Dalibor Pajic, Finance Expert in Novi Sad, Vojvodina, Serbia
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Dalibor Pajic

Verified Expert  in Finance

Bio

Dalibor is a CFO who has led management teams at companies with annual sales ranging from $25-$80 million, including Lafarge. He has spent 16 years in corporate finance, investment management, pricing management, and business development with specific expertise in construction materials, agriculture, and food industries. Dalibor sees freelancing as an opportunity to apply and leverage his experience to a range of business fields.

Career Highlights

CFO
MK Group (Carnex)
CFO
Asamer Baustoffe AG-Fabrika Cementa Lukavac
Head of Controlling
Lafarge BFC

Education Highlights

Bachelor's Degree
University of Novi Sad

Certification Highlights

Certified Management Accountant (CMA)
The Chartered Institute of Management Accountants

Case Studies

Industry Expertise

  • Agriculture
  • Animals & Livestock
  • Accounting Services
  • Water Treatment
  • Manufacturing
  • Building Materials
  • Food & Beverage
  • Retail

Other Expertise

  • Business Models
  • Investment Modeling
  • Investment Monitoring
  • New Business Development
  • New Product Business Cases

Work Experience

Head of Data Management (via Toptal)

2019 - PRESENT
Sahmik
  • Supported the development of Sahmik, a web platform and mobile application that contains data from stock exchanges in the Middle East and North Africa regions, intended to be used by potential investors and financial analysts.
  • Structured the database for the terminal and application.
  • Developed the data entry and data control procedures.
  • Created a coding system and developed a chart of accounts.
  • Standardized and unified the reports from different sources.
  • Recruited and organized the data entry and data processing teams.
  • Supported developers in the web platform and mobile application development.
Focus areas: Startups, Software Design, SaaS, Financial Data, Financial Software, Fintech, Stock Trading, Stock Analysis, Financial Reporting, Chart of Accounts, Databases, Web & Mobile Applications, Excel Reporting, Excel 2013, Team Management, Data Entry, Data Reporting, Investor Relations, Microsoft Excel

Financial Analyst

2019 - PRESENT
WYG international
  • Prepared feasibility studies for the reconstruction of municipal water and wastewater infrastructure (financed by the EIB and other relevant institutions).
  • Analyzed water consumption data and prepared the consumer database.
  • Performed a financial analysis of the companies that operate water and wastewater infrastructure. Those companies are in the ownership of the municipalities in which infrastructure projects should be performed.
  • Conducted a financial analysis of the investment plan for water and wastewater infrastructure improvement and investment modeling.
  • Implemented a municipality credit rating and debt capacity assessment to estimate their ability to repay the loan used to finance relevant infrastructure projects.
Focus areas: European Union (EU), Consulting, Local & Municipal Government, Water Industry, Infrastructure, Financial Planning & Analysis (FP&A), Credit Ratings, Credit Analysis, Investment Research, Investment Cases, Investment Analysis, Feasibility Studies, Excel Reporting, Excel 2013, Discounted Cash Flow (DCF), Quantity Surveying

Freelance Finance Expert

2018 - PRESENT
Clients (via Toptal)
  • Advised a client who had started a small business in the US.
  • Built a cash-flow model for daily cash flow management, cash flow planning, analyses, and forecasting.
  • Researched the US factoring market for small businesses.
  • Coached and supported clients on cash flow management.
  • Mentored and supported a client in defining their KPIs.
Focus areas: Revenue & Expense Projections, Key Performance Indicators (KPIs), Mentorship & Coaching, Startups, Cash Flow Forecasting, Budgeting, Budget Modeling, Budget Management, Cash Flow Modeling, QuickBooks Online, Factoring, Profitability Analysis, Three-statement Modeling, Financial Planning & Analysis (FP&A), Financial Modeling, Excel Reporting, Microsoft Word, Excel 2013

