Skiing, swimming, travelling with the family, dogs - international judge
Natalya Milovanova
Chief Financial Officer
Larnaca
Summary
Detail-oriented CFO with 10+ years of experience dedicated to navigating financial growth through extensive financial planning and strategic initiatives. Oversees monthly payroll for over 160 employees. Managed to drive the Company through unprecedented COVID՞19 impact and got the extensive experience on cash control. Professionally oriented on solving problems and issues. Leaded the transaction of changing shareholders adapting change management strategies.
Overview
21
21
years of professional experience
4
4
Languages
Work History
CFO
TUS Airways Ltd
08.2024 - Current
- Led budgeting process, collaborating with department heads to allocate resources strategically and ensure alignment with organizational goals.
- Enhanced cash flow management through the development of forecasting models, ensuring optimal liquidity for business operations.
- Managed relationships with external auditors, ensuring a smooth and efficient annual audit process with minimal findings or issues identified.
- Oversaw budgets, payroll, and accounts payable and receivable.
- Ensured compliance with all regulatory requirements by staying current on industry developments and implementing necessary controls within the organization.
- Mentored finance team members, fostering a culture of professional growth and skill development within the department.
- Optimized working capital levels by closely monitoring accounts receivable/payable balances and taking appropriate actions as needed.
- Reduced operational costs by identifying areas for improvement and implementing cost-saving measures across various departments.
- Spearheaded the implementation of a new financial reporting system, resulting in more accurate and timely data for decision-making purposes.
- Directed budget development, creation of budgetary controls and recordkeeping systems and investment management.
- Prepared accurate financial statements at end of quarter to summarize financial health and business performance.
- Streamlined financial processes by implementing automation and reducing manual tasks, leading to increased efficiency and accuracy.
- Presented financial results to board members and investors during quarterly meetings, maintaining transparency in communication regarding company performance.
CFO, Member of the Board
Charlie Airlines Ltd (dba Cyprus Airways)
09.2016 - 10.2024
- Assisted in formulating the company's future direction and supporting tactical initiatives
- Developed financial and tax strategies,
- Managed the capital, cash flow and budgeting processes, maintained relations with external auditors and investigated their findings and recommendations
- Reported financial results to the board of directors
- Arranged debt collections, maintained banking relationships.
- Maintained financial security by establishing internal controls.
- Managed financial impact on human resources to optimize business performance.
- Led recruitment and development of strategic alliances to maximize utilization of existing talent and capabilities.
- Represented organization at industry conferences and events.
- Founded performance- and merit-based evaluation system to assess staff performance.
CFO, Accounts & Tax Department manager
Parparinos Milonas Corporate & Legal Consultants Ltd (S. Parparinos & Associates LLC)
01.2012 - 08.2016
- Accomplished multiple tasks within established timeframes.
- Maximized performance by monitoring daily activities and mentoring team members.
- Controlled costs to keep business operating within budget and increase profits.
- Achieved departmental goals by developing and executing strategic plans and performance metrics.
- Developed and maintained relationships with customers and suppliers through account development.
- Oversaw the preparation and submission of all tax filings, mitigating potential risks associated with noncompliance.
- Conducted detailed analysis of company financial information and oversaw preparation of related reports.
- Developed and oversaw yearly budgets and capital structure of company to determine best mix of debt, equity, and internal financing.
- Tracked cash flow and financial planning to analyze company's financial strengths and weaknesses and propose strategic directions.
- Collaborated with legal, accounting and other professional teams to review and maintain compliance with regulations.
Accounts Department Manager
Pan Invest Cyprus Ltd
01.2008 - 12.2011
- Achieving accounting operational objectives by contributing accounting information and recommendations to strategic plans and reviews; preparing and completing action plans; implementing production, productivity, quality, and customer-service standards; resolving problems; completing audits. Confirming financial status by monitoring revenue and expenses; coordinating the collection, consolidation, and evaluation of financial data; preparing special reports as per clients’ needs. Maintaining accounting controls by establishing a chart of accounts; defining accounting policies and procedures.
