1. Tomasz Stanisław Woliñski
CIMA CONTACT ID: 1-1VIT3T
CAREER PROFILE
May 2010
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2. Background
For the past four years I have been working at UPC Poland. UPC Poland
is a subsidiary of UPC Broadband Plc, Liberty Global Group, created as
strategic business unit, marketing its services on the Polish market. UPC
Poland is the largest cable television provider in Poland with a market
share of 23% in the highly diversified and competitive domestic cable
market with over five hundred operators.
UPC Poland major highlights in 2009: Turnover EUR 200 million, 1,060
employees, major services: Digital and Analogue cable television,
broadband Internet and VoIP telephony services. Unit is fully dependent
as a subsidiary of UPC Broadband in both financial and legal terms.
Detailed record of experience
UPC Polska Sp. z o.o. (UPC Poland Ltd)
Position: Leader of Financial Analysts’ Team Aug 2008 - current
Position: Senior Finance Analyst Apr 2007 – Jul 2008
Reporting to the Financial Reporting and Planning Manager, I am the
leader of financial analysts’ team responsible for daily sales reporting
growth and accumulated statistics by services, covering all movements
within the subscriber’s database, monthly accounts reporting,
forecasts and business plans regarding the Polish UPC entity. Within the
scope of my specialization I am responsible for period sales and
marketing expenses evalution and variance analyses.
Core (18 months): Managing and coordinating of financial analyses (Product and Service
costing and Project appraisal)
I am responsible for organizing and delivering financial analyses to the
Management Board and Senior Directors together with implementation
of the control and planning tools aimed at supporting internal business
operations. The second major scope of activities covers performance
optimization in cost area including pre-launch sales promotion
evaluation and operational cost optimization. A planned sales promotion
is screened for pre-defined performance ratios (in the self developed
valuation model) having input ranging from period of promotion, price
discounts on the subscription or/and installation fees and additional
service package (bundling) discounts. Apart from the revenue stream,
direct costs relating to the services offered (eg. programming fees on
the delivered TV channels) together with operational costs of customer
care, billing, and technical operations as well as investment in customer
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3. premises equipment and related labour are assessed and profitability
evaluated.
Support cost optimisation projects include technical operations’
assessment for example: technical service and maintenance checks at
clients’ premises, post-implementation analyses of sales promotions in
relation to operational performance and payback not exceeding the
initial contract period relating to any signed promotion by subscribers.
Other financial analyses, I coordinate work on, relate to customer
retention effectiveness. The focus is on paid retention commissions in
relation to calculated contribution profit on prolonged customer loyalty.
Retention specific offers and effectiveness ratio defined as the success
in clients’ renewing the contract after contacting client and placing
retention offer. Such analyses are based on the incremental approach in
revenue and cost calculation, whereby all the cash-flow streams
assume customer lifecycle of a predefined period of 12-36 months
dependant on type of promotion offer.
Relating to recent analysis I performed and controlled was the
impending change of telesales commission which replaced old
price/volume scheme with a sales performance internal benchmark
based on ‘service installed per call received’ ratio. Other analyses I
coordinated on included the structuring of sales provisions which took
into account revenue growth potential of the new sales. Most of the
assumptions to promotion modelling I agree with Sales Promotion
Manager. The KPIs cover duration, discount and range of package of
services.
On a regular basis my team of three analysts perform supporting data
calculations and analyses with retrieval of recoded data from the billing
system, applying the enquiries to the corporate MIS (Hyperion based
solution). I supervise team members to prepare background information
on a required area of focus with sensitivity analysis on chosen variables,
such as the effectiveness of retention activity under the new proposed
commission scheme.
One of the most significant part of the project evaluation I introduced
related to business-to-business (B2B) services which I develop in
cooperation with the network and sales managers. The model allowed
B2B account managers to know cash flow return on a given business
service to be offered with minimum information input related to offered
price, sales volume, month of service launch and non-standardized
investment and expenses incurred such as an optic fibre build out or
lease of the duct network from third parties. The model has been placed
on the intranet and helps B2B account managers in their daily routine of
offer evaluation.
