SHAUNAK SHRINGARPURE

• Currently working as a Manager Accounting & Ledger Control in Mumbai (flat hierarchy organization where the manager reports to CEO and functionally to the foreign office controllers) and leading a team of 21 people.
• Profile mainly related to finalizing the books, ensuring all transactions are understood and reported correctly to wider stakeholders such as group reporting, foreign office controllers and banks.
• Largest balances on the books relate to stocks and derivatives (hedges) for which expert knowledge of hedging products flow and accounting under IFRS is mandatory. Me and my team actively review and report these including entity P&L.
• My profile also includes reviewing the legal entity balances for overheads.
• We also act as the focal point for audit and any tax reporting done out of books.
• Understanding of variances and ensuring balancing look good on gross level reviews is critical since transactions are driven by larger volumes of profit making trades.
• I am also the subject matter lead on business side for accounting related system changes, improvements suggestions and doing testing of developments.
• As a team manager of a large team I try to maximize team performance by monitoring their activities and mentoring and motivating the team (including compensation management)

Key achievements in role

• Cut back on month end closing timelines to within 5 days of the other upstream inputs.
• Quality of closing improved along with efficiency by doing multiple process improvements (including some automations as developed by IT)
• Key role in improved the homegrown system introduced in 2017 versus today where issues have gone down.
• People management - No resignations in team in 3 years except 1 short time hire. Maintained a great feedback from peers, juniors and seniors alike.
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• Company Overview: One of the largest Hedge Fund administrators
• Review of Financial Statements in order to ensure quality deliveries to clients. Handling more than 60 US/UK/Irish Hedge Fund financial statements through the year prepared mainly under IFRS or US GAAP.
• Reviewing the financial statements includes review of net asset value packs, allocation schedules of investors, investment schedules prior to client delivery.
• Coordinating audit process and assisting in resolving audit issues.
• Functional reporting of Fund accounting team- Getting a quality output from fund accounting team in the processes by training them and ensuring timely completion of the deliverables.
• Contributing towards improvements initiatives such as working as a business review development initiator and tester on GoFS – an inhouse financial reporting system.
• Participated in annual training activities to Fund accountants on IFRS,US GAAP and FS preparation process.
• One of the largest Hedge Fund administrators

• Company Overview: Largest Company in engineering & construction in India
• Monthly Accounts Closing and reporting of monthly accounts in the consolidation software. Accounts closing activities involved the major activities, however not limited to,payroll finalization , project cost and overheads expenses, revenue recognition, fixed assets, reconciliation of banks and inter-company accounts.
• Preparing forecast cash flows and assessing fund requirements.
• Liaising with bankers for fund raising – activities primarily include sending fund requirements through forecast cash flows , financial feasibility study for forecasting horizon of 3-5 years , presentation to bankers , assessing funded/non funded fund requirements and negotiating on the deal. Monitoring limits and performing evaluation of banking products for management and L&T corporate treasury review.
• Quarterly reporting to Executive Vice President of Gulf Operations and Indian HO consisting of Profitability Analysis, Cash Flows, Quarterly Financials, Receivables and Payables Analysis.
• Single point contact for auditors on quarterly limited reviews and annual audits.
• Annual Indian GAAP Accounts and Audit finalization with parent entity (India) auditors.
• Preparation of Annual Budgets for the coming year encompassing project budgets, office overhead budgets and allocation of office costs, cash flow budgets , budgeted financials preparation and capital assets budgets all of which are presented and approved by L&T India Board.
• Weekly Treasury Reports for planning of funds.
• Experience in Payables and vendor management : Managing timely payables and drawing weekly outstanding payables reports, dealing with vendors. Scrutinizing Vendor agreements, Letter of Credit terms for hedging Company risks, if any.
• Largest Company in engineering & construction in India

• Company Overview: One of the Big 4
• First Assignment of working on IFRS convergence of one of the largest Indian public sector banks. Engagement involved GAAP differences analysis, rolling out presentations on IFRS impact to the bank senior finance team and assisting in the convergence. Trainer level experience on specific IFRS standards applicable to banking.
• Field Senior on Audits of large public and private sector organizations and MNCs. Responsible for end to end audit finalization including financials closure, partner reviews and final audit signing. Worked on listed Company engagements also involving SEBI compliances. Experience in certifications and handling tax audits.
• Review of client procedures and ensuring compliances on statutory compliances viz. TDS and other tax compliances as per Income Tax Act, Service Tax & VAT. Involved in Transfer Pricing audit of an investment management Company.
• One of the Big 4