Cimar8 maapplicant enu_eng


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Cimar8 maapplicant enu_eng

  1. 1. Tomasz Stanisław Woliñski CIMA CONTACT ID: 1-1VIT3T CAREER PROFILE May 2010 1
  2. 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 2
  3. 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 3
  4. 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. 4
  5. 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. 5
  6. 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 6
  7. 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. 7
  8. 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 8
  9. 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. 9
  10. 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 10
  11. 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. 11