Basic (4 months): Monthly Accruals and Journals
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4. I am responsible for calculating and posting of monthly sales
commission accruals in relation to new sales accounts defined as a new
or renewed installation made at the customer premises during a month.
This involves liaising with Sales Regional Managers and Sales Director to
establish a workflow that has been carried out, the binding commission
fees for each service per any sales channel. The accrual on sales
commissions are further compared with the latest months’ costs and
agreed rates. A significant variances to latest months are explored by
an analyst from my team and discussed with the Sales Managers.
Apart from management accounting for sales I have a responsibility in
monthly accruals’ management for the business development
expenses. Any new B2B project requires often a detailed market
research, training and IT/IS costs relating to UAT and pre-launch testing.
All the above expenses have to be accrued on the monthly basis. The
received invoices and accrual releases complete the month-end
workflow on these activities.
Core (6 months): Forecasting and Budgeting
An annual budget and two interim forecasts are prepared each year for
UPC Poland by a team of analysts and controllers in Finance Deparment
I am a part of. The forecasts are prepared after March and July, building
in respectively nine and five months’ estimates to year end which
accomplish budget estimates. Taking into account forecast process, I
am personnaly responsible to question planned costs based on the
most recent months’ cost structure and their trend. I attend scheduled
meetings with Sales Director and his subordinate employees. This
involves a review of current expenditure and work completed, pending
and planned promotional campaigns, new services to be launched or
planned significant modification to the existing services and loyalty and
retention promotions. The modification in services relate mostly to
Internet speed upgrades or new tariffs in voice services. A revised year-
end forecast is agreed upon with marketing and sales directors and I
am partly involved in timely update of a corporate planning and
budgeting reporting (Cognos). The resulting outcomes as the final
reports from the budgeting system serve an external corporate financial
and management reporting done via corporate EIS (Hyperion Financial
Management). The particular focus is put on the accuracy and
timeliness of reported data, which should be to agreed corporate
schedule.
Further on, I take part in consolidation of the final submissions of pre-
defined reporting package which includes financial profit statement,
statement of the financial position, detailed intercompany transactions
and subscriber’s statistics in the required format. Recent development
of the reporting package included customer premises equipment and
their logistics movement combined with the offer ordered by a
subscriber.
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5. I am responsible also for the sales volume, price and commission fee
data relating to business services, which are discussed and
implemented to the internal planning and budgeting system. Other
assignments cover direct and indirect costs, volume of sales, connected
and disconnected units (as technical installation), unit pricing and
discount (per defined service), promotions scheme for business related
services (B2B).
Core (6 months): Management Reporting
Management reporting constitutes of the monthly schedule of the major
revenue and cost comparison reports to budget and recent forecast
assumptions. As my team is focused on the sales and marketing
expenses as well as the business services and their development, I am
in charge of analyses relating to respective focal areas.. The monthly
and year-to-date variances to the forecast and budgeted costs are
evaluated in terms of price / volume analysis. Such analyses base on the
unit commission cost and volume of installed service in relation to sales
channel and service offered. I summarize the conclusions and complete
report with the variance explanation based on the sales department
feedback on any unbudgeted expenses if they occur.
The business services are relatively new services offered by UPC
Poland. Their analysis is given the special attention by the senior
directors. The reporting scheme I developed, include price, volumes,
revenue , gross margin, operational expenses and investment costs
reported on a monthly basis.
Drawing on analytical skills and a sound knowledge of spreadsheets and
databases, I developed also an automated report containing financial
schedules, price volume analysis and a series of graphics to help
visualise B2B performance.
As part of the reporting responsibilities, I am engaged in explaining sales
and marketing cost incurred during a particular month in an internal
reporting package predefined on the broader (European) scale of
operations of UPC Broadband.
