Suresh Selvaraj

• Managing a team Size of 20 ( 2 Managers - FP&A 1 & 1 Assistance controller) .Team which is responsible for Financial planning and analysis, Gl accountants, AP & AR Cash flow management, Fixed asset ,inventory management, Treasury and Foreign exchange, Compliance, Custom & Taxes, for 3 Manufacturing Units with the combined Annual revenue of USD$1.2Billion (Closed in FY23). Total business unit - 18, Covering customers from the geographical locations in ASIA, EUROPE and AMERICA. Key functions summarized below :

- Budgeting : a) Budget is refreshed before the beginning of new QTR and it is 12 months rolling forecast. Once, in a year, 12 Months rolling + 3 year plan. b) Revenue to handshake with the business owner and cost structure populated based on the different cost drivers agreed and reviewed with GM and Operation leads. c) To simulated and compare the cost structure with the Fixed and Variable modelling (Formulated based on Quote/ Historical %) based on the revenue forecast to ensure the reasonableness and accuracy d) Review the forecast with different stake holders such as Plant general manager, OPS VP, Regional finance director, BU VP Global OPS & VP Finance. e) Address the query from business owners on the cost drivers for their respective BU and provide the necessary rationale.

- Actual Reporting : a) Review the financials for the 18 different customers, key elements to validate - Revenue is recorded per the US GAAP accounting Std ASC 606 and cost is recorded per the matching principle. b) Review all the variances (+-$50K) against the forecast and plot the areas to focus and blow down into the further details c) Review all the ledger accounts from the trail balance (Comparing Prior vs current month) from cash to FX gain or loss, to plot the exceptions. d) Pre closing meeting with the GM and Operation leads to highlight what is going well and area of concern, to alert them about risk/ opportunity for the forward looking months/ Quarter. e) Provide a monthly controller report to all the executive leadership team, Finance leads and business owners.

- Working Capital & Cash Flow management : a) Review account receivables weekly to ensure all the AR is collected within the agreed payment terms to reduce past dues exposure. b) Offering customer discount terms for early collection (We generated additional cash $50M each Qtr) considering to a better trade off as compared to the increasing lending rate. c) Periodically review supplier payment terms periodically and seek opportunity to increase their payment terms if non critical (Multiple source for the same component). d) Seek customer for a working capital advances, if the ITO (Turns) does not per the customer contract. e) Periodically review the inventory onhand vs demand plan to seek opportunity for reducing the incoming material to control the cash outflow. f) Weekly review on the working captial as % of revenue and seek for actions to improve the % (Company refer lower NWC % on revenue).

- Capital Expenditure review (Capex) : a) Review and approve the new investment, Machine/ Buildings improvements, Automation, compliance. b) For the new investment, ensure the ROIC & Payback is per the customer quote. Any additional investment over and above of the customer quote, is assured to amortized thru pricing to the customer. c) Automation projects is approved based on the guiding principle from corporate on 3 elements, Adopting new technology, Shorter ROI & Payback, Sustainability. d) Analyzing Capex investment for the key investment thru the capex postmortem by comparing original financials with the current financials to assess the progress.

- Validating and approving customer quotes and contracts : a) All the new customer/ refreshed customer quotes will be reviewed on the following ground principles - i) Ensuring all the cost drivers are calculated based on the current prevailing campus rate ii) Comparing all the key elements (%) in the quotes against the historical trended to assess all the operating cost is comprehended iii) To ensure all the investment/ Launch cost (NPI) is amortized back to the customers into the product pricing. iv) Operating profit, ROIC and payback is per the corporate guiding principle. v) Also, bench march the quote against the identical business within flex to ensure the competitiveness on the pricing.

