Didzis Silis, Finance Expert in Cēsis, Latvia
Didzis Silis

Finance Expert in Cēsis, Latvia

Member since March 6, 2017
Didzis has worked at Nokia and controlled the financials of fast-paced projects in Latin America, the Middle East, and Europe, including a $125 million mobile network roll-out in Ukraine. He enjoys freelancing as it allows him to help clients solve non-routine financial challenges, meet new people, and continuously grow. Didzis has worked mainly at large, global companies, but he's also built several financial models for startups.
Didzis is now available for hire


Select Certifications


  • Interim Senior FP&A Analyst

    2015 - PRESENT
    • Carried out a business control process analysis (i.e., a "health check") project for an international telecommunications customer—identified issues and made improvement recommendations.
    • Consulted for an international telecommunications customer in a complex switch between revenue recognition methods.
    • Revised and made recommendations on the financial model of a new MVNO startup company in Mexico.
    • Set up and developed the Amberfide consulting business—built the financial model, wrote the business plan, registered the entity, managed customer invoicing process, represented the company in several trade events, and contacted potential customers.
    • Developed the website of Amberfide, including a Google Analytics configuration, inserting LinkedIn plugins, and other items.
    Focus areas: Three-statement Modeling, Fundraising, Business Planning, Revenue Management, Cash Flow Forecasting, Financial Modeling, Revenue & Expense Projections, Financial Planning & Analysis (FP&A)
  • Manager, Controlling

    2012 - 2015
    Circle K
    • Built from scratch and led an FP&A team of 11 finance analysts/controllers for the newly established Circle K Business Centre (serving business units in Norway, Sweden, Denmark, Russia, Poland, Latvia, Lithuania, Estonia).
    • Created a cost-forecasting model and reporting process for an ERP replacement project (covering the business across eight countries and more than 18,000 employees).
    • Managed the delivery of various group-level finance processes and projects (internal cost allocations and intercompany invoicing between all business units, calculation of central IT cost distribution to business units)—ensuring that the co-existence support for the ERP replacement project went uninterrupted.
    • Built a new operating cost budgeting model for the Business Centre and a transparent subsequent service fee calculation model for all the business units.
    • Managed the monthly closing process, P&L forecasting and reporting, as well as the service fee invoicing for the Business Centre.
    • Supported the business centre's managing director and finance director with various ad hoc reports and presentations.
    • Received an offer by the head office in Norway to build and lead the financial work stream of a group-level M&A project (in recognition of the quality of the financial models that I had built).
    • Led the financial work stream of a corporate restructuring and divestment project of a business unit operating across eight countries in Europe with 470 employees and annual sales around $150 million.
    • Prepared a carve-out balance sheet for the business unit (subject to the transaction).
    • Carried out a detailed monthly working capital analysis.
    • Filled-in the due diligence databook (balance sheet and general sections) and coordinated the preparation of a P&L section.
    • Presented the databook to the external vendor due-diligence provider and closed open items in cooperation with the business unit's finance and business management team.
    Focus areas: Balance Sheets, Restructuring, Due Diligence, Mergers & Acquisitions (M&A), Working Capital Management, Enterprise Software, Enterprise Resource Planning (ERP), Finance Shared Services Management, Financial Modeling, Analysis of Variance (ANOVA), Revenue & Expense Projections, Project Finance, Budgeting, Financial Planning & Analysis (FP&A)
  • Senior Cost and Progress Manager

    2011 - 2012
    • Implemented the cost management process in a network operations outsourcing project across 5 countries in Latin America (Argentina, Brazil, Chile, Mexico, Peru); represented a business of 1,000 employees.
    • Managed the creation and updating of the consolidated cost baseline/budget for all five countries.
    • Supported the CBT customer operations manager and finance-and-control head by providing regular and ad-hoc cost reports or analyses.
    • Coached and supported country-level cost-and-progress managers, and organized regular calls/meetings to drive cost management process improvement.
    • Took over the finance-and-control team and made improvements to the monthly regional project financial dashboard (a consolidated Excel model for all five countries).
    • Took on a new role within Nokia as a customer business controller for a customer team in Qatar.
    • Supported the head of the customer team in all financial-related matters (including financial target setting, key change programs, strategy and business decision making).
    • Managed the optimization of the customer team's balance sheet, including cash collection and credit control.
    • Ensured the timely and accurate revenue recognition for all the contracts in the team.
    • Managed the forecasting, reporting, and analysis of all customer team-related financials.
    • Built a new financial model to speed-up and improve the accuracy and transparency of the monthly reporting process.
    Focus areas: Working Capital Management, Revenue Management, Cash Flow Forecasting, Profitability Analysis, Analysis of Variance (ANOVA), Revenue & Expense Projections, Financial Planning & Analysis (FP&A), Cost Reduction & Optimization, Budget Controls, Financial Modeling, Budgeting
  • Finance Controller