Other area of the analyses, I manage on, cover sales promotion with
focus on revenue and potential sales additions. The revenue is subject
to the promotions’ discount policies with the virtually infinite number of
product package configurations and applied package discounts. The
model, I was personally responsible to develop, assumes a broad
number of mostly chosen package (bundling) configurations through
which I help with simulation of the business reality mirrored on billing
system perplexities. The final report describes the promotions mostly
taken by subscribers and assesses their financial impact on the forecast
and budget revenues.
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6. Supplementary (2 month): Ad-hoc work
I am a point of contact for the new service development for finance
controllers and finance managers in UPC Poland. On a day-to-day basis,
I deal with delegation of tasks including queries on the general ledger,
looking at specific projects, identifying mis-coded costs and if necessary
moving them to the correct location. The variety of one-off assignemtns
also cover ad hoc project reports and financial information on the
financial viability of a chosen set of client or product group. I provide
advice to non-finance people on billing and financial codes, cost
centres, and give advice on running reports in financial and accounting
system (Sun).
Supplementary (2 month): Recruitment and selection of subordinate employees
I recruited and managed two work placement on the vacancies which
were created in course of 2009 and early 2010. This involved analysis of
CVs, cover letters, writing selecton test, setting areas of competence
for the recruited positions. After successful selection, I personally care
for reporting staff’ workflow, their monitoring work and in-job trainings
in relation to organizational knowledge, business modelling and project
evaluation and costs’ appraisal using available IT/IS applications.
Position: Finance Analyst Jan 2006–Mar 2007, Business Development Department
Supplementary (9 months): M&A activities / Business evaluation and appraisal
During the first 15 months of my employment with UPC Poland I was a
team member of the Business Development Unit responsible for a broad
range of M&A and internal benchmark analyses. My assignments
covered financial due diligence performed on potential target companies
including: Polish ISPs, local cable network operators and a triple play
provider (integrated television, Internet and telephony). Performing the
above assignments I worked individually reporting directly to the
Business Development Director and based my work on
interdepartmental coordination of M&A project team, including
interactions with Sales, Marketing, Customer Care, Network and IT
specialists.
Major projects included a Polish local cable television operator in
Inowroclaw, fourth largest cable television operator, Chojnice (based in
North Poland) regional cable television provider and a Wroclaw ISP, that
was part of the local power supply provider. In most of the M&A
transactions, I was responsible for preparation of the following
documents: short briefs on targeted company, based on data-room
inquiries, financial and operational data on available sources (also
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7. including Internet search), specific commissioned reports, own gathered
information, data consolidated during business modelling, information
gained at meetings with the senior managers of the targeted company
which often clarified potential lack of information gathered from other
sources. Subsequently, I prepared competitive benchmark analyses of
prevalent M&A transactions using Internet and news agencies
interrogation on the latest M&A price considerations and assets
involved. The business modelling and valuation I based on the final
outcomes of financial and legal due diligence. The financial due
diligence, the projects of I often co-led with the Business Development
Director, consisted of revenue recognition, reconciliation of receivables
with billed revenue and bank account receipts from target company’s
clients. Other area of focus included the operational and investment
expenses, working capital movements, off-balance sheet provisions
and liabilities. The final part of M&A projects covered business valuation,
cost synergies’ estimates and recommendation of transaction mode
and integration planning . The final work I prepared in form of
presentation to corporate investment committee or directly to the
Management Board of UPC Poland.
Supplementary (5 months): Internal valuation of UPC Poland / Business strategy and
External Relationships
It was a one-off, five months’ long assignment concerning valuation of
UPC Poland as a standalone entity for the purpose of group reshuffle
that had additional impact on Polish corporate tax. I was primarily
responsible for the preparation of the cash flow model including all
historic data including cash flow, balance sheet and profit and loss
statements, having excluded all group intercompany transactions. The
projections for the forecast five years I worked out based on the
corporate long term business plan (long range planning model) and
budget guidelines. Some of the information was readily available from
interactions with corporate analysts from the Netherlands, the mother
company of UPC Poland. I finalized the work with the detailed
assessment of model assumptions and results audited by the external
consultants from Deloitte. The final valuation outcome served as the
basis of the internal group purchase transaction having influenced the
intergroup loan level and impacting on the tax relief gained by the
additional finance costs.
