Minal Patel

A.W.R. Berkley Company – Fortune 500 Company

Results-driven Financial Controller with extensive experience in the insurance industry, specializing in financial operations, compliance, and strategic planning. Expertise in budgeting, forecasting, and internal controls to drive profitability and efficiency. Strong leadership and analytical skills with a commitment to financial integrity and business growth.

• Direct the preparation of monthly, quarterly, and annual financial statements, ensuring compliance with GAAP, STAT, and regulatory standards.
• Oversee budgeting, forecasting, and variance analysis to drive strategic financial decisions and enhance profitability.
• Develop and implement internal controls to mitigate risk, strengthen financial integrity, and improve operational efficiency.
• Manage tax filings and ensure full compliance with federal and state insurance regulations.
• Prepare and analyze insurance-specific financial reports, including loss reserves, premium revenue analysis, and claims forecasting.
• Collaborate with actuarial and underwriting teams to assess financial performance, pricing models, and risk exposure.
• Conduct detailed financial data analysis to identify trends and provide actionable recommendations.
• Lead external audit processes, serving as the primary liaison for auditors and ensuring timely, accurate reporting.
• Develop and implement internal audit programs to maintain compliance with internal control policies and procedures.
• Oversee billing, accounts receivable/payable, general ledger management, and revenue recognition.
• Supervise and mentor accounting professionals, fostering high performance and adherence to best practices.
• Enhance financial and accounting systems, streamlining operations for accuracy and efficiency.
• Develop and document operational procedures, ensuring data integrity and process consistency.

As a Lead Corporate Accountant, conduct complex assignment involving maintaining Expense, General ledger accounts and International financial statement and reports following US GAAP and SGAAP (Spanish GAAP) accounting principles.

• Prepare complex consolidated financial reports utilizing a broad knowledge of accounting policies and procedures.
• Reviewing financial statements including Balance sheet and P&L to ensure a company follows all accounting regulations in the countries where it operates.
• Completing transactions with foreign companies, including mergers and acquisitions.
• Recommending way for companies to enhance their financial health through international business.
• Completing EY (Ernst & Young) audit request with preparation and review audit footnotes on yearly basis.
• Research complex reconciling issues and discrepancies; take corrective measures to prevent.
• Manage communication for all accounting process for various corporate and international divisions.
• Prepare & review Deferred Acquisition memo for international entities.

A.W.R. Berkley Company – Fortune 500 Company

A part of W.R. Berkley Organization that specialize in Property, casualty, Entertainment and Sports insurance for the NFL, MLS, and commercial, television, and film production, as well as commercial environmental risk coverages. The company comes with decades of experience that go beyond the basics, providing crafted coverage solutions to meet each client’s requirements. Managed all finance operations of the company, regarding insurance accounting, administration, and reporting pertaining to US GAAP and Statutory reporting requirements. Established and maintained insurance related accounting principles, practices, controls, initiatives, and client reporting.

Financial Analyst Supervisor

Nov 2019–August 2022

• Led international financial operations across Mexico, Japan, Brazil, Colombia, Spain, and the UK.
• Prepared GAAP and Statutory financial statements for domestic and international entities.
• Managed journal entries, reconciliations, and payments for international underwriting in foreign currencies and USD.
• Tracked and calculated premiums, UPR, earned premiums, commissions, IBNR, claims, and regulatory fees.
• Prepared Schedule P statutory reports and monthly/quarterly dashboard updates.
• Led month-end close, general ledger reconciliations, and variance analysis.
• Managed audit requests and regulatory examinations, ensuring compliance and accuracy.
• Reviewed and analyzed financial statements to support key business decisions.
• Supervised accounting staff, optimizing workflow and accuracy.
• Automated financial processes, enhancing efficiency in reporting and operations.
• Provided strategic financial recommendations, supporting budgeting and forecasting.

Senior Finance Analyst

Oct 2012-Nov 2019

• Collaborated with CFO and VP of Finance to drive financial strategy and operational efficiency.
• Supervised and reviewed quarterly and annual financial statements for eight insurance companies.
• Ensured compliance with GAAP, STAT, and SOX by documenting and refining financial policies and procedures.
• Assessed payroll, expenditures, and contract administration to optimize budget planning and financial controls.
• Managed daily cash reconciliations in PeopleSoft, optimizing bank activity downloads and workflow automation.
• Led month-end and year-end close processes, maintaining key premium files and ensuring financial accuracy.
• Resolved inter-company discrepancies using Hyperion, ensuring timely and accurate settlement of balances.
• Reconciled fixed assets and prepaids, generating accurate depreciation and amortization reports.
• Conducted in-depth analysis of branch-level expense transactions, improving financial reporting accuracy.
• Spearheaded accounting system conversions, transitioning acquired companies to PeopleSoft.
• Led system integrations, including Stone River to PeopleSoft and AS2000 to Wings, enhancing data accuracy.
• Implemented tax planning strategies, significantly reducing property and state tax liabilities.
• Prepared and filed personal property tax returns, ensuring compliance with state regulatory requirements.

Staff Accountant/Analyst

Feb 2006-Sep 2012

• Created detailed financial models and applied analytical tools to facilitate variance analysis.
• Supported asset transfers, lender and equity requests, and audit inquiries.
• Collaborated extensively with auditors during preliminary and year-end audit processes.
• Created and executed short- and long-term customized comprehensive financial strategies to reach company goals.
• Prepared and reviewed financial statements, resolving discrepancies after careful analysis.