Background

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

Professional and Industry Experience

Ankit's IFRS 17 Insurance Advisory experience includes:

IFRS – 17 GAP and Implementation Analysis
- Performed impact analysis of IFRS 17 on the current process, including data and system gaps.
- Mange internal and external relationships on the project. Being the focal point for all Finance related project queries.
- Worked together with teams (Actuarial, Accounting & IT) to design and document the work date timelines post IFRS 17.
- Supported the assessment of major risks and issues that may potentially occur during the IFRS 17 implementation (IFRS 4
- and IFRS 15 impact Analysis
- Ensure all project artefacts maintained throughout the project life cycle (plans, resourcing, cost plans, scheduling, RAID items, functional and technical specifications, CRs, Status Reports) are up-to-date and accurate.

Ankit's Project Management experience includes:

Network Partners – FAS 5 (ASC-450) Reserve reduction Project
- Oversee all aspects of the project to ensure on time go-live dates; including documenting management requirements, developing project timelines, identifying and mitigating risk, tracking project milestones and providing regular feedback to stakeholders and executive management.
- Designed and implemented benchmarks with stakeholders including underwriters and established a process for tracking and reporting of premiums between Producing and Issuing offices.
- Analyzed performance of various producing and issuing offices using Loss ratio and engaging with underwriters for reasons of poor loss ratios of some portfolios.
- Created a framework for all the Producing and Issuing Offices to track the received premiums against the aged receivables.
- Identified gaps in the current claims, revenue recognition and reporting systems and implemented the rectification processes.
- Organized all relevant resources to ensure the project is managed in time.
- Coordinate resourcing needs with internal and external consultants to ensure all projects have adequate resources in the pipeline.
Implement Balance Sheet Reconciliation Process for South East Asian Entities
- Implemented standardized close calendar across geographies by systematizing key reconciliation matrices. (CAPRECON Levels).
- Identify synergies with other projects to accelerate implementation and reduce costs.
- Designed and Implemented sub-ledger feed in Blackline to enable auto-certification, creating 10% capacity.
- Drafted new policies, guidelines and procedures in the respect of the Balance sheet reconciliation project.
- Aligned and agreed on the detailed future state asset planning process with senior stakeholders.
- Conducted multiple training sessions on best practice sharing on reconciliations with the teams to improve the finance Operations process improvements.

Ankit’s Corporate Controllership experience includes:

SEC Reporting
Independently conducting Assessment of the reasonableness of consolidated financial statements at chart of accounts level and the segment level for the North American region for SEC Reporting (10K and 10Q).
Preparation and review of quality checks for Financial Supplements and analysed PTOI line items where periodic variances were above the defined threshold.
Preparation of schedules to support financial reporting.
Liaising with external auditors for review and audit of financial statements.
Responsible for Regulatory reporting for EDTF Compliances, AUM Reports.
Preparation and presentation variance analysis of information extracted from various financial repositories.