M.S. RAKESH
Bangalore
Summary
Highly motivated finance and accounting professional with over 20 years of experience specializing in global R2R, P2P processes, financial reporting, and process optimization. Proven ability to lead, manage and motivate teams, while implementing process improvements to enhance efficiency and accuracy in fast-paced environments.
Overview
28
28
years of professional experience
1
1
Certification
Work History
Senior Manager Finance
Finastra Software Solutions India Pvt Ltd
02.2019 - Current
- Responsible for managing the Global Record-to-Report General Accounting function from the Shared Services Center. Played a key role in leading finance transformation projects, overseeing General Ledger, Fixed asset accounting, and partnering with Global FP&A to drive process improvements. Effectively collaborated with Group and Statutory Auditors and implemented internal controls to mitigate financial risks.
- Managed the Global Record-to-Report (R2R) process for over 40 countries and 90+ entities, demonstrating expertise in handling large-scale financial operations.
- Successfully transitioned the Canadian business from Toronto to Bangalore Shared Services Center, encompassing all aspects of accounting - AP, AR, Billing, Cash Application, and GL - stabilizing operations in under two months.
- Transitioned a major US entity to Bangalore Shared Services, managing General Ledger, Intercompany Accounting, Fixed Asset Accounting, and Reconciliations.
- Managed the Global Intercompany process, ensuring compliance with Transfer Pricing agreements, and reviewed all Intercompany recharges, including Time, Management, and Development Cost.
- Managed the Fixed Asset process for Tangible and Intangible Assets, ensuring compliance with company policy on capitalization of R&D costs and Intercompany recharges for Development Costs.
- Identified and implemented automation and robotics initiatives for various finance processes, significantly enhancing efficiency and reducing manual intervention.
- Partnered with Global FP&A to design and implement robust review mechanisms, improving the efficiency of accounting processes, and developed insightful Power BI dashboards to facilitate data-driven decision-making.
- Collaborated effectively with Group and Statutory Auditors (PwC), facilitating smooth audits and prompt closure of audit points. Implemented internal controls based on PwC recommendations to mitigate risks effectively.
- Led a project to reconcile and close out old GRNI balances, collaborating effectively with stakeholders to close over 800 purchase orders, resulting in a significant positive impact on the Income statement.
- Successfully implemented various internal controls as per PwC recommendations, resulting in a significant reduction in audit findings over two years.
- Consistently maintained green accounting SLA metrics for over 36 months, demonstrating exceptional adherence to service level agreements and timely financial reporting.
- Drove the successful write-off of a significant number of fully depreciated assets from FAR, collaborating effectively with stakeholders across Facilities, IT, and Desktop Operations.
Head Finance
Langoor Digital Pvt Ltd (Now Langoor Havas)
12.2016 - 02.2019
- Responsible for overseeing all aspects of finance, accounting, and FP&A for four international entities. Played a key role in centralizing accounting and reporting functions, establishing standardized processes, and partnering with senior leadership to achieve business objectives.
- Led Finance, Accounts, and FP&A functions for India, Australia, Dubai, and Singapore entities, demonstrating experience in managing international financial operations.
- Successfully established a centralized Accounting & Reporting function in Bangalore, streamlining processes and improving efficiency for all locations.
- Developed and implemented standardized Accounting SOPs and flowcharts, ensuring compliance with key accounting policies and best practices.
- Collaborated effectively with senior leadership across departments to prepare annual budgets, conduct quarterly performance reviews, and provide strategic financial insights.
- Conducted detailed variance analysis on financial data, identified revenue and cost discrepancies, and provided actionable recommendations to management for improvement.
- Developed and presented standardized reporting templates for management, enhancing transparency and facilitating informed decision-making.
Team Manager
Capgemini India Pvt Ltd
07.2014 - 12.2016
- Responsible for leading a team in delivering high-quality R2R and financial reporting services for a major client across the APAC region. Demonstrated a strong understanding of SLA management, client relationship management, and team leadership.
- Managed Record-to-Report (R2R) and Financial Reporting service delivery for a key client across 7 countries in the APAC region, ensuring timely and accurate financial reporting.
- Successfully maintained consistent green status on the SLA Matrix, exceeding service level agreements and client expectations.
- Conducted comprehensive trend analysis of P&L accounts, providing valuable financial insights to stakeholders.
- Reviewed and analyzed Balance Sheet reconciliations and movements, ensuring accuracy and compliance.
- Managed and mentored a team of finance professionals, fostering a positive and high-performing work environment.
Asst Manager Finance
Symphony Teleca Corp (I) Pvt Ltd
04.2013 - 07.2014
- Responsible for supporting the month-end and quarter-end close processes, performing key accounting tasks, and ensuring compliance with financial regulations.
- Managed key aspects of the Record-to-Report (R2R) process, ensuring timely and accurate posting of customer receipts and vendor payments.
- Conducted regular reviews of critical ledger accounts, performed trend analysis on costs, and prepared reports for management, providing valuable financial insights.
- Managed month-end accruals for both revenue and expenses, ensuring accurate financial reporting.
- Prepared and reviewed quarterly bad debts provisions, demonstrating a proactive approach to risk management.
- Reconciled GL balances with sub-ledgers for Accounts Payable (AP) and Accounts Receivable (AR), ensuring data integrity and accuracy.
