Siddarth Surinder Gandotra
Mumbai
Summary
Dynamic finance executive with extensive experience at Kotak Mahindra Bank, specializing in IFRS/Ind-AS implementation and regulatory analysis. Proven track record in enhancing operational efficiency and delivering strategic insights. Adept at leading cross-functional teams and driving process improvements, ensuring compliance and excellence in financial reporting.
Meticulous financial executive with insight, knowledge, and acumen required to successfully drive corporate profitability. Highly talented in driving financial operations from startup to $several operations. Valuable and respected professional offering skills in recruiting and hiring gifted employees bringing financial experience and exemplary communication skills to leadership team.
Overview
19
19
years of professional experience
Work History
Senior Vice President
Kotak Mahindra Bank Limited
09.2022 - 04.2024
- Served as Executive Assistant to the Whole-time Director overseeing Wholesale banking, Private Banking, Investment Banking, Institutional Equities, Credit, and Asset reconstruction department from September 2022 to April 24
- Business Development Support - Identified and facilitated new business opportunities in areas such as Corporate Salary Accounts and Private Banking cross-sell initiatives.
- Efficiency Enhancement Initiatives - Actively contributed to a Corporate Banking–level efficiency project aimed at: Reducing turnaround times (TATs), Enhancing role clarity and accountability, Improving first-time-right (FTR) metrics, Identifying automation opportunities, Promoting customer self-service (DIY)
- Process Improvement Leadership - Led a strategic process improvement initiative titled 'Best in Class Corporate Bank,' spanning multiple functions across the bank to enhance overall service delivery and performance.
- Data Analysis & Insights - Translated complex data into actionable insights to support decision-making. Analyzed MIS reports of various teams reporting to the Whole-Time Director. Tracked and reported on the credit pipeline. Conducted quarterly analysis of peer bank performance and market positioning
- Automation and Digital Initiatives - Collaborated on the development of an SME platform, including scope definition and vendor selection alongside the Platform Head. Supported the creation of a Digital Current Account (DIY journey) to enhance customer onboarding and self-service capabilities.
Group MIS and Consolidation
Kotak Mahindra Bank Limited
03.2012 - 08.2022
- Team leader for conversion of Indian GAAP financials for entire Kotak group (19 Subsidiaries and 3 Associates) to Ind-AS which included the activities like identification of GAAP differences, evaluation of accounting policy choices, preparation of group accounting policy framework, evaluation of group investments from accounting perspective, etc. The work was performed with the help of an external consultant for the group
- Lead one of the most important financial transformation project for Kotak group i.e. implementation of Ind AS software for entire group
- Involved in General ledger upgrade for both Bank and Group including designing of single Chart of Accounts
- Involved in structuring and effective capital utilization project
- Handling Accounting queries across Kotak group under existing Indian GAAP & IFRS/ Ind AS
- Involved in implementation issues of Companies Act, 2013
- Key member for two QIPs of Kotak Bank (including one during May 2020 – first by any institution in Covid)
- Responsible for Consolidated MIS for the group
- Responsible for preparation and monitoring of consolidated bank budget
- Analysis and interpretation of industry information and benchmarking group with respect to peers
- Regulatory updates and analysis of impact thereof on the group
- Responsible for few regulatory reporting for the consolidated bank
- Handled Reserve Bank of India (‘RBI’) Audit for FY 2015
Manager
KPMG, Accounting Advisory Services
02.2010 - 03.2012
- Assisted an international bank in setting up its India branch by advising on local accounting and regulatory reporting requirements and developing a regulatory returns calendar
- Project in-charge for the IFRS conversion project for reputed listed entities in India, namely Welspun Corp Limited, Jet Airways, Binani group, Hindustan Construction Company (HCC) group and JSW Energy Limited
- Responsible for issuance of Accounting opinions under Indian GAAP/ IFRS on various matters like Consolidation, Revenue recognition etc
Assistant Manager
BSR & Co. (KPMG, India), Audit – Financial Service
02.2005 - 01.2010
- Received recognition for Exceptional Performance for two consecutive years. (95th percentile of the Assurance and Attestation practice)
- Key clients include ICICI Bank and Deutsche Bank
- ICICI Bank - Key Areas audited for ICICI group – Treasury and Corporate Banking portfolio of the Bank. Was responsible for preparation of critical reports under Indian and US GAAP (including SOX audit). Handled the amalgamation of Sangli Bank with ICICI Bank as Project-in-charge. Responsible for the preparation of Long Form Audit Report (LFAR) to be submitted to RBI
- Deutsche Bank - Key Areas audited for Deutsche Bank – Corporate Banking portfolio of the Bank and regulatory compliance.
