Ankit Madan

Leading a team of 10+ members and managing end-to-end accounting & reporting function of Global Inter-company vertical of Chemours.

• Responsible for accuracy & completeness of all Intercompany transactions of all/Global Chemours entities at every GL close, accuracy of eliminations in SAP and HFM/OS along with ensuring compliance of Global close calendars.
• Managing accounting for multiple contracts like Pass through costs, IC Commissions, Markups and Management fee contracts.
• Stakeholder Management - Working with LE controllers, business groups, consolidation teams for addressing their accounting & reporting queries.
• Collaboration with cross-functional teams (AP, G/L, Tax, Treasury, Transfer Pricing etc.) for resolution of day-to-day accounting issues.
• Managing SLAs Service Level Agreements to measure effectiveness of Service Providers and conduct periodic meetings with their leadership for improvements in their operations.
• Supporting team in day-to-day operational challenges, adhoc requests & establishing practices for accounting & reporting) changes.
• Driving change management – Managing continuous improvement & automation initiatives, assisting in System/Application changes (handled HFM to OneStream migration, SAP 4.6 to S4H, leveraged Alteryx & Power Bi for data transparency to Management).
• Reviewing Global Account reconciliations and SOX controls around high value MJEs.
• Ensuring compliance of US GAAP, Transfer Pricing provisions, Intercompany agreements.
• Assisting External Auditors to support US GAAP for Group audit & Local GAAP for Stat audits.
• Continuous training & mentoring of team members to ensure a high-level productivity and excellence in delivery, due to Global responsibilities with the team.

SME for accounting & reporting of AXA’s ceded reinsurance business (WAQS contracts) and managing every aspect of Contract Life cycle i.e. till settlement of contracts. Key responsibilities were:

• Review for completeness & accuracy of Insurance accounting for in-force Ceded Reinsurance (WAQS) contracts
• Ensuring compliance of US-GAAP, regulatory requirements, contractual provisions of respective reinsurance contracts at every GL close.
• Preparing Quarterly & Annual Financial statements of outside entities i.e. participating reinsurers
• Managing SOX compliances, SOX reconciliations & other periodic MIS deliverables
• Managing settlements with external reinsurers in compliance of contractual & tax provisions.
• Established accounting framework for settlement with external reinsurers.

Worked as Assistant Controller of UK & Europe based Service entities of AXA XL. Key responsibilities were:

• Ensuring accurate financial position of all EMEA entities at every GL close and post GL close review of Balance sheet reconciliations, preparation of 10K/10Q notes.
• Preparation of Annual financial statements (per FRS-102) and getting them audited within prescribed timelines.
• Resolving Intercompany imbalances and ensure the unresolved imbalances are within the thresholds.
• Managing quarterly submissions of Balance Sheet schedules & MIS reports for Controllers.
• Managing Regulatory submissions to UK / EMEA regulators - “HMRC” and “ONS”
• Liasoning with Treasury, AP, Tax & Consolidations team to ensure completion/accuracy of transactions booked by these respective teams.

Led APAC team responsible for Financial Reporting of Hong Kong & Singapore entities to the Financial regulators. Key Responsibilities were:

• Transitioned financial reporting process of Macquarie entities based in Singapore & Hong Kong to Gurugram office.
• Preparation & Submissions of financial reports like Balance Sheet, Income statement & financial ratios to APAC regulators.
• Preparing Variance Analysis / commentaries for movements in BS or P&L line items.
• Liasoning with controllership teams to ensure appropriateness & accuracy of financial position at every GL close, and to ensure those are in line with regulatory guidelines.

Handled Regulatory Reportings of subsidiaries of American Express with Federal Reserve Bank of the US. Key responsibilities were:

• Preparation of Financial statements like Balance Sheet, Income statement, Inter-company Reports and supplements/schedules per guidelines of Federal Reserve Bank of US for 24 subsidiaries on a Quarterly basis and 50+ subsidiaries on an annual basis.
• Liasoning with controllership teams to finalizing topside adjustments or resolving reporting differences between local GAAP Vs FED requirements.
• Conducted Global Training sessions on Quarterly basis for training controllership teams on FED's Reporting guidelines and any changes therein.
• Liasoning with the FED for pre-filing and post-filing correspondences.

• Handled Statutory Audits, Internal Audits & Tax Audits of Pvt Ltd companies.
• Handled Accounting & Certification assignments of SMEs.
• Finalization of Balance Sheet, Profit & Loss and necessary schedules.
• Assisted Partners in Income tax Assessments/hearings.
• Handled Direct & Indirect Tax compliances.

• Handled Statutory audits, Quarterly Limited Reviews (LRs), Tax audits of Listed & Unlisted Indian Companies
• Performed movement analysis of Balance Sheet and P&L line items
• Ensured statutory compliances of Companies Act, Income Tax Act and GAAP requirements.