Deepesh Modi - Revised

Mobile: +254 722 666 006 | Phone: +254 733 720 100 | Email: dmodi21@yahoo.com
Address: Ganesh Appts., Flat B6, Gate B, Showground Road, Nyali, Mombasa, Kenya.
DEEPESH MODI
Senior Management Finance & Commercial Professional
Top and bottom line focused Finance and Accounting professional (ACCA) with more than 17+ years of
successful career spanning across varied sectors ranging from Logistics and Shipping, Food and Beverages,
FMCG, Diversified group, Automobile distributors in Kenya. My expertise has been into:
 Strategic Financial Management and Control
 Financial Planning, Forecasting and Modelling
 Accounting and Financial Reporting
 Systems Development and Internal Control
Monitoring
 People Management and Development
 Business Strategy and Development
 Credit control /Debt Management
 Accounts Receivables / Payables Management
 Auditing and Taxation
 Payroll and Asset Management
 Inventory Management
 Treasury and Cash Flow Management
 IFRS and other International standards
WORK EXPERIENCE SUMMARY:
KEY HIGHLIGHTS:
Increase in
Productivity
Designed and implemented accounting policies and procedures including preparation of
Standard Operating Procedures (SOPS) and staff training, which improved efficiency levels and
company productivity by 40% resulting in minimum wastage and increased profitability
Internal controls &
risk management
Reported fraud and improved the internal controls and risk management processes in various
companies.
ERP
Implementation
Blueprinting, scoping and implementation of new ERP accounting system with successful
changeover and staff training within the budgeted time and costs.
Increase in profit
Created strategies to develop and expand existing customer sales, resulting in a 25% increase in
annual sales and 20% increase in annual profit
Increase in Cost-
effectiveness
Increased cost-effectiveness by 25% through compliance enforcement and implementation of a
rigorous quality and internal control system.
Reduction in
finance cost
Improved working capital cycles reducing the finance costs by almost 20% by reducing the
receivable days and increasing the payable days.
Internal Audit Achieved an internal audit score of 9. (1 being weak 10 being strong)
Increase in Profit
Restructuring of long terms loans from local currencies to foreign currencies reducing the
finance costs and increasing the profits by almost 12%.
Experience in managing and mentoring a large team.
Awarded employee of the month and received various merits for determination, hard work and
improved performance.
Mar'99- Apr '01
Semi-Senior
Management
Consultant and
Auditor
PKF Kenya
Apr'01- Sept'04
Leasing
Accountant /
Senior
Accountant
Simba Colt
Motors Ltd,
Kenya
Feb'05- May
'06
Group
Financial
Controller
Achelis Group
of Companies,
Kenya
May'06- Apr'07
Financial
Controller
Going Places
Limited, Kenya
Apr'07- Apr '12
Group Head
Finance
Deepa
Industries
Limited
(Tropical Heat),
Kenya
Oct'12- Jun'14
Financial
Controller
Milly Glass
Works Ltd,
Kenya
Jun'14- till date
Regional
Financial
Controller
I. Messina (K) Ltd,
Kenya

WORK EXPERIENCE DETAILS:
I.MESSINA (K) LIMITED
I.Messina (K) Limited's trading business is that of acting as Shipping Agents and provision of shipping related services for
the Principal Ignazio Messina & C.SpA, Shipping Company established in 1903, headquartered in Genova, Italy, providing
transportation to and from Southern Europe, Africa, the Middle East and the Indian Sub-Continent. It is one of the leading
Shipping Lines in the World.
Regional Financial Controller Since June 2014 – till date
Full responsibility for Kenya, Uganda and Tanzania Group Related Companies’ strategic planning,
development and leadership of the entire corporate finance and accounts, financial planning and analysis,
accounting, tax, treasury, budgeting, MlS and administrative functions through a team of qualified
professionals.
 Financial Management and Control: Reporting to management on business decision support and
financial leadership as well as issues relating to accounting policies and procedures; financial
management and control; planning and analysis, and IT.
