Arunkumar Balaji
Auditing, Finance And Accounts Profession
Pozhichallur
Summary
Dynamic and enthusiastic professional eager to embrace challenging opportunities that foster organizational success and personal career growth. Strong comprehension skills facilitate informed decision-making, contributing to the overall advancement of the company. Committed to continuous improvement and dedicated to driving results through innovative solutions and collaborative teamwork. Ready to leverage expertise and passion for excellence in a fast-paced environment.
Overview
19
19
years of professional experience
2
2
Certifications
Work History
Senior Assistant Vice president – Risk and Compliance Auditing
Wells Fargo Bank
09.2024 - Current
- Supports the Business risk and Controls Team in delivering the risk and control management program, conduct and operational related risk for (Finance / HR / Public affairs / Legal) and responsibilities include:
- Performing analysis and identifying trends from risk management and internal control data, creating reporting for internal use including Bank and Risk management committee.
- Provide administrative support to Business risk and Control team led projects and initiatives to drive improvements to key processes and controls, including tracking of deliverables and agreed actions.
- Supporting business areas with day-to-day risk question regarding risk management and internal controls process.
- Facilitating the triage of risk events and issues, partnering with business areas to evaluate process of control break downs and ensuring remediation is tracked till resolution.
- Supporting and co-ordinate and facilitation of the Bank risk and control self-assessment (RCSA) and periodic RCSA refresh.
- Conduct Periodic control testing and sampling on allocated controls in the risk management system and supporting the development of mitigation measures for failed controls.
- Managing the Business Risk and control Team’s suite of procedure, ensuring they are refreshed in accordance with the agreement.
- Perform hands on support across the bank from a first line Business Risk and control Team perspective, supporting the team and management of risk, control, risk mitigation and KRI’s.
- Supporting Business Risk and control Directors through coordinating Business risk and control team initiatives, responding to business queries and maintaining team procedures.
- Monitoring reporting of risk through relevant governance, including analysis and interpretation of risk management and internal control data and conducting deep dive reviews into thematic issues.
- Helping Assessors in developing Control Documentation including (Narratives / Design evaluation / Control Performance evaluation)
- A financial services company that provides banking, investment and mortgage products
Senior Business Consultant – Enterprise Risk / Finance Transformation
E&Y GDS LLP
12.2021 - 08.2024
- Engagement experience
- Finance Process P2P
- Procure to Pay (P2P) process assessment focuses on identifying opportunities from the People, Policy, Org, Technology and Data perspective.
- It involved both upstream and downstream processes such as Direct/Indirect Procurement, Supplier Relationship Management, Buying Channel Optimization, Accounts Payable and this P2P activity (including reporting and master data management).
- Work closely with P2P Process owners to monitor performance KPI, including the service delivered by an external party, find out the process gaps.
- Conducted Benchmarking exercise to quantify the performance gaps against the comparative groups.
- Compared existing business value chain with leading practice views to identify business optimization and efficiency improvement avenues.
- Identified automation hotspots along with the need for any other system upgrade or implementation.
- SOX Audit
- Team player in the engagement of Internal Financial Controls/SOX Controls Testing of the Operating Effectiveness of the existing controls (Manual & Automated) for various business processes such as Direct Tax, Inventory, Procure to Pay, Fixed Assets, Capex, Book Closure and Consolidation, Order to Cash, Compliance, Production Planning, Record to Report.
- Suggested Process Improvements in case of any deficiency in the control, and control design in case of any control gap identified during the testing.
- Experienced in testing controls within timelines.
- During SOX engagement - Handled Onsite calls, Assisted and supported the team members in case of any queries/challenges.
- Timely communication and updates on the work status.
- Conduct walkthroughs over financial processes residing at Client locations and coordination of walkthroughs for processes residing at Client locations. Scope of walkthroughs may include tests of design, operating effectiveness, control implementation support, and audit preparedness.
- Design tests of operating effectiveness and execute testing of financial controls to support external auditors in testing.
- Assist the Global SOX team in building monitoring controls and enhancing the effectiveness of entity level control activities.
- Save all audit reports, work-papers, audit presentation in SOX audit repository in SharePoint.
- Assist with financial risk and control training to new or newly assigned staff.
- Finance Planning and Analysis
- Manage and prepare an annual budget for IT Research LAP projects, support monthly close and forecast.
- Coordinate/prepare supporting analysis schedules, and spending summary in support of Finance areas VP for the business unit, Budge and forecast for the months.
- Measure project performance with appropriate tools and techniques: Weekly project meetings with cross-functional team for project status and release liaison with critical vendors Accenture / HCL / EY / NTT Data / Princeton Blue) of project managers on the finalising statement of work and create purchase orders in SAP.
- Process incremental funding requests and provide required backup documents and leadership approvals.
