Umesh Malhotra: in Northridge, CA
Umesh Malhotra
Northridge | United States
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Work experience
LIFESOURCE WATER SYSTEMS, INC
Financial Controller | 02/2016 - 08/2020
Ensured that effective internal controls are in compliance with GAAP and applicable federal, state and local regulatory laws and rules for financial and tax reporting.
• Developed financial models, annual operating plans and budgets.
• Ensured strong internal controls by diligently tracking and trending departmental metrics KPIs/KRIs, to improve efficiencies through continuous improvement and evaluation of potential risks to compliance.
• Simplified accounting code structure, making it practical and easy for accounting staff. Created bills of materials for inventory items which included raw material, labor and direct overhead costs and kits which comprise of more than 2 individual items.
• Identified errors in branch reporting, which led to accurate recording of inventory and subsequent sales and costs of goods by branch.
• Created an atmosphere of ownership in the Finance and Accounting Group thus providing timely and accurate financial statements, with analysis to prior year and budget.
• Maintained strong and open relationships with senior executives to identify their needs and seek full range of business solutions.
• Provided executive management with accurate reports, analyzing to budget and prior periods and providing recommendations for improvements.
• Analyzed, identified and reported on areas of efficiency in overhead costs, consolidation of branch locations to reduce expenses by approximately $250K.
UNITED CONSORTIUM
Financial Controller | 04/2015 - 01/2016
VALENCIA, CA APR 2015 - JAN 2016
Mid-sized pharmaceuticals & toiletries wholesaler and manufacturer.
Financial Controller,
Ensured that effective internal controls are in place and compliance with GAAP and applicable federal, state and local regulatory laws and rules for financial and tax reporting. Monitored and maintained company Policies and Standard Operating Procedures in compliance with Sustainability Accounting Standards Board (SASB). Focused on Affordability and fair pricing, Corruption and bribery and Manufacturing and supply chain quality management.
• Ensured credibility of Finance group by providing timely and accurate analysis of budgets, financial trends and forecasts. Managed processes for financial forecasting, budgets and consolidation and reporting to the Company.
• Established and maintained strong relationships with senior executives to identify their needs and seek full range of business solutions.
• Provided executive management with advice on the financial implications of business activities with recommendations to strategically enhance financial performance and business opportunities.
• Analyzed, identified and reported on areas of efficiency in the manufacture of products, which led to sales increase of 11% in 2015 compared to 2014 (size of container increased).
• Evaluated and advised stakeholders on the impact of long-range planning, introduction of new programs/ strategies and regulatory action.
• Analyzed monthly financials for presentation to potential buyers. Made presentations to multiple entities in the sale of company.
BUXBAUM HCS, LLC
Associate CFO Consultant | 03/2014 - 04/2015
Managed the finance departments at clients on an interim basis per company policies. Clients included Popchips and CC Wellness/United Consortium.
![Image TOMS SHOES](https://content.malakye.com/media/logos/images/1874.png)
TOMS SHOES
Financial Consultant | 05/2012 - 02/2014
• Part of the integration team converting accounting and inventory system from a proprietary base to SAP.
• Performed all accounting functions for an assistant controller and accounting manager on an interim basis, including processing day to day entries, reconciling credit card charges to the bank and journals for payroll.
THE SILK TRADING CO
Financial Controller | 01/2007 - 12/2009
Mid-sized company with multiple retail locations selling drapes and home decoration products in New York, Los Angeles, Atlanta, Dallas, San Francisco
Financial Controller,
• Prepared monthly Financial Statements and performed analysis, by retail location analyzing profitability.
• Computed key performance indicators measuring break even for each store, gross margins, inventory shrinkage and foot traffic.
• Identified slow moving inventory items, reducing holding costs and increasing inventory turnover.
• Consolidated warehouse location with retail space saving approximately $250K in rental costs. This included shipments being delivered directly to retail locations based as opposed to larger shipments to corporate warehouse and then re-distributed.
• Closed two locations, contributing about $200K to net profitability.
• Performed cyclical physical inventory counts by store location, reconciling to financial records.
• Dealt with company factors for advancing funds against receivables, reconciling chargebacks and pursuing collection efforts with these customers.
JONATHAN LOUIS
Financial Controller | 01/2005 - 12/2006
• Prepared monthly Financial Statements and performed monthly and year-to-date analysis.
• Inter-acted with bankers negotiating line of credit.
• Identified outsourcing of certain production processes to reduce direct costs. This achieved cost savings of approximately 10%
• Dealt with company factors for advancing funds against receivables.
• Prepared daily cash flow and created a thirty day rolling forecast of cash.
• Performed cost analysis by furniture line to arrive at a true cost of manufacture allocating overhead costs.
TISSURAMA INDUSTRIES
Financial Controller | 02/1999 - 12/2004
Hundred-million-dollar Company, knitting and dyeing of fabric based in Vernon California
Financial Controller,
• Prepared monthly Financial Statements.
• Dealt with company factors for advancing funds against receivables.
• Managed cash flow to maximize credit available against vendor payments and receivables daily.
• Managed inventory and created process to control costs of production - identifying areas of cost cutting like reducing staff per machine, maintenance schedules and reducing number of shifts. This reduced costs by about 10%.
COHR Inc
Financial Controller/VP Finance | 01/1991 - 11/1998
JAN 1991 - NOV 1998
Hundred-million-dollar Company involved in the hospital/healthcare business, contracting with hospitals as a third-party service provider for repairs to equipment and enabling health care providers with an ability to achieve purchasing power by forming a larger group.
Financial Controller/VP Finance,
• Part of core team in taking company through the IPO process.
• Prepared detailed information to be included in 10-Q and 10-K filings, including detailed analysis by division.
• Prepared monthly Financial Statements and performed analysis, comparing to budgets and forecasts.
• Successful in the conversion of the entire accounting system from a proprietary system to Great Plains, meeting challenges of growth and accurate reporting
• Performed due diligence and audit work on 23+ companies acquired as part of a consolidation in the service industry; including India and across the USA.
• Liaised with external auditors at year-end, ensuring all audits and reviews were completed in a timely manner.
• Set financial budgets for the companies and departments.
• Performed periodic inventory counts, investigating variances and reconcile differences in quantity and valuations.