SOLOMAN JOSEPH
Finance Professional
Kampala,102
Summary
- Senior Finance Professional offering 30 years across spearheading Finance, Accounts, Collections, Credit Management & Business Excellence Financial Transformation Specialist;
- steered processes improvement projects, reengineered existing process, curbed tasks involved & made process lean, resulting in significant savings in man hours & overall cost.
- Enhanced financial processes through initiatives geared towards lowering risk, heightening productivity & improving internal control;
- extensive knowledge of modern accounting/cost control systems, standards & statutory compliances Domain expertise in Auto loans, Commercial vehicle loans, TW Loans, Business loans, Personal loans and Mortgage Loans.
- Specialized in Used Vehicle funding
- Administered the underwriting of multiple products like auto loans, commercial vehicle loans, TW loans, business loans, personal loans and mortgage loans across used vehicle funding
- Impressive success across Credit and Collection functions at various banks and financial institution.
- Startup specialist in managing a finance company in Uganda including company registration, Hire Purchase registration, Market Analysis, Competitor Analysis, Manpower Planning, Working Capital planning, Infrastructure planning, Office Construction, setting up the file flow process Prepared MIS reports on business, monthly profit and loss account, Collection efficiency and PAR % analysis and interpretation;
- created reports daily, weekly and monthly reporting to the management on collections, disbursements, insurance follow-ups, non-starter analysis, portfolio analysis, deviation analysis, rejection analysis and monthly P&L projection and variance analysis through V Lookup, Pivot Table, Index match functions and other Macros.
- Rich experience across Ugandan Tax laws such as Value Added Tax (VAT), Withholding Tax, Corporate Taxation and supporting Audit function, Process and ensuring monthly return filing of VAT, Payee and NSSF.
- Proficiency in preparing & reviewing Financial & Management Reports like cost & benefit analysis, productivity analysis and cost variance analysis;
- created and reviewed business plans and financial models Steered overall accounting operations and audit for the organization including collections, purchase, contract compliance, receivables, deposits, disbursements, payroll, fixed assets and inventory Prepared budgets, forecasts, and financial statements on a monthly, quarterly, and annual basis.
- Heading the Cost Centre and ensuring profitability.
Overview
27
27
years of professional experience
1
1
Certification
Work History
Retail Finance Head
Mantra Motorbike East Africa Ltd.
11.2022 - Current
- Created a division – Retail Finance division for a distributor of Hero Bikes in Uganda
- The idea is to improve sales by selling the bikes on loan
- To attract the customers by offering attractive Schemes and Turnaround Time
- Setting up Office, Creating attractive Schemes, File processing, Policies and selection criteria of Eligible Customers
- Has played functional role in creating a Software to process the loan – Starting from Operations login to Disbursement, and connecting the process with accounting till final Accounting report
- Recruiting and training the Manpower in all departments – Sales, credit, Operations, Collections, Admin, Accounting and finance
- Creating Legal Hire Purchase Agreement clauses, relevant Collection mechanism and strategies legally
- Sales strategies like promotional activities, training to Sales Personnel and fixing targets
- Co-coordinating with Administration, finance and Accounts team on all Retail finance related transactions and ensure accounting.
Chief Executive Officer
Vuga Boda Yo Ltd.
08.2019 - 11.2022
- Administering overall management of company in all functions, continuous training and monitoring the process flow
- Leading collection, credit, sales, accounts and finance, administration and operations functions monitoring its performance and constant training of policies
- Working directly with the managers to forecast project expenses and preparing budget report
- Prepared payment schedules, bank reconciliations, and monthly internal financial reports to assist managers with planning
- Proofreading and edited journal entries prior to posting to ensure accuracy, discovered errors which saved the company thousands of dollars
- Managed and supervised the day-to-day operations of the finance team
- Reviewing the P&L and balance sheet on a monthly basis as well as underlying account reconciliations to ensure integrity of the data and identify potential cost savings
- Producing monthly dashboard reports for tracking key performance metrics including profitability and utilization
- Instituting the financial and accounting policies & systems; establishing product line profit & loss statements to identify opportunities & risks; generating MIS reports and discussing the business plan with the Senior Management Team for corporate policy development for maximizing the profitability & revenue generation and realizing corporate goals
- Steering overall financial operations encompassing accounting, budgeting, reporting, consolidation of financial statements and so on; supervising all financial transactions, reporting and policies including budget & forecasting reports
- Strategizing project / product costing techniques; managing trial balance, profit & loss a/c, age-wise accounts payables & receivables
- Implementing internal control disciplines throughout the region towards maintaining integrity and accuracy of financial reports
- Conducting effective operational analysis and strategic recommendation for the company’s management team.