FP&A Expert

2024 - 2024
Prelude, LLC
  • Established a comprehensive reporting structure for board meetings that encompassed detailed customer breakdowns, customer acquisition costs, and lifetime value (LTV) analysis for three distinct customer segments.
  • Analyzed and projected revenue and bookings and contributed to forecasting their cash flow statement and balance sheet.
  • Revamped the current reporting system, incorporating new automated dashboards that specifically focus on tracking annual recurring revenue (ARR), ARR bookings, total contract value (TCV), and TCV bookings.
Focus areas: Excel Expert, Board Decks, P&L Forecasting, Financial Modeling, Financial Planning & Analysis (FP&A), Reporting, Budgeting, SaaS, Forecasting, Dashboards, Recurring Revenue Modeling, Monthly Recurring Revenue (MRR)

Freelance Consultant | Due Diligence, Financial Matters, Negotiations

2018 - 2018
Acquisition Project in the Food Industry
  • Performed a preliminary financial analysis of the target entity concerning its business performance, liquidity, and solvency. The company name remains confidential as negotiations are still ongoing.
  • Built a long-term business plan for the target entity using a three-statement operating model based on the historical performance of the company and future assumptions.
  • Conducted a risk analysis of the target company business by identifying key success factors and the implication of their change on business performance, cash generation, future liquidity, and future indebtedness.
  • Performed a benchmark analysis of the target entity, comparing its business performance with main competitors in the industry.
  • Valued the target entity using DCF valuation methodology.
  • Participated in the negotiations with the current owner about the sale of the company.
Focus areas: Due Diligence, Equity Valuation, Financial Benchmarking, Risk Analysis, Business Planning, Financial Planning & Analysis (FP&A), Mergers & Acquisitions (M&A), Business Models, Serbia, Microsoft PowerPoint, Microsoft Word, Excel 2013, Food Production, FMCG

CFO

2017 - 2018
DTD Holding
  • Monitored the complete development of innovative products (tuna-fish-based sausages and salami) from the investment analysis to shelf placement in the retail stores, with an investment of $0.5 million.
  • Established the budgeting process from scratch by developing Excel budgeting models for each business area of the company.
  • Built the business case regarding a company spin-off. The company is vertically integrated, with business areas including agriculture production, fish food production, fish farms, fish products, and a retail chain that continues separate operations.
  • Established the KPIs for each business area. Using these KPIs, followed up with responsible directors and managers performance of those businesses as well as achievement of the targets.
  • Developed a flexible pricing management tool that established a correlation between sales quantities, sales prices, and profit. This tool was used to lead negotiation for sales quantities, sales prices, and rebates.
  • Managed a team of 12 that handled the accounting, payments, and activity supervision.
Focus areas: Capital Expenditure Planning, Financial Planning & Analysis (FP&A), Business Planning, Investment Monitoring, Cash Management, Analysis of Variance (ANOVA), Price Analysis, Financial Modeling, Financial Reporting, Forecasting, Budgeting, Excel Reporting, Revenue & Expense Projections, Variance Reporting, Rolling Forecasts, Business Models, Serbia, Microsoft PowerPoint, Microsoft Word, Excel 2013, CFO, Pricing, Key Performance Indicators (KPIs), IFRS Financial Reporting, Investment Modeling, Team Management, Strategy, New Product Business Cases, Discounted Cash Flow (DCF), Cash Flow Modeling, Agriculture, Food Production, FMCG, New Product Development, Taxation, Profitability Optimization, Strategic Planning & Execution, Investments, Budget Management, Budget Modeling, Accounting, Cash Flow Management

