Adelia Vasquez
Makati
Summary
Results-driven Financial/Accounting/Administration/Audit Executive with extensive experience in general accounting, financial reporting (IFRS), GAAP, financial management/analysis, internal audit, Sarbanes-Oxley Act, cash management, business advisory, credit & collection, business planning, financial forecasting, inventory management, organizational re-engineering, cost accounting, staff management, taxation, systems analysis, and business startups. Proactive and visionary with a broad background in accounting and financial management across various industries including petroleum, manufacturing, trading and indenting, real estate, telecommunications, financial institutions, hospitality, airlines, among others. A consistent hard worker and self-starter with a strong focus on the future. Skilled in strategic formulation and problem resolution. Experienced in formulating financial and accounting systems and procedures. Demonstrates a hands-on management style in developing and implementing strategic plans to drive company growth. Possesses solid planning and organizational skills to effectively coordinate projects from start to finish. Proven team player and leader with business development skills. Excellent communication abilities. Demonstrates a track record of developing and maintaining strong business relationships with clients and customers.
Overview
32
32
years of professional experience
Work History
Chief Finance Officer
HARBOR STAR SHIPPING SERVICES, INC.
05.2013 - 04.2020
- Initially hired as consultant for the company's initial public offering but eventually had to render full time work to handle comptrollership, treasury and strategy and forecasting
VP Comptroller
FILINVEST LAND, INC.
09.2011 - 05.2013
- Accountable for the accounting operations of the company, to include the production of periodic financial reports, maintenance of an adequate system of accounting records, and a comprehensive set of controls and budgets designed to mitigate risk, enhance the accuracy of the company's reported financial results, and ensure that reported results comply with generally accepted accounting principles
AVP-Treasury & Financial Planning
ALPHALAND DEVELOPMENT, INC.
02.2010 - 09.2011
- Company Overview: (initially assigned in Eastern Telecoms Philippines, Inc., a related party, for acclimatization)
- Managed all day to day treasury dealing operations (cash management, foreign exchange and interest rate hedging activities), ensuring best practice is implemented and efficiency maximised
- Established and maintained a high standard for internal controls and the management of financial risk
- Undertook a pivotal role is the raising of new financing both through secured loans and operating leases
- Managed all banking related matters including letters of credit/guarantees, bank account and dealing mandates and credit limit monitoring and management
- Responsible for delivering: a) Monthly management accounts and business review packs, on time and with appropriate content; b) Insights into drivers of performance; c) Forecast and budget process; d) Costs closely managed within budget and forecast and savings opportunities identified; and e) Improvements in processes and tools
- Responsible for the financial analysis of the all major company projects and activities
- Key duties include researching new areas for business development and analyzing commercial activities
- (initially assigned in Eastern Telecoms Philippines, Inc., a related party, for acclimatization)
Project Accounting Services Head
FULTON HOGAN LIMITED
02.2008 - 02.2010
- This position was fully responsible for the entire financial cycle of New Zealand Transport Authority (NZTA) projects ($350M NZ $ & $250M NZ $) including the monthly claims processes, monthly external audits, reporting requirements, validation of alliance members' (NOP's) monthly claims and consolidation of monthly costs, in accordance with the established accounting standards and policies of NZTA as part of Fulton Hogan's role as the NOP member assigned to render accounting/financial services to the pool of contractors composed of FH, Leightons, VRS, URS, Boffa Miskell, Tonkin Taylor, among others
Consultant/Director of Controllership & Corporate Services
MANILA CONSULTING & MANAGEMENT COMPANY, INC.
