, high process orientation, and preferably project industry experience.
It was a challenging mandate, and we were able to close it successfully-Because of clear articulation of the Search strategy, and personal network and relationships with senior and successful finance professionals in the chosen sectors.
We placed Mr. Vinod Bhandawat, a strong and highly experienced finance professional, with over 25 years of experience, having earlier worked with marquee names such as Vedanta Group, Adani Power and Essel Infraprojects in senior leadership roles.