Assistant Manager
KPMG LLP, UK, Audit and Risk Management – Financial Service
10.2006 - 03.2007
- Led a team of 4 team members on Standard Bank wherein key areas handled included Global markets and Principal Trading, Resource Banking, Credit, Transfer pricing.
- Key responsibilities included understanding the products and risk factors associated with each product, mentoring and supervising team members from different countries, preparation of critical reports and communicating with top management for resolution of issues.
Chief Financial Officer
Kotak Mahindra Investments Limited
- Company Overview: CFO (Key managerial position) of a NBFC with Mr. Uday Kotak as Chairman and Ms. Padmini Khare Kaicker as Audit committee chair
- Prepared quarterly financial statements in compliance with Ind AS for a high-value debt listed entity, along with Indian reporting for consolidation with the listed parent bank; successfully led the entity to become the only one in the group to finalise both Ind AS and Indian GAAP annual accounts on the same day
- Ensure timely monthly, quarterly and annual compliance with statutory requirements under RBI regulations, the Companies Act, and Listing regulations
- Successfully handled the RBI audit for the financial year 2023-24
- Undertook additional responsibilities in the Operations and Credit Administration Department, contributing to process improvement, compliance, and efficient service delivery
- CFO (Key managerial position) of a NBFC with Mr. Uday Kotak as Chairman and Ms. Padmini Khare Kaicker as Audit committee chair
Education
Diploma on Management and Business Finance -
Institute of Chartered Accountants of India
03.2023
Chartered Accountancy -
Institute of Chartered Accountants of India
11.2004
Bachelor of Commerce -
Mumbai University (Narsee Monjee College)
05.2003
Skills
- IFRS/ Ind-AS
- Group level implementation of Ind AS including new Accounting software
- Regulatory and Accounting analysis – Specific issues
- Preparation of management reports related to performance and peer comparison
Languages
- English
- Hindi
- Gujarati
- Marathi
Hobbies and Interests
- Reading
- Traveling
Extracurricular Activities And Achievements
- Distinction holder in the C.A. Foundation examination
- Actively involved in various social initiatives of Kotak group.
- Recipient of Scholarship under National Scholarship Scheme for performance in Higher secondary examinations.
- Member of Narsee Monjee (N.M) Inter-Collegiate football team.
- Ex-committee member of Umang, the N.M. College festival.
Personal Information
- IFRS/ Ind-AS
- Group level implementation of Ind AS including new Accounting software
- Regulatory and Accounting analysis – Specific issues
- Preparation of management reports related to performance and peer comparison
- Date of Birth: 05/29/82
Timeline
Senior Vice President
Kotak Mahindra Bank Limited
09.2022 - 04.2024
Group MIS and Consolidation
Kotak Mahindra Bank Limited
03.2012 - 08.2022
Manager
KPMG, Accounting Advisory Services
02.2010 - 03.2012
Assistant Manager
KPMG LLP, UK, Audit and Risk Management – Financial Service
10.2006 - 03.2007
Assistant Manager
BSR & Co. (KPMG, India), Audit – Financial Service
02.2005 - 01.2010
Chief Financial Officer
Kotak Mahindra Investments Limited
Diploma on Management and Business Finance -
Institute of Chartered Accountants of India
Chartered Accountancy -
Institute of Chartered Accountants of India
Bachelor of Commerce -
Mumbai University (Narsee Monjee College)