- Business Consulting and Management Services
Semi-senior Accountant (started with Assistant)
Oneworld Ltd associated with BDO Philippines, Cyprus
09.2005 - 12.2007
- Verifying, allocating, posting transactions, producing error-free accounting reports and present their results, analysing financial information and summarise financial status, reviewing and recommending modifications to accounting systems and procedures, providing input into department’s goal setting process, preparing financial statements and produce budget according to schedule, communicating with internal and external audits to ensure compliance, supporting month-end and year-end close process.
- Accounting and Business Administration
Education
Master of Science - Aviation Management & Sustainability
University of The West of England
Bristol 04.2001 -
Master of Science - Professional Master in Aviation Management
Transport & Telecommunication Institute
Riga, Latvia 04.2001 -
Master of Science - International Economics
University of Latvia, Institute of International Affairs
Riga, Latvia 04.2001 -
Bachelor of Science - Economics, Finance, Accounting
University of Latvia
Riga, Latvia 04.2001 -
Skills
Working capital management
Corporate governance
Strategic financial planning
ERP system implementation
Cash flow management
Adaptability to change
Change management expertise
Cost reduction strategies
Interests
Trainings & Self-education
- 2025- TUS Airways, Basic Management Systems Training
- 2024 - Executive Education Center, Developing Effective Sustainability / ESG Strategies and Reporting
- 2023 - A.C.E. Aviation Consultancy Expertise, EASA Legislation (Part M-CAMO, 145, 21)
- 2022 - Cyprus Airways, Safety Management System Recurrent
- 2022 - A.C.E. Aviation Consultancy Expertise, EASA Legislation (Part M-CAMO)
- 2019 - Cyprus Airways, CAT 10 Dangerous Goods (Initial)
- 2019 - Kratis Training & Consulting, Leadership in Aviation
- 2018 - Terrapinn Training - 3 Day Masterclass Aviation Finance
- 2018 - A.C.E. Aviation Consultancy Expertise, Maintenance Budget Analysis for CAT Operators
- 2017 - Kenyon, The 12 Principles of Aviation Crisis Management
- 2017 - CA Crew Academy, Safety Management System for Ground Personnel
Other non-related to Aviation:
- 2020 EIMF Compliance in Marketing & Promoting Financial Products
- 2020 EIMF Anti-Bribery and Anti-Corruption
- 2020 EIMF Business Ethics
- 2015 EIMF Anti- Money Laundering Seminar
- 2014 Cyprus College Cyprus Corporate Tax: Basic principles and recent changes
- 2014 MAP S.Platis Professional Training for CySec registered persons
- 2013 TFI Markets Anti-Money Laundering Course of CIFs and ASPs
- 2011 PWC Academy VAT Seminar – Provisions & Practical application of the VAT legislation
- 2010 KPMG CY VAT Legislation
- 2009 Cyprus College Advanced Spreadsheet Techniques, MS Excel
Timeline
CFO
TUS Airways Ltd
08.2024 - Current
CFO, Member of the Board
Charlie Airlines Ltd (dba Cyprus Airways)
09.2016 - 10.2024
CFO, Accounts & Tax Department manager
Parparinos Milonas Corporate & Legal Consultants Ltd (S. Parparinos & Associates LLC)
01.2012 - 08.2016
Accounts Department Manager
Pan Invest Cyprus Ltd
01.2008 - 12.2011
Semi-senior Accountant (started with Assistant)
Oneworld Ltd associated with BDO Philippines, Cyprus
09.2005 - 12.2007
Master of Science - Aviation Management & Sustainability
University of The West of England
04.2001 -
Master of Science - Professional Master in Aviation Management
Transport & Telecommunication Institute
04.2001 -
Master of Science - International Economics
University of Latvia, Institute of International Affairs
04.2001 -
Bachelor of Science - Economics, Finance, Accounting
University of Latvia
04.2001 -