Controlling Manager

2016 - 2017
MK Group (Carnex)
  • Built a financial model to analyze the investment in the improvement of energy efficiency through recycling wasted energy, which created energy cost savings of $0.2 million.
  • Developed a strategic plan applying the balanced scorecard approach and developed dashboards to follow up realization along with the management plan.
  • Improved the unit cost and price calculation by implementing advanced overhead cost allocation into ERP, applying activity-based costing.
  • Constructed a financial model for the selling price benchmark with the competition with scenario analysis on company profitability, analyzing cases where prices should be lowered in coordination with sales forces.
  • Managed a team of 13 that performed the controlling and data analyses.
Focus areas: Financial Planning & Analysis (FP&A), Investment Summaries, Cost Management, Analysis of Variance (ANOVA), Price Analysis, Financial Modeling, Financial Reporting, Forecasting, Budgeting, Excel Reporting, Revenue & Expense Projections, Variance Reporting, Rolling Forecasts, Business Models, Serbia, Microsoft PowerPoint, Microsoft Word, Excel 2013, Pricing, Key Performance Indicators (KPIs), IFRS Financial Reporting, Investment Modeling, Team Management, Strategy, New Product Business Cases, Discounted Cash Flow (DCF), Cash Flow Modeling, Agriculture, Food Production, Pricing Strategy, FMCG, New Product Development, Balance Scorecards, Taxation, Profitability Optimization, Investments, Budget Management, Budget Modeling, Accounting

CFO

2015 - 2016
MK Group (Carnex)
  • Completely managed an investment into fresh meat distribution, from the investment analysis to the contracting with retail chains. This investment was worth $2 million and increased the profit of the company by $0.4 million in the first year.
  • Built a profitability model that analyzed the impacts of price changes on the base case EBITDA, as defined by the annual budget. It was used to define the company's commercial strategy in negotiations with retail chains and distributors.
  • Monitored the development of a new product—children's pâté and ready meals—from the initial idea through investment analysis and retail store shelf placement. This product increased profit by $0.3 million in the first year.
  • Performed product portfolio optimization where products with negative gross margins and low volume products (with positive gross margins, but in total unprofitable due to small production series) were cut. This improved profits by $0.5 million.
  • Managed a team of 35, which performed the accounting, payment, controlling, and data processing activities.
Focus areas: Capital Expenditure Planning, Financial Planning & Analysis (FP&A), Investment Summaries, Investment Monitoring, Cost Management, Analysis of Variance (ANOVA), Price Analysis, Financial Modeling, Financial Reporting, Profitability Analysis, Forecasting, Budgeting, Revenue & Expense Projections, Variance Reporting, Rolling Forecasts, Business Models, Serbia, Microsoft PowerPoint, Microsoft Word, Excel 2013, CFO, Pricing, Key Performance Indicators (KPIs), IFRS Financial Reporting, Investment Modeling, Team Management, Strategy, New Product Business Cases, Discounted Cash Flow (DCF), Cash Flow Modeling, Agriculture, Food Production, Pricing Strategy, FMCG, New Product Development, Taxation, Profitability Optimization, Strategic Planning & Execution, Investments, Budget Management, Budget Modeling, Finance Process Improvement, Accounting, Cash Flow Management, Inventory Management

CFO

2011 - 2015
Asamer Baustoffe AG-Fabrika Cementa Lukavac
  • Managed an entire $7 million investment program related to alternative fuels, process optimization (with tax optimization from the investment analysis through investment proposal selection), investment decisions, and negotiations with suppliers.
  • Supervised the development of the concrete business—a $5 million investment—by acquiring an existing concrete plant, renting one plant, and constructing a new greenfield one.
  • Managed, in coordination with the management team, a cost reduction plan that resulted in cost savings of $0.9 million compared to the prior year through introducing alternative fuels, maintenance optimization, downsizing, and purchasing deals.
  • Led a team of company directors in a five-year strategy definition, helping them define the assumptions concerning the future development of the business and investment proposal generation.
  • Managed a team of 16, which performed accounting, controlling, payment, IT equipment maintenance, ERP support, and purchasing activities.
Focus areas: Startup Funding, Mergers & Acquisitions (M&A), Corporate Finance, Finance Strategy, Capital Expenditure Planning, Business Planning, Working Capital Management, Investment Summaries, Investment Monitoring, Cash Management, Cost Management, Analysis of Variance (ANOVA), Price Analysis, Financial Modeling, Financial Reporting, Forecasting, Budgeting, Financial Planning & Analysis (FP&A), Excel Reporting, Revenue & Expense Projections, Variance Reporting, Rolling Forecasts, Business Models, Microsoft PowerPoint, Microsoft Word, Excel 2013, CFO, Pricing, Key Performance Indicators (KPIs), IFRS Financial Reporting, Investment Modeling, Team Management, Strategy, New Product Business Cases, Industrial & Manufacturing, Discounted Cash Flow (DCF), Bosnia & Herzegovina, Navision, New Business Development, Tax Credits, Taxation, IBM Cognos, Strategic Planning & Execution, Investments, Budget Management, Budget Modeling, Accounting, Cash Flow Management, Manufacturing, Inventory Management, Quantity Surveying

