Marcelo Adrian Caruso Email & Phone Number

Escazu, Cr

San José, Costa Rica

LATAM Shared Service Center Head and Finance Controller in charge of Record to Report, Order to Cash, Procure to Pay, Treasury, Payments, Costing, Internal Control, Transfer Pricing, Construction Project, Internal and External Audit (Audited Financial Statement for LATAM entities).68/2000Máximo de 2000 caracteres permitidos.

Costa Rica

Manage the Order to Cash process for the Americas Region. Process Scope: Master Data, Invoicing, Risk Management, Cash application, Factoring, Collections & Customer serviceCountry Scope: CAN-US-PRICO-MX-CEN AMERICA-COL-VEN-PER-EC-BR-CH-ARG-URKey Achievements:• I significantly reduced LATAM customers overdue receivables (AR) ideating and implementing an end-to-end collection strategy (Process and SAP tools) reducing overdue accounts from 31% to 15% in 5 months.• I created and implemented a plan to reduce customer unapplied payments causing reconciliation issues (invoiced still marked as unpaid) used by customers as excuses to refuse to pay, reducing the unapplied cash in 90% (USD 10MM) in 3 months.• I significantly increased US working capital by implementing a reverse factoring with a top US bank, providing USD 1 Billion of additional cash on a monthly basis.• I accelerated the product delivery lead-time by analyzing the root-cause of the delays, updating the credit limit calculation based on sales forecasts and customer behavior (instead of historical data) and implementing a proactive process to identify customers with high exposure, reducing 89% of blocked orders (USD 120MM) due to insufficient credit limit in 6 months.• I delivered significant savings to the Americas Region by implementing the transition of US Customer Service process into Costa Rica (Supporting USD 20 Billions Sales delivering USD 400K of annual savings, achieving 93% of customer satisfaction and 1% of abandon calls.

Costa Rica

Lead of the PTP, Treasury and withholding tax team (170 employees & 3 Direct Reports) for the Americas Region. Responsible for USD 20 Billons payments.Process Scope: Master Data, Invoice Processing, Resolution Center (Help desk), Treasury, Payments, Events Back-office, Employee Expense Report, Indirect Taxes , Witholdings & US escheatmentCountry Scope: CAN-US-PRICO-MX-CEN AMERICA-COL-VEN-PER-EC-BR-CH-ARG-URKey Achievements:•I started-up the Costa Rica Americas Shared Service Center for the PTP, Treasury and Withholding Tax processes, implementing the first fully centralized PTP Shared Service center by centralizing and transitioning activities from 13countries in a 20 month period,. •I significantly improved vendor payment on time in the Americas Region, by implementing a vendor account management support for key vendors, implementing the "Perfect PO training campaign", the Global Vendor Invoice Requirements to increase right first time processing and ideating and designing and implementing an innovative user oriented troubleshooting process. Results of the PTP improvement project increased Payment on Time in LATAM from 65% to 90% in 8 months and in US/CAN from 93% to 96%.• I delivered significant savings to the America's Region Procurement process by implementing a new Procurement Support Service, delivering USD 350K annual saving to the Americas Region and enabling local markets procurement to focus on core value added activities.•I increased the efficiency and accuracy of the cash flow management by redesigning LATAM countries financial structure, implementing Zero Balance header accounts, intraday overdraft lines for operational accounts, consolidating CITIBANK instances (from 31 to 5) and implementing MT (940 & 101) messaging in market local banks, enabling centralized cash management processing in FINKIT-WALLSTREE SUITE (Global Treasury Standard), reducing 23% of LATAM bank accounts (31 over 135) and delivering USD 60K of annual efficiency savings.

Mexico

Lead of the FP&A, Accounting & Reporting (RTR/ATR) (local & US GAAP), Treasury, PTP, OTC, Intercompany operations, SOX and Bussiness Compliance Assurance teams for the 8 Mexican Entities and SAP implementation lead for Financial Business Management workstream.Key Achievements:• I linked and integrated the 2 Mexican Schering Plough manufacturing plants to the Global Manufacturing Network and Global Finance Reporting System, by implementing SAP Finance Business Workstream.• I ideated, designed and implemented a full Dynamic GROSS TO NET dashboard with full detailed information regarding, comercial discounts, rebates, deductions and returns enabling the ROI análisis for each type of program. This was the first GTN Dashboard globally and was selected as standard to roll out to other countries.• I developed the Distributors Stock reporting, reconciling and Audit process based in internal sales, Distributor sell in & out and pharmacies sell in.•I delivered significant savings and efficiencies to the Mexico Finance Organization by transitioning ATR, OTC & PTP processes of the 8 Mexican companies (Plants and commercial entities) into US Shared Business Centers and COE´s delivering efficiencies of 38 employees.• I significantly reduced Mexico's customer overdue accounts caused by customers refusing to pay due to MSD delays in providing discounts credit notes, by designing and implementing an innovative OTC automated & Integrated end-to-end platform linked to SAP,reducing credit notes issuing leadtime for rebates and commercial programs from 180 to 25 days, reducing credit notes issuing leadtime for product returns from 230 to 20 days.. New processes delivered a reduction of overdue accounts from 40% to 20% and an efficiency of 5 employees• I Implemented FP&A SAP Project Planning and Actual analysis to manage marketing and promotional expenses

