ANKIT MITTAL
Summary
Focused professional with expertise guiding organizational growth through robust financial strategies and management. Accomplished in recognizing operational inefficiencies and risks and improving internal controls, standards, and procedures. Over extensive background growing organizations.
Overview
15
15
years of professional experience
Work History
Financial Controller
Hyatt Place Jaipur
Jaipur
10.2022 - Current
- Established and maintained internal financial controls to ensure accurate financial reporting
- Advised executive leadership on financial strategies to ensure operational efficiency
- Directed the preparation of financial statements and financial reporting to internal and external stakeholders
- Analyzed financial data to ensure the organization was adhering to established budgets and goals
- Monitored and reviewed financial performance to identify opportunities for cost savings and revenue growth
- Negotiated and established long-term contracts with vendors and suppliers
- Developed and implemented financial policies and procedures to ensure compliance with local and federal regulations.
Financial Controller
Hyatt Place Vadodara
Vadodara
10.2021 - 10.2022
- Oversaw the preparation & maintenance of statutory books of accounts, AR / AP records, payroll accounts, reconciliation statements, and financial statements
- Organized monthly P&L critique meeting with the General Manager to discuss MTD and YTD numbers with emphasis on finding out ways to minimize cost without hampering quality standards
- Planned the budgeted pre-opening expenses with an explanation
- Weekly update on the variance of budgeted pre-opening expenses versus actual expenses
- Developed budget for operational and capital expenditure with attention to details and assumptions
- The same is then presented to the Corporate Office and, upon approval, to the hotel owner
- Planned monthly forecast with attention to detail and assumptions
- The same is presented to the Head Office and, upon approval, to the hotel owner
- In a pre-opening hotel, based on the first operational budget, the working capital was determined
- Monthly and yearly cash flow is prepared based on the yearly budget and is revised based on a forecast
- Review of fund flow statements to monitor the fund's inflow & outflow to ensure optimum utilization of available funds to accomplish organizational goals and maintain vendor relations
- Weekly/Monthly meeting with the owner to present the pre-opening expenses and post-operational budget based on the revised opening date
- Keeping the Owner Updated on significant matters
- Addressed the monthly P&L to the Owner/Owner's representative with an explanation of the major variances between the budgeted and forecast numbers with actuals
- Training, retention, and development of financial talent
- Team members are swapped at regular intervals to develop skills in all sections of the department.
Chief Accountant
Hyatt Regency
New Delhi
09.2015 - 10.2021
- Successfully implemented GST and ensured accuracy of GST collection in organization by implementing the required changes in software
- Delivered financial analysis and reports to convey fiscal soundness and operating effectiveness to executive team
- Integrated financial information into business decision-making, budgeting, forecasting and strategic planning processes
- Assessed accounting accuracy, performing daily cash functions, including A/P and A/R tracking, budgeting, payroll transactions, wage allocation, salary expenses and bank, credit card and petty cash reconciliations
- Ensuring the monthly close of Books within the due date, reviewing that transactions were accounted as per Indian Accounting Standard, 11th Edition USALI and Hyatt accounting guidelines
- Review of monthly Assets and Liabilities reconciliation
- Handled Statutory and Internal Audits, along with Statutory Compliances
- Task force support in Hyatt Regency Johannesburg (South Africa) in absence of Director of Finance to run the operations, handling the team of 5 people along with hiring Chief Accountant and closing pending issues
- Assisting Assistant Director of Finance & Director of Finance to prepare the monthly financial presentation for review with Hotel's Leadership Committee and Owners, providing key reasons for the variance in financial performance
- Ensuring monthly forecast completed timely after reviewing it with all departments
- Assisting Director of Finance with preparation of the annual Business Plan of the Hotel
- Quarterly self-audit for various departments to ensure adherence with policy and procedures and deviation, if any, reported out to Director of Finance
- Income Auditor
- Created excel utility for income reconciliation to reconcile daily income and identify transactions were recorded accurately
- Preparation of Tax reconciliation, identifying taxes discrepancies for rectification immediately
- Preparation of the Events revenue reconciliation, identifying that no revenue leakage is there compared to the contracted billing
- Verify approvals for complimentary guest rooms and Management Discount rooms
- Review all house use and entertainment checks for propriety and ensure that checks signed and authorized as per approval matrix of the hotel
- Check negative posting report and verify with the outlets checks if the discounts, allowances, adjustments, etc
- Approved by the concerned managers as per Hotel's approval matrix.
Senior Financial Analyst
SNL Financial Pvt. Ltd
08.2010 - 09.2015
- People Management - Handled a team of 10-12 analyst along with the workflow management
- Approving the research reports completed by other analyst
- It includes the coverage stories, guidance and estimates of the companies listed in SEC
- Quality check on the work done by the employees working with me and resolving their errors
- Analysis of Financial Statements and collection of relevant information from various Research Reports published in SNL
- Research and respond quickly to all client's issues, adhering to quality goals for accuracy, completeness, and timeliness
- Maintain a strong focus on data quality and perform audits.
Assistant Manager
MOTION IIT-JEE Academy
10.2009 - 08.2010
- People Management - Handled a team of 5 members
- Reviewed sales reports to enhance sales performance and improve inventory management accuracy
- Developed training, assessment and performance monitoring programs to coach and mentor employees.
Education
MBA -
ICFAI National College
01.2010
Bachelor of Commerce -
Commerce College
Kota01.2008
Central Board of Secondary Education -
01.2005
Skills
- Accounting Standard
- Regulatory Compliance
- Audit management
- Fund Flow
- Month-end and year-end closings
- Budget Preparation
- Financial Forecasting
- Microsoft Office
Languages
English
First Language
References
References available upon request.
Timeline
Financial Controller
Hyatt Place Jaipur
10.2022 - Current
Financial Controller
Hyatt Place Vadodara
10.2021 - 10.2022
Chief Accountant
Hyatt Regency
09.2015 - 10.2021
Senior Financial Analyst
SNL Financial Pvt. Ltd
08.2010 - 09.2015
Assistant Manager
MOTION IIT-JEE Academy
10.2009 - 08.2010
MBA -
ICFAI National College
Bachelor of Commerce -
Commerce College
Central Board of Secondary Education -
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