Mehul Chaturvedi

1. HDFC Bank (USGAAP audit - Merger)

· Risk assessment – In this merger year, my team evaluated risks including migration, compliance, regulatory, environmental, and business, along with the impact of merger-related synergies.

· Areas Managed – Treasury, Entity level controls and payroll processing.

· Challenges faced –

• Complex Financial Statements: fair valuation
• System Integration: Aligning diverse accounting systems.
• GAAP Compliance: Ensuring adherence to US GAAP principles.
• Disclosure Requirements

· Resolution –

• Attended internal training and read ASC 320,321,323,325 and ASC 820 for Investments
• Liaised KPMG IT team to test system integration
• Testing of all USGAAP adjustments in relation to areas managed
• Completed disclosure checklists to ensure the completeness of applicable disclosures.

2. HDFC Life (USGAAP audit – first time adoption of USGAAP due to merger)

· First time adoption of USGAAP challenges and resolution:

• Stakeholder Communication: Engaged with management and specialists regarding the impact of USGAAP on the organization.
• Internal Controls Assessment: Reviewed and advised on strengthening internal controls for US GAAP compliance.
• Training and Education: Providing adequate training and support to client staff on US GAAP requirements and changes.
• Risk Control Matrix Update: Updated the risk control matrix to reflect US GAAP changes.
• Implementation Oversight: Supervised the application of US GAAP adjustments and ensured accuracy.
• Control Remediation: Monitored and guided the remediation of control weaknesses.
• Compliance Testing: Conducted testing to verify compliance with US GAAP standards.
• Documentation and Reporting: Ensured comprehensive documentation and accurate reporting of US GAAP transition processes.

• Drove comprehensive audit procedures and rigorous control tests for pivotal areas like Borrowings, Loans, Treasury, and Impairment, ensuring unmatched financial precision and compliance.
• Ensured impeccable compliance of financial statements with IFRS standards, setting a new benchmark for transparency and regulatory adherence.
• Delivered meticulous reviews of consolidated financial statements, disclosures, and critical area notes, elevating financial reporting standards and clarity.
• Partnered with Derivatives specialists to for accurate and derivatives valuation, enhancing financial strategy.

Deutshe Bank AG:

• Analyzed client processes, identified critical risks, and implemented robust controls during comprehensive walkthrough.
• Supervised team members, ensuring timely completion of tasks and providing expert guidance for seamless execution.
• Engaged with middle and top management to understand business operations, providing strategic feedback and discussing timely remediation approaches.
• Played a pivotal role in budget discussions with the EY Specialist Team, facilitating valuation procedures and coordinating with IT teams for application and IT General Controls.
• Audit planning and management, ensuring timely completion and delivering audit reports with critical findings.
• Conducted detailed financial statement variance analysis, driving financial accuracy and integrity.
• Ensured compliance with Accounting Standards, Auditing Standards, Companies Act, CARO, and other regulations, maintaining high financial governance standards.
• Drafted impactful client deliverables, including audit committee presentations and audit reports, with minimal review comments from senior executives.
• Collaborated with cross-functional teams on technical compliances, efficiently coordinating clearances on complex matters.
• Led and mentored an audit team of 5-6 members, fostering professional growth and excellence.
• Conducted in-depth SOX compliance testing for valuation bonds, ensuring regulatory adherence.
• Developed process flowcharts after understanding key processes and executing remediation controls, enhancing process efficiency.
• Coordinated with teams across APAC, US, UK, and Germany, ensuring global audit coherence and compliance.
• Adhered to organizational auditing methodologies, applying best practices and standards consistently.
• Created a comprehensive knowledge base before audits by engaging with clients and KPMG, ensuring thorough preparedness.

HDFC BANK

• Performed walkthrough and test of controls for Deposits, Direct tax and Indirect tax, contingent liabilities and other liabilities.
• Used EY HELIX to find interest rate outliers - Reviewed disclosures and directors report.
• Reviewed bank ECL policies and computations.
• Prepared Financial statements as per Ind-AS for Holding company.
• Reviewed consolidated Bank statements.

Deutshe Bank AG , INDIAN Branches

• Performed Walkthrough and test Controls for Deposits, Direct Tax and Indirect Tax, Contingent Liabilities, other assets and other liabilities.
• Prepared and reviewed certificates (CRR, SLR, Net worth DEAF, Interest subventions, DICGC,etc) to be submitted to RBI.
• Audited Subsidiaries (DIHPL,DIIPL, DBOI, DCIB, DEIPL, DISPL & DTSPL)
• Coordinated with the global team of ITGC Testing performed by them.

Achievements:

• Awarded the prestigious 'I am Exceptional Award' twice (Category: Entrepreneurial – Team Award), recognizing outstanding leadership and entrepreneurial excellence.

Digital Transformation project of ICICI Bank

• Developed an efficient profit and loss model.
• Evaluated project budget
• Conducted project forecast analysis
• Conducted cost analysis
• Conducted income analysis for improved performance
• Ensured accurate recording of project expenses.
• Continually liaised with management to ensure clear understanding of project's financial performance.

YES BANK

• Valuation of Bank by evaluating Investments, Bonds, securities and loan portfolio of the Bank.
• Prepared Project Presentations for our clients

• Filed reports accurately and timely in compliance with relevant laws.
• Conducted management interviews to assess internal control effectiveness.
• Monitored corporate governance standards adherence.
• Identified and mitigated potential fraud risks.
• Reviewed financial documents for policy compliance.
• Analyzed operations, improving internal control systems.
• Documented audit findings in formal reports for senior management.