Lead of LATAM Merger execution, System Integration, Process Improvements in Finance and Logistics teams (16 team members employees and 1 direct report).Key Achievements:• I standardized and integrated Schering Plough's (SP) acquired LATAM entities to Merck/MSD ERP environment by replacing SP's ERP with JDE in 11 commercial and 2 manufacturing entities for the Human and Animal Health business (PAN/COL/VEN/PER/EC/CH/ARG), bringing all LATAM entities (MSD & SP) under the same ERP and transitioning OTC, PTP and ATR processes of SP entities into the Chile Shared Service Center.• I significantly improving the delivery leadtime of the Americas HUB , leading a multidisciplinary team , reducing from 17 to 6 days the supply lead time to central America and Caribbean countries from Panama HUB in the Free Trade zone, reducing back-orders from US 11MM to 0.9MM and saving US 200K in insurance costs.• I provided a solution to manage the manufacturing outsourcing by implementing NETSUITE ERP in Colombia to manage the new external manufacturing agreement with EUROFARMA, providing inventory in consignment management, automatic triggering of raw material replenishment orders, quality approval and release process, manufacturing variances analysis, fees validation, batch control, and regulatory approvals, meeting in full on time the committed supply chain demand.• I solved 6 Corporate Business Compliance audits with RED rating in Mexico, Panama, Peru and Chile by redesigning the public tenders process, third party distributors anti-bribery certification process, process to ensure compliance of payments to Doctors (Eligibility, Due Diligence and Fair Market Values), implementing a Medical Events tool to ensure compliance and manage payments to agencies, creating regional SOP's to standardize the processes.

Argentina

Lead and Implemented Merger and Legal Entity Integration (MSD + Schering Plough + Organon + Intervet companies), and integrated operational processes and internal controls.Key Accomplishments:• I developed the Merger strategy balancing tax & regulatory benefits and requirements.• I implemented the Spin-Off of Animal Health business to create MERIAL Joint Venture• I designed and developed new internal control assessment deck based on 101 key controls• I Harmonized Standard Operational Procedures for Account Payables, Receivables and Accounting.• I developed and Implemented an integrated travel, entertainment and expense reimbursement policy & procedure for the merged companies• I co-led with HR the harmonization of Car Plan Policies & Procedures. Developed financial business case and obtained Corporate Benefits Committee approval

Argentina

Head of Argentina Finance Operations (12 employees & 3 direct reports) reporting into the South Cone Regional CFO.Lead the Treasury, credit & collections, costing, FP&A, accounting & reporting (internal & external), tax, internal control & SOX compliance, statutory & corporate audit, account and payables, expense report, teams. (14 team members and 3 direct reports)Key Accomplishments:• Renegotiated credit lines with local banks reducing 60% off-shore financing.• Achieved new sales with high risk customers using foreign stand by letters and offshore trusts guarantees.• Harmonized Transfer Pricing Studies and Procedures in Southern Cone.• Implemented the Chile Regional Shared Services Center process for cash flow, investments, credit management, cash pooling and global netting system.• Significantly improved customers collections with a reduction of Days Outstanding Sales (DSO) for public receivables from 221 to 132 days.• Renegotiated the Service Level Agreement with Chile Shared Services Center increasing productivity in 60%.• Developed and implemented the Fleet Management Service Area for Sales Reps with call center services and back-office support.

