Vishal K. Shanbhag
Senior Manager
Bengaluru
Summary
A result oriented team player with proven abilities in motivating and leading fellow colleagues Proficient in preparing the audit report architecture Proficient in Business Development presentations and meetings Experienced in integrating existing internal controls to comply with 2013 COSO Framework Experienced in performing internal audits as a consultant and as part of the industry across varied business domains Experienced in managing the annual SOX program including reporting to senior management and external auditors Experienced in establishing an independent ORM Audit department which was erstwhile a part of the Internal Audit department Team Management Business continuity Planning (BCP) Control Attestation, HRBS Testing and monitoring User Provisioning & Compliance Audit Policy Awareness and Regulatory Compliance. OPEX Implementation
Overview
17
17
years of professional experience
1
1
Certification
4
4
Languages
Work History
Senior Manager
VOIS Vodafone
12.2022 - Current
- Leading the design and implementation of a comprehensive Risk and Control Matrix framework for 9 Solution Dimensions of a newly established entity. Conducting detailed Market Maturity Risk Assessment of 9 Key functions by individually scoring them for _VOIS (Vodafone Intelligent Solutions) using 5 core elements: People, Process, Governance, KPIs, and Tools. Delivering expert guidance and support to internal teams on all new projects that influence the control environment, ensuring robust documentation and compliance. Performing extensive walkthroughs and rigorous testing of critical policies such as Anti-bribery, fraud, data privacy, and competition compliance across approximately 28 geographic regions, covering around 250 specific controls. Generating insightful reports for senior management and the CEO on individual function performance, highlighting key risk insights, recommending improvements, and ensuring timely closure of all critical risks to strengthen overall governance and risk mitigation.
Senior Audit consultant Business COSO
Wells Fargo
12.2020 - 12.2022
- My role entailed overseeing compliance with Wells Fargo & Company?s COSO based policies for internal controls over financial reporting (SEC and Regulatory Reporting) and strategic planning for on-going compliance with the COSO policies. Responsible for execution on client engagement
- Ensure quality delivery as per client requirements and Ensure compliance with engagement plans and internal quality & risk management procedures Monitoring new and emerging internal control related guidance and issues and assist with facilitating group-wide training to interested and impacted stakeholders; Managed the SOX Program from scoping, TOD and TOE, reporting to CAE and external auditors ; Performing and Supervising COSO testing of key controls, including design effectiveness assessments and operating effectiveness testing; Conducted audits of operational processes and controls for various units of Banking segments like Corporate tax and Accounting operations; Confirming and documentation of control deficiencies, including issue description, root cause, unmitigated impact, and corrective actions; Analysis of the severity of control deficiencies and evaluating the impact of control deficiencies to existing processes and controls; Stakeholder management - Building relationships and collaborating with key stakeholders in the SEC and Regulatory Reporting and Interfacing with external auditors.
Manager Internal Audit and SOX compliance
DIAGEO
07.2018 - 12.2020
- Responsible for transitioning and management of SOX processes and reporting for AIG Life and Retirement region (Houston, Nashville and Amarillo) , Investments and Financial Services
- And AIG Global -Corporate Governance - USA to India Finance Centre Responsible for preparing monthly, quarterly and annual reports and dashboards for executive management Liaise with external auditors to accomplish timely resolution of actionable items from internal and external review Ensured seamless transition of all controls from a legacy system to Admin System (SAP) Led a comprehensive mile stone based project which involved a detailed assessment of applicability, redundancy and rephrasing of controls and restructuring the annual SOX program Independently led the SOX/MAR compliance program for Life and Retirement from planning through scoping, testing, Issue Memo /Exception reporting and reporting to Audit Committee Engage with in-house Data Analytics team to enhance and optimize the sample selection process for SOX Compliance Manage a team of junior managers and SME?s to achieve high quality work in stipulated time Conducted annual performance and feedback reviews for my direct reports Led internal trainings on SOX 404 compliance requirements including Auditing Standard 5 and PCAOB financial statement assertions Identify Risk setup control design as part of the RCM project for the entire AIG Finance centre processes. Handled part of ITGC Testing, End User Tool, Key reports Testing, BCP Testing and Model Testing and Reporting
