MAMATHALAKSHMI H
Chartered Accountant - Finance Controller, Financial Planning & Analysis , Financial Compliance
Summary
Results-oriented Chartered Accountant with over 13 years of extensive experience in Corporate Financial Reporting, Regulatory Compliance, ICOFR, ITGC, Planning & Analysis, Taxation and Audits. Strategic-thinking individual experienced in turning low-performing organizations into top revenue producers. Offering engaging and pleasant personality with expertise improving customer relationships.
Overview
13
13
years of professional experience
3
3
Languages
Work History
Associate Director-Finance & Accounts
Acko General Insurance Limited
7 2019 - Current
- Project Manager for IND AS 117 implementation for Acko GI, conducting the Financial Impact assessment, Onerous Contract Testing, PAA Eligibility testing, Data Gap assessment, Expense Allocation, and Level of Aggregation as a part of Gap Assessment Phase.
- Conducting ICOFR and ITGC in-house since FY 2021.
- Process flow charts for both financial processes and IT processes were created as a part of the same. The charts were applauded and appreciated by the board of directors, and also recorded in the board minutes.
- Scaled up and conducted ICFR testing quarterly as of date.
- Handling IRDA Reporting and compliance, which includes Monthly Flash reporting, Segmental reporting, BAP Reports, Public Disclosures, Schedule V, Schedule VI, Quarterly NL returns, Quarterly BAP returns, Annual BAP returns, Accounted Transactions, Financial Highlights, MTP obligations, Rural, Urban, and Social Obligations, Health Insurance Returns, Solvency, EOM regulations, and Form I to X, and all the ad-hoc requests from the Ministry of Finance/IRDA/GIC.
- Automated Payment Gateway Reconciliations for Motor D2C Business, which accounts for more than 40% of the Total GI business, ensured to get 99% quality on reconciliation.
- Also highlighted the 1% issues in the data and thereby pushed for the tech solve by collaborating with the Tech team and leadership teams.
- Preparation of Quarterly Board Presentations and Audit Committee presentations for Acko GI.
- Instrumental in getting dealer refunds from Ackodrive dealers for the dealer balance outstanding, to the extent of 1.8 cr for FY 22-23 and FY23-24.
- Smooth accounting and reconciliation process set up for Ackodrive business and implemented a few controls in the day-to-day activities to ensure there is no revenue leakage and loss to the company.
- Created SOPs for all the financial and accounting processes for Ackodrive Service Center from scratch for both company-owned service centers as well as the franchise.
- Performed UAT testing of the Garage management Software, and thereby ensured that all the controls are in place and the process is running smoothly since inception.
- MIS and other analytical reports are prepared and provided within timelines to the Management, business functions, and accounting into the Head office books are happening monthly with zero escalations till date.
- Conducting physical verification of inventory and fixed assets on a periodic basis.
- Maintenance of Fixed Asset Register and performing Physical verification of Assets half-yearly for all the assets of the group entity.
- Review of the entire books of accounts to ensure that assets are properly capitalized and depreciated as per the life of the asset.
- Handling the Statutory Audit and the Internal Audit for the group entities and resolving the audit queries.
- Preparation of Premium Registers and check for the Reinsurance Calculations, Commission Calculations, and APD Balances for the partners, and preparing the revenue summary for each partner.
- Led teams of up to 8 personnel, supervising daily performance as well as training and improvement plans.
Corporate Financial Accountant - Consultant
MystartupCFO
11.2018 - 07.2019
- Financial accounting and Book keeping for US clients
- Coordination with the Tax team for data related to returns to be filed with Delaware and CA
- Annual returns preparation
- Vendor Analysis and Financials preparation for the US Clients as per US GAAP
Deputy Manager-Finance & Accounts
Bharti-Axa General Insurance Private Limited
09.2016 - 11.2018
- Participating in Management discussions with respect to payroll structure and contributing towards financial forecasting model, financial Planning & compliance and General Insurance & Compliance
- Part of Management discussions with respect to the Payroll structure and implementation of improvement plans
- Monitoring CWIP on monthly basis and its capitalization, revenue accounts for capital work in progress booked as Revenue item
- Identifying discrepancies in Direct & Indirect taxation; implemented timeline structure and ensured T-2 policy is maintained to meet statutory payments & filing of returns on time since 2017-18
- Responsible for maintaining accurate expense recording and tax payment, tax forecasting, note & disclosures to meet monthly & yearly deadlines
- Administering preparation of monthly TDS statements; collating information related to claims, premium, work contract, legal fees, directors fee, IT services, Reinsurance, Coinsurance, Rent, Provisions, Foreign Payments and Accounts Payable in coordination with respective departments for preparing service tax statements
- Handling Bank Reconciliations, daily Cash flow, suppliers bills, TDS, Service Tax, Calculation of GST and timely filing of personal income tax returns and all other statutory returns within stipulated timelines
- Verifying PAN validity and follow-up with respective departments in case of unavailability or invalid PAN
- Checking for Short Deduction & Non Deduction of TDS from the Profit & Loss statement
- Pivotal in getting GST registration for around 70 branches PAN India and a part of team for GST Implementation in coordination with consultants and concerned department to facilitate successful implementation of GST
- Managing monthly reconciliation with Books of Accounts, ER2 returns and FAR balances
- Ensuring strict compliance and adherence to rules, practices and procedures with regards to Service Tax and Reverse Charge Mechanism