11.1999 - 12.2007
- Assumed controllership, administration and other corporate support functions such as human resource administration, marketing, etc., as may be required by the client/s
- Major clients included a petrochem joint venture between British Petroleum and Petronas and the largest distributor of Pilipinas Shell, and other foreign-owned companies based in New York and California
- From time to time, rendered accounting and/or tax services to clients' offices in New York and California
- Prepared clients' financial forecast and reports required by the petro-chemical joint venture's (British Petroleum and Petronas) creditors specifically the International Finance Corp (IFC); Coordinated/participated in special projects including petrochemical business reengineering, capital reconciliation for real estate joint ventures, consolidation of real estate joint venture, analytical review of real estate operations, and emerging accounting issues like Sarbanes-Oxley Act
- Based on the risks, nature and complexity of business and processes, developed audit programs, organized audit engagement and led audit team until the final report phase of the engagement; Sarbanes Oxley team member for a mortgage securitizations financial institution
- Participated in financial and operational aspects of clients' business planning and development
- Finalized budgets and/or project feasibility studies
- Assessed client's environment, cost and benefit factors, participated in the design of information system, recommended available and affordable technology in the market
- Designed, documented and led implementation of clients' accounting systems and procedures giving emphasis to controls
- Designed process flows, forms and reports, supervised data set-up and parallel runs during migration of clients from an old system to a new accounting software package
- Key Clients Serviced: British Petroleum (BP Amoco) and Petronas of Malaysia joint venture, New York and California-based companies in service and real estate industries; Pilipinas Shell major distributor; brokerage and freight forwarding companies majority-owned by US based corporations
AVP for Internal Audit - Mondragon International Philippines, Inc. (Parent Company)
MONDRAGON GROUP OF COMPANIES
10.1997 - 04.1998
- Tasked with the overall management of the department, the position called for ensuring that all audit objectives for each project were met
- The position also entailed facilitation of several special audit projects requested by the audit committee headed by the Chairman of the Mondragon Group
- As a newly-created department, the group was easily recognized as a constructive force and not merely as a necessary evil or management's watchdog through sound audit objectives, effective audit programs and accurate and fair reports
- The department caused several major structural revamps and procedural changes after only about three months from its creation
- The AVP for Internal Audit also spearheaded the formulation of the conceptual framework for the Corporate Services Division, a division conceptualized by the Chairman and Vice-Chairman of the Company during the major reorganization in 1997
AVP for Operations - Mondragon Fashion Express, Inc.
MONDRAGON GROUP OF COMPANIES
07.1996 - 09.1997
- Tasked with the management of branch operations, inventory management, warehousing and distribution with the objective of providing sales division with the needed field support
- Thus the position required close coordination with sales, marketing and finance as the responsibility entailed maintaining the critical balance between customer service, receivables management and company profits
- The position also called for handling the disposal of slow or non-moving stocks and other sales or income-generating efforts
- Intensified collection efforts through judicial processes and stricter credit and collection policies to address the company's major receivable challenges
- Improved systems and procedures and introduced structural and personnel movements for smoother branch operations
- Initiated the disposal of slow-moving inventory and spearheaded some revenue-generating efforts within a short period of time
Finance Manager/Operations In-Charge
CONSUMER SPECIALISTS, INC.
11.1993 - 06.1996
- For the first year, the position took charge of managing financially related activities
- Major functions were treasury, accounting, tax administration, financial reporting and evaluation, formulation and implementation of accounting policies, systems and procedures
- In August 1994, the responsibility of overseeing two other major divisions - the Cosmetics group and Administration (including Operations) - was added after a series of personnel movements
- The Cosmetic function involved the objective of delivering products to subsidiaries at the best price, at the right time and at accepted quality standards
- The Administrative function focused on inventory and asset management, building administration and coordination with Mondragon's central HRD unit for recruitment, personnel training and salary administration
- Set up the company's accounting policies and procedures regarding transactions with its trading subsidiaries
- From 1993 to 1995, CSI was able to surpass its profit objectives inspite of the decline in volume orders from Mondragon subsidiaries and the pricing restrictions set by the parent company
Audit Executive
SYCIP, GORRES, VELAYO & CO., Certified Public Accountants (Member, Ernst & Young Global)
12.1987 - 10.1993
- Planning, organization and implementation of audit plans for regular and special audit assignments
- This includes: a) general review and preliminary evaluation of clients' business, accounting systems and internal controls; b) identification, assessment and resolution of audit issues and business risks; c) preparation of audit work programs; d) preparation and monitoring of time budget; e) job management; f) review and organization of audit working papers; and g) review and finalization of audit reports
- Evaluation of strengths and weaknesses of clients' accounting system and internal controls, review of compliance with established policies and procedures, reporting of exceptions, resolution of exceptions with clients' operating units and recommendation for improving and enhancing the system
- Assisting clients in the preparation of reports required by regulatory agencies, such as the Internal Revenue and Securities and Exchange Commission
- Training of new field auditors on the firm's audit methodology, business practices and financial accounting standards
Education
Bachelor of Science - Commerce major in Accounting
NZQA Level 7 (accredited as top three tertiary education institutions in the Philippines)
Post Graduate units - Financial Management
Skills
- Pro-active and results-oriented with broad experience in all aspects of accounting and financial management in various industries