Head of Controlling

2006 - 2011
Lafarge BFC
  • Built a flexible spreadsheet for the annual budget, which covers all aspects of the business from which the data is derived. This spreadsheet is used for local board budget meetings and discussions, as well as for discussions with group management.
  • Managed a cost-reduction program in cooperation with all responsible managers, which created $2.5 million in cost savings in 2008 compared to 2006.
  • Supervised a working capital reduction program with responsible managers through inventory level reduction and payable improvements. These initiatives improved annual cash generation by $2 million in 2008 compared to 2006.
  • Developed financial models and scenarios for investment analyses using DCF, net present value, and IRR analyses and participated in investment decisions for investments of $20 million related to energy efficiency and cost savings.
  • Implemented Sarbanes-Oxley internal control procedures.
  • Constructed a flexible 5-year strategic business plan that included key assumptions concerning the business's development and future investments, including return, sensitivity analysis, and dividend projections.
  • Managed a team of four, which performed financial reporting, financial analyses, and ad hoc analyses required by the top management.
Focus areas: Business Planning, Working Capital Management, Investment Summaries, Cash Management, Cost Management, Analysis of Variance (ANOVA), Price Analysis, Financial Modeling, Financial Reporting, Forecasting, Budgeting, Excel Reporting, Revenue & Expense Projections, Variance Reporting, Rolling Forecasts, Business Models, Serbia, Microsoft PowerPoint, Microsoft Word, Pricing, Key Performance Indicators (KPIs), IFRS Financial Reporting, Investment Modeling, Team Management, Strategy, JD Edwards, New Product Business Cases, Industrial & Manufacturing, Discounted Cash Flow (DCF), Cash Flow Modeling, Pricing Strategy, Microsoft Access, Tax Credits, Taxation, Training & Training Content Development, Training, Strategic Planning & Execution, Investments, Budget Management, Budget Modeling, Accounting, Manufacturing, Inventory Management, Quantity Surveying

Cost Controller

2003 - 2006
Lafarge BFC
  • Established local cost centers per group reporting requirements, covering production, production support, and SG&A functions.
  • Created—in coordination with a local IT team, which developed the appropriate software—a unit-product-cost-calculation procedure.
  • Built a cost-reporting structure that was appropriate and understandable for all levels of managers and covered the responsibility and level of control of each separate level of managers.
  • Constructed a flexible forecasting tool for variable and fixed costs.
  • Developed a pricing model based on unit product cost calculations and targeted margins covering multiple scenario analyses.
Focus areas: Data Analysis, Analysis of Variance (ANOVA), Cost-benefit Analysis, Cost Estimation, Cost Efficiency, Cost Management, Internal Financial Reporting, Excel Reporting, Revenue & Expense Projections, Variance Reporting, Rolling Forecasts, Serbia, Microsoft Word, Pricing, Key Performance Indicators (KPIs), New Product Business Cases, Pricing Strategy, Investments, Accounting

F&A Module Team Leader, ERP Implementation

2004 - 2005
Lafarge BFC
  • Identified localization needs for the JDE Edwards ERP system to comply with local VAT regulations, specifically regarding VAT calculations after advance payments, initially unsupported by JD Edwards.
  • Improved the business processes (for finance and accounting) concerning payment and money collection transactions via automation.
  • Set up and tested a system concerning accounts for the automation of transaction bookings (receivables, payables, inventories, and fixed assets) as well as the setting of the tax rates and tax calculation.
  • Trained and mentored the end users on the new ERP system.
  • Supported end users with the old system and the go-live stage simultaneously concerning technical problems and other open issues.
  • Managed a team of three, which performed process analyses, training of the end users, system testing, and a system set up of the finance-and-accounting module.
Focus areas: Financial System Implementation, Accounting Systems, Serbia, Microsoft Word, Team Management, JD Edwards, Business Process Analysis, Training & Training Content Development, Training, Finance Process Improvement, Accounting

