Devesh Kulkarni
Fund Accounting professional with extensive end to end NAV calculation experience for Hedge funds and private capital.
Pune
Summary
Accomplished financial professional with extensive expertise in fund accounting and administration, particularly at BNY. Proven success in operations management and stakeholder engagement, leading to significant process improvements and project migrations. Skilled in NAV and performance fee calculations, with a strong record of people management and development. Aiming to leverage financial acumen to enhance operational efficiencies in a dynamic environment.
Overview
16
16
years of professional experience
1
1
Certification
Work History
Lead Manager-Vice President II
BNY
Pune
09.2022 - Current
- Managing the AIS Hedge Fund reconciliation team by consulting with global fund accounting teams to ensure timely delivery of the Reconciliations
- Contribute to the conversion projects for migrating existing recons to the new tools
- Function as a single point of contact for any issues related to the AIS Reconciliation for Pune India location
- Attend regular global service calls and provide clear updates on the Stakeholder deliveries, KPI/KRI, conversion project deliverables
- Produce process improvement ideas and work with various stake holders
- Developing, adhering, and maintaining target resource deployment to ensure adequate resources for production management
Assistant Vice President
Enfusion Softech India Ltd
Mumbai
03.2022 - 09.2022
- Managing the data migration team and ensuring smooth conversion by consulting with global implementation heads and clients to ensure timely delivery of conversions, and eventually, implementation.
- Perform conversion projects for migrating clients' data from their fund administrators or legacy systems during Enfusion software implementations.
- Function as a single point of contact for any issues related to migration.
- Attend regular global implementation calls, and provide clear updates on the conversion project deliverables.
- Produce process improvement ideas and work with various stakeholders.
- Calculation of management, incentive, carried interest, and clawback calculation.
- Profit and Loss statement validation.
- Processing corporate actions, both mandatory and voluntary.
- Clear understanding of tax lot methodologies: FIFO, High Cost, Min Tax, processing manual lot unwinds, options assignments and exercises, swap resets, and FX rolls.
- Developing, adhering to, and maintaining target resource deployment to ensure adequate resources for production management.
Assistant Vice President-2
Apex fund Services
Pune
12.2019 - 02.2022
- Managing the hedge fund accounting operations and being responsible for seamless fund valuations on a daily and monthly basis.
- LP (Limited Partner) - GP (General Partner) structure.
- Calculation of management, incentive fees (high water mark, hurdle rate, waterfall calculation), claw back, carried interest.
- Assist with preparation, review of client reporting, and ensure that delivery deadlines are met.
- Provide ongoing operational support for complex products or investment types, which includes reconciling data received from third parties and coordinating the input of data into internal systems.
- Ensure trade, valuation, and cash flow information is updated timely and accurately in internal systems.
- Engage and own intra-office migrations and new client onboarding.
- Ensure adherence to applicable best practice policies and client-specific agreements. Involved in the review process for the monthly and daily NAV, and working on the identification of continuous process control.
- Support operations on projects related to automations, work migrations, conversions, etc.
- Coordinating with Internal/External Stake holders such as Securities/Trades and Pricing Team, Reporting Team, Investor Services team, Auditors, Client Service Managers and Clients
- Developing, adhering, and maintaining target resource deployment to ensure adequate resources for production management
Section Manager
Northern Trust
Bengaluru
01.2019 - 12.2019
- Managing an accounting operations section and responsible for fund valuations on a day-to-day basis
- Prepare & review the NAV calculation for the daily & monthly valuations
- Provide on-going operational support for complex products or investment types, which includes reconciling data received from third parties and coordinating input of data into internal systems
- Provide trading support functions for certain mandates
- Monitoring the overall functioning of processes, identifying improvement areas, and implementing adequate measures to meet the accuracy and timeliness
- Monitors staffing needs, including hiring and performance improvement decisions and ensures resources are available to accomplish priorities
- Monitor team goals as measured against the Section KPIs, identify process failures, and improve quality percentages
Associate Manager
SS&C Globe Op Financial Services
Gurgaon
07.2015 - 12.2018
- Hedge fund administration, private equity accounting.
- calculation including management fees, Incentive fees, (Hurdle rate, High water mark, waterfall calculation)
- Review of reconciliation documents/reports on a daily and monthly basis, which include cash position, income, and market value reconciliation to ensure that any variance in data between the books of the custodian, client, third party, and the administrator is investigated and resolved.
- Resolving and reviewing pricing breaks with the help of Bloomberg and other sources.
- Ensuring continuous interaction with the client to make sure that areas of concern can be worked upon for improved service levels, resolving client queries within the best possible time.
Assistant Manager
Citicorp Services India Limited
Gurgaon
02.2013 - 07.2015
- Preparation of end-to-end NAV calculation of hedge funds and private equity.
- Calculation of incentive fees, carried interest, capital interest, and clawback.
- Review of Cash Income Accrual and Position Reconciliation.
- Settling goals for team members and keeping the team motivated for future challenges, while resolving process-related queries.
- Closely worked with onshore clients to understand and mitigate their expectations, resulting in the successful migration of the project before the estimated deadline.
- This site was an assisting captive of HCL Technologies, B-Serve, and Citicorp Services India Ltd.
Operations Executive
Bank of New-York Mellon India
Pune
05.2010 - 12.2012
- Preparation of cash availability report on daily basis to provide exact details about the available cash on daily basis with investment manager
- Preparation of portfolio reconciliations (Cash-position-income-market value reconciliation) to support the Mutual Fund accounting task
Sales Development Manager
HDFC Life
Pune, Maharashtra
09.2008 - 11.2009
- Built diverse sales pipeline to exceed quota targets.
- Trained and mentored sales personnel to apply best practices and techniques.
- Qualified leads by scheduling introductory discovery meetings and calls.
- Collaborated with sales, marketing and other internal teams to meet shared goals.
Education
MBA - FINANCE
01.2008
B.Com. - Accounting, Business Administration
01.2006
Skills
- Fund accounting and administration
- NAV calculation
- Hedge and Private Equity
- Performance fee calculation by hurdle rate, high water mark, and waterfall calculation
- Carried interest and clawback calculation
- Data migration
- Operations Management
- Stakeholder management
- People management
- Performance appraisal
- Risk and Control
- Training and Development
Motto
To live with integrity & make a difference in the life of others.
Personal Information
- Passport Number: J9701556
- Date of Birth: 10/27/85
Languages
English
First Language
Certification
- Six Sigma Lean certification (BNY)
- Train the Trainer (SSNC Globeops)
Timeline
Lead Manager-Vice President II - BNY
09.2022 - Current
Assistant Vice President - Enfusion Softech India Ltd
03.2022 - 09.2022
Assistant Vice President-2 - Apex fund Services
12.2019 - 02.2022
Section Manager - Northern Trust
01.2019 - 12.2019
Associate Manager - SS&C Globe Op Financial Services
07.2015 - 12.2018
Assistant Manager - Citicorp Services India Limited
02.2013 - 07.2015
Operations Executive - Bank of New-York Mellon India
05.2010 - 12.2012
Sales Development Manager - HDFC Life
09.2008 - 11.2009
ICFAI - MBA, FINANCE
North Maharashtra University - B.Com., Accounting, Business Administration
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