Summary
Overview
Work History
Education
Skills
Timeline
Generic

Dilip Ollalwar

Westborough,USA

Summary

Qualified Chartered Accountant with over 18 Years of experience in the field of Financial Accounting, Consolidation, Accounts Payable, General Ledger, Treasury, Fixed Assets, Business Analysis, SOX Audit, Mergers and Acquisition and Budgeting.

Overview

19
19
years of professional experience

Work History

Financial Controller (Hybrid)

Sapphiros
10.2024 - Current
  • Managed full-cycle accounting and financial operations, including A/R, AP, Payroll, General Ledger, monthly/quarterly close, Fixed Assets Accounting and US GAAP financial reporting.
  • Managed the consolidation of 8 legal entities across US and international jurisdictions, ensuring intercompany eliminations, currency translations, US GAAP adjustments for UK entities, and full compliance with statutory and reporting requirements.
  • Designed and implemented scalable accounting workflows to support growth, fundraising events, and evolving operational complexity.
  • Support budgeting and forecasting processes aligned with R&D program timelines, and G&A cost control.
  • Oversaw treasury operations, including cash flow forecasting, and banking relations.
  • Implemented and administered financial systems, including Microsoft Dynamics Business Central, to streamline accounting operations and improve data accuracy and reporting efficiency.
  • Led end-to-end data migration from QuickBooks and Bill.com to MS Dynamics BC, ensuring integrity, continuity, and minimal business disruption.
  • Developed system workflows, approval hierarchies, and reporting structures aligned with biotech-specific needs, including project-based cost tracking and departmental reporting.
  • Ensured compliance with internal controls, audit readiness, and federal/state tax filings.
  • Coordinated with external auditors, tax advisors, and consultants to support financial audits and ensure regulatory compliance.

Financial Controller (Hybrid)

ProtaGene
12.2021 - 10.2024
  • Manage all accounting operations including Billing, A/R, A/P, GL, Payroll, FA
  • Controls over procurement. Ensure that all purchases compliant with authorization matrix
  • Responsible for Month End Close
  • Prepare publish financials reports in accordance with US GAAP
  • Publish financials and KPIs to executive management
  • Manage with external auditors for financial audit, tax provision and tax filings
  • Manage Revenue Recognition and Revenue Forecast. Continuous monitoring of revenue actuals with revenue forecast by coordinating with various project managers.
  • Manage annual budget process. Coordinate with various cross functional team for inputs, review and finalization of functional and overall corporate budget
  • Act as business partner to functional department leads, providing financial guidance and key performance metrics to assist in critical decision making
  • Responsible for Cash Management
  • Responsible for all statutory filings

Senior Manager

Virtusa
01.2009 - 12.2021
  • Functioned as an active part of corporate finance team; managed different areas of corporate accounting, supervising the corporate accounting team (both offshore & onsite), recommendations for improvements in system and financial performance.
  • Reviewed and maintained Consolidated Financial Statements for external purpose in accordance with US GAAP and analyzed the financial data for internal purposes.
  • Responsible for Consolidated Income Statement and Balance sheet fluctuation analysis.
  • Managed global accounting records, general ledger, monthly quarterly & yearend close, review of all general ledger reconciliations, global reporting packages & schedules and managing of multicurrency operations/transactions/reports.
  • Managed monthly closing of financial records and posting of month end information; ensures accuracy of financial statements.
  • Responsible for Full-Cycle Accounts Payable process. Implements and maintains systems procedures and policies to ensure adherence to company guidelines. Setting up and managing overall process, communicating to various functions related to process guidelines, defining processes and metrics.
  • Generated business control documentation in compliance with SOX - Sarbanes-Oxley requirements; proposed Risk Control Metrics (RCM), procedures & methods available to test and evaluated the operating and designed effectiveness of business controls.
  • Responsible for compliance of all monthly, quarterly & yearly local statutory tax working, reporting, filing of returns.
  • Managed Fixed Assets Capitalization
  • Managed Cash Forecasting, Bank Reconciliation and Cash Management
  • Provide regular support to US Controller, Corporate Controller on various reporting requirements and Corporate Initiatives.
  • Compliance of business control documentation in compliance with SOX - Sarbanes-Oxley requirements; strict adherence to laid down procedures & methods available to test and evaluated the operating and designed effectiveness of business controls.
  • Counselling & handholding for system & process integration & realignment of new subsidiaries by closely working all the stakeholders.
  • Coordination with Internal and External Auditor for Statutory and Internal Audits – SOX Internal and External Audit, Group Audit.
  • Responsible for integration and consolidation of newly acquired companies into Virtusa’s Consolidated financials, Preparation of Closing Balances, Integration of Vendors with Virtusa’s processes, Calculation of Earnout as per purchase agreement.
  • Managed US statutory and compliance reporting like 1099 Reporting, Diversity Reporting for Clients, Census Bureau Surveys etc.
  • Supporting company’s external reporting requirements Form 10K, Form 10Q, and Form 8K’s
  • Measure, monitor, and publish KPI’s/dashboards related to the team’s process area. Identify and implement process improvement based on best practice of shared services.
  • Experience in Preparation of Detailed Requirement Document (DRD), Process Flow Charts, Test Case Scenarios, Pre-UAT and UAT testing for Oracle Fusion Cloud implementation project. Coordination with various internal Users, Stakeholders, cross functional department users to finalize the requirements.

