Vibhor Chaturvedi

Treasury Controller (Europe, UK and Asia)

• Managed the end-to-end treasury accounting processes, focusing on the maintenance, enhancement, and development of reliable hedge accounting practices aligned with IFRS and UK GAAP standards.
• Ensured full compliance with hedge documentation requirements, conducting monthly hedge effectiveness assessments, and preparing comprehensive hedge documentation.
• Identified strategic opportunities for new hedges by analyzing cash flow and net investment horizon strategies, supporting business growth and risk mitigation.
• Ensured timely execution of VPPA contract renegotiations, coordinating with relevant stakeholders to align contractual terms with strategic objectives.
• Conducted rebalancing of hedges to address and record hedge ineffectiveness, maintaining hedge effectiveness and compliance with accounting standards.
• Analyzed and quantified hedge ineffectiveness, delivering detailed rationale and insights to business units and CFO to inform decision-making.
• Performed valuation procedures on derivatives including Virtual Power Purchase Agreements (VPPAs), FX forwards, and FX swaps across multiple European and UK entities.
• Calculated and posted hedge accounting adjustments for cash flow hedges related to VPPA and FX contracts, ensuring accurate financial reporting.
• Audited inventory, capital expenditure, power price hedging, basis adjustments, and assessed exemptions such as the own-use exemption for commodity contracts.
• Providing the range of Hedge inefficiencies to the business in due course.
• Review working capital figures and submit a comprehensive report on a quarterly basis for the entire group.
• Reporting directly to the Group Treasurer and managed a team of 5 professionals.

• Conducted treasury audit procedures on corporate and listed audit engagements, discussing, issuing, and documenting misstatements in findings memos for audit teams and clients.
• Provided accounting advisory support on complex issues such as hedge accounting, hedge documentation, and hedge effectiveness.
• Analyzed treasury processes of FTSE 100 companies, specifically focusing on derivatives and hedge accounting end-to-end.
• Performed valuation procedures on various financial instruments, including cross-currency interest rate swaps, FX forwards, and FX swaps, using Thomson Reuters tools.
• Identified and documented operational and financial risks within treasury trading lifecycle and hedge accounting processes.
• Tested hedge accounting implementations (cash flow, fair value, and net investment hedges) under IFRS 9, ensuring compliance with new documentation requirements and appropriate treatment of currency basis, forward points, and basis adjustments.
• Conducted detailed analytical reviews of mark-to-market valuations, hedge reserves, and hedge ineffectiveness on a quarterly basis.
• Assessed the applicability of the own-use exemption on non-financial items.
• Prepared workpapers for all procedures, analyzed findings, and communicated results effectively with clients and stakeholders.

• Performed substantive audit procedures on client hedge accounting processes, including cash flow hedges, fair value hedges, and net investment hedges.
• Documented and issued findings memos to support audit teams.
• Analysed IBOR transition and loan refinancing activities, providing detailed conclusions.
• Reviewed clients’ hedge effectiveness calculations, including critical terms match, dollar offset, hypothetical derivative approach, regression analysis, and hedging via non-derivative instruments (e.g., debt).
• Reviewed derivatives valuations, incorporating credit value adjustments (CVA), debit value adjustments (DVA), and recalculated valuations where necessary.
• Managed client portfolios across various industries, including listed companies, UK PIEs, airports, PFI projects, energy, and FMCG sectors.
• Maintained regular contact with UK-based teams to ensure resource allocation, project staffing, and to gather feedback on work quality.

• Part of the Specialized Accounting team, responsible for preparing and reviewing monthly close processes and daily tasks related to derivatives hedging, loan accounting, and derivatives accounting under US GAAP.
• Independently addressed and resolved queries raised by auditors.
• Traveled onshore to Boston, USA, to facilitate knowledge transfer on complex tasks involving Essbase and Oracle applications.
• Promoted to Assistant Manager in recognition of performance and contributions.

• Traveled to Tokyo on-site for a short-term assignment supporting hedge accounting transition.
• Worked with a broad range of securities and derivatives, including stocks, bonds, swaps, and forwards, implementing various hedge strategies such as total return swaps, negative basis trading (CDS), IRS macro and individual hedges, using hypothetical derivative approaches.
• Conducted hedge testing through methodologies including regression analysis, FX micro hedges, and interest rate swap hedges (micro and macro).

• Responsible for preparing monthly CFO reports and assisting the bank with the preparation of annual financial statements and results announcements.
• Collaborated with the Group Finance team in Australia to prepare group-level cash flow statements on a half-yearly and annual basis.

• Performed Statutory, special & Internal audits for various small and mid-sized clients
• Preparing income tax computations for business assesses and HUF.
• Various audits.