Sagarneel Ray
Pune
Summary
Accomplished Executive Director recognized for leveraging strong team leadership and development to drive forward progress. Highly organized, detail-oriented leader skilled in directing high-performing teams to develop solutions and solve operational and technical problems. Success implementing systems across multiple operations with superior organizational and communication skills.
Overview
27
27
years of professional experience
Work History
Executive Director – Financial Accounting
Credit Suisse
01.2021 - Current
- Company Overview: Executive Director, Credit Suisse (CS), an UBS Group Company, Pune
- Leadership position in Group Finance in Credit Suisse and Head of Financial Accounting, Asia Pacific Region (FA APAC)
- Leading a team of 75 professionals in accounting and reporting including preparation of financial statements across domiciles, global financial consolidation, monthly close & reporting, MIS reporting, internal & external audit, tax, FP&A and regulatory reporting
- Covering both Investment Banking and Private Banking businesses of Credit Suisse
- This includes Wealth Management, Asset Management, Equities business, Repos, and other products
- Leadership to new business initiatives and process improvement including IT setup
- Stakeholder relationships with entity CFO, Board of Directors (C-suite), executive committees, oversight bodies, front office, product control, local onshore finance, legal & compliance, tax, M&A and Regulatory
- Leadership role in enterprise change management, business transformation, lean / efficiency projects, and Target Operating Model implementation
- Critical and leadership role in implementation of UBS & CS Integration and IFRS conversion for CS Group
- Leading projects on bank mergers, business transformation, technology adoption and client migration
- Primary role in handling financial and regulatory crisis situations
- Oversee and provide technical guidance to resolution of complex accounting issues and support technical accounting research
- Review and challenge technical accounting topics
- Global Lead for IFRS in CS Group Finance and previously Global IFRS 9 Process Steward
- Led IFRS adoption including IFRS9 Impairment process
- Directly managed auditor rotation from KPMG to PwC and from PwC to EY for CS APAC entities
- Executive Director, Credit Suisse (CS), an UBS Group Company, Pune
- Leadership position in Group Finance in Credit Suisse and Head of Financial Accounting, Asia Pacific Region (FA APAC)
- Built and maintained strong company teams by hiring and training qualified staff to create positive and productive work environments.
- Guided staff through periods of organizational change, maintaining morale and engagement during transitions.
- Optimized operational workflows, reducing overhead costs and maximizing resource allocation.
- Championed diversity, equity, and inclusion efforts within the organization to create a more inclusive work environment.
Senior Vice President - FA & LEC
Credit Suisse
07.2014 - 12.2020
- Managed a team of financial accountants in executing the business as usual (BAU) control and financial accounting processes for 100+ entities / SPVs across multiple geographies
- Led CS team on issue of bail-in instruments as required by post 2008 bank regulatory laws
- Instrumental role in setting up new global delivery center (shared services) in India for Credit Suisse
- Experience in India Finance operations including SEZ / STPI regulations and GST implementation
- Identified opportunities to improve business process flows and productivity.
- Developed measurement tools, dashboards, and reports to track metrics on adoption and effectiveness of initiatives.
- Established a culture of continuous improvement, leading by example to drive operational excellence across the organization.
- Developed, coached and provided feedback to top-performing teams using strong leadership and analytical thinking skills.
Senior Manager (non-signing Partner) - Audit
KPMG
04.2010 - 07.2014
- Managed Audits under Indian GAAP, IFRS & US GAAP including SOX & other control frameworks
- Worked with MNCs listed in India, US, and Europe as well as large Indian companies, both listed & unlisted
- Extensive experience in a variety of industries including Manufacturing, Financial Services / NBFC, Construction / Real Estate, Advertising / Entertainment, Retail, IT, Pharma / Healthcare, NGO, Shared Service Centers and BPO delivery centers
- Consultancy experience includes IFRS conversion, Process reviews of Accounting Outsourcing Industry, Operations Costing Systems Formulation and Implementation, Investigation and Feasibility Reports, Bank Credit Systems Audits and Due Diligence
- Leading large multi-disciplined, cross-functional teams on various multi-location assignments
- Risk management & regulatory compliance
- GAAP compliance & corporate law compliance
- Interacting with high profile board of directors, reporting & presentations for board and committees
- Led KPMG in board meetings and audit committee meetings with listed clients
- Evaluating and reporting on internal control systems / procedures including anti-fraud controls
- Assisting clients to deal with mergers, acquisitions and divestment valuation and accounting
- Business development & marketing, new clients, and cross sells
- Active role in proposals and firm initiatives
- People Management Leader, providing work environment motivational support
- Highest level of accreditation for IFRS as per KPMG Policies
- IFRS Trainer (internal & external)
- Led IFRS Training Program for all India in KPMG for 5 years
- Achieved prominent level of efficiency on assignments managed and cost reduction of 20%+ average
- Profit Centre Manager for operations of KPMG Delhi Audit
- Reduced costs, optimized resource allocation, and improved efficiency in managing projects.
- Collaborated closely with peers from other departments to drive organizational success jointly as one cohesive unit.
- Promoted a culture of continuous learning through regular workshops, seminars, and training sessions for staff.
- Consistently met or exceeded annual performance targets set by senior leadership.
Manager
KPMG
01.2006 - 01.2010
Assistant Manager
KPMG
01.2004 - 01.2006
Assistant Manager, Audit & Business Advisory
PwC
01.2003 - 01.2004
Senior Associate
PwC
01.2001 - 01.2003
Articled Student (Trainee)
Price Waterhouse
01.1998 - 01.2001
Education
Chartered Accountant - Accounting And Finance
Institute of Chartered Accountants of India
05-2001
Diploma in Business Finance -
ICFAI
1999
Bachelor of Commerce (Honours) -
St. Xavier's College
Kolkata1998
Skills
Financial Accounting and Controls
Internal & External Audit
Analytical aptitude
Change management
Risk assessment & Risk management
Optimizing & streamlining financial operations
Improving staff performance
Executing special business projects,
Strategic collaborator
Coaching & Mentoring and Emotional intelligence
Timeline
Executive Director – Financial Accounting
Credit Suisse
01.2021 - Current
Senior Vice President - FA & LEC
Credit Suisse
07.2014 - 12.2020
Senior Manager (non-signing Partner) - Audit
KPMG
04.2010 - 07.2014
Manager
KPMG
01.2006 - 01.2010
Assistant Manager
KPMG
01.2004 - 01.2006
Assistant Manager, Audit & Business Advisory
PwC
01.2003 - 01.2004
Senior Associate
PwC
01.2001 - 01.2003
Articled Student (Trainee)
Price Waterhouse
01.1998 - 01.2001
Diploma in Business Finance -
ICFAI
Bachelor of Commerce (Honours) -
St. Xavier's College
Chartered Accountant - Accounting And Finance
Institute of Chartered Accountants of India
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