Manager – Accounts Payable and General Accounting

Virtusa
01.2009 - 04.2015
  • Managed global accounting records, general ledger, monthly quarterly & yearend close, reviewing of all general ledger reconciliations, global reporting packages & schedules.
  • Generated business control documentation in compliance with SOX - Sarbanes-Oxley requirements; proposed procedures & methods available to test and evaluated the operating and designed effectiveness of business controls.
  • Manages monthly closing of financial records and posting of month end information; ensures accuracy of financial statements.
  • Fixed Assets Capitalization
  • Compliance of business control documentation in accordance with SOX - Sarbanes-Oxley requirements; strict adherence to laid down procedures & methods available to test and evaluated the operating and designed effectiveness of business controls.
  • Liaised with Internal and External Auditors
  • Measure, monitor, and publish KPI’s/dashboards related to the team’s process area. Identify and implement process improvement based on best practices of shared services.
  • Manages monthly closing of financial records and posting of month-end information; ensures accuracy of financial statements.
  • Responsible for compliance of all monthly, quarterly & yearly local statutory tax working, reporting, filing of returns.
  • Coordinated with Internal Auditors(E&Y) on SOX audits
  • Selects and hires employees for General Ledger and Accounts Payable function. Trains and evaluates employees to enhance their performance, development, and work product. Addresses performance issues and makes recommendations for personnel actions. Mentor, coach and develop team members and support workplace learning.

Business Analyst

Satyam Computer Services Limited
09.2007 - 01.2009
  • Interaction with internal finance customers for requirement gathering, re-engineering of processes with the aim of process efficiency and cost reduction.
  • Co-ordination with development team for application development.
  • Preparation of user requirement documents, test cases, carrying out functional testing, coordination with customers for UAT.
  • Application demo to the customers.
  • Prepare presentation decks for application launch, Help PPTs, User Manual.
  • Team Leading – Leading a team of business analyst, training & monitoring the performance of team members to ensure meeting of individual & group targets

Associate Manager-Accounts Payable

GENPACT
03.2006 - 09.2007
  • Leading a team of 11 invoice processing associates.
  • Defining the Metrics/KPI.
  • Responsible for daily, weekly, monthly MIS reporting to the management.
  • Performing analysis of variances and identifying action plan, Root Cause Analysis for the accuracy issues (Errors) and for Variances identified & performing Cost benefit analysis for decision making.
  • Analyzing existing systems and procedures, designing internal control systems and facilitate effective decision-making.
  • Fixing the daily target for individual and to team to reduce the backlog.
  • Performed monthly one-on-one, performance appraisals, early warning system for the team members

Education

Qualified Chartered Accountant -

Institute of Chartered Accountants of India
11.2005

Bachelor of Commerce - undefined

Nagpur University
01.1998

Skills

  • Financial Skills: Consolidation, Financial Reporting, General Ledger Accounting, Accounts Payable, Fixed Assets, Treasury, Payroll, Statutory Compliance
  • Systems Knowledge: Oracle R12 and Oracle Cloud, QuickBooks, Billcom, Microsoft Great Plains Systems, Microsoft Dynamics Business Central, MS Office, Business Analyst, Visio Flowchart, PowerPoint Presentation
  • Internal controls
  • Cash flow management
  • Accounts payable and receivable
  • Tax compliance
  • Fixed asset management
  • General ledger management
  • Intercompany transactions
  • Revenue recognition
  • ERP systems expertise
  • Budgetary planning
  • Consolidation accounting
  • US GAAP proficiency
  • Payroll processing
  • General ledger accounting
  • Month-end closing
  • Variance analysis

Timeline

Financial Controller (Hybrid)

Sapphiros
10.2024 - Current

Financial Controller (Hybrid)

ProtaGene
12.2021 - 10.2024

Senior Manager

Virtusa
01.2009 - 12.2021

Manager – Accounts Payable and General Accounting

Virtusa
01.2009 - 04.2015

Business Analyst

Satyam Computer Services Limited
09.2007 - 01.2009

Associate Manager-Accounts Payable

GENPACT
03.2006 - 09.2007

Bachelor of Commerce - undefined

Nagpur University

Qualified Chartered Accountant -

Institute of Chartered Accountants of India

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Dilip Ollalwar