Arvind Rai
Chicago,USA
Summary
Chief Financial Officer with over two decades of extensive experience in finance strategy and operations across diverse industries, including manufacturing, services and Healthcare. Demonstrates expertise in risk management, financial reporting, and M&A, with proficiency in platforms like SAP, Salesforce and Planful, driving process efficiency and strategic growth. Committed to aligning financial objectives with business goals to enhance profitability and operational excellence.
Overview
22
22
years of professional experience
1
1
Certification
Work History
Vice President, Chief Financial Officer
SOL-MILLENNIUM MEDICAL GROUP
Chicago, USA
01.2020 - Current
- Transformed global finance and controller functions by overseeing treasury, tax, risk management, legal, internal controls, and compliance across jurisdictions. Launched an offshore Center of Excellence to centralize finance operations, boosting efficiency and minimizing risk.
- Optimized financial operations by implementing and integrating key platforms-including SAP (ERP), Planful (FP&A), Salesforce (CRM & revenue forecast), Shopify (e-commerce, O2C), Procurify (Procure to Pay), Expensify (T&E), and Power BI for real-time data visualization. These enhancements improved process efficiency, reporting accuracy, and decision-making, while also advancing budgeting, long-term planning, and forecasting capabilities.
- Led IPO readiness efforts with bankers and auditors, securing $6M in annual interest savings through preferred stock redemption. Directed capital raises and investor buybacks, spearheaded M&A activities with investments in new technologies to drive growth, and managed post-investment integration to maximize operational synergies.
- Established new credit facilities in multiple jurisdictions, improving liquidity and supporting the company's growth and expansion. Managed working capital and financial operations for global scalability.
- Led the preparation of financial statements, securing the company's first audited financials. Overcame audit challenges, ensured SOX compliance, and implemented enhanced financial reporting systems to improve efficiency and transparency. Streamlined the month-end close process for timely reporting and established strong Internal Controls over Financial Reporting (ICFR).
- Spearheaded the establishment of new legal entities in the UK, France, Spain, Japan, Canada, and Mexico, including tax structure implementation, SAP system, and local compliance. Designed and implemented a comprehensive global insurance and risk management program addressing product liability, D&O, cyber, and more.
- Executed a company-wide cost reduction strategy, reducing operational expenses by 30% while maintaining satisfaction among internal and external stakeholders. Led a global transfer pricing study that resulted in millions in annual tax savings, designing an intercompany framework with Big Four consultants.
- Negotiated new service contracts, delivering $4.5M+ in annual savings and ensuring smooth transitions between service providers. Optimized vendor relationships to align with business objectives and enhance cost-efficiency.
- Launched an eCommerce platform and streamlined customer onboarding, expanding sales across major platforms like Amazon, Walmart, Alibaba, and Allegro. Introduced new sales channels, including GPOs and acute/non-acute care, while establishing governance frameworks for chargebacks, rebates, and pricing models.
- Reorganized operations into specialized Business Units-Diabetes Care, Medication Delivery, Advanced Wound Care, and Medical Supplies-to sharpen focus on growth and profitability, improving operational accountability.
Regional Head - Assurance Services (North & South America)
ARCELORMITTAL
Chicago, USA
01.2015 - 01.2020
- Directed the Assurance function for operations with a $25B+ in revenue, elevating financial governance, regulatory compliance, and internal control optimization. Championed the development of KPIs and advanced data analytics, significantly strengthening risk management, operational oversight, and transparency in financial reporting.
- Employed innovative use of data analytics, data mining, and robotic process automation (RPA) to detect anomalies, overbilling, and contractual violations-delivering $3.7M in recoveries.
- Led mission-critical financial statement reviews, including resolving a $35M anomaly through comprehensive analysis. Identified and addressed over $30M in vendor contract-related leakages across the region by renegotiating contracts, and recovered $2M+ in cash through optimized contract oversight and payment controls.
- Delivered 80%+ cost savings by insourcing investigation activities, including sensitive matters tied to FCPA, antitrust, and environmental regulations.
Regional Head- Assurance Services, Europe
ARCELORMITTAL
Poland
01.2010 - 01.2014
- Led financial reporting integrity for $15B+ European operations by establishing SOX compliance, strong internal controls over financial reporting, and a corporate governance framework. Leveraged data analytics and RPA to enhance internal audits, boosting financial accuracy, operational efficiency, and regulatory compliance.
Manager - Finance
ARCELORMITTAL
Kazakhstan
01.2006 - 01.2009
- Led financial reporting for Kazakhstan Steel and Mining operations, overseeing $4B+ in revenue and a workforce of 34K employees. Managed a team of 19 to deliver comprehensive financial data to both internal and external stakeholders, ensuring transparency, compliance, and strategic alignment.
Assistant Manager - Enterprise Risk Services (ERS)
DELOITTE
India
01.2004 - 01.2006
- Led teams in internal audit projects, conducting process reviews, and developing strong internal control systems to assist clients in enhancing their operations.
Education
Bachelor of Commerce - Accountancy, Audit, Economics, & Taxation
Banaras Hindu University
IndiaSkills
- Strategic financial and enterprise initiative leadership
- Advanced data analytics and visualization
- Budgets & Forecasts
- Analysis
- Enabling data-driven strategies
- Risk management
- Treasury
- Rapid growth
- IPO
- Board and Audit Committee Member of Public Co
- M&A due diligence
- Post-merger integration
- Entrepreneurial & global mindset
- Process and technology optimization
- Transformation
- Artificial intelligence (AI)
- Consumer Centric leadership
- Strategic and stakeholder relationships
- Team management
- Cross-functional collaboration
- Consensus builder
- Change leader
Websites
Certification
- Chartered Accountant (CPA equivalent)
- Certified Fraud Examiner (CFE)
- Certified Information System Auditor (CISA)
Timeline
Vice President, Chief Financial Officer
SOL-MILLENNIUM MEDICAL GROUP
01.2020 - Current
Regional Head - Assurance Services (North & South America)
ARCELORMITTAL
01.2015 - 01.2020
Regional Head- Assurance Services, Europe
ARCELORMITTAL
01.2010 - 01.2014
Manager - Finance
ARCELORMITTAL
01.2006 - 01.2009
Assistant Manager - Enterprise Risk Services (ERS)
DELOITTE
01.2004 - 01.2006
Bachelor of Commerce - Accountancy, Audit, Economics, & Taxation
Banaras Hindu University
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