Praveen Karmalkar
Pune
Summary
Dynamic finance professional with extensive experience at Tata Consultancy Services Ltd, excelling in management reporting and reconciliation. Proven analytical skills and expertise in Hyperion Financial Management drive successful budgeting and forecasting. Adept at leading teams and enhancing processes, ensuring high-quality service delivery and client satisfaction. Recognized for effective variance analysis and performance improvement.
Overview
14
14
years of professional experience
1
1
Certification
Work History
Assistant Manager, Management Reporting
Tata Consultancy Services Ltd
Pune
05.2023 - Current
- Leading a team of 12 financial analysts responsible for financial processing and management reporting for one of the leading U.S. banks.
- Monitoring the overall functioning of processes, identifying improvement areas, and implementing adequate measures to maximize customer satisfaction levels.
- Capitalize on knowledge and share it with the rest of the team when solving complex or first-of-a-kind exceptions.
- Working on validation to monitor any deviation in Budget, Forecast, and Actuals dataset, maintaining Master Data.
- Working on daily checks and validation for actuals to ensure we are good with processed data at the top level.
- Supporting the team with reconciliations, variance analysis, and other production activities using my domain knowledge and analytical skills.
- Escalation handling, implementing preventive measures to avoid any errors, and resolving client queries with proper analysis.
- Scheduling a call with the LOB partner to understand expectations for the upcoming closing and to implement an action plan for any feedback received for the ongoing closing.
- Preparation for the Business Review Deck and attending Business Review calls.
- Managing service operations for rendering and achieving quality services, providing first-class customer support by answering queries, resolving issues, and ensuring minimum turnaround time.
- Attrition management, people development, and maintaining a healthy team environment.
Business Analyst, Management Reporting
Tata Consultancy Services Ltd
04.2019 - 04.2023
- Accountable for delivering management reporting, the monthly close process, and operating system applications like DRM, OFSAA, OBIEE, and Hyperion. It involves hierarchy maintenance, GL reconciliation, fund transfer pricing, managerial adjustments, expense allocations, PCA, and cost allocations. Support actual budgeting and forecasting to support the aggregation of multi-dimensional results to the management.
- Responsible for actual processing through monthly data load and loading forecast data to Hyperion through lock and send loads.
- Connecting with LOBs for budgeting and forecast data templates, validating collected data templates, and putting together a consolidated budget for the company.
- Analyzing budgeting, forecasts, and actuals data using predefined controls and accounting standards.
- Having good hands-on experience in variance analysis and highlighting the same to LOB partners, along with RCA and an action plan.
- Responsible for the preparation of Daily, Weekly, and Monthly Reports (Product Profitability Reports, FTP Reports, HRC FTE Reports, and Regularity Reports such as FAS131).
- Launch auto reconciliations and manual reconciliations, and update outstanding items to stakeholders.
- Responsible for income statement and balance sheet reconciliations, and working on variances through trend and variance analysis using Hyperion Pull and SQL extracts.
Financial Analyst, FP&A and Reporting
ADP India Pvt Ltd
Pune
05.2016 - 03.2019
- Extensive hands-on experience with Access Database, OBIEE, Hyperion, and SQL queries.
- Having experience in Actual Processing through Manual Data Load and validating the same with source data.
- Having experience in the creation of rollover forecast templates and implementing the changes under the template based on feedback received during review meetings.
- Monitoring budget vs. forecast data and forecast vs. actual data by validating variances and raising the same to the onshore team along with proper reasoning.
- To carry out weekly, monthly, and yearly reporting and roll forwards.
- To provide support to the business partners on ad-hoc queries and reports.
- AP to GL reconciliation, AP manual reconciliations, account reconciliations; closing tasks monitoring, and open item key matching.
- Identify TR entries book by GL team, Book the entries into Finance ERP tool (PeopleSoft) and validate.
- Generate Reconciliation Journals in the Finance ERP (PeopleSoft), and push TR entries.
- To initiate transitions from business partners.
- Provide support to the automation team for the automation of basic reports.
- Working on monthly close activities.
Reconciliation Specialist
State Street Syntel Services Pvt Ltd
04.2013 - 03.2016
- Reconciliation of Investment Manager and Custodian.
- Reconciliation of cash and stock reconciliation between the Investment Manager and Custodian using TLM and PLM applications.
- Communicating with clients regarding the exceptions and unusual transactions affecting the reconciliation via emails or teleconferences.
- Evaluation of different aspects, like CoAc, trades, fees, derivatives, and many other aspects, using custodian data and Bloomberg.
- Identification and research of discrepancies in reconciliation and resolving them.
Associate
Infosys BPO Ltd
08.2011 - 04.2013
- Responsible for the P2P process (Accounts Payable Process).
- Creation of a vendor account within SAP.
- Preparation of the reconciliation statement as per requirements.
- Resolving pending queries connected with the onshore team and processing invoices.
Education
BBA - Finance & Accounting
Karnataka University
Dharwad01.2011
Skills
- GB Certified
- Reconciliation Expertise
- Analytical Skill
- Actuals and Forecast Processing
- Good hands on Microsoft Office
- Good Hands on Hyperion Financial Management
- Oracle and People Soft
- Computer Proficiency
- Hyperion Financial Management
- OBIEE & Oracle Database
- SQL (Toad for Oracle)
- SAP
- IHCM
- MS Office
- Data analysis
- Variance analysis
- Performance reviewing
- Recruiting and interviewing
Certification
- GB Certified.
- Six Sigma Green Belt.
Languages
English, Hindi, Kannada, Marathi, Konkani
Accomplishments
- Created an Excel-based standard template to process reclass MDL, which decreased production time by 30%
- Standardized FTP process and reconciliations applying possible automations and best practices
- Automated multiple data loads using Power BI and OFSAA rules
- Received multiple appreciations from LOB partners and onshore team
Awards
- Received multiple awards from clients and the company
- I received the Star award for best performance at Infosys for the year 2012
- Received multiple consecutive monthly and quarterly awards for best performance
- Received multiple client appreciations for domain expertise, BCP handling, and delivering the best in other areas.
Timeline
Assistant Manager, Management Reporting
Tata Consultancy Services Ltd
05.2023 - Current
Business Analyst, Management Reporting
Tata Consultancy Services Ltd
04.2019 - 04.2023
Financial Analyst, FP&A and Reporting
ADP India Pvt Ltd
05.2016 - 03.2019
Reconciliation Specialist
State Street Syntel Services Pvt Ltd
04.2013 - 03.2016
Associate
Infosys BPO Ltd
08.2011 - 04.2013
BBA - Finance & Accounting
Karnataka University
Similar Profiles
Vrunda ChindhadeVrunda Chindhade
HR Manager at Tata Consultancy Services, TCS, Tata Consultancy Services LimitedHR Manager at Tata Consultancy Services, TCS, Tata Consultancy Services Limited
Sreya BasuSreya Basu
Procare Analyst at Tata Steel(Tata Consultancy Services)Procare Analyst at Tata Steel(Tata Consultancy Services)
Arun VArun V
Program Manager at Tata consultancy services | Financial Ombudsman ServicesProgram Manager at Tata consultancy services | Financial Ombudsman Services
Naimish AgnihotriNaimish Agnihotri
Assistant Delivery Manager at Tata Consultancy Services, Global Shared ServicesAssistant Delivery Manager at Tata Consultancy Services, Global Shared Services
Khushboo PanchalKhushboo Panchal
Partner Success Manager at ConnectWise LLPPartner Success Manager at ConnectWise LLP