Professional and industry experience:

Ankit Bhatnagar is a Consultant in the Governance & Risk line of business at KPMG Singapore. He has over 12 years of work experience in various Banking and Insurance companies in diverse Finance and Accounting roles, including Corporate Controllership and External & Management Reporting.

Relevant experience:

Accounting standards adoption and Finance transformation, notably on IFRS 17 Insurance Contracts

• Accounting and financial reporting workstream member as part of a cross-function team (actuarial, accounting, IT, etc.) to support clients’ journey in adopting the new accounting standard for insurance contracts
• Performed process, data and systems gap assessments and impact analysis, including associated revenue recognition accounting implications
• Developed new controls and remediated controls under the new reporting framework and process, dealing with the Finance Shared Service Centre in India on the handovers etc
• Contributed to post-IFRS 17 implementation project plan formulation (activities, work steps, timelines, etc.)

Prior to joining KPMG, Ankit’s financial reporting and corporate controllership experience in both the America and South-East Asia regions includes:

• Lead for regulatory reporting relating to EDTF Compliances, AUM Reports and VAT Returns
• Reviewed financial supplementary schedules and consolidated financial statements at the chart of accounts level and the segment level for the North American region for SEC Reporting (10K and 10Q)
• Analysed portfolio metrics and pre-tax operating income line items to provide commentaries where periodic variances exceeded the defined threshold
• Liaised with external auditors for review and audit of financial statements, including sourcing supporting information from various repositories
• Standardized and implemented key reconciliation metrics, facilitated sub-ledger feeds to enable auto-certification to shorten calendar close cycle and increase resource capacity within the team
• Contributing and driving change projects, including:
  • Designed and implemented benchmarks to establish a process for tracking and reporting premiums in respect of a FAS 5 (ASC-450) Reserve reduction project
  • Created a framework for various Producing and Issuing Offices to track ageing schedules for receivables consistently
  • Working with stakeholders to agree on key principles of the future operating model considered and draft blueprints for such future state scenarios
• He possesses good knowledge of various financial systems and automation tools like SAP, Hyperion, Alteryx, Sun Systems, and Microsoft Office Suite.
• Ankit is experienced in managing the project management office (PMO) role for various finance and accounting processes.