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8. Netia S.A. (Netia Plc)
Largest alternative local telecommunications operator in Poland with 1
million subscribers, 600,000 Internet broadband customers and
revenues of EUR 250 million (2009)
Position: Senior Specialist in Business Analyses Sep 2002 – Dec 2005, Finance Department
Reporting to the Business Analyses Manager, I was part of a finance
controlling team responsible for budgeting and management reporting.
My area of responsibilities lay in Activity Based Costing (ABC). The ABC
process I was involved in covered the coordination of monthly data
gathering, managing on costing model calculation within the defned IS
system and quarterly commentary reports summarizing major findings
and giving appropriate recommendation.
Core (30 months): Activity Based Costing – accounting and reporting
I was introduced to activity based costing methodology from the
beginning of the employment on this position. As newcomer to ABC area
I took the active role in the cost driver redefinition and profitability
measures to be presented with the major strategic KPIs to Finance
Director and Netia Management Board. The ABC accounting focussed
on the broad range of operational and business processes which gave
me the opportunity to work with raw and partly processed data. The
sources combined various database systems, for example billing
system data (Geneva), Excel prepared timesheets on corporate intranet
using a propriatery solution prepared in cooperation with Lotus Notes
specialist from within the company. My assignments included monthly
schedules of reported time per defined time sheets which have been
completed by all managers in the company. Such a tool I managed to
reorganize from prior excel based, mail forwarded communication letter
into the developed OS Lotus Notes database which contained all the
past periods’ data and the information retrival was enhanced by the
data reporting generated automatically. This last feature enabled a
significant time saving on data processing and resulted in non-eror
reporting mechanism.
Other cost drivers dependant on the processes network, customer
case, interconnect and billing to name a few required additional volume
and cost data. They were accessed by the team of analysts and
reported to me for the purpose of model data consolidation. The
calculation of all parts of ABC model, including general ledger and sales
resources were converted into the activities perspective and
subsequently into the business objects perspective through the defined
cost drivers and allocation scheme. Using the retrieved data from the
specified information system I used the SQL Enterprise Manager
application to summarize the most relevant cost and volume information
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9. for senior managers and department specialists. The final outcome of
the analysis was a quarterly report which I prepared with the assistance
of two other analysts and distributed to the senior management.
The ABC model structure I was updating each year based on the
detailed network and operational audit performed during meetings with
planning and network managers.
Before leaving the role, I wrote a comprehensive set of guidelines for
both the report users and analysts who would prepare the monthly runs
of ABC model to complete a successful handover process.
Core (7 months): Financial and Management reporting
As the specialist in Business Analyses I prepared and reported on a
monthly basis cash flow with focus on working capital, investment
expenses and financial requirements. With special attention I treated
receivables and liabilities turnover ratio calculation having excluded one-
offs’ events which was coordinated with the head of financial
accountants. The cash-flow reporting involved also detailed
interrogation of the general ledger and movements reconciliation of
items including inventory, debtors and creditors.
For the purpose of the monthly management reports I proposed and
successfully implemented the ABC shortened report excluding the
details of company overhead and indirect expenses which were further
explored in the quarterly reporting. Apart from the revenue variance
analysis, the direct costs of the telecommunication interconnect was
analysed in the perspective of the pre-defined voice connection types
and network related processes and compared to the established key
performance indicators based on the predefined cost volume demand
ratios. The presentation of the ABC model results involved regular
meetings with senior management and the finance director in order to
ensure that the ABC report content provided useful information in a
suitable and understandable format.
Core (3 months): Budgeting and forecasting consolidation
I was responsible for consolidating the budget submissions from all
areas of the company. This involved extracting submitted budgets for
each department from SAP system and producing a picture for
comparison to control totals. Where differences occurred, I would flag
these with the appropriate manager.
A similar process was carried out on a quarterly basis for forecasting. I
would extract forecast figures from the system, compare to the
previous month, and where necessary, find out the reasons for any
forecast movements. Any forecast figures I compared to the final
budget assumptions and any variances explored with the appropriate
managers.
