KAUSTAV ROY CHOWDHURY
New Delhi
Summary
An MBA (Finance), ICMA (Inter), certified Six Sigma Green Belt with rich corporate experience in Business Risk Management – Assurance Audit, Design & Operative Effectiveness – Monitoring & Testing, Fund Accounting, Reconciliation, NAV validation, Process Migration and Transition. Conceived and implemented many EUCs'/ automations tool to increase process efficiencies along with reduction of manual interventions.
Overview
28
28
years of professional experience
Work History
Associate Vice President -2
State Street Corporation
07.2021 - Current
- Part of Global Delivery (GD) – Business Risk Management (BRM) Assurance team
- Independently performing the Control Assurance Testing for – Design and Operative effectiveness to determine that these controls are in line with the organisation’s assurance and with respect to various regulatory requirement
- Support effective remediation of identified Control Deficiencies owned by the operations, including the review of planned actions, the ongoing monitoring of implementation measures and the re-assessment after completion
- Prepare & assist in monthly dashboards & other relevant reports as necessary & mandate
- Assist Line Manager with the preparation of reports to senior management on information gathered and analyzed to make recommendations for improvements to the management and control of the risk eco system
- Provide ongoing communication to internal stakeholders throughout the testing process to keep them apprised of progress and findings, escalating as appropriate
- Help tracking the implementation of recommended processes designed to strengthen internal controls as well as risk mitigation measures
Assistant Vice President
State Street Corporation
11.2019 - 04.2020
- Incident Management Daily Incident Calls: Leading calls to identify underlying causes of incidents and implementing controls to mitigate risks
- Business Analysis Independent and Collaborative Role: Conducting analyses to help Business understand their current situations, identify focus areas, and discover opportunities for improvement
- Development of Internal Trackers and Teamwork Simplification: Contributing to the creation of internal tracking systems to streamline teamwork and processes
- Continuous Learning and Support Ongoing Learning: Actively seeking new knowledge to support the team and management as needed
Assistant Vice President
Citi Corp Services India (P) Ltd
09.2012 - 07.2018
- Provide risk management consulting to support business in designing and implementing current and emerging risk mitigation strategies and controls
- Participating in risk management programs (risk identification, validation, control executions), CDA (Control design assessment), Sustainability / Control testing
- Partnering with onshore counterparts/stakeholders and Lead control testers across operational issue lifecycle
- Performing design effectiveness (DE) and Operative effectiveness (OE) testing as per internal methodologies to agreed deadlines
- Identify, escalate & streamline potential control testing issues/exceptions and ORIs (operational risk identifiers)
- Report monthly Risk and Control Governance metrics providing transparency on control environment, incidents and potential risk exposures
- Partnering with ERM and Compliance to improvise Control and issue management frameworks and repository
- Conducting end to end process reviews to identify gaps in procedure and recommend remediation plans
- Evaluation of Process mapping, SOPs & internal controls and Training & mentoring team members on procedural updates/changes
Manager
HSBC Electronics Data Processing India (P) Ltd
05.2008 - 02.2012
- Managing E2E Fund Accounting Operations which entails NAV Validation and Reporting for HSBC Global Client operations
- Performed Deep Dive valuation on NAV reconciliation across client portfolios on NAVs' breaching 10 bps
- Served as escalation point for issues related to operations by maintaining close coordination with oversight team
- Review HSBC to custodian reconciliations, identify and determine cause, notify Account Manager of breaks (Cash, Position & Collaterals) for necessary action
- Leadership/Cost Saving Initiatives Taken:
- Process Re-Engineering by increasing Auto Match rate from 42% to 94%, resulted in reducing the manual touch point and process stabilization with 3.7 FTE reduction, enabling better team performance
- Custody Swift Aggregation ahead by 45 minutes enabling Marginal Gain into DNA of GPC
