Rakesh Rai Jugoo
Montagne Blanche
Summary
Skilled Banking & Finance Professional, bringing 20 years of experience working with Banking and Non-Banking organizations, both local and International. Proven leadership and successful in leading teams in achieving financial goals. Accomplished in working with executive leaders to develop business, financial and growth strategies.
Overview
21
21
years of professional experience
Work History
Finance Controller
VWR, part of Avantor
05.2019 - Current
- Executive Board Director on 3 VWR Entities in Mauritius
- Providing controllership to all 4 VWR and 1 Avantor Mauritius Entities at Global level
- Leading the Accounting and FP&A function for the VWR and Avantor Entities, including Budgeting, , Accounting, Accounts Receivables & Payables Accounts Payables, Fixed Asset Management, Procurement and Financial Reporting through a team of 3 persons
- Leading the Avantor Business Centers (ABCs) centralised invoicing process for services provided by Mauritius, India (Pune & Coimbatore) and Romania entities to the Group (25 Locations) for shared services
- Leading the monthly close process, ensuring uncompromising integrity of the financials and timely completion
- Reduced month-end closing time by implementing efficient reconciliation processes and procedures.
- Preparation of IFRS and assistance for Statutory Audits.
Group Financial Controller
Avenport Group & New Africa Advisors Ltd
04.2018 - 05.2019
- Managed accounting operations of complex corporate structures in a portfolio of 22 onshore and offshore companies and cleared long outstanding audits and filings
- Conducted reviews and implemented risk management procedures resulting in better financial controls and improved processes
- Optimized cash flow management with effective forecasting, budgeting, and reporting systems.
- Strengthened financial control by implementing rigorous internal audit processes and risk management strategies.
- Conducted Market Research and formulated Client Proposals for Mergers & Acquisitions (M&A) under a Joint Venture setup with New Africa Advisors over a 6-month period from August 2018 to January 2019.
Finance Manager
Toukan Corporate Services Limited
11.2017 - 04.2018
- Managed the Entity, Client Accounting and Fund Accounting activities through a team of 3 persons
- Enabled strategic decisions by the Board of Directors through Financial reports and strategic analysis and strategic planning
- Implemented processes to setup the accounting operations of close-end funds held for Clients.
- Enhanced budget management by implementing expense tracking and cost reduction strategies.
- Optimized cash flow with diligent monitoring of accounts receivable and payable.
- Completed filings and upheld strict compliance with regulatory agencies and supervisors.
Chief Operations Officer
United Helvetic Bank Ltd
05.2016 - 11.2017
- Appointed as Executive Director on the bank’s Board of Directors and represented the Bank as Administrator with the Central Bank of Seychelles
- Steered the Project for setting up and structuring of the new Private Bank’s Operations and liaised with the Central Bank of Seychelles for the licensing and approval process
- Designed, implemented, and overseen of the Bank’s systems, processes, workflows, and procedures as part of the onboarding process for the Central Bank of Seychelles
- Provided Strategic Leadership for implementation of operational controls and reporting procedures in place to effectively grow the organization and to ensure financial strength and operating efficiency
- Initiated and maintain professional relationships with different stakeholders including Central Bank off Seychelles, Core Banking / IT System Vendors, SWIFT, Card Service Providers, and other relevant institutions and authorities, as part of the Bank Project.
- Ensured compliance with industry regulations, maintaining strong relationships with regulatory bodies and implementing necessary updates to internal policies.
Finance & Administrative Manager
Pierre Mont Ltd
12.2013 - 05.2016
- Managed the Finance and Administrative functions of the company including Accounts Payable & Receivables, General ledger, Cash Flow Management, Credit Management, Budgeting, Procurement and Payroll
- Reduced operational costs through diligent vendor negotiation and assessment of service contracts.
- Supported executive decision-making through the presentation of detailed financial reports and analysis during board meetings.
- Developed long-term financial strategies, aligning goals with company objectives to promote sustainable growth.
Finance Officer
State Bank of Mauritius Ltd
07.2013 - 12.2013
- Managed the bank’s overall Procurement, Accounts Payable and Fixed Asset Management, through a team of 4 persons, ensuring efficient procurement and timely and accurate transaction processing and reporting
- Provided in depth analysis of investments held by the Bank and Board Papers to report results / performance of those investments to the Board of Directors
- Ensured accurate and timely submission of statutory returns to Bank of Mauritius and Mauritius Revenue Authority as per set deadlines.
- Enhanced profitability by identifying cost-saving opportunities through detailed expense analysis.
- Established strong relationships with key vendors, negotiating favorable terms to benefit the organization''s bottom line.
