Thana Krishnan
Director - Financial Reporting - Corporate Finance
Summary
Strategic-thinking individual experienced in turning low-performing organizations into top revenue producers. Offering engaging and pleasant personality with expertise improving customer relationships.
Overview
28
28
years of professional experience
Work History
Director - Financial Reporting, Corporate Finance
WorleyParsons Ltd
06.2019 - 06.2024
- Director of Financial Reporting of the various corporate entities of Worley.
- Worley’s corporate cost structure is now broken into the 3 legal entities namely in Australia, United States and Malaysia. The consolidation and reporting of the results now come under this role. Key focus for the current financial period ;
- Intercompany Resolve
- Dealing with the senior stakeholders in the 50+ locations of Worley and resolving funding and payment concerns as well resolving any dispute on Corporate Charges to these locations. Given the complexity of the fully owned and JV entities, a full understanding of various tax and legal requirements of the various locations are crucial.
- Transfer Pricing Process
- Managing the transfer pricing requirements within the 3 corporate entities and the 52 legal entities of Worley across the globe.
- Preparation of Financial Statement
- Financial statements as well the tax submission of the Malaysian entity. Assisting in the audit and tax query for the Australian and US corporate entity.
- Stakeholder Management
- Resolving dispute in the Middle East and South American countries over corporate charges.
- Industry: Oil / Gas / Petroleum
- Specialization: Finance - Management
- ( in addition to earlier role as Financial Controller and my role was upgraded )
Financial Controller
WorleyParsons Ltd
06.2015 - 06.2019
- Financial Controller of WorleyParsons’s Corporate entity with key deliverable to ensure commercially viable cost structure’s are allocated to locations. Emphasis on Transfer Pricing, providing allocated costs with substantiated supporting for onward recharge to clients and maintaining a cost structure that is consistent year on year.
- The corporate entity controls a AUD $400m+ Corporate & Regional overhead Budgets as well as a AUD $150m+ Software Budgets. These budgets are managed within the team from cost capture right up to the recovery model from the 44 location offices globally and 143 entities.
- The Global Functions team reporting to me consists of 3 Managers and 9 Accountants covering 3 main workstreams
- Financial Planning & Analysis
- Budget, Forecasting, Financial modeling of overhead cost structure as well as reporting Actuals.
- Statutory and General Ledger Compliance
- Maintaining the general ledger and producing balance sheet reconciliation as well as the maintenance and loading data into the Hyperion HFM, Planning and Blackline.
- Intercompany Process
- Producing AR and AP statements as well as ensuring contra, settlements and maintaining payment from customers
- In addition to the above, there are approximately a 30 member team reporting to my office as a customer is their service in Worleyparsons Shared Service operation.
- Order to Cash
- Project Setup & Customer Billing
- Accounts Payable
- Cash Settlement, Invoice Processing from vendors
- Other key engagements
- Maintain dashboard reporting to the CFO on various components of the business. ( Budgetary v Actuals , Cost Savings Initiatives , FTE Reduction / Efficiency )
- Group Balance Sheet cleanup focusing on EBIT improvement and avoidance of unknown profit pitfalls from unrecovered costs from customers and intercompany mismatches
- Reduction of Intercompany transaction from improved transaction processes
- Reporting Unification ( Standardization of Mgmt. Reporting Formats)
- Industry: Oil / Gas / Petroleum
- Specialization: Finance - Management
Senior Finance Manager
WorleyParsons Services Sdn Bhd
09.2012 - 05.2015
- Heading “Record to Report” and Cost Allocation for Group Functions.
- Developing budgets for the Global and Regional cost pools
- Reporting actuals and embedding performance metrics in reporting
- Manage and execute cost recovery model from the 143 entities in 44 locations
- Understanding and manage the Joint Venture partner exceptions, legal restriction from certain locations and abiding to Cross Border transfer pricing requirements
- Focal point for all Corporate Cost Reduction Initiatives
- Focal point to Regional Finance Directors, Functional Directors and the Chief Financial Officer for all Finance functions from KL in absence of the Financial Controller. ( F.C. based in South Africa at this point )
- Developed R2R process map, roll out of the Standard Operating Procedure (SOP) , establishing Service Level Agreement (SLA) & integration into the Shared Service.