 Financial Planning, Forecasting and Modelling: Co-ordinating and reviewing the preparation of
Group’s business plans, including strategic plan, annual operating plan, and interim forecasts. I also
evaluated proposed capital projects to ensure that projects are supported by a proper business case,
achieve desired financial returns, and are in line with Corporate and Division strategies and priorities.
 Accounting and Financial Reporting: Directing the establishment and maintenance of company’s
accounting principles, policies, and procedures in compliance with corporate policy, local statutory and
tax requirements. Directing the general and property accounting, cost accounting, and budgetary
control. Prepare and submit the group's monthly financial results, budget and quarterly rolling forecasts
and complete the reporting requirements to the principal company. Maintain the general ledger,
ensuring compliance with the International Financial Reporting Standards (IFRS). Cash Flows, Budgets
and Variance Analysis Reports.
 Forex, Treasury and Cash Flow Management: Managing liquidity in both local and foreign currencies
on a daily basis. Ensuring compliance with company’s treasury policy.
 System Development and Internal Control Monitoring:-Developing, implementing and maintaining
sound management controls to ensure compliance with overall company control requirements and
effectiveness of the system of internal controls. Promoting the finance function’s value-added business
partnership. Setting up systems and the framework for developing a value added finance function that
provides customer focused finance solutions to business problems. Demonstrating leadership in the
design of financial processes and controls so as to maximize quality, efficiency and effectiveness of
financial information.
 HR Management and Development, Payroll Management: Strong focus on people development and
continuously developing potential of staff through training. Appraising and counselling staff on
performance related issues to ensure productivity and retention of human capital. Managing payroll and
human resource management including maintenance of personal files and records. Managing
intercompany processes and monitored KPIs and staff appraisal processes.
 Supervision and providing guidance on the preparation of all the Principal-Agent Shipping accounts
which includes checking and verification of the Freight Collection Reports.
 Supervising and verification of the filing of vat returns and checking the calculation & posting of shipping
freight tax
 Handling Insurance portfolio, administration functions & legal matters and also manage medical and
group life insurance policy Covers / Management.
 Business Strategy and Development: In conjunction with the Managing Director, working closely with
management teams on strategic, operations, commercial and business development issues. Providing
strategic financial input on existing operations by constantly reassessing the key drivers of the business
to consistently offer better and differentiated services.

MILLY GLASS WORKS LIMITED
Milly Glass Works Limited is a Mombasa, Kenya based Container Glass and Table Ware Manufacturer. It is a leading
supplier to the Soft Drinks, Beverage and Liquor Industries in East Africa. Around 50% of the Products are exported. It
produces Containers for Carbonated Soft drink bottles for Coca Cola, Pepsi, and Flask Bottles for Diageo and other
Distilleries.
Financial Controller October 2012 - June 2014
Responsible for all accounting and financial activities for the manufacturing operations with major focus on
implementation of ERP and accounting systems, working capital management, audit, risk management and
internal controls, treasury and banking, MIS and management accounting.
Selected Highlights:
 Was leading the team which blueprinted, developed the scope, designed and implemented Sage Pastel
Evolution within the organisation.
 Improved the working capital cycle by reducing the accounts receivable repayments days from 145
days to 70 days and increasing the account payable days from 60 days to 90 days.
 Lead the internal audit team to identify the risk and implemented internal controls to mitigate risk.
 Instrumental in devising the budgets and forecasting mechanism and draw the 5 year business plan for
the business.
 Restructuring the borrowings as well as Insurance Port Folios
 Managed the corporate finance tasks including all financial, management and statutory accounting and
reporting.
 Payroll management for 300+ employee and overtime control.
 Asset management including insurance portfolio.
 Improved the company’s business relationship with bankers, financial institutions and other external
stakeholders.
DEEPA INDUSTRIES LIMITED (TROPICAL HEAT)
Deepa Industries Limited (Tropical Heat) was incorporated in 1988 and is a leading manufacturer quality spices & snacks.
The company has a total task force of 225 employees with an annual turnover of over Kshs 750 Million. It has been
awarded several credentials like SUPERBRANDS, ISO 22000:2005 & has been nominated by KMPG to be amongst the
Top 100 Mid-Sized Company in East Africa, amongst others.