Deputy General Manager - Finance
Boda Boda Banja Ltd.
09.2016 - 07.2019
- Participated in company incorporation at Uganda
- Devised file movement process and funding policy, MIS reporting Structure - Daily, Weekly and Monthly
- Steered efforts in managing Taxation compliance, Profitable analysis, Expenses Monitoring, Setting up internal control, Audit Management and compliance, Variance Analysis reporting and Cost Reduction Management
- Administered all the financial and accounting activities
- Developed timely financial reports; adhered with the local government reporting requirements and tax filings.
Senior Manager - Credit & Policy
TVS Credit Services Ltd.
03.2015 - 08.2016
- Reviewed Used Car Policy and revise based on portfolio quality
- Conducted training on Used Car Valuation and Policy changes
- Administered profile approval up to 15 lacs
- Managed the underwriting of trade advance to dealers
- Extended Financial, Commercial and strategic support to business
- Prepared MIS from source data
- Presented monthly results, budget variance and ad-hoc analysis
- Participated in business planning, P&L, Balance Sheet and working capital management.
State Credit Head - Car Loans and Tractor Loans
Magma Fincorp Ltd.
02.2012 - 02.2015
- Administered collection - non-starters, early delinquent account and skip cases; managed FI Agency, CPA Agency, Valuators
- Managed business visits to dealers and customers to exhibit the companies’ brand and quality
- Used Car – RC limit management.
Senior Manager Credit & Policy - Car loans and Business Loans
Dhanalaxmi Bank
05.2011 - 02.2012
Manager Credit - Auto Loans
Reliance Capital Ltd.
09.2007 - 04.2011
Deputy Credit Manager - Car Loans, Personal Loans and Two-Wheeler Loans
HDFC Bank
02.2006 - 08.2007
Branch Manager
Cholamandalam Investment & finance Co. Ltd.
10.2003 - 01.2006
Senior Officer – Accounts
Aptech Ltd.
08.1997 - 09.2003
Education
CA Intermediate -
Institute of Chartered Accountant of India
CWA Intermediate - undefined
Institute of Cost and Works Accountant of India
B.Com. - undefined
Loyola College, Chennai
Skills
Strategic Planning
Finance & Accounts
Collections/Credit Management
Reporting & Documentation
Internal Finance Control
Business Management
Trainings & Knowledge Transfer
Administration & Operations
Team Management
Underwriting
Reporting Key Result – Management Information System
Advanced Features of MS-Word, MS-Excel, MS-PowerPoint
Experience in using Tally Package, SAP
Experience in using Loan Origination system (LOS) and Loan Management System (LMS)
Certification
Advanced Diploma in Computer Integrated Management (Finance) - Certified by Indianapolis – U.S.A
Personal Information
Date of Birth: 07/22/73
Languages
English
Tamil
Timeline
Retail Finance Head
Mantra Motorbike East Africa Ltd.
11.2022 - Current
Chief Executive Officer
Vuga Boda Yo Ltd.
08.2019 - 11.2022
Deputy General Manager - Finance
Boda Boda Banja Ltd.
09.2016 - 07.2019
Senior Manager - Credit & Policy
TVS Credit Services Ltd.
03.2015 - 08.2016
State Credit Head - Car Loans and Tractor Loans
Magma Fincorp Ltd.
02.2012 - 02.2015
Senior Manager Credit & Policy - Car loans and Business Loans
Dhanalaxmi Bank
05.2011 - 02.2012
Manager Credit - Auto Loans
Reliance Capital Ltd.
09.2007 - 04.2011
Deputy Credit Manager - Car Loans, Personal Loans and Two-Wheeler Loans
HDFC Bank
02.2006 - 08.2007
Branch Manager
Cholamandalam Investment & finance Co. Ltd.
10.2003 - 01.2006
Senior Officer – Accounts
Aptech Ltd.
08.1997 - 09.2003
CA Intermediate -
Institute of Chartered Accountant of India
CWA Intermediate - undefined
Institute of Cost and Works Accountant of India
B.Com. - undefined
Loyola College, Chennai