Bhumika Sheth

Central Region Senior Financial Analyst

DHL GLOBAL FORWARDING

Chicago, Illinois

01.2007 - Current

Fast-track progressive growth through various roles with ever-increasing responsibility, from initial position of Junior Controller to Accounting Supervisor to Accounts Payables & Payroll Manager
Current role is Senior Financial Analyst for Central Region
Financial leadership role with accountability for the daily control and management of accounting and finance operations, including the timely and accurate review/assist in preparation of monthly, quarterly and annual financial statements and management reports as well as G/L account reconciliations
Cargowise System Matter Expert (SME) & Cargowise Certified Professional (CCP) supporting and helping to resolve day to day queries within Cargo wise billing discrepancies for all US locations for DHL Global Forwarding
Review and monitor sick file reports, voucher reversal process, avoid duplicate payments and fix posting transactions
Work with GSC groups overseas on daily base for urgent timely ACH and check payments for Ocean and Air products within Cargowise system
Direct various facets of general accounting: A/P, A/R, month and year-end closings, ad hoc reporting, cash flow analysis, budgeting/forecasting as well as asset management and internal/external auditing
Ensure all financial documentation is in strict compliance with GAAP regulatory standards
Provide strong leadership and direction to a team of seven direct reports; recruit, interview, hire and train staff; regularly assess employee performance levels, identifying areas in need of improvement and implementing corrective action plans when necessary
Process payroll via KRONOS, as well as employee expense reports, manual checks and travel advances using IIB
Additional responsibilities include actively maintaining G/L code accounts chart, approving high-value billing correction transactions, reviewing monthly P&L statements and processing monthly journal entries
Perform cost variance analysis for all company products (ocean, air, brokerage and domestic) utilizing Job Costing Reports
Play a key role in the development and implementation of procedural enhancements and process improvements designed to increase work flow, surpass organizational KPIs and exceed corporate expectations in regard to financial management, budgeting, reduction in out of period costs, closely managing direct operating expenses, processing timely vendor payments & inventory control
Establish and maintain open lines of communication between management and vendors by closely monitoring E-IRCN global mailbox requests; Hold full budgetary responsibility for the Purchasing Department (via E-Procurement); ensure strict organizational compliance on all purchase order claims/contracts; source/secure and aggressively negotiate contracts with the most cost-effective vendors based on product availability and budgetary restrictions.
Review, analyze & monitor of all financial reports including Ex Works reporting for DGF truckers, internal audit reports, run monthly Procurement purchasing data, COSS reporting, RRA/ICO renter spreadsheet and Workflow A/R reports for region.
Oversee the General Accounting processes of Inter-company, Fixed assets and financial reporting of all entities
Verify & follow up accuracy of managed pay checks, vendor codes by ensuring that costs are coded to the correct function and locations and transactions are processed in timely manner
Analyze management financial reports on a monthly basis to identify alternative measures to produce higher revenues while simultaneously minimizing direct operating expenses
Strategically manage G/L accounts by processing overhead expenses, auditing financial statements and ensuring the accuracy of ledger accounts posted in JBA; facilitate the analysis, coding and approval of monthly summary transactions to manage station P-Card expenses within the GCMS system
Identify and communicate risk management/internal controls issues to audit committee; provide innovative enhancement recommendations to increase operational efficiency/effectiveness
Compose and maintain statutory account data for key suppliers in DGF Procurement system
Serve as the organizational liaison and primary point of contact between local office, corporate headquarters and out-sourced (overseas) personnel regarding financial decision-making
Recipient of multiple rewards from executive leadership for the development and implementation of innovative new concepts which have resulted in significant process improvements.
Developed and implemented procure to pay policies and procedures to ensure compliance with internal control regulations.
Reviewed monthly bank reconciliations for accuracy and completeness.
Coordinated with external auditors during annual audits to ensure accurate reporting of treasury activities.
Negotiated terms on corporate financing arrangements such as letters of credit or revolving lines of credit.
Provided guidance and support to junior staff members on various treasury initiatives and projects.
Collaborated with other departments when necessary in order to facilitate successful completion of tasks or objectives.
Updated billing procedures to improve overall efficiency and reduce accounts receivable.
Streamlined operations to achieve new efficiencies, improve on-time collections
Collaborated with program leaders and staff to provide education and training on finance and accounting procedures.
Spearheaded and directed accounting divisions to manage fund accounting, accounts payable and accounts receivable, payroll, budget and grant accounting functions.
Played a key role in implementing RAFT AI to automate accounts payable and invoice auditing at DHL Global Forwarding’s largest Chicago branch. This initiative streamlined payments for suppliers, truckers, and third-party accounts, reducing manual work and boosting accuracy through ERP integration. It helped improve invoice data capture and classification while cutting down on errors and labor costs.
Improved overall efficiency in accounts payable by automating workflows and real-time reporting on vendor performance and outstanding payables. This led to better accuracy in cost accounting, quicker identification of discrepancies, and stronger compliance with purchase orders and supplier contracts, ultimately improving cash flow management and reducing exceptions.

Summary

Overview

Work History

Central Region Senior Financial Analyst

Education

Bachelor of Accountancy - Accounting And Finance

Skills

Certification

Timeline

Central Region Senior Financial Analyst

Bachelor of Accountancy - Accounting And Finance

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