Barbara Kolenc, Finance Expert in Postojna, Slovenia
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Barbara Kolenc

Verified Expert  in Finance

Bio

As a CFO, Barbara has led multiple software startups through venture capital fundraises and exits totaling over $25 million. An E&Y trained accountant with 15+ years of experience, Barbara specializes in developing models and presentations, executing operational improvements, and scaling finance teams and processes to support growth. She freelances to leverage her extensive financial skill set and expertise to drive value for Toptal's clients.

Career Highlights

Financial Consultant
Poslovni biser d.o.o.
CFO
Salviol Global Analytics B.V.
Senior Manager, Transaction Advisory Services
Ernst & Young

Education Highlights

Bachelor's Degree
University of Ljubljana, Faculty of Economics

Certification Highlights

Chartered Certified Accountant (FCCA)
Association of Chartered Certified Accountants
Chartered Financial Analyst (CFA)
Chartered Financial Analysts Institute

Work Experience

CFO

2017 - PRESENT
GoGreenPortal, technologies d.o.o.
  • Managed the investor outreach, prepared the investor deck and teaser, and built a three-statement operating model for fundraising.
  • Prepared and submitted proposals for an EU grant, helping the company to receive a seal of excellence from the European Commission.
Focus areas: Funding Strategy, Strategic Planning & Execution, Budgeting Consulting, Fundraising

Financial Consultant

2017 - PRESENT
Poslovni biser d.o.o.
  • Developed a budgeting and reporting package for an international bioinformatics group to manage resources, control the budget and to manage financial reporting to institutional investors.
  • Served as the virtual CFO for IT-focused SME companies, building three-statement operating models as well as establishing cash flow monitoring, processes, and controls for the financial department.
  • Managed year-end external audit engagements for several clients including the preparation of the annual report, data-room setup, and communicating with auditors.
  • Advised on the IFRS implementation and newly issued accounting guidelines to a manufacturing company.
  • Advised on the strategy, the business model, the establishment of KPIs, and the breakeven analysis for a startup.
Focus areas: Startup Funding, IFRS Adjustments, Accounting Systems, Management, Audits, Financial Reporting, Budget Controls, Budgeting Consulting, Financial Planning & Analysis (FP&A)

CFO

2014 - 2018
Salviol Global Analytics B.V.
  • Built a three-statement operating model, investor pitch deck as well as a detailed offering memorandum and led presentations and financial due diligence with prominent venture capitalists including Orange Growth Capital for a successful €6.5 million series A fundraiser.
  • Oversaw the financial, HR and legal function for a five-location group in different countries and 40+ employees.
  • Managed VC investor relations and wrote reports on an ongoing basis.
  • Negotiated the debt restructuring with a bank and a convertible note with the venture capitalist for a confidential amount.
  • Supported the product development team by leveraging my experience with banks and insurance companies to help guide the development of critical success features.
  • Implemented budget controls and established a team of more than five financial experts.
  • Supported the business to an exit, resulting in a successful transaction for a confidential amount.
Focus areas: Cash Management, 13-week Cash Flow, Budgeting Consulting, Management, Audits, External Financial Reporting, Tax Planning, Accounting Consolidation, Reporting, Product Development, Legal, Controlling, Accounting, Finance

Senior Manager, Transaction Advisory Services

2012 - 2014
Ernst & Young
  • Managed a local team for a buy-side advisory and due diligence project for an equity fund attempting to acquire a sizeable Slovenian bank, building forward-looking consolidated accounts, leading loan map review and identifying valuation adjustments.
  • Spearheaded the buy-side advisory and due diligence engagement for a multinational media company attempting to acquire a Slovenian media company including building a forward-looking financial model based on historical financials review, normalization adjustments, and management interviews.
  • Led buy-side advisory and due diligence project for a multinational car producer and retailer acquiring a Slovenian truck retailer including building a forward-looking financial model based on historical financials review, normalization adjustments and management interviews to support a fairness opinion.
  • Managed a local team on a buy-side advisory and due diligence project for the largest Slovenian telecommunications company acquiring a local IT company.
  • Led a national asset quality review ("AQR") for two Slovenian banks in 2013 and the European Central Bank AQR for second largest Slovenian bank in 2014.
  • Performed independent business reviews and advised in financial restructuring in the Slovenian manufacturing and consumer goods sector to a series of clients.
Focus areas: Asset Quality Review, Valuation, Mergers & Acquisitions (M&A), Due Diligence