Group Head of Finance April 2007 - April 2012
 Financial Management and Control: Aligned the business objective with department’s policies and
procedures and ensured compliance of the company's business in Kenya. Established and driving a ‘no
surprises' financial management and controls function. Integrating a commercial approach into control
and reporting function. Built a robust system which was in compliance with taxation system and other
statutory bodies.
 Financial Planning, Forecasting and Modelling: Developing an accurate short, medium and long
term financial forecasting framework. Formulating sound financial policies, procedures and systems to
ensure effective control and accountability. Co-ordinating and reviewing the preparation of business
plans, including strategic plan, annual operating plan, and interim forecasts. Providing appropriate
counsel and direction to ensure alignment with the company's strategies and objectives.
 Accounting and Financial Reporting: Preparation, Analysis and interpretation of financial and
management accounting statements, in line with the IFRS (International Financial Reporting
Standards). Overall in-charge of all audits and ensuring that the schedules and other reports are
provided in line with the International Financial Reporting Standards. Interpretation of financial reports
and assessing financial performance of the company. Effectively used ratio and variance analysis.
Meeting with local external auditors to review issues arising from audit work, audit effectiveness, and
management letter comments. Handling all statutory KRA Audits I.e. Income / Corporation Tax,
Investment Deductions, PAYE, VAT and Customs and Excise Audits without any problems. Liaising
with external auditors on corporate tax planning issues preparation, reconciliation and submission of
VAT returns. Ensuring 100% accuracy on all financial transactions and general ledger postings.
Effective credit/ debt management control reducing the debtor days from 125 days to 85 days. Effective
payables management reducing the payable days from 90 days to 60 days. Led the management team
to achieve positive operating results increasing the gross profit margins from 24% (2007); 26% (2008);
28% (2009) & 30% in 2010 while net profit margins of 3% (2007) to 9% in 2010, despite increased raw
and packaging material costs as well as an increase in global recession and economic inflation.

 Managing and reviewing of monthly Group Financial Performance reporting pack including income
statement, Statement of Financial Position (balance sheet), and cash-flow statement VS the budget and
reporting on variances. Co-ordinating the preparation of budgets, monitoring of implementation and
management of corrective action to ensure achievement of overall budget objectives. Directing
selection and implementation of new accounting software. Preparation and presentation of the annual
financial statements to the Board as well as co-ordinating the entire audit process with the independent
auditors.
 Systems Development and Internal Control Monitoring: Reviewing financial reporting systems and
processes. Preparation and Implementation of all individual Standard Operating Procedures (SOPs) for
every activity being carried out in various departments by each individual, within the organization which
led the Company in attaining the ISO 22000-2005 Certification. Developing and continuously evaluating
financial and operating metrics. Working with business divisions to calibrate metrics. To ensure existing
financial controls are strictly observed and reviewed to ensure existing relevance and subsequently
recommend improvements. Developing, updating and maintaining sound accounting procedures
systems and internal controls. Reviewing controls, accounting and reporting procedures. Addressing
and documenting any deficiencies or business productivity and efficiency opportunities.
 People Management and Development: Motivating staff by exercising sound management &
leadership skills & principles. Strong focus on people development and continuously developing
potential of staff through training and performance based bonuses. Appraising and counselling staff on
performance related issues to ensure productivity and retention of human capital.
 Business Strategy and Development: Working closely with management teams on strategic,
commercial and business development issues. Undertaking financial assessments and assisting in
driving business development including new agreements in existing markets, new Market expansion
and new products. Undertaking feasibility studies using economic data, company projections and
market share to determine acquisition and expansion opportunities.
 Treasury and Cash Flow Management: Evaluation of capital needs and optimizing the use of capital.
Liaisons with the Banks on Credit Facilities offered and negotiating the best terms and conditions.
Foreign Currency Transactions including Forward Deals, Hedging etc . Management of cash flow.
 Others: Signatory to the Bank Accounts, Payroll Management, Inventory Management and Control,
Asset Management including Insurance portfolio, overseeing Medical Scheme management Taxation
and Legal issues, Internal Auditing, Administration of all Labour Laws & Work Permits / Special Pass.