- Update project trackers with monthly actuals, review monthly forecasts with project managers and support forecast loads on share point.
- Review and consolidate variance to forecast vs budget – highlight trends and recommend actions.
- Manage monthly and year-end accruals by collaborating with purchasing teams, and processing journals entries to allocate charges to correct cost centres.
- Assist the project closeouts once the project is complete at the end of each year.
- A global leader in assurance, tax, transaction and advisory services
Manager (Accounts Payable/Accounts Receivable /Treasury)
Accenture Services Pvt. ltd.
12.2009 - 12.2021
- Clearing open items in Bank and Unallocated reconciliations items on timely basis.
- Handling escalations and email queries from Suppliers/Business.
- Training the Team Members & initiating for cross training activities.
- Providing Process improvements & control measures.
- Assisting Team members in all critical situations.
- Assisting team members in closing the month end before the given deadline time.
- Generating reports and submitting them to top level management and Client in governance call with dashboard details.
- Taking initiatives on dollar saving for client by doing projects.
- Generating ideas to reduce human efforts, simplify process.
- Preparing of process documentation.
- Doing statutory audit for the AP process – for other clients in Accenture.
- Helping the EY team for smooth close of walkthrough procedures and other statutory audits in Accenture.
- Implementation of AI and RPA for the process where we can reduce the manual work.
- Foxtrot compliance check to be performed on every week for AP/AR and GDM team.
- Successfully completed transitioning of France / Spain entity to Accenture Scope in the year – 2020.
- Bank reconciliation statement – Payments and Receipts to be reconciled on time.
- DD Lines / Unreconciled lines to be clear from books of accounts.
- Fund transfer – from one bank to another bank account in order to clear the payments.
- Handled 90 members team including (AP/AR/Treasury management team including 3 Asst managers - 6 TL’s reporting to me directly and on the dotted lines.
- Driving and implementing continuous improvements and optimization programs for operational process and resolving all business units’ queries / Escalations in a timely manner.
- Working closely with delivery / Product team and ensure the requirements are understood to enable effective support.
- Ensuring all the intercompany transfers, cheque refunds, and all the ancillary tasks in AR with in TAT.
- Handled more than 220 million payments with 120K bank transactions per month.
- Risk and Compliance Responsibilities:
- Risk Assessment and selection of the issues that should be included and addressed in incident management process.
- Establish and monitor key risk indicators, as well as implement corrective action plans to mitigate risks.
- Establish and evaluate the effectiveness of the company's internal control framework in addressing risks and accomplishing the company's goals and objectives.
- Providing advice on managing, encrypting, storing, archiving and organizing the storage of confidential documents as part of protocol of client data protection.
- Provide training and technical support to management and employees regarding risk management strategies and programs.
- Educate staff on compliance issues and procedures.
- Provide support in facilitating the process and key controls selection including obtain process and controls understanding and directly responsible for ongoing controls validation and reporting.
- Monitors the performance of the Compliance Program and relates activities on a continuing basis, taking appropriate steps to improve its effectiveness.
- Obtain management response from the service delivery teams for the issues identified.
- Support service delivery teams in performing the root cause analysis and remediation.
- Identifies potential areas of compliance vulnerability and risk; develops/implements corrective action plans for resolution of problematic issues and provides general guidance on how to avoid or deal with similar situations in the future.
Senior process associate – Accounts payable
Hov services (formerly known as Lason india private limited)
06.2007 - 12.2009
- Processing vendor Invoices – 2 way and 3-way matching.
- Vendor reconciliation – Perform vendor reconciliation everything and submit to approve it from client and clear ledger balances of critical vendors on every month.
- Vendor Query Handling - Email and call handling of queries from vendors.
Education
MBA - Finance
Twinning program (Loyola and Pondicherry university
01.2011
B. Com - undefined
A.M Jain college
Chennai01.2007
Higher Secondary - undefined
Govt. High school
Pallavaram01.2004
Skills
Operational efficiency management
Change management strategies
Compliance oversight experience
Business communication
Team leadership
Operations risk assessment
Stakeholder engagement
Certification
Certified in IFRS, 2017-01-01, Experience only in IFRS 16 – Leasing agreements and amortization of Invoices from vendor.
Timeline
Senior Assistant Vice president – Risk and Compliance Auditing
Wells Fargo Bank
09.2024 - Current
Senior Business Consultant – Enterprise Risk / Finance Transformation
E&Y GDS LLP
12.2021 - 08.2024
Manager (Accounts Payable/Accounts Receivable /Treasury)
Accenture Services Pvt. ltd.
12.2009 - 12.2021
Senior process associate – Accounts payable
Hov services (formerly known as Lason india private limited)
06.2007 - 12.2009
B. Com - undefined
A.M Jain college
Higher Secondary - undefined
Govt. High school
MBA - Finance
Twinning program (Loyola and Pondicherry university