Flex Manager
21219 interim professionals
21219 professionals

 Select

Find similar resumes

CFO, Controller Foreign Subsidiaries

CFO, Controller Foreign Subsidiaries

Work Experience

PROFESSIONAL INTRODUCTION
The first 12 years I had a fast growing career, from accountant to financial auditing (KPMG) where I applied my knowledge in accounting GAAP and GAAS and made experience in full audit assignments in large National companies and foreign multinational enterprises; test, asses and review internal procedure in different business types and organizations. After 3 yrs I move to internal operational auditing with extensive traveling to the Asia Pacific subsidiaries, after year promoted to Financial Controller in East Africa and after 1 year return to Italy due to war in Somalia. Later I continue to be business unit F.C. in Italy and then Corporate F.C.
I did participate in acquisitions, merges and overall reorganization (I.T. integration, organization remodeling, and corporate accounting policy set up and reporting redefinition.
In mid. 1993 an executive recruiting firm offer me a life change opportunity and was a F.C. position in a J.V. in Tianjin P.R.C. and from that, I spent my 9 years working experience in China and Hong Kong earning the position of CFO and Finance Director with some period exposure as Deputy G.M. and acting G.M. within Sino-Foreign equity J.V., WOFE in China and contemporary Financial Controller of other Asia Pacific subsidiaries.
In particular during the my latest part of my career I had various experiences in corporate structuring and restructuring from J.V. to WOFE, from private to public company through listing exercise till I.P.O. in Hong Kong stock market,
I acquired H.R. management experiences such as employees recruiting, assessment, design motivation plan, career plan, in house training plus introduce financial knowledge training to non financial people to be able to speak a common language and improve corporate culture.
I.T. project coordinator, leading the implementation of the information system, effectively, and successfully, reaches the objective to provide on line data for an efficient business control and support effective decision system.
Set up internal control system in material management from inventory control, purchasing, manufacturing processing and quality/reject/rework control in order to meet the production plan by effective production and manufacturing cost control in order to meet sales forecast efficiently and profitable.
Sales, profit margin control, from the order intake to the deliveries, and receivables collection, for domestic and overseas clients.
Implement effective operating cash flow management in order to achieve to minimize the financial exposure utilizing modern credit facilities; tight creditors collection, non operating cash management by rising internal and external financing.
Design internal analytical reporting in different kind of manufacturing process and product like mechanical, textile, garments, pharmaceuticals and services industries.
Preparation of periodical financial reporting, in local GAAP, and IAS for top management, investors, banks, auditors, tax bureaus, and relative’s relationship.
Preparation and control of budget, medium and long term plan (strategic plan and strategic control); business plan and investment analyses for production expansion to launch new product, new brands or newly incorporated companies.
From April 2002 my President offer me the opportunity to get back to Europe and help him to restructure his entire business structure and after 1 year assignment my objective is to return back to China ready to take a challenge position as CFO of attractive and dynamic business organization.
PROFESSIONAL HISTORY
2000 – 03/2003 Shanghai Overseas S.A. Holding company based in Switzerland majors business in leisure garments designed in Italy, produced in China for the European market and export of Italian garments to China. Other business is pharmaceutical intermediate and electronic produced in China.

Subsidiaries in China Shanghai (Tefin Ltd.) and Beijing (BTFW Ltd.) and Italy in Milan has one designing and distribution company (ORIENT S.p.A.)

04/02 - 03 /03 Group Financial Controller, based in the H.Q. in Geneva, and Milan Orient S.p.A.
Reporting line to the President and 8 employyes, report to me.
Responsible for the group restructuring and reorganization, business down size and diversification, according to the ownership strategies
ERP implementation, Accounting and administration merge, consolidated financial statement, budgeting, group treasuring cash pull account management, tax saving planning.
Achievements
1. simplified the group structure and organization with the result in cost reduction by 30% in corporate governance, G&A expenses, and tax;
2. ERP successfully implemented with result of increase efficiency in online data positive impact in reducing invoicing time and collection by 30 days.
3. Reduce by 50% financial exposure and related cost (interest and charges).
4. Redesign geographic sales agent’s areas of responsibilities according to market profit maximization and client’s reliabilities (cut-off non performing agents and clients).
5. Clean audit report of 2001 consolidated financial statement according to IAS including the subsidiaries in China which improve corporate image versus banks and suppliers.
Reasons for leaving
After one year assignment and activities in restructure and reorganization my experience was too senior for new organization and my cost too high for the new structure.

01/00 - 04/02 Deputy G.M. of Tefin Enterprises Co., Ltd. Shanghai controlled 100% by
Reporting line, to the President, (based in Geneva), and 15 empl. Report to me.
Responsible for the overall management of the company setting up H.R. procedures and rules, reporting directly to me Finance and Admin., Imp/Exp., logistic, production order placement and planning (garments and accessories), QC, merchandising and sourcing.
Achievements
1. ERP and internal reporting implementation with the H.Q. requirements.
2. Hire new Q.C. and merchandiser’s staff and replace some manufacturers result in upgrade product quality standard and increase by 20% sales.
3. Down size office space, facilities, employees according to the real business necessities resulting in cost saving by 40%, turn the operation from red to profit.
Reasons of internal transfer
The down size includes also my position and the D.G.M. position was localized.

