Amit Tiwari
Salaried
New Delhi,DL
Summary
Performance-driven Vice President with 15+ years of experience aligning systems with business requirements, policies, and regulatory requirements. Passionate about applying excellent organization and communication skills to manage and lead teams. Results-oriented individual well-versed in interfacing and consulting on business processes to drive results based on sound overall business judgment.
Overview
15
15
years of professional experience
Work History
VP
Barclays Shared Services Chennai
01.2017 - Current
- Current Designation: Vice President of Product Control (Promoted in Aug 2019), handling a team size of 4 (3 AVPs and 1 Analyst).
- Maintained compliance with industry regulations by implementing risk mitigation measures and maintaining accurate documentation.
- Asset Class/Desk: FI Credit, Municipals, & RMG Desk.
- Product Handled: Fixed Income (Bonds), Credit Derivatives, Rates Derivative, Loans, etc.
- Functional Responsibilities (BAUs):
- P&L production for the Trading Desk on a T+1 basis. P&L validation happens on a daily basis based on relevant PC controls – Flash to Formal, P&L Explains, FOBO, IUR, and other relevant controls. Significant transactions review for activity-based P&L, and document the STRs wherever required.
- Deal-level analysis for all the Private Financing Loans for Asia businesses, as well as for Municipal Portfolios. It covers the entire BSPL based on IFRS 9/15.
- Back-testing/regulatory controls – Review commentaries for clean/actual vs. hypo P&L, and provide relevant commentaries for VAR back-testing whenever breaches have occurred. Manage and review the Volcker threshold, and provide commentaries for early warning indicators to the Volcker Central Finance team.
- COI analysis: Evaluating the Cost of Income, which involves an analysis of costs that are directly attributable to the trading desk and charges that are allocated to the business based on the rationale provided.
- BS and PL commentaries: Flash (Expected) P&L commentaries based on various market moves to senior management, as well as on a monthly basis to legal entity controllers on significant BS and PL movement.
- BS Attestation: Based on IFRS 9 on Financial Assets and Liabilities, a half-yearly attestation is provided (C&M) attestation, including the HTC portfolio.
- Audit Queries: Worked with the Risk and Governance team to ensure and provide all the documentation for Sox testing and Statutory/Internal Audit, along with backups for review and approvals of journals posted in BS and PL reporting.
- Regulatory Controls: Commentaries provided for Clean/Actual vs. Hypo, and providing relevant commentaries for VAR back testing.
- I have done extensive BS substantiation, reviewed all the Perm Journals, and cleared historical breaks.
- Monthly and quarterly activities.
- Reviews of Monthly Inventory Rec. Sent to PC-Vals. Team for Independent Price Testing and Review of PT and Bid-Offer Reserves.
- Sign-off of all regulatory, as well as financial reporting compliances related to FAS 157, IFRS 13, and IFRS 9.
- Providing controllership sign-offs for all the inventory accounts based on IFRS 9, along with adjustments posted.
- People's Management/Supervisory Responsibilities:
- Team Handling: Currently having supervisory responsibilities and managing a team size of 4 (3 AVPs and 1 analyst).
- Setting up the objectives for Directs so that they are aligned with the overall goals of the company and tracking them on a quarterly basis.
- Performance reviews of directs on a regular basis and sharing the feedback based on the reviews.
- Half-yearly review for any needs improvement candidate, and documenting the facts, and sharing the same with HR.
- Submission of the annual appraisal, along with the ratings and performance discussion, at year-end.
- Part of the Hiring Forum supporting the diversified workforce agenda from the bank's perspective and involved in the CA campus drive as well to support HR in filling the open positions across Product Control.
- Doing attrition analysis and collecting information based on what is provided in the HR portal for the employees who have left in the last 6-8 months, and sharing the same with stakeholders to arrive at common ground.
- Boosted team member productivity by enhancing performance monitoring and instituting motivational approaches.
