Bhalchandra Sadhale

Having expertise in Fund Accounting/ Nav Calculation, Financial Reporting, experience in Private Equity/Real Asset and Infrastructure Funds/ Hedge Funds/Mutual Funds along with reconciliation.

Responsibilities -

· Allocate work to the Team and ensure proper work allocation.

· Coordinate with client to draft and maintain SOP, escalate doubts on timely basis, Report regular progress to client

· Ensure backup of the funds between team members to avoid monotony at work.

· Monitoring, motivating and guide the team and always be aware of any operational issues faced by the team.

· Resolving client queries and working on training & development of the team.

· Ensuring regulator reporting of work to be done and provide regular feedback of each team member.

· Review of fund-level financial statements, allocation of income to partners and investor capital statements.

· Review of quarterly ILPA fee templates, Expense Management, Review monthly expense allocation to funds, review investor notices for capital call and distribution, sign-off PCAP and NAV on monthly/ quarterly/ Annually.

· Handling migration of Hybrid and PERE Funds from onshore teams and making sure SLA targets are met.

· Determination of allocation methodologies and interfacing with employees incurring fund-related expenses

· Drive process improvement and automation to enhance the process.

· Managing client relationship and other deliverable requirements, new access request, change in process approach on daily/weekly calls.

· Delivery deadlines to be met 80% of the time & zero delay and issues.

Targeting Zero errors escalated by clients, reduction in time spent on recurring tasks, Identify areas of efficiency and timely MIS reporting

Fund Accounting (Hedge/Mutual fund Reconciliation, NAV Validation)

• Handling team of 8 people in US fund accounting process. Monitoring closely on daily BAU performed by the team and oversighting or reviewing task performed by the fund accountants.
• Establishing NAV Package, confirming Trial Balance ledgers tie-up with various sub-ledgers, monitoring Cap stock Activity with TA reports, Various Expense booking, Income distribution, accrued income analysis, yield analysis, corporate actions, Portfolio valuation and pricing change from prior day to current day, trial balance and unsettled transactions with all Managerial and risk control measures.
• Identifying material exceptions and their NAV dilution impact on daily NAV.
• Validating trades and corporate action processed on funds and perform pre transaction and transaction close for current accounting period.
• Validating Futures contracts positions and booking collateral trades, interest between broker statement and accounting also verification of margin tie out. Validating FX recon and process new FX, repatriation and verifying with brokers and advisors if any variance and contact them to correct backup.
• Once Valuation done for funds verifying the changes between prior to current day and validating controls and check vendors (BBG, IDC, Markit etc.) for pricing issues also calculating pricing variances and submit proof.
• Handling team meetings, Monthly One on one performance majors and feedback sessions, conducting training to the new joiners and evaluating them with quarterly assessments PKT’s. Also running cross training functions within team to have adequate backups over funds and in scope task.
• Calculating monthly KPI, KRI, SLA parameters and report them to Management and different onshore partners and discuss them on weekly call upon misses, issues, process development in operations and new updates. Also finding out root cause for any miss and verifying and establishing controls also updating tracker for those and report them in monthly feedback evaluation with fund accountants.
• Providing audit requirement reports and working on continues process improvement, Risk and compliance, idea sharing to remove manual handling in process and automation development also updating it in Standard operating procedure (SOP) and maintain half yearly approval upon the changes in procedure.

· Team member of Initial transition team of 7 members and migrated process from State Street office, Kansas City (MO) Central USA for 60 billable resources.

· Worked upon every aspect of transition from end to end across all the recon, fund accounting and pricing teams.

· Created several clients specific SOP’s, access requirements, worked with each individual person onsite and understand the client specific requirements of the funds and downloaded to the offshore team members.

· Reviewing IM Reconciliation of Cash and asset recon for multiple clients and exception related to Income, expense and corporate actions before client delivery also working on derivative fund recon.

· Working on Cap stock booking, Expense booking, Income accrual and dividends, Expenses, Sink trade booking, Partial call booking also updating variable rates and interest shortfall rates from Bloomberg to accounting system.

· Pricing securities with difference vendors like IDC, BBG, Markit etc for the respective funds and verify stale and stratification reports for the movement curve.

· Taking care of 7 member’s team. Observing daily activity tracker, deliverables, issues and updates and report to the BAU and Client with Daily MIS.

· Perform review/audit for all the activities auctioned within the team.

· Working on schedule-D reporting for all pension funds send it to client to fulfill Tax and Insurance (Monthly, Quarterly, Annually).

· Worked on Daily Reconciliations for Equity, Income Security, Derivatives Collateral, Futures and Forwards, Mortgage back securities, Bank Loan and Corporate Actions in Holdings.

· Perform External Reconciliation against State Street, JPMorgan, Brown Brothers Harriman (BBH), Northern Trust.

· Handled three types of reconciliation- Holding, FX and Cash recon also review work done by other members.

· Maintaining the custom and standard benchmarks on reconciliation and review parameters.

· Worked with different tools and vendors like Bloomberg, JPM Morcom, SunGard, PMR, Web Portia, Electra Stars and Custodian Websites.

· Researched any questionable returns on recon as well as investments.

· Representing governance calls with the associated hubs and oversight.

· Responsible for preparing Audit packs on daily basis.

Fund Accounting:

· Accounting for Purchase & Sale of Securities, Incomes, Dividends and Corporate Actions.

· Reconciliation and verification of cash postings in accordance with custody movement.

· Ensuring the all the securities priced by the source such as Reuters and Stream pricing the swap securities and are under tolerance.

· Payments for Capital Calls, Management fees expenses, other fees expenses, contribution and dividend reinvestment.

· Verifying the General and the Sub ledger are matching.

· Following up with trade processing area and Income processing area if any trade or due is pending.

· Pricing of securities & calculating monthly Net Asset Values for various entities.

· Producing monthly reports for Hedge funds of Corporate Institutions with an aim to release accurate Net Asset Values for each fund on time as per the BLA under strict deadline.

Reviewing monthly performance of funds & updating the reason for Appreciation / Depreciation of NAV within the internal accounting system.