- Prepared Balance Sheet reconciliations and schedules for all GL accounts, demonstrating strong accounting proficiency.
Manager Finance
Ogilvy & Mather Pvt Ltd
09.2008 - 04.2013
- Responsible for managing a broad range of financial operations, including billing, accounts receivable, accounts payable, general accounting, reporting, and financial planning and analysis.
- Managed all aspects of billing and accounts receivable, ensuring timely and accurate invoicing, revenue recognition, and collections.
- Oversaw accounts payable processes, including vendor management, invoice processing, cash flow forecasting, and expense accruals.
- Prepared balance sheet reconciliations, intercompany reconciliations, and provided variance explanations for month-end and quarter-end reporting.
- Collaborated with senior leadership to develop staffing plans, monitor budgets, and prepare monthly financial reports.
- Transitioned the company's financial systems from MFGPRO to SAP, demonstrating adaptability and a proactive approach to process improvement.
Team Lead
Capgemini Business Services /Unilever India Shared Services Ltd
09.2003 - 09.2008
- Responsible for leading and managing a team in the successful transition and execution of the P2P process for a major client.
- Played a key role in ensuring timely and accurate processing of high-volume transactions, maintaining vendor relationships, and collaborating with auditors.
- Successfully transitioned the Procure-to-Pay (P2P) process from multiple locations, including an international location, to the shared services center in Bangalore, demonstrating experience in handling complex transitions.
- Managed a high-volume P2P process for a major FMCG client, overseeing the processing of approximately 150,000 invoices annually, with total payments amounting to Rs. 1,800 crores.
- Oversaw all aspects of vendor management, including vendor master data creation and maintenance, invoice processing, and query resolution.
- Managed a team responsible for employee expense claim processing, ensuring compliance with company policies and timely reimbursements.
- Collaborated effectively with Statutory, Internal, and SOX auditors, facilitating smooth audit processes and promptly addressing audit queries.
- Proactively identified and resolved payment processing issues, minimizing delays and ensuring timely vendor payments.
- Monitored and reported on key performance indicators, including SLA and TAT, to management and clients on a monthly basis.
- Successfully obtained No Due Certificates for a significant sum of 1463 Million Rupees, demonstrating exceptional negotiation and stakeholder management skills.
- Recognized for outstanding performance in Accounts Payables, receiving 3 awards, highlighting a strong commitment to efficiency and accuracy.
- Led the successful implementation of an Electronic Fund Transfer (EFT) initiative, transitioning over 80% of vendors from cheque payments to NEFT, showcasing a proactive approach to process optimization and automation.
Audit & Accounts Assistant
Raghavendra & Associates
10.2001 - 08.2003
- Assisted senior auditors and accountants in conducting audits, preparing financial statements, and ensuring compliance with relevant accounting standards and tax regulations.
- Provided support in various audit and accounting engagements, gaining practical experience in financial statement preparation, tax compliance, and internal control procedures.
Articled Clerk
D.Mohan Rao & Associates
06.1998 - 08.2001
- Assisted chartered accountants in conducting audits, preparing financial statements, and providing tax and accounting advisory services to clients.
- Gained comprehensive exposure to various aspects of accounting, auditing, and taxation while completing a rigorous articleship program under the guidance of experienced professionals.
Education
B. Com, Bachelor of Commerce -
Vidyavardhaka College of Commerce
MysoreSkills
- Leadership Communication
- Teamwork
- Problem-solving
- Process Improvement
- Analytical Skills
- Time Management
- Adaptability
- Relationship Management
- Negotiation
- Financial Reporting
- Accounting
- P2P
- R2R
- Internal Controls
- Process Automation
- Power BI
- Auditing
- Finance Transformation
- Financial Management
- Process Optimization
- Team Leadership
- Stakeholder Management
- Compliance & Risk Management
- Financial reporting
- Process improvement
- Financial analysis
- Compliance management
Certification
Pursuing US CPA
Languages
Kannada
English
Hindi
Websites, Portfolios and Profiles
https://www.linkedin.com/in/raakesh-mrao-89709443/
Hobbies and Interests
Traveling
Interests
- Reading business magazines to understand what's happening around the world
- listening to music to relax and rejuvenate when i am too stressed
Accomplishments
- Recognised by management for [Type] projects delivering outstanding [Result].
- Investigated, identified and reconciled account discrepancies totalling £[Number] in company savings.
Work Availability
monday
tuesday
wednesday
thursday
friday
saturday
sunday
morning
afternoon
evening
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Timeline
Senior Manager Finance
Finastra Software Solutions India Pvt Ltd
02.2019 - Current
Head Finance
Langoor Digital Pvt Ltd (Now Langoor Havas)
12.2016 - 02.2019
Team Manager
Capgemini India Pvt Ltd
07.2014 - 12.2016
Asst Manager Finance
Symphony Teleca Corp (I) Pvt Ltd
04.2013 - 07.2014
Manager Finance
Ogilvy & Mather Pvt Ltd
09.2008 - 04.2013
Team Lead
Capgemini Business Services /Unilever India Shared Services Ltd
09.2003 - 09.2008
Audit & Accounts Assistant
Raghavendra & Associates
10.2001 - 08.2003
Articled Clerk
D.Mohan Rao & Associates
06.1998 - 08.2001
B. Com, Bachelor of Commerce -
Vidyavardhaka College of Commerce