- Led initiatives focused on employee engagement, resulting in higher retention rates and improved workplace morale.
- Analyzed data to identify areas of improvement, implementing changes that resulted in greater operational efficiency.
- Communicated business performance, forecasts and strategies to investors and shareholders.
Manager
RBS
02.2012 - 12.2016
- Areas of Responsibility:
- Involved in the production of FO-BO GL reconciliations and the investigation and analysis of breaks, including adjustments to be posted to the GL for the correct reporting of P&L, along with P&L attributes.
- Month-end closing and reporting, including book closing and the booking of accruals and other adjustment entries.
- Ensure that the entire relevant audit trail is maintained for the relevant journals posted at month-end for the clearance of variances appearing in Balance Sheet Accounts.
- Involved in complete front-to-back office reconciliation of investment banking trades booked in FO systems until their final settlement with the counterparty, which helps in the substantiation of balance sheet accounts.
- Preparation of KPIs on a monthly basis for the review of variances and breaks appearing in reports, and providing appropriate commentary for the variances.
- Interaction with Product Controllers and Trader Controllers to support and devise new mechanisms to achieve operational synergies in P&L submission on a T+1 basis.
- Involved in system enhancement projects to achieve operational efficiencies in the daily BAU process.
- Involved in the training of new joiners within the team related to processes and systems, and providing feedback to senior management for performance appraisals.
Team Support Specialist, (B3)
Barclays Shared Services
08.2010 - 02.2012
- Key Deliverables:
- Accounting and reconciliations of general ledger controls accounts, along with the movement analysis.
- Accounting of fixed assets, which includes depreciation, capitalization of revenue expenditure, classification, and impairment on fixed assets.
- Intercompany settlements of Barclaycard, under which we settle receivables and payables with cluster companies of Barclays as a group. It involves a high degree of accuracy and resolution of pending items for settlement.
- Work with the Risk and Governance team to ensure that all the documentation for Sox testing is provided.
- Meeting the SLAs signed with Barclays Bank, Plc. To ensure strong internal controls. Ensure that all work is completed to the highest standards, achieving all audible requirements.
- Meeting deadlines at month-end, quarter-end, and year-end. Also responsible for Sox testing for various reconciliations prepared with the department. Preparation of metrics and checklists of team performance for quality assurance and Sox compliance.
Audit Analyst
Sushil Somnath Sharma & Co.
11.2008 - 08.2010
- Areas of Responsibility:
- Managing the accounts team for audit purposes, so that roles and responsibilities can be segregated among team members.
- Finalization and consolidation of various financial statements.
- Drafting and finalizing various MIS reports.
- Responsible for Taxation Advisory Services to the clients. Drafting the Direct Tax Structure for compliance purposes.
- Preparation and filing of E-TDS returns and income tax returns, along with various calculations.
- Dealing with and replying to the Income Tax and Sales Tax Authorities for cases after consultation with the partners, especially in scrutiny.
- Handled the RBI compliance in the matter of compliance purposes and FEMA regulations.
Education
Graduate - Financial Accounting
Moti Lal Nehru College
Delhi, IndiaCA (PE II) - undefined
ICAI
India01-2005
Skills
Financial Risk Management, Investment Banking
IFRS, Sox compliances, US GAAPs
Accounting Packages: SAP P11
Computer Course of ICAI, well versed with MS-office
Proficient in reading, writing, & speaking Hindi & English language
Attended General Management & Communication Skills course conducted by ICAI
Coaching and mentoring
Team leadership
Training and mentoring
Timeline
VP
Barclays Shared Services Chennai
01.2017 - Current
Manager
RBS
02.2012 - 12.2016
Team Support Specialist, (B3)
Barclays Shared Services
08.2010 - 02.2012
Audit Analyst
Sushil Somnath Sharma & Co.
11.2008 - 08.2010
CA (PE II) - undefined
ICAI
Graduate - Financial Accounting
Moti Lal Nehru College