Shankar Pandey, Chief Financial Officer, Global Dairy
By implementing sound financial practices and robust internal controls, a Chief Financial Officer (CFO) plays a pivotal role in driving financial strategies, ensuring operational efficiency, and maintaining the organization’s financial health, which contribute to the organization's growth. Currently positioned as the Chief Financial Officer at Global Dairy Pvt. Ltd., Shankar Pandey exemplifies the significant impact that a CFO can have in the dairy sector. After completing his chartered accountancy course at the Institute of Chartered Accountants of India (ICAI) in 2019, Shankar returned to his home country, Nepal, eager to contribute to its developing economy. His career began at KMU & Associates, a prestigious auditing and consulting firm, where he managed audits, taxation, and financial consultations across various industries, including insurance and banking. This role allowed him to gain valuable insights into the corporate landscape in Nepal.
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Top 10 CFOs In Nepal - 2024
The role of a CFO in Nepal now represents strategic significance-evidence both of the challenge and the opportunity-thrown up by a rapidly developing business environment. The financial, regulatory, and market dynamics in Nepal are changing fast and, for its right place in this swiftly changing environment, technology, regulatory developments, and market environment changes present challenges to Nepal's financial landscape. Thus, the role of the CFO in Nepal is no longer confined to financial control. Instead, it has taken on a more superior and higher level and scope for leadership and strategic decision-making, which is the fundamental aspect of an organization's growth and sustainability.
"CFOs in Nepal are no longer just "Financial Stewards", a strategic leader who guides a business through an ever-changing economic landscape"
CFOs of companies are engaged in many different financial activities in Nepal, such as budgeting, forecasting, financial reporting, risk management, and compliance through national and international standards. This will be possible only by gaining insights into the implementation of local financial practices and global trends.
Increased digitalization in finance increases their level of involvement, and financial technologies, digital payments, block chain, and AI-based financial tools build new offices for the industries of Nepal. One of the significant issues that CFOs in Nepal would face is managing the financial risks associated with a relatively unstable economy. Common issues comprise inflationary pressure, fluctuation of interest rates, and foreign exchange risks.
The financial sector in Nepal is also relatively underdeveloped: it possesses fewer instruments of advanced financial products and services than more developed markets. Thus, these need cautious navigation by both CFOs for local market conditions and also the uncertain consequences in the global financial realm. CFOs in Nepal are very important for the firms so that the growth can be enhanced, especially when the company is expanding abroad. It is required that the capital utilization is optimal and findings of new avenues for investment, working capital management, and financing through traditional banking as well as through other alternative financial platforms.
One interesting feature of the CFO role in Nepal is that people are more and more interested in the concepts of sustainability and CSR. As environment and social aspects are now increasingly reflected in business talk across the world, the CFO role in Nepal also is sought to include goals derived from sustainability into financial planning and reporting, where profit should not only be balanced against but weighed against highly impactful social impact.
CFOs in Nepal are no longer just "Financial Stewards", a strategic leader who guides a business through an ever-changing economic landscape. Their readiness to embrace new challenges, technology innovation, and managing risk will continue to shape the future of business in Nepal.
CEO Insights Asia in this issue presents a list of ‘Top 10 CFOs in Nepal - 2024' who have leveraged their extensive industry expertise and experience in offering effective skills to the market. The following list has been prepared after being closely scrutinized by a distinguished panel of judges including CXOs, analysts and our editorial board. We recognize their valuable contribution to the ever expanding and competitive market and their ability to sustain themselves and emerge as top contestants through their reliable knowledge.
Our subscribers play a decisive role in finalization of our annual list of "Top 10 CFOs In Nepal - 2024" by nominating those which have served them with excellence and are praiseworthy. If you feel there is a company that deserves to be on our annual list, do write to us about them mentioning their value proposition.
| Company Logo | Company Management | Company Name | Company Description |
|---|---|---|---|
 |
Avish Acharya, Group Chief Financial Officer | F1Soft International | Former Head of Finance and Treasury with experience in dealing with global financial markets, investments, and strategic financial planning |
 |
Bipin Shrestha, Chief Financial Officer | Singapore Beverages Nepal | With over 6 years of experience in management reporting, financial planning and analysis, accounts management, statutory audit, internal audit, direct and indirect taxes, and advisory services |
 |
Nirmal Kumar Khatiwada, Chief Financial Officer | Millenium Challenge Account Nepal | Worked in different functions during this period including Finance, Operation Risk, Compliance, Internal Audit and Treasury |
 |
Praphulla Subedi, Chief Financial Officer | Hexa Business | He brings over a decade of expertise in financial operations and management in various industries, plays a key role in driving the company’s growth across nine countries, fostering innovation and strategic decision-making in a dynamic and diverse industry landscape |
 |
Pusparaj Neupane, Chief Financial Officer | Khalti | Having 6+ years of working experience in Bank, Financial Institution and fintech industry of Nepal at leadership position |
 |
Ritu Raj Shah, Chief Financial Officer | Devyani International Nepal | With over 13 years of experience, passionate about driving sustainable financial growth, improving operational efficiency,, and leading strategic business expansions |
 |
RK Sen, Group Chief Financial Officer | Raman Construction and Group | Dedicated and disciplined having wide financial and accounting knowledge with a strong foundation of business management and can utilize a proactive approach to overcome hindrances and implement prudent financial and accounting management system |
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Shankar Pandey, Chief Financial Officer | Global Dairy | A qualified Chartered Accountant with expertise in budgeting, expenditure control, and team management, he is committed to driving continuous improvement and ensuring strict compliance |
 |
Umang Niraula, Group Chief Financial Officer | Everest Parenterals | Experienced Account and Finance Professional with a demonstrated history of working in the accounting industry, skilled in Tax Preparation, Internal Audit, Account Reconciliation, Accounting, and Income Tax |
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Vinit Lohia, Director of Finance | Magnus Pharma | His leadership and expertise continue to guide the organization toward sustained success and innovation in the competitive world of pharmaceuticals |
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