GOING PLACES LIMITED
Going Places Limited was a travel agency providing both inbound & outbound travel related Services with a total work
force of 45 employees and an annual turnover of Kshs 200 Million.
Financial Controller May 2006 - April 2007
Responsible for all accounting and financial activities for the operations with major focus on accounting
policies and procedures, strategic financial decision making, budgeting, taxation, auditing, payroll and HR
management, working capital management, commercial activities, risk management and administration.
ACHELIS GROUP of COMPANIES
The Head Office located in Bremen, Germany, consists of the following Companies:
o Achelis Kenya Limited – Dealing in Scientific and Medical Equipment
o Achelis Material Handling Limited – Dealing in Forklift Trucks and Heavy Earth Construction Equipment/
Generators / Security Equipments and other related products.
o Mc Leod & Co (EA) Ltd – Dealing in Leasing of all the above mentioned products.
The Group has a presence across East Africa in Uganda and Tanzania, operating with a work force of 150 people and an
annual turnover of over Kshs 500 Million
Group Financial Controller February 2005 - May 2006
Overall responsible for the Finance and accounting function for the group with the following key highlights:
 Carried out random audit checks and reconciliations on Payroll, Stock and Cash management modules
of the accounting system and verified and reported fraud to the Directors.
 Designed and implemented robust accounting system and procedures
 Streamlined cash flow and working capital for the group companies with strong control on debt
collection
 Assisted management team in decision making by interpreting various financial reports and financial
analysis. Developed process to generate all MIS reports on a timely basis.

 Represented company on external audits and to deal with all external stakeholders.
SIMBA COLT MOTORS LIMITED
Simba Colt Motors are the sole distributors of Mitsubishi and other quality branded Vehicles in Kenya. It is an Established
Motor industry consisting of over 250 employees and an annual turnover of over Kshs 5 Billion. Simba Corporation has
various other distributorships of other well-known Makes and Models.
Leasing Accountant/ Senior Accountant April 2001 - September 2004
Key Highlights:
 Worked with the systems department to implement the new software
 Involved in formatting and implementing departmental computerised accounts for the company,
 Timely submission of management accounts of a Sister company including trial balance, profit and loss
account and balance sheet, along with supporting schedules such as the debtors' list, creditors' list and
bank reconciliation.
 Timely management reports on the profitability of leased out and serviced vehicles. Successful
implementation of new procedures and controls.
PKF KENYA
Well known accounting firm
Semi-Senior Management Consultant and Auditor March 1999 - April 2001
Key Highlights:
 Offered Consultancy Services for over a year to Kencell Communications Ltd (Now Airtel), a leading
mobile network services provider, where we (HLB) had been contracted to set up their accounting
systems and procedures. We prepared management reports to the Head office in France taking into
account various
 Financial Reporting Standards.
 Conducted detailed statutory audits of small and medium sized companies including groups of
companies which consisted of manufacturing companies, IT and Communication Companies,
Educational Institutes, Partnerships and Sole Proprietorships.
 Prepared and submitted Income Tax Returns
 Corresponded with the Income Tax Department regarding client queries
 Prepared clients' payroll and worked in an integrative manner to test clients' payroll packages
 Prepared and interpreted management accounts
 Incomplete Book accounting
 Supervised stock takes
 Analyzed and prepared investment appraisal projects and cash flow forecasts
 As an audit trainee I was handling small audits with turnovers of Kshs 500,000/- while as a semi
senior I handled audits of large magnitudes ranging from turnovers of over Kshs 100 Million.
EDUCATION:
Professional Qualification: ACCA 2015
The Association of Chartered Certified Accountants (ACCA)
Jaffrey Institute of Professional Studies (JIPS- Momb) / Emile Woolf (UK) / Oshwal College (Nairobi)
Association of Business Executive (ABE) Diploma Level 1 1995
Oshwal College, Kenya
Association of Business Executives (ABE) Certificate Level 1994
Oshwal College, Kenya
PERSONAL DETAILS:
 Date of Birth: 21
st
December 1975
 Nationality: Kenyan
 Language Skills: English (Fluent), Gujrati (Speaking), Kiswahili (Speaking) & Hindi (Casual)
References will be furnished upon request

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