• US GAAP & Sox Audit : a) Ensure to meet the all requirements by establishing strong control environment by collaborating with Operation, Material, Programme & HR b) Conduct periodical refresher trainings on the sox controls. c) Created accounting guideline template for multiple scenarios for all the Financial analyst and GL accountant to refer and record journal & transaction to the right ledgers. d) Judgement and estimate are reviewed periodically to ensure the events and actions are captured accurately.
• People management : a) Create a succession & back up plan for all team members b) Conduct quarterly perform review, to refresh the goal (Target) and provide a progress update on the actual performance. c) Nominating the team members for both internal and external trainings to enhance their competence d) Conduct coffee talk / Skip level meeting with the FA's & accountants regularly e) Encouraging the team to draft their own goal for their respective function to maintain transparency and ownership.

• Transition the Financial planning and analysis activity from 4 manufacturing unit in Penang, Malaysia within the span of 6 months involving just 4 team members at site and 4 team members remotely.
• Managed team strength of 15 people supporting 2 countries ( Malaysia and India) flex manufacturing units for financial planning and analysis.
• Review the weekly costing reports such as purchase price variance, work order report, Material scrap, Inventory aging, Inventory revaluation, Claim tracker, Sales and Vam analysis (Actual Vs budget), Expense direct material, Inbound and outbound freight, total direct labor over time, Equipment expense & Facility cost and provide the site finance director a summary on whats going well and what are the area which is derail.
• Conducting bi week meetings with the site operation to drive key indicators ( Non nettable,UPPV claims, Inventory aging, Work order aging, Aging Open claims, Aging GRNI).
• Instrumental in setting up core team to validate request for std changes to ensure the std cost changes is in accordance to the customer approved quote.
• Established all the key metrics into the Tableau thru automation and reduce the weekly reporting to bi weekly and improve the GBS vs Site penetration from 60% to 85% within the span of 3 months.
• Monitored team performance and provided constructive feedback to increase productivity and maintain quality standards.
• Supervised team members to confirm compliance with set procedures and quality requirements.
• Helped meet changing demands by recommending improvements to business systems or procedures.
• Maintained database systems to track and analyze operational data ( internally developed tools also to track the thread).
• Evaluated customer needs and feedback to drive product and service improvements ( Voice of customer conducted yearly once).

· Preparation & Consolidation of Balance Sheet, Profit and loss a/c & Trial Balance

· Preparation of Budgets by comparing the Actual VS budgeted amount

· Preparation of MIS reporting & analysis the date with the ratio analysis tool

· Preparation of Weekly, Monthly and Quarterly Cash Flow Forecast by analysis the actual Payables & Receivables

· Issuing of Intercompany receivables vouchers to the all the WW sites ( Flex Internal Sites) and preparation of Monthly and Yearly Revenue reconciliation

· Furnishing monthly Tax Deducted at source payments as the slab of Income Tax Act 1961

· Handling Sox & Statutory Audits (Quarterly & Annual)

· Preparation of Bank Reconciliation Statement and highlighting the open items.

· Preparation of quarterly Cash Flow Forecast taking into consideration the total receivables and payable for the next 12 months

· Intercompany Receivables & Other Accounts Receivables, Cost Center Expense Analysis, Quarterly Forecast (Cash Inflow & Out Flow) & Maintenance of Fixed Asset Schedule (In US GAAP & India GAAP)

Transitions

· Driven the Implementation of Tax depreciation for China

· Ideated and implemented the Document Retention Project for WW Sites

· Implemented Tax Depreciation for US as per MACRS Laws & Canada as per Capital Cost & allowance policy

· Implemented the Assets Values as per US GAAP & LOCAL GAAP for Asia MEPs

· Involved in driving the implementation of Bonded Equipment Tracking for China Sites

· Fixed Assets Process from ASSC( America) to GSSC (India)

Operations

· Handled FA (fixed assets) entries in DataStream (Oracle Database) BAAN ERP Systems and Outlook soft(Global Reporting Tool) and reconciling the same

· To solve complicated issues during month end process

· To have frequent interaction with all the site controllers & VIP’s (US Region)

· Taking care of American Region Fixed Assets & Responsible for the Team

· Making sure all the month end tasks been completed on time (New acquisition, Sales & Inter Company Transfers of Fixed Asset during and particular month)

· Regular interaction with Customers.