- Initiating Continuous Improvement (CI) initiatives - Six Sigma certification. Improvement of turnaround time of Monthly Management Reporting and a Bottom-up Budget Process.
- Key member of the HSE team in BSC KL and responsible as the current Floor Fire Warden, trained First Aider and chairman of the Employee Engagement Committee (Employee Feedback Forum)
- Responding to auditors’ queries and supporting analytics on Statutory reported values
- Initiate and report independent Internal review of key cost accounts of regional and Global cost pools.
- Industry: Oil / Gas / Petroleum
- Specialization: Finance - Budgetary, Reporting and Analysis
Regional Accountant
Premiere Conferencing (Malaysia) Sdn Bhd
07.2010 - 08.2012
- Leading the APAC Regional Statutory Reporting Team of 8 geographical dispersed team members in Sydney, Hong Kong, Singapore & Malaysia as well as being location lead to the AP team based out of Malaysia. Primary support to Australia, Malaysia & Singapore.
- Responsible for engaging with external auditors (PWC and EY) to drive the audited reports in the various presence in APAC as well as finalising the tax returns and the filing to the respective local companies commission.
- Leading the audit process on the level of disclosure and challenging audit processes for materiality, relevance and any conflicts in disclosure to the operation of the business.
- Prepare statutory financial reporting in accordance with IFRSs or local GAAP and statutory/legal requirements for all Asia Pacific entities
- Prepare Client Assistance Schedules (CAS) as agreed with external auditors, collate information from various process owners, review and provide them to the auditors
- Responsible for review and closing of audit adjustments and ensure proper recapture of the adjustments in the General ledger (accounting) evident by relevant supporting documents
- Manage stock take and fixed assets register process for assigned Asia Pacific entities
- Support GL close process to ensure process owners understand their journals and review and approve journal entries proposed by process owners
- Prepare income tax returns and deferred tax computations
- Prepare FBT returns
- Prepare non-resident withholding tax returns and maintain relevant documentation
- Assist Finance Director with restructuring projects in Asia Pacific
- Involved in discussions with auditors on process improvement and recommendations thereafter
- Industry: Telecommunication
- Specialization: Finance – Audit, Taxation & Reporting
Financial System Manager
Cruxsoft Sdn Bhd
07.2009 - 06.2010
- Company Overview: Cruxsoft Sdn Bhd is a software development company geared towards Financial & Business Intelligence Solutions. The company’s key products are in Accounting, Client Management & Financial Analysis.
- Successful roll out over 12 sites of CruxSoft Accounting Solution
- Financial turnaround from the red through strict finance monitoring
- Introduced new business arm “CruxPrint” which specializes in Corporate Media
- Drive the system requirement with the software developers on product features and iron out technical challenges in logic and database structures;
- Identify and defines data sources and techniques for data mining, and collect required data for applications’ test environment;
- Identify changes that have a commercial and user experience implication and ensure that project changes are tracked and reported through the Trend process;
- Guide through the entire user interface development cycle;
- Knowledge house for Financial System offering to clients
- Industry: Computer / Information Technology (Software)
- Specialization: Banking/Financial Services
Tax Manager
Mega-Wan Group of Companies
05.2008 - 06.2009
- Group of companies involved 6 core areas namely; Corporate Advisory, Secretary, Taxation, Share Registration, Training & Administration. Clients mainly in Port related industries ; logistics, manufacturing, trading and port ancillary services.
- Increased client portfolio by 120%
- Signing partner for corporate and tax advisory services
- One of key client included the Port Klang Free Zone (PKFZ) project.
- Prepare and review tax computation, filing of tax returns, CP204;
- Ensure tax compliance by each corporate and individual client;
- Industry: Accounting / Audit / Tax Services
- Specialization: Finance – Audit & Taxation
Business Development Manager - Taxation Services
EA-Link System (MSC) Sdn Bhd
04.2006 - 04.2008
- Company Overview: EA-Link System Sdn Bhd is a MSC Status Company involved in software for Malaysian Taxation.
- The flagship product is the BrassTax Software System which is the premier tax compliance software in Malaysia for Tax Agents and some leading MNC’s. EA-Link currently supports 400 installations across Malaysia both in the Peninsular and East Malaysia.
