SUMIT SHARMA
Bengaluru
Summary
Chartered Accountant and Company Secretary with 17 years of experience in investment banking, emphasizing regulatory reporting and compliance. Expertise in risk-based audits and financial governance, with a focus on enhancing internal controls and RCSA frameworks. Strong background in managing financial operations in highly regulated sectors.
Overview
16
16
years of professional experience
1
1
Certification
Work History
Goldman Sachs - Vice President
Internal Audit Division
09.2023 - Current
- Executed comprehensive audits influencing regulatory compliance, including FFIEC-031, FRY-14Q suite, FRY-15, FRY-9C, FRY-9LP, FFIEC-009, FR2052a (6G), FR2510, Treasury International Capital (TIC) reports, Bureau of Economic Analysis (BEA) reports, and 10 Q/K financial statements.
- Executed audits across Controllers functions, including Product Control, Financial Control, General Ledger, and Regulatory and Financial Reporting, SEC reporting.
- Led end-to-end audit engagements, define audit planning, prioritize coverage, scoping, walkthrough, control design and operating effectiveness testing, issue identification, and validation.
- Evaluated SOX control design and operating effectiveness in line with the COSO framework, identifying control deficiencies and governance gaps.
- Independently reviewed and challenged RCSAs, ensuring completeness of risk identification, accuracy of risk ratings, and appropriateness of control mapping.
- Performed MRIA / MRA audits ensuring alignment with Federal Government supervisory expectations for the FRY-14 report.
- Drafted and issued detailed audit reports, articulating risk impact, root causes, and management action plans for stakeholder clarity.
- Presented thematic risk insights based on risk assessment to senior management and audit committee.
Silicon Valley Bank - Associate Director
US Regulatory Reporting (Controllers)
04.2022 - 09.2023
- Supervised end-to-end responsibilities for key U.S. regulatory reports, including FFIEC-031, FRY-9C, FRY-9LP, FFIEC-009, and FR Y-14Q, ensuring federal compliance through accurate and timely submissions.
- Presented key federal regulatory reports to senior management, including the CFO, and the audit committee for attestation and sign-off.
- Acted as the primary contact for external auditors and regulators during FED examinations.
- Enhanced SOX and internal control frameworks by addressing audit findings with comprehensive remediation plans, strengthening compliance posture.
- Led implementation of regulatory instruction changes, including UAT assessments and sign-off.
- Streamlined data provider consolidation for regulatory reports, improving data accuracy and efficiency in reporting processes.
State Street - Assistant Vice President (AVP)
US Regulatory Reporting (Controllers)
08.2017 - 04.2022
- Supervised and led preparation of major U.S. Federal regulatory reports, ensuring compliance and accuracy for FFIEC-031, FRY-14Q suite, FRY-15, FRY-9C, FRY-9LP, FFIEC-009, FR2052a (6G), FR2510, FR-2314, FRY-11, FR-2644, QFC, Treasury International Capital (TIC), Bureau of Economic Analysis (BEA), and 10 Q/K financial statements.
- Led TIC reports automation projects to the Axiom platform, and liased with representing the bank initiatives with the Federal Reserve to enhance reporting processes.
- Automated FFIEC-031, FRY-9C, and FFIEC 009 reports in the Axiom Reporting platform, using control reports and UAT sign-offs.
- Managed compliance with CCAR attestation for FRY-14 for the U.S. regulatory.
- Analyzed federal regulatory changes to assess the impact on reporting requirements and practices.
- Coordinated migration of EMEA and APAC tasks to India, improving efficiency in handling the U.S. regulatory reports.
JP Morgan Chase - Associate
Legal Entity Controllers (LEC)
09.2015 - 08.2017
- Prepared financial statements in accordance with UK GAAP and conducted investment impairment analysis.
- Supervised monthly general ledger closure and management information system (MIS) reporting.
- Managed capital hedging form submissions for foreign exchange trade-outs, ensuring compliance with regulatory requirements during monthly processes.
- Executed certification of GLRS balances as part of quarterly closing activities.
- Directed financial close and reporting for multiple legal entities and banking subsidiaries, enhancing accuracy and timeliness of financial data.
- Strengthened SOX compliance and internal control frameworks, implementing remediation plans to address audit findings and improve overall governance.
- Facilitated communication between external auditors and regulators during examinations.
PNB MetLife - Manager
Financial Reporting
01.2013 - 09.2015
- Prepared and reviewed monthly, quarterly, and annual financial statements in compliance with Ind AS, IRDAI regulations, and Companies Act.
- Supervised preparation of US GAAP financials at segmental level, ensuring accuracy and compliance.
- Coordinated with Actuarial teams for accurate valuation of policy liabilities and reserves, supporting financial integrity.
- Submitted Hyperion reports to MetLife Head Office for timely consolidation and reporting.
- Ensured compliance with all financial IRDA regulations and statutory reporting requirements, including Cash Premium and Statistical Reports.
Vishwarupa Steel Group - Manager
Financial Reporting
05.2010 - 01.2013
- Prepared and finalized monthly, quarterly, and annual financial statements in compliance with Ind AS and Companies Act.
- Prepared cash flow statements and conducted working capital analysis to support budgeting and forecasting processes.
- Performed MIS reporting, including standard costing and variance analysis, to inform financial decision-making.
- Coordinated with statutory and internal auditors to ensure timely audit closures and compliance with regulatory requirements.
- Ensured compliance with TDS, income tax, and corporate law (MCA) reporting requirements.
Education
B.Com (Hons) -
Calcutta University
01-2006
KK Dharuka & Co
(Articleship)01-2010
Indian School Certificate (ISC)
01-2003
Skills
- Regulatory Reporting
- Financial reporting
- US GAAP reporting
- Process migration
- SOX compliance
- Audit execution
- Internal controls
- Risk assessment
- Project leadership
- Strategic planning
Certification
• ICSI: Company Secretary (2007)
• ICAI: Chartered Accountant (2012)
• ICAI: Chartered Accountant (2012)
Timeline
Goldman Sachs - Vice President
Internal Audit Division
09.2023 - Current
Silicon Valley Bank - Associate Director
US Regulatory Reporting (Controllers)
04.2022 - 09.2023
State Street - Assistant Vice President (AVP)
US Regulatory Reporting (Controllers)
08.2017 - 04.2022
JP Morgan Chase - Associate
Legal Entity Controllers (LEC)
09.2015 - 08.2017
PNB MetLife - Manager
Financial Reporting
01.2013 - 09.2015
Vishwarupa Steel Group - Manager
Financial Reporting
05.2010 - 01.2013
B.Com (Hons) -
Calcutta University
KK Dharuka & Co
Indian School Certificate (ISC)