- Creation of Loader files (Write offs, Dr/ Cr, Fees, Interest, Reversal, Spots, Sweep, Tax Reclaim) for automatic loading of transactions into accounting system
- Conceived and implemented SQL checks and EUCs for 15% better operational control
- Recruit team members and develop / train staff to maximize individual contribution
Team Manager
Cognizant Technology Solutions India Pvt. Ltd
07.2007 - 04.2008
- Holds merit of handling Private Equity” Fund Accounting Process for one of largest Alternative Investment Bank at New York
- Ensured efficient fund allocation for incoming / outgoing cash sweeps, monitored cash movement & posted entries in accounting application Investran along with client interaction on operational issues
- Expense schedule / wire instructions and communication to Onsite team
- Distribution Schedule (follow–on, or allocation of sale proceeds to legal entities)
- Processing capital activities i.e., Subscription, redemption, transfers, switches
- Preparing call and distribution notices, wire details and related schedules
- Preparation of Quarterly / Annual Financial Statements like Income Statement, Balance Sheet, Schedule of Investment, Partner's Capital Account & Notes to Accounts, etc
Senior Research Analyst
Karvy Global Services Ltd
01.2005 - 06.2007
- Played pivotal role in handling preparation of earnings bulletin and detailed financial analysis reports to summarize and forecast financial positions for US listed Securities
- Drafting of Equity Research Reports using DCF & relative valuation techniques for a focus list of GCC Securities
- Worked on Valuation Model based on standardization financial template, facilitated DCF and prepared Equity Research Reports
- Generated First Reaction Reports following corporate actions
- Served as Certified Internal Auditor by DNV on Information Security Management System (ISMS) and took initiatives for ISO 9001:2000 & ISMS - ISO 27001:2005 for Research & Analytics Department
Senior Team Leader
NU Wave E Solutions (P) Ltd
04.2003 - 12.2004
- Played stellar role in mapping Financial Information on XBRL Taxonomy as per US GAAP and proficiently in spearheading a team of 70
- Ensured that XBRL Taxonomy as per US GAAP on Financial Statements like Balance Sheet, Income Statement & Cash Flow Statement in an effective manner
- Holds distinction of conducting several training sessions to enhanced productivity in teams' performance
- Conducted team member meetings and updated members on best practices and continuing expectations
- Discovered training needs and provided coaching
- Produced weekly, daily and monthly activity reports and forecasts
Accounts Officer
C & R Leather Fashion (P) Ltd. & Associates
04.1999 - 12.2002
Research Associate
Indian Institute of Management, Ahmedabad (IIMA)
08.1998 - 03.1999
Industrial Trainee
Indian Oil Corporation Limited
03.1997 - 03.1998
Education
MBA - Finance
Indian Institute of Social Welfare & Business Management
Kolkata, West Bengal05.1996
ICAI - Accounting And Finance
ICAI, Institute of Cost Accountants of India
Kolkata, West Bengal05.1994
B. Com - Accounting And Finance
St. Xavier's College - Calcutta University
Kolkata, West Bengal05.1992
Skills
- Monitoring & Testing
- Business Risk Management
- Design & Operative Effectiveness
- Control Testing
- Incident Management
- Fund Accounting
- Reconciliation
- NAV Calculation
- Stakeholder Management
- Ops Risk Management
- Migration & Team Management
- Process Automation
- Client Onboarding
- Transition
- Process Re-Engineering
Timeline
Associate Vice President -2
State Street Corporation
07.2021 - Current
Assistant Vice President
State Street Corporation
11.2019 - 04.2020
Assistant Vice President
Citi Corp Services India (P) Ltd
09.2012 - 07.2018
Manager
HSBC Electronics Data Processing India (P) Ltd
05.2008 - 02.2012
Team Manager
Cognizant Technology Solutions India Pvt. Ltd
07.2007 - 04.2008
Senior Research Analyst
Karvy Global Services Ltd
01.2005 - 06.2007
Senior Team Leader
NU Wave E Solutions (P) Ltd
04.2003 - 12.2004
Accounts Officer
C & R Leather Fashion (P) Ltd. & Associates
04.1999 - 12.2002
Research Associate
Indian Institute of Management, Ahmedabad (IIMA)
08.1998 - 03.1999
Industrial Trainee
Indian Oil Corporation Limited
03.1997 - 03.1998
ICAI - Accounting And Finance
ICAI, Institute of Cost Accountants of India
B. Com - Accounting And Finance
St. Xavier's College - Calcutta University
MBA - Finance
Indian Institute of Social Welfare & Business Management
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