- Updating Fixed Asset records & register with details of additions, deletion in fixed assets; calculation of profit & loss on sale of fixed assets; depreciation calculations and impairment testing of fixed assets on quarterly basis
- Furnishing required information on Scrutiny Assessment, Show Cause Notice to various departments and coordinating for information to be provided to Auditors during audits
- SPOC for the Tax & Statutory Audit and providing support to accounts payable team as and when required in day-to-day transactions and MIS
Deputy Manager II –Finance & Accounts
Anthem Biosciences Private Limited
12.2014 - 09.2016
- Participated in discussions with management and prepared projected financials based on given information and project reports for the upcoming projects
- Monitored secured loans and grants received and checked usage/accounting as per terms & accounting standards
- Prepared quarterly financials, ratios; forecasting & pricing models and reviewed company performance
- Managed company's investments, overall accounting and ensured expense payables were properly provisioned
- Checked and verified VAT, Service Tax & Excise Returns filed and submitted details for VAT-240 on yearly basis
- Provided Actuary for Actuarial Reports of Gratuity and leave encashment and checked calculations as per AS-15
- Submitted monthly DP statements and quarterly FFR to banks; prepared monthly stock & debt statements to assess drawing power of the organization and submission to bank within due date deadlines
- Calculated APD balances, reconciled with statements provided by Insurance authorities for mediclaim insurance and ensured adequate coverage amount had been considered
- Provided request letters for import payments or advance requests to the banks; weekly MIS of payments to be made in advance; and ensured Bill of Entries are submitted to bank within required time of 3 months
- Carried weekly analysis of local and foreign payables, reviewed invoices, generated balance confirmation letters to vendors along with account statement and reconciled vendor statement & rectified discrepancies
- Generated MSME Confirmation Requests to vendors and ensured payments remittances within 45 days
- Assisted in month end closing and reinstatement of foreign payables as on March 31st every year
Senior Officer I-Finance & Accounts
Apotex Research Private Limited
04.2013 - 12.2014
- Managed monthly payment of Service Tax and filing of Service Tax Returns; reconciliation with books of accounts & ER2 returns and submission of necessary documents for service tax refund
- Coordinated and provided required information for Service Tax departmental audit and handled accounting of Service Tax Bills and other transfer entries for the purpose of refund or credit
- Prepared monthly TDS statements; challans towards TDS for salaried and non-salaried transaction
- Handled monthly reconciliations, prepared and filed correction statements against any defaults raised in the original returns
- Initiated request letter for PCFC (packing credit foreign currency) loan; initiated online requests to bank, checked credit limit & usage and interacted with bank for PCFC transactions initiated
- Ensured financial system is in order to maintain municipal finances in an accurate and timely manner
Senior Executive–Finance & Accounts
Nova Specialty Surgery
04.2011 - 04.2013
- Administered financial system ensuring municipal finances were maintained timely and efficiently; maintained AP & AR systems and ensured accurate recording of cash transactions
- Handled Tax & VAT Audit of various firms, provided required information to Auditors for Tax & VAT audits conducted during the year; prepared Tax Returns, TDS statements, Service Tax Returns & Reverse Change Mechanism; and ensured timely filing of returns in strict compliance with practices & procedures
- Ensured timely payment and preparation of PF, Professional Tax, ESI Challans & returns and handled monthly reconciliations with payroll and books of accounts; TDS challans for salaried & non-salaried transaction
- Worked as audit field in charge for the statutory audits including team management, review of work, preparation of audit summary memorandum and project completion within given timelines
Senior Audit Assistant
K.S.Aiyar & Co
03.2008 - 03.2011
- Worked as audit assistant completing my internship here
- Have handled statutory audits, internal audits, tax audits, transfer pricing, VAT audits and RBAA independently
- Also have experience in filing ITR for individuals and firms
Education
CA Final (Group II) -
ICAI
CA Final (Group 1) - undefined
ICAI
GMCS course - undefined
ICAI
B.Com - Finance
Mount Carmel College (Autonomous)
01.2008 - 2011.01
Professional Education Examination Group II - undefined
Professional Education Examination Group 1 - undefined
ITT - undefined
Institute of Chartered Accountants of India
Pre-University Examination - undefined
Mount Carmel College
10th - undefined
Sri Vani Girls High School
Skills
Financial Accounting & Projections
Personal Information
Date of Birth: 06/30/87
Certification
Chartered Accountant
Work Availability
monday
tuesday
wednesday
thursday
friday
saturday
sunday
morning
afternoon
evening
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Timeline
Corporate Financial Accountant - Consultant
MystartupCFO
11.2018 - 07.2019
Deputy Manager-Finance & Accounts
Bharti-Axa General Insurance Private Limited
09.2016 - 11.2018
Deputy Manager II –Finance & Accounts
Anthem Biosciences Private Limited
12.2014 - 09.2016
Senior Officer I-Finance & Accounts
Apotex Research Private Limited
04.2013 - 12.2014
Chartered Accountant
11-2011
Senior Executive–Finance & Accounts
Nova Specialty Surgery
04.2011 - 04.2013
Senior Audit Assistant
K.S.Aiyar & Co
03.2008 - 03.2011
B.Com - Finance
Mount Carmel College (Autonomous)
01.2008 - 2011.01
CA Final (Group 1) - undefined
ICAI
GMCS course - undefined
ICAI
Professional Education Examination Group II - undefined
Professional Education Examination Group 1 - undefined
ITT - undefined
Institute of Chartered Accountants of India
Pre-University Examination - undefined
Mount Carmel College
10th - undefined
Sri Vani Girls High School
Associate Director-Finance & Accounts
Acko General Insurance Limited
7 2019 - Current
CA Final (Group II) -
ICAI
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