Rao Asghar MBA CFP, Director of Finance
Mr. Rao Asghar is our Director Finance with over 20-years of experience in Accounting and Finance. He is a Certified Public Accountant with an MBA in Finance and Operational Management. Rao started his professional career as an Auditor and elevated into Controllership and Corporate Finance positions. Mr. Asghar has experience working in large, publicly traded companies, such as Deloitte, Honeywell International, and FMC Technologies.
As a Senior Auditor at Deloitte, he performed numerous audits and other related testing of financial statements of small developmental Stage, medium and large SEC clients on 10-Q and 10-K for SEC filings.
At Honeywell, Mr. Asghar played a critical role in leadership teams by actively participating in the development and execution of strategies and goals, served as a financial advisor and decision maker, and drove to achieve annual financial and productivity commitments. He was a key leader in rolling out operating systems aimed at eliminating waste, continuous improvement (kaizen), and maximizing efficiency of operating results in the sites that he managed. He successfully led Honeywell’s Annual Operating Plan (AOP) process as well as actively participated in Strategic Plan (STRAP) processes for the sites he managed. Mr. Asghar successfully completed annual SOX audits without a single material observation by creating and maintaining a strong internal control environment, ensuring compliance with corporate control policies including Sarbanes-Oxley requirements.
At FMC Technologies, Mr. Asghar managed the company’s Europe, Africa and CIS entities, and the company’s large complex Project Portfolio of over $300M. He reduced the Cost of Poor Quality (rework/scrap) cost by 12% by implementing visual boards, root cause analysis and waste reduction, improving delivery that resulted in reduction of Unbilled Receivables and increased Cash Flow. Rao planned, executed, and led annual budgets and strategic plans, which included deep dives into current Overhead/Labor and Engineering rates, providing analysis to management on all variances which resulted in increased accuracy of standard costs. He prepared and presented monthly closing pack for management with various metrics and Key Performance Indicators (KPI) and led improvement initiatives.
Rao holds Bachelor of Science (BS) in Accounting from University of Central Oklahoma and Master of Business Administration (MBA) from University of Pittsburgh; he is also a Certified Public Accountant (CPA).