Assistant Manager, Internal Audit and SOX Compliance
American International Group
01.2015 - 07.2018
- Responsible for transitioning and management of SOX processes and reporting for AIG Life and Retirement region (Houston, Nashville and Amarillo) , Investments and Financial Services
- And AIG Global -Corporate Governance - USA to India Finance Centre Responsible for preparing monthly, quarterly and annual reports and dashboards for executive management Liaise with external auditors to accomplish timely resolution of actionable items from internal and external review Ensured seamless transition of all controls from a legacy system to Admin System (SAP) Led a comprehensive mile stone based project which involved a detailed assessment of applicability, redundancy and rephrasing of controls and restructuring the annual SOX program Independently led the SOX/MAR compliance program for Life and Retirement from planning through scoping, testing, Issue Memo /Exception reporting and reporting to Audit Committee Engage with in-house Data Analytics team to enhance and optimize the sample selection process for SOX Compliance Manage a team of junior managers and SME?s to achieve high quality work in stipulated time Conducted annual performance and feedback reviews for my direct reports Led internal trainings on SOX 404 compliance requirements including Auditing Standard 5 and PCAOB financial statement assertions Identify Risk setup control design as part of the RCM project for the entire AIG Finance centre processes. Handled part of ITGC Testing, End User Tool, Key reports Testing, BCP Testing and Model Testing and Reporting
Assistant Manager, Internal Audit and SOX
Accenture Services Private Limited
12.2010 - 01.2015
- Managed a Team of the SOX Program from scoping, TOD and TOE, reporting to CAE and external auditors Conducted Internal Audits of operational processes and controls for various units of Banking segments Monitored the progress of resolution of audit findings and monthly reporting on progress to the senior management. Was instrumental in establishing an independent Control Framework including implementation and continuous monitoring of control attestations, early warning system to investigate failures Implemented action plans to minimize risk of control failures Preparation of the policies and procedures manual, Statement of Work (SOW), Risk Control Matrix (RCM) for Operational Risk Audits. Conducted regular training to operations on SOX, ORM and Internal audit methodologies Implementing Control framework for identification of significant threats, risks, vulnerabilities and related risk management procedures pertinent to the nature, size, and complexity of existing business and planned growth for specific clients.
Team Lead, Internal SOX Compliance Tester
International Business Machines
03.2009 - 12.2010
- Compliance testing for Internal Audit and SOX compliance. Successfully transitioned the process (IC&T) from IBM Australia to IBM India Roles and Responsibilities included Designing of Internal Control systems with Primary and Secondary controls for Key controls over operation and Key controls over Financial Reporting for IBM Australia Data Security and Privacy controls Implementation Successful implementation of Internal control system Defect Analysis and Root Cause analysis Testing Compliance on KCFR which tests for Firm order, pricing case of the Project, Correct registration of the contract Data, Correct Billing and Invoicing calculations/ Credit Notes issued, and Billing Adjustments.
Education
MBA/PGDM - undefined
Visvesvaraya Technological University
Bengaluru01-2005
B.Com - Bachelor of Commerce - undefined
Gogte College of Commerce
Belgaum01-2003
Skills
Senior SOx Specialist
Audit Manager
Internal Audit
SOX Compliance
SOX Program Management
Operational Risk Management
Business Control
Business Continuity Planning
Financial Planning
Accounting
Audit Reporting
PeopleSoft
OPEX
COSO
Certification
ISC1 (Valid upto March 2029)
Timeline
Senior Manager
VOIS Vodafone
12.2022 - Current
Senior Audit consultant Business COSO
Wells Fargo
12.2020 - 12.2022
Manager Internal Audit and SOX compliance
DIAGEO
07.2018 - 12.2020
Assistant Manager, Internal Audit and SOX Compliance
American International Group
01.2015 - 07.2018
Assistant Manager, Internal Audit and SOX
Accenture Services Private Limited
12.2010 - 01.2015
Team Lead, Internal SOX Compliance Tester
International Business Machines
03.2009 - 12.2010
MBA/PGDM - undefined
Visvesvaraya Technological University
B.Com - Bachelor of Commerce - undefined
Gogte College of Commerce