Financial Accountant

2001 - 2003
Lafarge BFC
  • Developed two-way reporting after an acquisition by Lafarge in accordance with local accounting standards and IFRS.
  • Structured a post-acquisition chart of the accounts in accordance with the group's reporting requirements.
  • Automated data transfers from a local ERP to Hyperion Financial management.
  • Improved and automatized the procedures for a local ERP regarding the bookings of transactions in retail stores.
  • Developed the controls in a local ERP system to ensure reliable bookings.
Focus areas: Double-entry Bookkeeping, Internal Financial Reporting, External Financial Reporting, Financial Reporting, Data Analysis, IFRS Adjustments, Serbia, Microsoft Word, IFRS Financial Reporting, Finance Process Improvement, Accounting
1997 - 2001

Bachelor's Degree in Economics

University of Novi Sad - Novi Sad, Serbia

JULY 2015 - PRESENT

Certified Management Accountant (CMA)

The Chartered Institute of Management Accountants

Finance

Three-statement Modeling, Forecasting, Financial Modeling, Revenue & Expense Projections, Cash Flow Modeling, Profitability Analysis, Financial Planning & Analysis (FP&A), Financial Reporting, Budgeting, CFO, Pricing, Accounting, Discounted Cash Flow (DCF), Capital Expenditure Planning, Working Capital Management, Investment Monitoring, Cash Management, Cost Management, Pricing Strategy, IFRS Adjustments, Finance Process Improvement, Data Analysis, External Financial Reporting, Internal Financial Reporting, Double-entry Bookkeeping, Cost Efficiency, Cost Estimation, Cost-benefit Analysis, Accounting Systems, Financial System Implementation, Price Analysis, Investment Summaries, Finance Strategy, Corporate Finance, Startup Funding, Risk Analysis, Financial Benchmarking, Equity Valuation, Due Diligence, Credit Analysis, Factoring, Cash Flow Forecasting, Mergers & Acquisitions (M&A), Tax Credits, Profitability Optimization, Taxation, Stock Trading, P&L Forecasting, Monthly Recurring Revenue (MRR)

Output Software

Microsoft PowerPoint, Microsoft Word, Excel 2013, Microsoft Excel

Geographic Expertise

Serbia, Bosnia & Herzegovina, European Union (EU)

Industry Expertise

Agriculture, Industrial & Manufacturing, Food Production, Water Industry

Data & Analysis Software

QuickBooks Online, IBM Cognos, Microsoft Access, Financial Data

Other

Cash Flow Management, Excel Reporting, Variance Reporting, Rolling Forecasts, Business Planning, Analysis of Variance (ANOVA), Business Models, Investment Analysis, Key Performance Indicators (KPIs), Quantity Surveying, Data Entry, Data Reporting, Manufacturing, Inventory Management, JD Edwards, Investment Modeling, IFRS Financial Reporting, Team Management, New Product Business Cases, Strategy, Business Process Analysis, Training, Strategic Planning & Execution, Investments, Feasibility Studies, Investment Cases, Investment Research, Credit Ratings, Infrastructure, Local & Municipal Government, Consulting, Budget Management, Budget Modeling, Startups, Mentorship & Coaching, Training & Training Content Development, Balance Scorecards, Navision, FMCG, New Business Development, New Product Development, Software Design, SaaS, Financial Software, Fintech, Stock Analysis, Chart of Accounts, Databases, Web & Mobile Applications, Economics, Excel Expert, Board Decks, Reporting, Dashboards, Recurring Revenue Modeling, Investor Relations

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