- Evaluating and providing feedback to the Inland Revenue Board on changes in filing
- Maintain the in-house tax knowledge database and staff competency in taxation
- Advising developers on required changes to the BrassTax Software System
- Final level of support for customers with critical issues pertaining to the tax compliance mechanism of the software
- Manage & conduct tax seminars for customers
- Exploring new business opportunity for the company
- Planning for next software developments and executing the framework
- Industry: Computer / Information Technology (Software)
- Specialization: Marketing/Business Development
Tax Manager
VGA Tax Services Sdn Bhd
12.2004 - 03.2006
- Tax firm with 400 clients from manufacturing, trading and services.
- Implemented a computerized tax software system, BrassTax.
- Managed 400+ clients with 3 FTE through strict control and automation
- Ensured 100% compliance level in 6 months of all cases
- Work allocation and monitoring of staff’s portfolio
- Structuring company’s work plan and keeping to deadlines.
- Reviewing all tax compliance work;
- Reviewing clients’ documents prior to IRB inspection
- Assist clients in preparation for tax audit interviews;
- Industry: Banking / Financial Services
- Specialization: Finance - Audit/Taxation
Senior Tax Executive
FKO Management & Taxation Services Sdn Bhd
04.1999 - 11.2004
- Tax Firm with 1,200 clients with presence in Klang Valley and Penang.
- Managed the biggest portfolio ( 150 client )
- Handle a varying portfolio including companies, co-operative society, society, councils, partnerships, resident individuals as well as non-resident individual clients;
- Computation and filing of tax computations and the relevant forms;
- Control and administration of tax estimation via CP204, CP204A and CP 204B
- Maintained the company library on Inland Revenue Board’s (IRB) public rulings & relevant laws;
- Coaching juniors for the duration of their probation on various tasks;
- Handling appeal cases on assessments, penalty and collection matters with the IRB.
- Analysing and providing feedback to financial reports prior to its submission to the regulatory bodies
- Advising clients on accounting and tax treatments;
- Developed an in-house tax software module in Sept 2000 (excel based with macro)
- Developed an in-house Tax Client Database Module in March 2001;
- Industry: Banking / Financial Services
- Specialization: Finance - Audit/Taxation
Assistant Manager
KLC CENTRE FOR HIGHER STUDIES
04.1996 - 03.1999
- College with a 500 students
- Handled cash collection monthly average of RM 300,000 ( at a very young age )
- Reduced the outstanding debts of the college significantly through proper cash flow management
- Maintaining the full set of accounts including payables and receivables
- Payroll management
- Providing management accounts to the board of directors
- Managing the building maintenance and security team for the building
- Industry: Education
- Specialization: Finance - General/Cost Accounting
Education
Chartered Company Secretary - Business Administration
Institute of Chartered Secretaries And Administrators
01.2008
Bachelor's Degree - Accounting and Finance
University of London
01.2005
Bachelor's Degree - Computer Science
University of Wales
01.2002
Skills
Budget forecasting
Problem-solving methodologies
Project coordination
Backup and contingency planning
Team leadership
Collaborative team development
Organizational change management
Strategic goal setting
Risk mitigation strategies
Regulatory compliance expertise
Expertise in talent sourcing
Financial data analysis
Timeline
Director - Financial Reporting, Corporate Finance
WorleyParsons Ltd
06.2019 - 06.2024
Financial Controller
WorleyParsons Ltd
06.2015 - 06.2019
Senior Finance Manager
WorleyParsons Services Sdn Bhd
09.2012 - 05.2015
Regional Accountant
Premiere Conferencing (Malaysia) Sdn Bhd
07.2010 - 08.2012
Financial System Manager
Cruxsoft Sdn Bhd
07.2009 - 06.2010
Tax Manager
Mega-Wan Group of Companies
05.2008 - 06.2009
Business Development Manager - Taxation Services
EA-Link System (MSC) Sdn Bhd
04.2006 - 04.2008
Tax Manager
VGA Tax Services Sdn Bhd
12.2004 - 03.2006
Senior Tax Executive
FKO Management & Taxation Services Sdn Bhd
04.1999 - 11.2004
Assistant Manager
KLC CENTRE FOR HIGHER STUDIES
04.1996 - 03.1999
Bachelor's Degree - Accounting and Finance
University of London
Bachelor's Degree - Computer Science
University of Wales
Chartered Company Secretary - Business Administration
Institute of Chartered Secretaries And Administrators