    2010 - 2011
    Circle K
    • Implemented a new and efficient operating expenditure (OPEX) forecasting tool and process for the Latvian business unit; coordinated the macros development, presented the new process, and provided training to cost center managers.
    • Developed the FY2011 reporting model templates for all business units and the consolidation file (Excel) for the head-office control team in Norway.
    • Ensured monthly OPEX forecasting and control, and coordinated the annual budgeting process for the Latvian business unit.
    • Supported the head office's control team in the carve-out and subsequent IPO process of Statoil Fuel & Retail on Oslo Stock Exchange by delivering various ad hoc analyses and reports related to the Latvian business unit.
    • Supported the head office's procurement in international tender by helping to efficiently consolidate data from various business units.
    • Delivered weekly operational results and various presentations for management.
    Focus areas: Initial Public Offerings, Financial Modeling, Analysis of Variance (ANOVA), Revenue & Expense Projections, Budgeting, Financial Planning & Analysis (FP&A)
  • Business Controller

    2008 - 2009
    • Managed the business control, quarterly forecasting, and month-end reporting processes of two business units.
    • Prepared business cases for new investments, presented to the board investment committee and controlled the actual results of each business case.
    • Represented two business units in internal audit procedures.
    • Prepared ad-hoc reports to the business-unit directors, members of the board, as well as to the financial management of the company.
    • Set up and managed a team of two dedicated business analysts.
    Focus areas: Capital Investment Appraisals, Profitability Analysis, Financial Modeling, Analysis of Variance (ANOVA), Revenue & Expense Projections, Budgeting, Financial Planning & Analysis (FP&A)
  • Project Controller

    2004 - 2008
    • Set up and managed the planning and monthly reporting processes: service cost forecasting, cost accruals, accounting and cost-control database reconciliation, pre-payment risk management, and customer billing management.
    • Set up and managed the flow of accounting documents between Nokia Networks Ukraine and outsourced accounting provider as well as to the head office in Finland.
    • Implemented Sarbanes-Oxley (SOX) control points in the project.
    • Reduced a major customer-invoicing backlog and increased sales by managing weekly status meetings with local project and regional management teams, documenting and controlling the status of action points, and presenting a summary of weekly progress.
    • Received an affirmative review of the project management process in the Ukraine by Nokia Networks Head of Global F&C and received an offer from Nokia Networks CEMEA Region F&C management to manage the project business control for a new, strategically important project in the Middle East.
    • Took on an additional temporary role for three months by covering the duties of the cost-and-progress manager.
    • Prepared the project cost budget, optimized the subcontractor PO process, established a PO check against the project cost budget, established an open PO and payment feedback process with subcontractors, and led a team of 4 cost and progress engineers.
    • Successfully led the customer billing negotiations—developing a proposal, presenting, and agreeing the contractual services invoicing milestones with the finance department of the customer organization.
    • Completed an internal accounting postings investigation, identified several unjustified payments to vendors, and managed a successful return of these to the company.
    Focus areas: Cost Control, Budget Controls, Cash Flow Forecasting, Profitability Analysis, Financial Modeling, Analysis of Variance (ANOVA), Revenue & Expense Projections, Project Finance, Budgeting, Financial Planning & Analysis (FP&A)


  • Designation Holder in Chartered Global Management Accountant (CGMA)
    2009 - 2017
    Chartered Institute of Management Accountants - London, UK
  • Bachelor's Degree in Economics and Business Administration
    2001 - 2004
    Stockholm School of Economics in Riga - Riga, Latvia


  • Chartered Management Accountant (ACMA)
    APRIL 2017 - PRESENT
    Chartered Institute of Management Accountants (CIMA)

To view more profiles

Join Toptal
Share it with others