Pankaj Agarwal
Fellow Chartered Accountant
BENGALURU
Summary
Fellow Chartered Accountant with 11 years of finance experience, currently serving as Deputy Manager at Bharat Electronics Ltd, a renowned Indian Government-owned aerospace and defense electronics company. Demonstrated expertise in problem-solving and negotiation, coupled with an unwavering commitment to delivering exceptional results. Proficient in financial analysis, risk management, and ensuring compliance with regulatory requirements. Adept at streamlining processes and implementing strategies to enhance operational efficiency. Proactive manager with demonstrated leadership abilities, strategic planning expertise, and problem-solving acumen. Assists senior managers with accomplishing demanding targets by encouraging staff and coordinating resources. Methodical and well-organized in optimizing coverage to meet operational demands. Seeking new opportunities to drive business growth and contribute to organizational success.
Overview
12
12
years of professional experience
8
8
years of post-secondary education
4
4
Certificates
3
3
Languages
Work History
Deputy Manager - Internal Audit
Bharat Electronics Ltd
05.2018 - Current
- Company Overview: Renowned Indian Government-owned aerospace and listed defence electronics company
- Strategic Audit Planning: Suggested and executed a Risk-based Internal Audit Plan, ensuring coverage of key business processes and compliance areas within the company
- Audit Execution: Conducted comprehensive internal audits of 6 verticlals in with turnover of Rs.500 to 3500 Crores including the following activities:
- Performed internal audit in the areas of P2P, O2C, R2R, R&D, Capital assets,HR,Engineering Services, Liquidated damages;Affiliated Registered trust;Renewable Energy;GST & Custom;Labour cost booking;Material movement;Financial reporting
- Performed Revenue Assurance Including Verification of POC Sales and Exchange Rate Variation Claims
- Evaluating the Design, implementation and effectiveness of internal controls and identifying areas for improvement in financial and operational processes
- Performed special audits for assessment of procurement from SEZ and MSME vendors, evaluation of project profitability, evaluation of guest house and estate activities, material Gate Passes, RMA under Custom Act
- Red Flag Audit Reports submitted to Vigilance department of company for onward Enquiries
- Compliance Management: Ensured adherence to Govt regulations (especially Requirement of MOD) and company policies, collaborating with legal and policy implementation teams to mitigate risks and address compliance concerns
- Review of compliance to GST Act, Customs Act leading to identification of RCM liability, blocked credit availment, payment of custom duty on exempted goods
- Review of compliance to Insider Trading SEBI Norms resuting in deposit of insider trading amount collected from employees to SEBI IPEF from 201819 onwards amounting to Rs.8.06 lakhs
- Reporting and Communication: Prepared Significant Audit points(Synopsis) for senior management, highlighting findings, recommendations, and risk mitigation strategies to the Audit Committee.
- Team Leadership: Providing guidance to the newly recruited executives in internal audit department, arranged finance related training for internal auditors
- Fostered a culture of continuous improvement and knowledge sharing withi
- Suggested and Implemented Change in Accounting Policy for Recognition of Duty Scrip Income in FY 2022-23 from receipt to accrual basis in line with applicable financial reporting framework
- Suggested Regularization of goods sent to customer on sale on approval basis under GST Act worth Rs 10 crores lying for more than 3 years
- Reviewed GST credit availment leading to identification of unavailed input tax credit of Rs10 crores during 5 years
- Identified payment of custom duty on exempted goods leading to refund of Rs.73 lakhs
- Reported Non realization of Debtors worth Rs 9.98 Crores to Audit Committee in FY 2023-24. Realized in FY 2024-24.
- Identified materials owned by customer worth Rs.500 Crores lying with BEL and suggested & Implemented maintenance in SAP for better control
Assistant manager-Fund management
BEL Corporate
06.2013 - 04.2018
- Preparation & reporting of Fund management related MIS to Top Management (Viz: Funds Position vs Funds Outflow for the year)
- Handled the Investment Corpus of Rs.7000 Crores
- Investment Accounting in SAP (Investment/Maturity Proceeds/Interest Income/TDS Accounting/Dividend Accounting)
- Handled the Banking Operations for 32 Banks (Funding/Utilization/Bank Charges/Debtors/Submission of Monthly Stock Statements;
- Handled the EEFC A/c-USD/EURO/GBP (Balancing/Month End conversion as per RBI Guideline)
- Identification & negotiation of corporate FD rates with 32 Banks on Daily basis for optimization of Interest Income leading to additional Interest Income of Rs 174 crores over a period of 5 years
- Handled the Final & Interim Dividend Payout for the Company-Statutory Compliances under Companies Act/Income Tax Act-Liasioning with RTA for Dividend Payout to Shareholders
- Handeled Yearly Consortium Bank Meeting; Reviewed and ensured Bank Sanction Letter uniformity for all 32 banks
- Played as leader in Implementation of TReds Bills Discounting System in BEL
- Negotiation with 22 Bankers for Concessional Bank Charges for various Banking Services (Fund and Non Fund Based Limit of Rs.7000 Crores, Review of Sanction Letter Including Timely Renewal)
- Arranged High Value Local Bank Guarantees for Value Rs 5 to Rs.200 Crores for onward submission to Customers-Defense/Non Defence
- Arranged High Value Foreign Bank Guarantee at concessional rate from Reputed German Bank (First time in BEL)
- Core Team member in OFS (Offer for Sale) to BEL Employees of BEL Equity Shares during the FY 201617
- Arrangement of Corporate Salary Package with SBI (Negotiating the CSP Features)
Education
BBA -
B.K.Majumdar Institute of Business Administration
01.2006 - 01.2009
CA -
ICAI
01.2007 - 01.2012
Skills
Business Dealing
Certification
GST certification course
Timeline
Deputy Manager - Internal Audit
Bharat Electronics Ltd
05.2018 - Current
Assistant manager-Fund management
BEL Corporate
06.2013 - 04.2018
CA -
ICAI
01.2007 - 01.2012
BBA -
B.K.Majumdar Institute of Business Administration
01.2006 - 01.2009
Languages
English
Hindi
Gujrati
Personal Information
Date of Birth: 12/20/88
Awards
- Secured highest marks in subject of personnel management in institute of Gujarat university SYBBA exams 2008
- Secured 3rd rank at institute and 5th rank at Gujarat university SYBBA exams
- Participated in international conference on business ecosystem
Personal Information
Date of Birth: 12/20/88
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