- Consistent hard worker, self-starter, and visionary
- Experienced in Strategic Formulation
- Problem and crisis resolution skills
- Experienced in financial and accounting systems and procedures formulation
- Demonstrated hands-on management style
- Solid planning and organizational skills
- Proven team player and strong team leader
- Business development skills
- Effective communication skills
- Proven track record in developing and maintaining business relationships
Accomplishments
I. Harbor Star Shipping Services, Inc.
(Reference: Daisy Sta. Maria- Treasury Manager- +639988460986)
· Reduction of Loan Interest Rates from 8%-9.5% to 4.5%-7% applied to Harbor Star’s (HSSSI, hereinafter) April 2013 loan portfolio of Php 800M - equivalent savings of 2% or Php 16M.
· Increase of HSSSI’s (& subsidiaries) credit line from Php 800M to Php 4.45B.
· PCAB Accreditation & securing construction contracts totaling Php 1.1B.
· Smooth migration of Sales including Credit & Collection (with the cooperation of C& C team) from manual to SAP & improved collections by 10 business days
· Improved HSSSI’s financial statements using Generally Accepted Accounting Principles for IPO Valuation (by KPMG) thus increasing price per share from Php 1.32 to Php 1.88 -equivalent to additional funding of Php 101.7M. (The 2013 press releases of Php 2.50 to Php 3 plus per share prior to the IPO were just grandiose claims by the Investors Relations Officer)
II. Other Funding Arrangements:
· Matuno Hydro Power Plant - Php 1B
· Taft Hydro Power Plant- Php 1B
· Astronergy Gensan Power Plant - Php 1.65B
· Alphaland Development (despite the former Chairman’s claim BDO would not grant us loans)- Php 1.5B
III. Business Development Efforts
(Reference: Narciso Cauguiran, Jr. – China Shenyang International Technical & Economic Cooperation - +63 917 830 3052)
· Assisted in the negotiations with Timor Leste Government for a Tertiary Hospital Project (USD 100M) & Tourism Project ($ 150M)
Timeline
Chief Finance Officer - HARBOR STAR SHIPPING SERVICES, INC.
05.2013 - 04.2020
VP Comptroller - FILINVEST LAND, INC.
09.2011 - 05.2013
AVP-Treasury & Financial Planning - ALPHALAND DEVELOPMENT, INC.
02.2010 - 09.2011
Project Accounting Services Head - FULTON HOGAN LIMITED
02.2008 - 02.2010
Consultant/Director of Controllership & Corporate Services - MANILA CONSULTING & MANAGEMENT COMPANY, INC.
11.1999 - 12.2007
AVP for Internal Audit - Mondragon International Philippines, Inc. (Parent Company) - MONDRAGON GROUP OF COMPANIES
10.1997 - 04.1998
AVP for Operations - Mondragon Fashion Express, Inc. - MONDRAGON GROUP OF COMPANIES
07.1996 - 09.1997
Finance Manager/Operations In-Charge - CONSUMER SPECIALISTS, INC.
11.1993 - 06.1996
Audit Executive - SYCIP, GORRES, VELAYO & CO., Certified Public Accountants (Member, Ernst & Young Global)
12.1987 - 10.1993
De La Salle University - Bachelor of Science, Commerce major in Accounting
Massey University - Post Graduate units, Financial Management
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