Planning and Business Development Manager

2009 - 2011
Central European Media Enterprises Ltd.
  • Prepared weekly operational performance updates for management and monthly financial and operational review presentations.
  • Monitored the actual performance against the budget and managed the reporting and management of KPIs.
  • Managed project execution and the implementation of strategic initiatives including developing business plans and valuation models for the acquisition of largest Serbian and Bulgarian stations; performing commercial and operational due diligence; coordinating financial and tax due diligence performed by large accounting firms; coordinating with the legal team to prepare all necessary legal documentation prior to the takeover; drafting board papers on the transaction to obtain board approval.
  • Monitored and reported on the progress of acquired strategic stations against the original business plan.
  • Managed the project execution and implementation of a Czech video-on-demand platform by preparing a business plan, setting up the implementation team, obtaining board approval, leading the development and setup of the service, as well as monitoring the delivery and ongoing success of the service.
Focus areas: Project Evaluation, Board Presentations, Board of Directors, Due Diligence, Valuation, Business Planning, Financial Planning & Analysis (FP&A), Budget Controls, Budgeting Consulting, Operational Finance, Business Development

Senior Accountant, Audit and Transaction Advisory Services

2004 - 2009
Ernst & Young
  • Managed more than ten yearly audit projects including a national airline company, casino chain, a steel product manufacturing company, an international retail store chain, various IT services companies, a bank, a leasing company, and a large asset management company.
  • Held training and advised various clients on the transition to IFRS accounting and reporting.
  • Advised the largest investment management company on accounting systems upgrades and improvements resulting in an automated IFRS compliant system.
  • Advised several insurance companies, banks, leasing companies, investment funds, and brokerage houses on the transition to IFRS and with subsequent IFRS adjustments.
  • Supported several groups with regards to year-end consolidation, financial statements, and IFRS compliant annual reports and disclosures.
Focus areas: Due Diligence, Financial Restructuring, IFRS Adjustments, IFRS Audit Planning, Management, Audits
2000 - 2004

Bachelor's Degree in Finance

University of Ljubljana, Faculty of Economics - Ljubljana, Slovenia

FEBRUARY 2009 - PRESENT

Chartered Certified Accountant (FCCA)

Association of Chartered Certified Accountants

JUNE 2008 - PRESENT

Chartered Financial Analyst (CFA)

Chartered Financial Analysts Institute

Finance

Financial Planning & Analysis (FP&A), Cash Flow Modeling, Three-statement Modeling, Valuation, Financial Reporting, Due Diligence, Fundraising, Accounting, 13-week Cash Flow, Budgeting Consulting, Budget Controls, Audit Management, Accounting Systems, IFRS Adjustments, Startup Funding, Funding Strategy, Mergers & Acquisitions (M&A), Accounting Consolidation, Tax Planning, External Financial Reporting, Cash Management, IFRS Audit Planning, Financial Restructuring, Operational Finance, Project Evaluation

Output Software

Microsoft Excel, Microsoft PowerPoint, Microsoft Word

Industry Expertise

Financial Services

Geographic Expertise

Slovenia, Croatia, Serbia, Netherlands, Czech Republic, United Kingdom, South Africa

Data & Analysis Software

IBM SPSS, Microsoft Access, Capital IQ, Intuit QuickBooks

Other

IT, IFRS Consolidation, IFRS Financial Reporting, Budgeting Consultant, ACL, Audits, Management, Strategic Planning & Execution, Finance, Controlling, Legal, Product Development, Reporting, Asset Quality Review, Business Development, Business Planning, Board of Directors, Board Presentations, Xero

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