Lalit Ambolkar
Mumbai
Summary
Highly motivated Fund Accountant with a proven track record of implementing new processes and collaborating with teams to drive fund performance. Skilled in reducing errors and increasing efficiency and accuracy. Excels in developing and implementing new reporting and calculation processes, resulting in significant reductions in errors and preparation time.
Overview
16
16
years of professional experience
Work History
Manager - Fund Accounting
BNP Paribas India Solutions Pvt. Ltd.
05.2022 - Current
- Led and managed a 14-member team while achieving Green KPIs for the Luxembourg funds.
- Ensured thorough review of fund NAV and returns before market release.
- Conducted Cash and Position reconciliation and performed root cause analysis for outstanding tasks.
- Assisted in and reviewed the BI events related to new fund launch, fund liquidation, and fees setup/modification.
- Collaborated with BM, PBM, BI and support teams for BAU activities.
- Ensured prompt completion of MIS reporting requirements for both internal and external stakeholders, including senior management and clients.
- Facilitated goal setting for team members and performed periodic performance assessments.
- Prepared Skills Matrix of team members and analyzed training requirements to enhance performance.
Manager - Equity Fund Services
Morgan Stanley Advantage Services Private Limited
01.2013 - 05.2022
- Conducted daily and month end reviews of fund's NAV & Returns
- Verified fund performance through analysis of pricing and identification of securities responsible for large P&L swings.
- Ensured accurate trade validation for clients, promptly resolving and processing failed trades while reporting any exceptions.
- Performed daily and month-end reconciliations of positions and cash balances in client's portfolio with counterparty statements, promptly reporting any discrepancies
- Validated Contributions/Withdrawals and processed Daily/Monthly Trading & Non-trading accruals, including calculating & charging Admin Fees, Management Fees, and Incentive Fees to fund.
- Reviewed invoices to process pay outs of Incomes/Expenses within specified TAT.
- Performed Month End Allocations and released final NAV of the funds.
- Engaged in regular communication with offshore account managers, reviewers, and other counterparts to troubleshoot daily and month-end problems efficiently.
- Managed task delegation within the team using a knowledge and experience-based approach, regularly communicating with colleagues for ensuring timely client deliverables.
- Effectively facilitated the onboarding process for 2 SMAs onto the MSFS platform.
Assistant
State Bank of India
01.2009 - 08.2011
- Ensured accurate processing of pre-shipment and post-shipment documents including Collection Bills (under Documentary Credit/without Documentary Credit), Bills Discounting, Advance Payment documents, BRCs etc from exporters.
- Managed precise documentation of SWIFT interactions such as bills acceptance, payment due dates, importer's bank reimbursement claims and important bank instructions.
- Ensured accurate documentation and timely delivery of reports on outstanding bills and forward contracts.
- Ensured accurate and timely submission of Form XOS to the RBI, containing information on export bills overdue for more than six months since shipment.
Education
Master of Management Studies - Finance
MET's Institute of Management
CAIIB -
Indian Institute of Banking and Finance
Certification in Trade Finance -
Indian Institute of Banking and Finance
GNIIT - Management Information Systems
NIIT
Skills
- Team Leadership
- Staff Development
- Process Improvement
- Reconciliation
- Accruals
Personal Information
- Date of Birth: 10/16/87
- Marital Status: Married
Hobbies and Interests
- Trekking
- Philanthropy
- Movies
Languages
- English
- Marathi
- Hindi
Affiliations
- Associated with the Ullas Trust conducting classroom sessions for the school kids.
- Registered platelets donor at the Tata Memorial hospital
Accomplishments
- Leading cash recon transition project from Mumbai.
- Led successful M365 migration for Mumbai division.
- Automated Equity Swaps Transaction Recon, resulting in operational efficiency and time saving for the firm.
- Led the second review process to achieve higher levels of accuracy and efficiency.
- Served as a representative of the department during the UDAAN - Interaction program on transforming SBI, engaging directly with top officials including the Chairman.
- Represented department in Video shooting of success for Project Citizen SBI - Intervention II.
Timeline
Manager - Fund Accounting
BNP Paribas India Solutions Pvt. Ltd.
05.2022 - Current
Manager - Equity Fund Services
Morgan Stanley Advantage Services Private Limited
01.2013 - 05.2022
Assistant
State Bank of India
01.2009 - 08.2011
Master of Management Studies - Finance
MET's Institute of Management
CAIIB -
Indian Institute of Banking and Finance
Certification in Trade Finance -
Indian Institute of Banking and Finance
GNIIT - Management Information Systems
NIIT
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