· Resolve fixed asset related queries to WW sites on capitalization, physical count and intercompany transfer to be in line with Fixed Assets policy of Flextronics.

· Monitor the Construction in Progress for WW Sites and ensure the assets are capitalized within 12 months of asset purchase.

· Brought in inclusions in Fixed Asset policy in coordination with Corporate accounting team.

· Ensure all the deliverables/transactions/approvals proceed as per the requirements fixed assets policy

· Travelled to Malaysia for implementation of Fixed assets as per the Local statutory laws

· Review the SLA & SOPs at frequent intervals to make the updated amendments

· Monitoring & Ensure Zero BAAN conflicts with other sessions and approve access.

· Acting as a Local DEM Admin for Baan access Approvals

· Remediation of Baan user access conflicts and work with the IT team to remove the conflicting access

· Monitoring Quarterly user access review – for Banking Software, DataStream & Outlook Soft and advice the respective team for the action plan.

· RCTS (Risk Controls Tracking System) i.e. audit controls and review and updates comments on quarterly basis.

· Responsibility Matrix to define the responsibility of work of Shared Service & Sites and review and update quarterly

· SOD (Separation of Duty) Matrix Review and upload on Quarterly basis

· Process review comparing with RCTS control activities, Controller’s Handbook, SOP and Other Policies on Quarterly

· Coordinating with Deloitte and Internal Auditors for smooth completion of audits

· Follow up with operations team on the completion Management Action Plan

· Re-test the Control Activities which are identified as Ineffective.

· Contacting Internal Controls team for obtaining necessary clarification on the Control activity.

· Providing SOX Training to all FSSC employees and conducting assessment.

· Preparation of SOP, audit checklist and manuals.

· Periodic Transportation Audit and provided the audit reports to the management.

· Periodic Expense Audit and provided the audit reports to the management

• Handled FA (Fixed Assets) transaction in SAP System.
• Have involved in the migration of the process from Manila( SSSC) to Chennai ( SSSC)
• To Solve complicated issues during month end process.
• To be held responsible for all Deliverables for the monthly activities.
• Responsible for Managing the month end activities and make sure every month have been done within the given time line.
• Have been given a primary responsible for the reporting activity.
• Preparing the Tax reports like property tax report and SODA report

Transitions

· Driven the Implementation of Tax depreciation for China

· Ideated and implemented the Document Retention Project for WW Sites

· Implemented Tax Depreciation for US as per MACRS Laws & Canada as per Capital Cost & allowance policy

· Implemented the Assets Values as per US GAAP & LOCAL GAAP for Asia MEPs

· Involved in driving the implementation of Bonded Equipment Tracking for China Sites

· Fixed Assets Process from ASSC( America) to GSSC (India)

Operations

· Handled FA (fixed assets) entries in DataStream (Oracle Database) BAAN ERP Systems and Outlook soft(Global Reporting Tool) and reconciling the same

· To solve complicated issues during month end process

· To have frequent interaction with all the site controllers & VIP’s (US Region)

· Taking care of American Region Fixed Assets & Responsible for the Team

· Making sure all the month end tasks been completed on time (New acquisition, Sales & Inter Company Transfers of Fixed Asset during and particular month)

· Regular interaction with Customers.

· Resolve fixed asset related queries to WW sites on capitalization, physical count and intercompany transfer to be in line with Fixed Assets policy of Flextronics.

· Monitor the Construction in Progress for WW Sites and ensure the assets are capitalized within 12 months of asset purchase.

· Brought in inclusions in Fixed Asset policy in coordination with Corporate accounting team.

· Ensure all the deliverables/transactions/approvals proceed as per the requirements fixed assets policy

· Travelled to Malaysia for implementation of Fixed assets as per the Local statutory laws

· Review the SLA & SOPs at frequent intervals to make the updated amendments