Argentina

Lead the Southern cone (Argentina, Uruguay, Paraguay, Perú, Chile y Bolivia) planning, reporting & ; manufacturing costing team. Preparation of profit plan, long range operational plan, capital & investment plan.Proces Scope: Internal and statutory reporting, FP&A, product & FOB pricing, P&L Analysis and business trends for executive committee, profitability analysis and build up of "what if scenarios", finance support to sales, marketing and global support functions, tax compliance, tax planning and transfer pricing studies, management of tax, labor and social security litigations, payroll, customs management and controversy resolution, supply chain management, preparation of statutory statements (local and SFAS 95/109), deferred tax and audit managementKey Accomplishments:•Ideated, designed and implemented a new integrated planning & reporting system in cognos enterprise planning platform, enbaling creating of "what if" scenarios based on financial, pricing and commercial variables, enabling business to populate units, pricing, discounts and expenses in the Cognos user collaboration front end.•Implemented the planning & reporting system for Southern Cone (Argentina, Uruguay, Paraguay, Perú, Chile y Bolivia) with added scalable consolidation layers and features•Lead the roll-out of the planning & reporting system developed in Argentina to LATAM (Chile, Peru, Ecuador, Colombia, Venezuela, Mexico & Central America)•Managed the Tax Authority transfer pricing audits reducing the adjustment from $ARA 35MM to $ARA 1.2MM•Managed the restatement process and the implementation of business units and global support functions (13 new divisions)•Developed the profit plans for the 18 divisions and global support functions•Subject Matter Expert and member of the global SAP blueprint team. Led the LA modules of finance planning, cash flow forecasting and management reporting•Led the implementation of the finance modules of the business intelligence platform

Argentina

Managed Local tax planning, transfer pricing, tax filing & compliance, tax audit management, resolution of tax, labor and social security litigation, payroll, customs advisory and controversy resolution, supply chain management, management of relationships with tax (Delloite) and statutory (PWC) auditors, preparation of statutory statementsKey Accomplishments:•Succesfully implemented RH-PRO payroll & benefits system•Led the reengineering of the import supply chain (logistics, cross-border transfer pricing risks avoidance, toll manufacturing and contract manufacturing agreements)•Developed the transfer pricing policy for Argentina establishing the profitability target ranges for the different activities.•Achieved the transfer pricing compliance status due to the implementation of profitability actions and reliefs agreed with corporate economic affairs area•Developed the transfer pricing study model for Argentina•Led the project “Local Profitability Short & Long Term Planning” to ensure transfer pricing compliance•Implemented the process of local payment to medical investigators and CRO's. Defined the contracts between doctors and Home Office according to new transfer pricing rules•Co-led the definition of capital and debt structure to ensure compliance with central bank and transfer pricing rules•Implemented the projected local statutory statement.•Managed the termination of 280 employees (Reductions in force of 7/01 & 8/02)•Planned and implemented the relocation (export and import) of 13 expatriated employees)•Developed the feasibility analysis and competitive assessment of Argentina in order to install a manufacturing plan to supply Latin America •Provided financial support to the core team which renegotiated with tollers and distributors after the maxi-devaluation

Argentina

Managed Local tax planning, filing of federal , state and municipal taxes, Management of tax audits and information requirements, Management of relationship with tax advisors, insurance Management, "acting" responsible of account payables and expense reportsKey Accomplishments:•Aligned and integrated the local tax process and standards with corporate policies & procedures.•Implemented Argentina Transfer Pricing Studies. Argentina was the first country in South-America to develop the model and further, the rest of the countries adopted Argentina's model•Negotiated the ground rules for transfer discussions between Argentina branch / corporate / supplier affiliates according to the new transfer pricing rules effective January 1st 1999.•Restructured tax department functions based on a compliance/timing/service model. Hired 2 CPA's to reinforce technical skills of the team •Restructured account payable department and implemented de Business partner model to support Business units•Renegotiated the participation of the branch in the global insurance policy. Reduced insurance costs in 40%. Replaced the local broker•Implemented the outsourcing of insurance claims•Implemented the outsourcing of automotive maintenance services

Argentina

Managed the preparation of monthly and annual income statement and balance sheet. Reporting to home office, account reconciliation, fixed assets management, standard cost calculation, analysis of manufacturing variances, marginal contribution, cost analysis (mix-volume-profitability)

Argentina

Supervised Payroll liquidation, salaries accounting, Management of expatriated employees, application of Income tax non taxation agreements, employee income tax calculation and filing.

Argentina

Supervised customer Invoicing, establishment of credit limits to customers, account receivables control, calculation of days of sales, preparation of sales rankings, analysis of customers re-financing proposals and bad debts write-offs.

Argentina

Coordinated financial operations with banks, preparation of daily cash flow position, preparation of projected cash flow needs, management of foreign trade liquidation, management of short term investment and operative loans and bonds rentals, liquidation of foreign loans, preparation of promissory notes

Argentina

Preparation of checks and payment vouchers, bank deposit of daily collections, management of petty cash

Argentina

Vendor creation in master file, invoice and expense reports processing, preparation of account payables aging reports

Argentina

Stock trade and currency arbitration accounting. Preparation of daily position and profit reports. Preparation of portfolio performance reports

Argentina

Loans accounting, preparation of consolidated loan reports, preparation of voucher for account credits