Head of Operations / Credit Manager
PARFIP BPO
11.2011 - 01.2013
- Managed the Operations of the company through a team of +/- 50 employees
- Streamlined operational processes by identifying inefficiencies and implementing best practices.
- Led cross-functional teams to achieve company goals, fostering collaboration and communication.
- Provided expertise for the design and implementation of KPIs to determine Operational Performance.
- Spearheaded continuous improvement projects, resulting in enhanced business performance.
Head of Operations
Bramer Banking Corporation Ltd
07.2010 - 09.2011
- Managed the Operations of the Bank through a team of +/- 60 employees
- Lead bank-wide initiative review of +/- 200 core banking processes resulting in updated Standard Operating Procedures (SOPs) and significant process improvements and risks mitigations over various areas
- Improved overall productivity with the introduction of innovative process improvement initiatives.
- Increased customer satisfaction by actively addressing concerns and ensuring timely resolutions.
- Reduced operational costs through effective budget management and cost-saving strategies.
- Spearheaded continuous improvement projects, resulting in enhanced business performance.
- Automated manual processes using technology solutions, increasing accuracy and efficiency within operations.
Clerical Officer / Officer
State Bank of Mauritius Ltd
07.2003 - 06.2010
- Assisted the Team Leader Operations in the management of the Operations Division consisting of 200 employees, within several sub-departments
- Performed several Operational Tasks including MICR Cheques, Standing Orders & Direct Debits, MACCS / Interbank Transfers, KYC Data Management Unit, Trade Finance and Treasury Back Office
- Prepared comprehensive reports for senior management, providing valuable insights for informed decision-making processes.
- Conducted various business process improvements to enhance Service Quality and Revenue whilst managing Operational Risks.
Education
MBA - Financial Management
University of Mauritius
Mauritius05.2014
Professional Qualification - Accounting
Association of Chartered Certified Accountants
United Kingdom02.2010
Skills
- Strategic Planning
- Procurement Management
- Reporting Oversight
- Financial Reporting
- Budgeting and Forecasting
- Business Partnering
- Regulatory Compliance
- Risk Management
- Financial Analysis
- Corporate Finance
- Policy Planning
- Internal Control Management
- Project Management
- Financial Planning
- Finance
Affiliations
- Association of Chartered Certified Accountants (FCCA).
- Mauritius Institute of Professional Accountants (MIPA).
Languages
English
French
Others
- College Representative at Model United Nations (MUN) Summit and Stock Exchange of Mauritius (SEM) Young Investor Award Programme in 1998.
- Elected Sports Captain, Student Council Representative and Students’ Prefect at College.
Personal Summary And Objectives
Fellow Chartered Certified Accountant (FCCA) and MBA Graduate with experience in Banking and Finance. Passionate about managing challenging projects in both Banking and Finance environments. Constant drive to improve competencies to achieve higher professional ambitions.
Telephone No
(230) 437-3162 / (230) 5251-4760
Personal Information
- Age: 43 Years
- Gender: Male
- Nationality: Mauritian
- Marital Status: Married
Timeline
Finance Controller
VWR, part of Avantor
05.2019 - Current
Group Financial Controller
Avenport Group & New Africa Advisors Ltd
04.2018 - 05.2019
Finance Manager
Toukan Corporate Services Limited
11.2017 - 04.2018
Chief Operations Officer
United Helvetic Bank Ltd
05.2016 - 11.2017
Finance & Administrative Manager
Pierre Mont Ltd
12.2013 - 05.2016
Finance Officer
State Bank of Mauritius Ltd
07.2013 - 12.2013
Head of Operations / Credit Manager
PARFIP BPO
11.2011 - 01.2013
Head of Operations
Bramer Banking Corporation Ltd
07.2010 - 09.2011
Clerical Officer / Officer
State Bank of Mauritius Ltd
07.2003 - 06.2010
MBA - Financial Management
University of Mauritius
Professional Qualification - Accounting
Association of Chartered Certified Accountants
Similar Profiles
Kirubhasini DevarajanKirubhasini Devarajan
ASSOCIATE – MARKET SOURCING at VWR PART OF AVANTORASSOCIATE – MARKET SOURCING at VWR PART OF AVANTOR
Charles FuhrmannCharles Fuhrmann
Team Lead-Chemical Manufacturing at VWR, Part Of AvantorTeam Lead-Chemical Manufacturing at VWR, Part Of Avantor
Tiffany BrumleyTiffany Brumley
Liquid Team Lead at VWR, Part Of AvantorLiquid Team Lead at VWR, Part Of Avantor