Sr, Finance / Budget Analyst
Sports Corner
Total years of experience :1 years, 1 Months
1. Responsible for creating budgets that will allocate all the company’s monetary resources in the wisest way possible by the conduction of in-depth analyses of various financial systems, spotting significant discrepancies between actual and proposed expenses as well as resolving inaccurate financial database entries
2. Provide creative alternatives and recommendations to reduce costs and improve financial performance
3. Assemble and summarize data to structure sophisticated reports on financial status and risks
4. Develop financial models, conduct benchmarking and process analysis
5. Conduct business studies on past, future and comparative performance and develop forecast models (Variance analysis)
6. Identify trends, advise company and recommend actions based on sound analysis
7. Track and determine financial status by analyzing actual results in comparison with forecasts
8. Reconcile transactions by comparing and correcting data
9. Consult with management to guide and influence long term and strategic decision making within the broadest scope
10. Drive process improvement and policy development initiatives that impact the function
11. Use a wide range of tools and systems to effectively devise a feasible budget for all the company’s operations and its extra services
12. Perform all duties and obligations relating to the matter of budgets and financial forecasts, as well as the presentation of findings, reconciliation of errors and discrepancies, and restructuring of financial business models
13. Cash flow forecasting.
14. Negotiate, analyze and manage the fees and margins of service providers.
15. Ensure quality standards of service providers
16. Work with the business to optimize commercial cash flows
17. Timely disbursement of payments
18. Ensure adequate liquidity to support the business
1. Cost and Inventory Accounting
1. Material Rates Reviews
2. COGS Analysis
3. Inventory Account Reconciliation
4. Fixed / Variable Cost Analysis
5. SAP vs reporting system Reconciliation
6. Product Costing
In Detail
1. Prepare and post manual journals and accruals in accordance with SOX compliance.
2. MIS Reporting & Metrics: Preparation of Metrics in regard to realized and Unrealized Transfer pricing, Inventory, COGS, Variance Analysis, Trend Analysis for Higher level Management (Global Finance Controller)
3. Month End Closing Activities: Ensuring that all materials are properly reinstated to actual prices from standard prices and to identify and analyze the variances and make corrective adjustments to ensure proper valuation of materials. Intimation will be given to corporate/Business finance for corrective adjustments where amount involved is beyond authorization levels.
4. Reconciliations: Reconciliation of MM with FI in SAP (Stock records with Financial records) to ensure that value of COGS as well as inventory is accurately reported in FI with same value as that of MM to ensure fair reporting.
Reconciliations of UTP(Unrealized transfer profit), GTP (Gross transfer profit) in receiver and sender books with that of GCAP ( Executive Information System for Corporate and Business Finance)
5. Business Meetings: Involves regular meetings with Global Business contacts through video/Audio conferences, Net meetings for reporting on the status of COGS and Inventory and to discuss any abnormal issues and valuations.
6. Reporting of COGS and Inventory Values and Prices to corporate and Business Finance on monthly basis highlighting Huge Variances in COGS & Inventory values comparing budgeted standards with that of actuals along with the analysis and the corrective actions needed.
7. Reports to intimate COGS to Sales % at the profit center level to identify the cases where company is selling at a price lesser than cost along with analysis.
8. Transfer Price Accounting: Ensuring that intercompany transfers are properly accounted with right splits of fixed, variable and UTP (Unrealized transfer profit) in receiver books same as that of sender books to facilitate correct reporting in CFS (Consolidated Financial Statements).
Experience in other activities
1. Audit SOX and IC, validation of transactions. (On Accounts Receivable site)
2. Audit LA Credit report (Aging Report for all businesses of DuPont).
3. Collect the justification of all aging and report the same to Credit Managers.
4. Audit Bad Debts as per SOX & IC rules and report the same.
5. Audit Write Off: as per SOX & IC rules and report the same.
6. Audit Credit Limit and Scheduled Review of the customers as per SOX & IC and report the same.
7. Audit Payment terms of customers as per SOX & IC and report the same.
8. Audit Order Release as per SOX & IC and report the same.
I have developed details understanding of receivables and payable process along with credit analysis, payment and SOX/IC compliance procedures.
Inter and Intra Company Accounts Receivable and Accounts Payable Accountant for General Electric Health Care Europe GMBH.
1. Complete cycle of Accounts Receivable and Accounts Payable.
2. Month end reconciliation and reporting of AR & AP
3. Resolve the queries of Clients
4. Book and Raise of Invoices
5. Inter-company Reconciliations
6. Preparing Dashboard on monthly basis
7. Cash application and Payment run
8. Handle OTR issues
9. Follow-up with the counterpart for the issue resolution
10. Item wise analysis and verification of SL V/S GL
11. Prepare reports to get the GL balances as of month close
12. Prepare counterpart’s statement from the Support central tool for reconciliation purpose
13. Close open items with an appropriate action plan and suggestion for the rectification entry.
14. Disconnect Analysis.
15. Follow-up with counterparts for resolving issues and for payment
During my tenure with Genpact, I developed very good understanding of entire business process around AR, AP reconciliation, month end closure, reporting and dashboard preparation and invoicing in AR/AP module.
MBA
Bachelors of Commerce