Shashank Sonawale
Pune
Summary
Highly focused professional with over 10 years of experience at AXA Business Services Pvt Ltd in Pune. Expertise in GL (RTR) Team/Intercompany/FP&A. Currently serving as an Assistant Manager for the FP&A profile in a hybrid role involving people management and processing. Experience in shared services teams including Record to Report, Balance Sheet Reconciliations, Intercompany, Cash and Bank, Revenue accounting, and month-end closing.
Overview
11
11
years of professional experience
1
1
Certification
Work History
Asst. Manager
AXA Business Services Pvt Ltd
12.2022 - Current
- People management for team of 5 members including completing their yearly performance appraisal
- Provide FP&A finance support to the accounting teams related to expenses, reporting, and metrics in a timely manner
- Conduct scenario and sensitivity analyses to predict potential outcomes and impacts
- Built Anaplan models for cost allocation simulation.
- Built Cost Allocation setups in SAP for different entities
- Partner directly with the finance team and central FP&A groups to collaborate on metrics, goals, and business reviews
- Reviewing key Expenses processes such as cost allocation, Budget/Plan uploads, Standard Reports and Manual Journal entries related to transfers, prepayment and accruals
- Identify and research variances to forecast, budget, and prior-year expenses, proactively identifying opportunities for improvement
- Develop maintain effective relationships with business partners and cross-functional teams at all levels of the organization
- Assisted in creating RCSA controls for team
- Monitoring the KPI and ensuring team adheres to the timeliness
- Conducting Governance Calls with different stakeholders
- Supervised day-to-day operations to meet performance, quality and service expectations.
Intercompany Analyst ERP - SAP
BP India Solutions Pvt Ltd
12.2020 - 12.2022
- Reporting of reconciliation prepared on monthly and quarterly basis
- Analysis of un-reconciled entries and finding a solution to clear the same
- Ability to recognize unusual transactions, trends, or variations and communicate with respective supervisor or other responsible individuals
- Process monthly routine journals and catering ad-hoc requests as per ledger controllers
- Preparation of amortization schedule of the prepayment entries and posting the same
- Preparation of Intercompany reconciliations (Sub ledger to Settlement system and vice versa)
- Preparation of IFA (Interco Funding Account) reconciliations and manage the postings
- Clearing aged receivables and payables open items
- Preparation of overdue receipts report and follow-up with TPs
- Posting Intercompany Invoice accruals for unposted invoices
- Process monthly routine journals and catering ad-hoc requests as per ledger controllers
- Finding out Intercompany imbalances and clearing IC Vendor/IC Customers accounts
- Provide solutions to ledgers for alarming issues if there is any issue regarding intercompany imbalances or missing postings
- Manage and prepare dashboard for monthly calls for Intercompany area for monthly close calls
- Contact AP and OTC team for any support require in clearing Intercompany imbalances or clear aged line items
- Handling the shared mailbox status, assign emails/activities and maintain process operational trackers
- Taken remote transition from Accenture for Intercompany end to end activities for multiple consolidation units and company codes
- Bring standardization and digitization for process improvements, provide solutions on best practices across the global process using power BI for effective controls and management reporting
Associate Finance Consultant - (R2R) ERP - SAP
AXA Business Services Pvt Ltd
06.2016 - 12.2020
- Performed general accounts analysis, including bank accounts, prepaid expenses and accruals
- Preparation of reconciliation (bank accounts and GL Accounts) output on time with high level of accuracy
- Reporting of reconciliation prepared on monthly and quarterly basis
- Analysis of un-reconciled entries and finding a solution to clear the same
- Maintaining the record of each account reconciled by the team and ensuring that adequate documentation exists to support the account balances
- Professional interaction and communication, both within the organization and with client contacts and proactively work with the onshore team for timely clearance & resolution of reconciliation variance & aged outstanding items
- Ability to recognize unusual transactions, trends, or variations and communicate with respective supervisor or other responsible individuals
- Performing IFC control on daily and weekly basis and maintain the control documents
- Preparation and posting of monthly bank transaction journals and posting month end Accruals and Adjustment entries as required
- Preparation of monthly Profit Loss & balance sheet accounts postings
- Preparation of FX revaluation statement and FX gain loss journals and posting the same
- Performing DE-offsetting for Asset and Liability accounts to ensure they have correct balances
- Performing system reconciliation between SAP and BO, SAP and Reporting/consolidation tool
- Performing Subsidiaries company journal postings and preparing the IFC document for the same
- Preparing and posting month end journals for Subsidiary company trail balance
- Performed general accounts analysis, including bank accounts, prepaid expenses and accruals
- Preparation of Sub ledger to GL reconciliations for Intercompany receivables and payables accounts
- Processing Netting activity for intercompany payments/receipts and reconcile the same
- Handled the Responsibility of Reporting team KPI, assisted in revision of KPI's
- Preparation and submission of reconciliation as required by the Finance Controls Management Group (FCMG)
- Reviewed and revised the standard operating procedures periodically or as agreed with the partners
- Involved in different transversal areas like being ISMS spoc, QMS spoc for the team
- Handled the monthly close processes, which included recording and reviewing journal entries; preparing and reviewing account reconciliations
Accountant
Vitta Tech Consultancy Services Pvt. Ltd.
01.2014 - 05.2016
- Finalization of various financial and accounting reports for clients reporting the same to responsible and authorised persons of such organization
- Develop and manage budgets, as well as forecast future financial performance
- Analyze financial data to identify trends, variances, and opportunities for improvement
- Generate custom reports as needed for specific business questions or issues
- Preparation of MIS Reports for clients and reporting as well as discussing deficiencies in systems and actual figures as comparing to budgeted reports with responsible authorities
- Conducting Audits, for clients including Internal Audits and assisting Statutory Audits
- Conducting Analysis and reporting deficiencies of Internal Controls and drafting solutions and system for better internal for clients
- Preparation of specialised reports as required by clients in domain of accounts and finance, reports relating to functions such as Accounts Payables (AP), Accounts Receivables (AR), Reconciliation Statements, and Cash Flow Statements etc
- Preparation for Bank Reconciliation Reports
- Preparation and evaluation of Budgets and Project Reports for clients
- Analysed the financial results of companies and develop good understanding of business model
Education
CA(Inter) -
ICAI
B.Com. - Banking and Finance
Pune University
Pune, Maharashtra12.2006
HSC -
Maharashtra Board
12.2003
SSC -
Maharashtra Board
12.2001
Skills
- SAP Proficiency
- Anaplan Certified Model Builder
- FP&A Proficiency
- Record-to-Report Proficiency
- Intercompany
- Bank Reconciliation Expertise
- Financial Analysis Modeling
Languages
English
Hindi
Marathi
Personal Information
- Date of Birth: 07/23/85
- Marital Status: Married
Location Preference
- Pune, Maharashtra
- Mumbai, Maharashtra
Certification
Anaplan Level 3
Timeline
Asst. Manager
AXA Business Services Pvt Ltd
12.2022 - Current
Intercompany Analyst ERP - SAP
BP India Solutions Pvt Ltd
12.2020 - 12.2022
Associate Finance Consultant - (R2R) ERP - SAP
AXA Business Services Pvt Ltd
06.2016 - 12.2020
Accountant
Vitta Tech Consultancy Services Pvt. Ltd.
01.2014 - 05.2016
B.Com. - Banking and Finance
Pune University
HSC -
Maharashtra Board
SSC -
Maharashtra Board
CA(Inter) -
ICAI
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