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10. Position: Finance Analyst Apr 2002 – Aug 2002, Finance Department
Reporting to the Finance Director, I was responsible for coordination on
new services implementation in financial accounting and reporting as
well as intercompany transfer pricing settlement on the IP based
services’ expenses.
Basic (3 months): Coordination of new services implementation (Systems and Procedure
Development and Risk Management)
I was taking part in project meetings relating to new service
implementation from development to commercial launch having liaising
with network, sales and legal managers on the definition of the new
services . Having the knowledge of the services to be launched I
coordinated the work and delegated project tasks to the appropriate
divisions within Finance Department, among them tax specialists, billing
and revenue assurance specialists, financial accountants, treasury and
finance controlling managers. During the scope of enquiries I gathered
as feedback from finance team I was presenting on the
interdepartmental project meetings with the finance representative
function. Then I get also acquainted with ABC model structure in Netia
which allowed me to propose follow-up modification and cost
contribution links verification for new services in this model. The
knowledge was enhanced during my further employment and
specialisation on activity based costing methodology.
Core (2 months): Intercompany accounting and reporting
During six month employment as Finance Analyst I was responsible for
reporting and accounting for the group intercompany transactions. The
Internet protocol based services’ among them Internet broadband,
Virtual Private Network and Frame Relay services expenses covered by
the mother company Netia S.A. had to be accounted to the Netia
subsidiaries in relation to the physical network infrastructure location,
length of link and capacity used. The network information on physical
length of fibre and the equivalent of broadband capacity I was acquiring
on the monthly basis in cooperation with network specialists. Having
completed the billing data and network related data I was preparing the
monthly information on the existing Internet services and calculated the
relevant transfer prices to be debited on the particular subsidiaries’
accounts.
Position: Merger and Acquisition Analyst Apr 2000 – Mar 2002, M&A Department
Supplementary (24 months): Mergers and Acquisitions valuation and due diligence
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11. My job responsibilities related to M&A activities focussed on the financial
and operational analyses of Polish ISPs, Internet website companies and
fixed telecom operators with particular stress put on valuation of the
companies. The background information I used came from observing
impending merger and acquisition activities among ISPs and
telecommunications companies in Poland in terms of the agreed
purchase considerations, scale of assets and operations involved, time
of transaction and the acquisitions partners. The major job assignments
during the full-blown acquisition project covered preparation of relevant
transaction correspondence letter of interest, exclusivity agreement,
and pre-acquisition agreement and getting them signed by the
appropriate senor management. After initial approval I was taking part in
meetings with the acquisition companies’ finance representatives, co-
organizing financial due diligence, as well as having final share purchase
agreement interrogated with Polish anti-trust office procedures.
Preparation of final presentations and report of the undertaken
transactions to management board belonged to ambitious challenge
due to scope and dearth of senior individuals’ requirements. After two
years of succesful work with two approved business acquisitions I had
to change the acquisition activities following the department dissolution
at the beginning of Apr 2002.
Jan 1999 – Jan 2000.
A one year break from Netia employmet caused by student interchange
programme in Sweden (at Lund and Umea Universities).
Position: Network Planning Specialist, Mar 1998 - Dec 1998, Marketing Department
Basic / Supplementary (5/5 months): IT desktop skills and External Relationships
Reporting to Marketing Manager I was preparing the market analyses
relating to potential telecommunications investments. I used extensively
databases applications Access, SQL queries to interrogate and collate
the required data on prospective geographical locations, residential and
business market potential, services available to and still demanded. As
one of the achievements during the initial employment period I managed
to successfully undertake market desk research on telecommunication
services including over 300 telephone calls directed to country scope
clientele, self executed with gathered researched opinion of Polish
incumbent company TP S.A. customers on the service quality and
potential demand for new services. The results of the research I
presented to company senior management during one-day conference
in June 2008.
During my time in this role I developed my computer literacy skills to a
good standard through the use of databases, spreadsheets,
presentation packages and word processing programmes.
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