Nitish Lokare
Treasurer, Cash Management.
Bengaluru
Summary
Experienced with comprehensive cash management and liquidity optimization. Utilizes in-depth knowledge of financial systems and risk mitigation techniques. Track record of implementing effective treasury solutions and ensuring compliance with regulatory requirements.
Overview
13
13
years of professional experience
Work History
Treasury Operations Analyst
GKN Aerospace Engine Systems India Pvt Ltd.
12.2022 - Current
- Establish and manage short- and long-term cash forecasting models by acquiring and verifying inputs from accounting and FP&A, highlighting variances for review.
- Established and managed short- and long-term cash forecasting models by acquiring and verifying inputs from accounting and FP&A, highlighting variances for review to support informed financial planning.
- Performed in-depth analysis of forecast variances to pinpoint critical discrepancies. Provided insights on root causes of variances, aiding treasury manager's strategic decisions. Streamlined communication with treasury manager to resolve discrepancies effectively.
- Assembled and circulated daily, weekly, and monthly treasury reporting packages detailing cash positions, liquidity metrics, debt utilization, and investment balances to provide comprehensive oversight.
- Administer and log investment transactions (money markets, repos, time deposits) alongside derivatives (FX forwards/swaps, interest rate swaps) guaranteeing prompt and accurate system entries.
- Maintained and updated treasury processes, procedures, and desktop guides, identifying opportunities to streamline operations, strengthen controls, and mitigate risks.
- Administered banking relationships with Barclays, Citi, Rabo, SEB, and DB.
Treasury and Cash management. (Team Lead)
VFISLK {Voya Financial and SLK Software Pvt Ltd}
03.2021 - 11.2022
- Managed cash/liquidity forecasts for all insurance segments to optimize financial planning.
- Monitored daily cash balances and liquidity of 200+ bank accounts, ensuring proper funding for operations.
- Processed large claim payments based on precise financial analysis.
- Managed wire transfers and ACH transactions to vendors via bank portals for Wells Fargo, BOA, BNY Mellon, JPMC, State Street & Citi.
- Funded sub accounts and the main account to maintain adequate liquidity for smooth processing.
- To handle large claim payments based on accurate forecasting.
- Coordinate Opening/Closing of all U.S. bank accounts and Money market funds.
- Daily Check Disbursement account analysis to monitor check clearing.
- Migrated Treasury and Cash management process from Genpact to VFISLK
- Led a team of seven individuals, fostering teamwork and accountability in daily operations.
- Led team meetings, assigned tasks, managed leave, and coordinated cross-training to enhance team collaboration.
- Established backup procedures to manage emergency situations and ensure business resilience.
- Objectives setting, performance appraisal and monthly one on one connect.
- Systems: Kyriba, EDS Peoplesoft, All bank portals.
Treasury Services/ Nostro Management. (Associate Manager)
Standard Chartered Global Business Service
07.2017 - 02.2021
- Global funding of Nostro account of different currencies across the globe.
- Identification of Actual cash flow with Projected balances.
- Identified actual cash flow against projected balances to enhance funding accuracy.
- Identifying of Erroneous trades to ensure effective and accurate funding forecasts to reduce overdraft and opportunity cost and demonstrate effective cost management for the bank.
- Generation of MIS reports.
- Identifying Erroneous trades to ensure effective and accurate funding forecasts to reduce overdraft and opportunity cost and demonstrate effective cost management for the bank.
- Escalation handling, root cause analysis and managing the process and team.
- Systems: TLM recon,TLM CMS, Murex, Opics, FX
Nostro Management (Analyst)
Deutsche Bank : DBOI Global Services Pvt. Ltd.
11.2014 - 07.2017
- Delivered funding forecasts to global finance, facilitating early balance funding and transferring funds between business line accounts and commercial nostros.
- Ensured reconciliation of forecast to actual cash movements, enabling accurate cost allocation to relevant business lines.
- To identify and investigate any causes of mis-funding and providing Interest Controlling with reporting and detailing the allocation of overdraft and credit interest to responsible businesses.
- Performed trend analysis to support informed decision-making.
- Real time money market bookings for 36 different entities with DB.
- Reviewed trade entries to enhance accuracy in funding forecasts and minimize opportunity costs.
- Detailed follow up with business to find out the settlement status of the trade booked.
- Trend analysis.
Foreign exchange settlements (Markets Officer)
Australia and New Zealand Bank Private Limited. [ANZ]
05.2013 - 08.2014
- Foreign exchange cash settlements.
- Validated IBAN for European region payments to ensure accuracy and compliance.
- Monitored repair queue and released payments to expedite transaction processing.
- Inward and outward cash payment settlements.
- Monitoring of repair queue and releasing the payments.
- Coordinated with internal departments (foreign exchange enquiry, client onboarding team, dealers) to facilitate seamless payment operations.
- Handling value today share points.
- Documented notable successes in performance evaluations.
- Honored as employee of the month due to consistent high-quality work in August 2013.
- Recognized with a spot award for excellence in job performance in January 2014.
- Recognized as employee of the month for outstanding achievements in September 2015.
- Awarded team of the year for outstanding collective performance in 2014.
- Recognized as the best team for delivering exceptional results during the quarter ending September 2015.
- Recognized as a value performer for delivering impactful results in the second quarter of 2020.
Education
Masters In Internal Business - International Business
St. Joseph’s College of Commerce
Bangalore01-2012
Bachelor of Commerce -
St. Aloysius College
Mangalore01-2010
Skills
Liquidity management
Variance analysis
Financial forecasting
Forecasting accuracy
Variance analysis
Bank relationship management
Effective communication skills
Adaptability and flexibility
Adaptability and flexibility
Interests
Swimming, Skating, Listening to music, Travelling, Cooking, and Watching movies
Timeline
Treasury Operations Analyst
GKN Aerospace Engine Systems India Pvt Ltd.
12.2022 - Current
Treasury and Cash management. (Team Lead)
VFISLK {Voya Financial and SLK Software Pvt Ltd}
03.2021 - 11.2022
Treasury Services/ Nostro Management. (Associate Manager)
Standard Chartered Global Business Service
07.2017 - 02.2021
Nostro Management (Analyst)
Deutsche Bank : DBOI Global Services Pvt. Ltd.
11.2014 - 07.2017
Foreign exchange settlements (Markets Officer)
Australia and New Zealand Bank Private Limited. [ANZ]
05.2013 - 08.2014
Masters In Internal Business - International Business
St. Joseph’s College of Commerce
Bachelor of Commerce -
St. Aloysius College