1997 – 1999 CFO of, Beijing Crespi Synthetic Leather Co., Ltd. Sino-Italian J.V. , majority shareholder is G. Crespi S.p.A. listed in Milan stock market. 100 Million Rmb. Turn over, and 90 employees.
Report to the J.V. G.M. (Italian), and the Group CFO in Italy; reporting to me the Acc., Finance, Admin., Imp/Exp., warehousing; total 11 head count.
Responsible to set up the related department from the scratch, hire personnel, implementation of Financial computerized system and MRP system. Introduce the H.Q. standard costing system and sales/profit margin control by products and clients. Prepare monthly reporting and yearly report according to EEC IV Directive. Supervise the activities and coordinate the mentioned dept. which report to me. Cash flow management and trade finance implementation.
Achievements
1. Minimize loss by 5% by maximizing product margin mix and clients reliabilities.
2. Improve cash flow by obtain export finance credit facility (cut 60 days collecting time.
3. Obtain VAT refund, obtain approval from SAFE to pay foreign debt.
Reasons for leaving
My position was localized when my contact was expired.

1995 – 1996 CFO of, Jin Tak Tianjin Co., Ltd. Sino-HK-Italian J.V. based in TianJin and HK.
GFT Italy owned minority share, 250 Million Rmb. Turn
Over 1400 employees. Financial Controller Asia Pacific, based in GFT HK to control HK, Korea and Australia operation.
Report to the J.V. G.M. Seat in Tianjin and to CFO based in Italy. In China they report to me about 20 empl. Directly the Financial Manager, I.T. Manager, and H.R. Manager, Sales Controller, and Production Controller.
Responsible to reorganize and restructure my related dept. due to previous miss management and fraud. Set up a new financial system and production and sales cost control system. Set up employees’ incentive premium system. Organize stock sales campaign. Reporting to the G.M., H.Q. CFO and the Shareholders.
Coordinate the listing activities in HK Stock market of the Jin Tak Holding in HK.
Coordinate and consolidate the Asia Pacific subsidiaries reporting and budget and report to the International Business Unit Director and H.Q. CFO.
Achievements
1. Re estate 3 years accounting books for the Public Accountant according to HK GAAP result in a clear and true Financial Statement with 3 years crescent trek record.
2. Increase productivities by 10% reduce absenteeism rate by 5% and increase quality close to zero defect by implementation of the incentive and motivation plan.
3. Stock reduction by 50% in 2 years by introducing textile purchase order system according to collection sales campaign. Reduce ready made garments stock by opening Factory outlet store.
Reasons for leaving
Ownership turn around in GFT S.p.A. Italy and management turn around worldwide which start in mid 95 and effect Asia Pacific by the end of 96 and was the time I manage a gentlemen agreement leaving.
Mid 93 – 1994 Financial Controller in Zanussi Tianjin Compressors Co., Ltd. Based in Tian Jin, 50/50 % Sino-Italian J.V. 450 Million turnover and 80 Million profit in 94. Italian H.Q. Zanussi Elettromeccanica in Pordenone Italy newly takes over by Electrolux Sweden.
Report to the J.V. G.M. Seat in Tianjin and to CFO based in Italy. In China they report to me about 10 empl. directly the Cost controller, I.T. Manager.
Responsible for the set up and control of the budget process and reporting to the H.Q., implementation of internal procedures and Financial system and related integration with the MRP system.
Achievements
Provide on time result regarding my own responsibilities.
Reasons for leaving
I was prepared for more challenging position and higher responsibilities.

1991 – Mid 93 Divisional Controller in Schlumberger S.p.A. Milan 50 Million Dollar turnover and 250 empl. Report to the Division Manager and to functionally to the Group Finance Director; report to me the accounting and finance dept.
The Regulation Division was established by the acquisition of two privates companies with old style management which was committed to manage the business for 2 years from the take over by Schlumberger.
Responsibilities were to replace the old accounting system with the Schlum accounting policy and chart of account in order to provide on time monthly reporting, interface the old MRP with the new accounting system.
Achievement
Provide successful result regarding my own responsibilities
Reasons for leaving
After 2 years from the acquisition the Regulation Division was merged with the Gas Division according to the group structure.

1997 – 1991 Internal Auditor and Subsidiary Controller Farmitalia Carlo-Erba Group S.p.A.
Experience in Operational audit to the overseas subsidiaries and later promoted to Controller and relocated to the Pharmaceutical Factory in Mogadishu (Somalia.

1994 – 1996 Auditor in KPMG Milan earning experience in financial audit in big clients like Pirelli and Philips electronic.

1992 – 1994 Accountant in Carbochimica S.r.l.


Education

1981 Diploma in Accounting and Finance, l’Ist. Tec. Comm.le “L. Casale”
1982 Law Faculty, Milan University: Private Law (passed).
1983 Economy & Trade Faculty, Milan Catholic University: Public Law, Micro Economy, Corporate Economy, Accounting, English and French.

Accounting principle and audit standards (84/85), Mergers & Acquisitions (86) KPMG.
Junior manager development program (87) Montedison Milan.
Activity Based Cost Accounting. (89) C&L, Galgano Consultants Milan.
MRP II, JIT, TOTAL QUALITY (92) Oliver White Consultants London.
Management Accounting. (94) Chicago.
Financial regulations and Taxation system in China (95) Hong Kong University.
Asians’ Macroeconomics models and Marketing strategies (95) Bocconi University.
China tax related seminars (97/98) Deloitte TT Beijing
Chinese elementary, intermediate level (99) Beijing Foreign Languages and Culture University.
Economic & Management, short courses at LSE – Shanghai (London School of Economics and Political Science) 2001.
SAP training, Financial and Controlling modules. 2002/2003 (one month)



Languages

Italian, English, Mandarin, French, Bahasa Indonesia.

 Select

Candidate search for

interimmanagementPaste your project description here