Avinash Varma

Involved in review of Internal Control Framework encompassing business division level performance targets, benchmarks for performance evaluation, risk budgets, compliance monitoring and exception reporting.Review of business division level policies and procedures to ensure the embedment of risk appetite.Involved in the Corporation's economic capital optimization process; embedding the risk appetite and providing granularity through strategic asset allocation limits and performance targets (RAROC) at division/portfolio levels.Process owner for Corporation level regulatory capital adequacy (BASEL) computation, monitoring & reporting.Working with treasury division on cash flow management and enhancement of internal funding mechanism.Perform regular counterparty credit reviews and approve limits at product level and at counterparty/group level.Perform financial analysis of the Corporation’s portfolio of direct equity investment (strategic investments) across the GCC and generate Internal Credit Ratings for the portfolio.Performing regular benchmarking of risk management practices to global standards, global best practices, practices of global & regional peers. Accomplishments: Enhanced the ERM framework through incorporation of impact analysis studies and scenario analysis (periodic).Improved the ERM reporting process by introducing stress/impact reporting across key performance indicators.

Worked as ‘Senior Auditor’ in the Assurance & Advisory Business Services wing of Ernst & Young, Kuwait working on assurance assignments of Banks, FSI major and FMCG leader in the region.
National Bank of Kuwait - Guided the client in the roll out of IFRS 7 compliant financial statement for 2007 with focus on risk management disclosures.
Gulf Investment Corporation - Managed a team of qualified accounting professionals in performing audit engagement of the largest investment company in the region as per relevant regulations (CBK, BASEL II etc), IASB & IFAC pronouncements (IFRS, IFRIC, IAS etc), scope of engagement and EY global audit methodology.
Alghanim Industries - Performed IFRS conversion of subsidiaries reporting under US GAAP and Indian Accounting Standards for the purpose of preparing consolidated financial statements.

Worked as ‘Audit Senior’ in the Assurance & Business Advisory Services wing of PWC, Bangalore, working on assurance assignments of FMCG majors (Hindustan Unilever Limited-Indian subsidiary of Unilever, UK, Flowserve Corporation-Indian subsidiary of Flowserve Corp. USA, 3M India Limited-Indian subsidiary of 3M Corp, USA and United Breweries). Prepared Business Analysis Framework for scoping of the engagement and understanding of the client's business, evaluating the controls and validating the same. Populated the Audit comfort Matrix based on significant risk identified and mitigating controls. The weaknesses in internal controls observed by our audit team were reflected in the "Letter of Weaknesses" and communicated to the management. Worked with business owners to remediate the control weakness identified and helping clients meet with increased regulatory demands.

Worked as ‘Executive - Accounts’ with Muthoot Fincorp Limited, a non-deposit taking non-banking finance company (NBFC) with a wide network of over 2200 branches. Positioned at the regional office (RO), primary responsibilities included fund management across the branches falling under the RO based on volume of business, day to day accounting at the RO level (including inter-branch reconciliations and head office reconciliation). Reported directly to
Resident Director & GM (Operations)

Completed 3 years of mandatory articleship training for chartered accountancy course; getting training on external and internal audit, management consultancy and taxation assignments. Joined back as ‘Audit Executive’ and worked on clients ranging from Public sector undertaking, Indian subsidiary of Multinational company, Private sector companies, partnership firms and proprietary concerns.

Completed 3 years of mandatory articleship training for chartered accountancy course; getting training on external and internal audit, management consultancy and taxation assignments.