Sanjay Gupta
Devonshire,Bermuda
Summary
A Chartered Accountant with 9 years post qualification audit experience, notably providing assurance to multiple insurance, re- insurance, and captive entities in Bermuda with specific focus on reinsurance entities with Property & Casualty lines of business and Life Industry. Client experience includes the evaluation of the effectiveness of controls to support SOX 404, detail reviewing financial statements under both US GAAP, IFRS and Bermuda regulatory reporting requirements and taking proactive initiatives to ensure organization of projects run smoothly across multiple foreign currency jurisdictions.
Overview
9
9
years of professional experience
Work History
Senior Manager
EY Bermuda Ltd
08.2023 - Current
- Lead and manage a team of auditors in conducting risk-based internal audits for various insurance lines, including property and casualty, life, health, and reinsurance.
- Develop and implement audit plans, ensuring alignment with the company's strategic objectives and regulatory requirements.
- Assess the effectiveness of internal controls and provide recommendations for improvement to mitigate risks and enhance operational efficiency.
- Review audit findings and prepare comprehensive reports for senior management and the audit committee, highlighting significant issues and recommending corrective actions.
- Collaborate with cross-functional teams to ensure timely resolution of identified control weaknesses and process inefficiencies.
- Monitor emerging industry trends, regulatory changes, and best practices to enhance the audit methodology and stay updated with evolving risks.
- Mentor and train junior auditors, providing guidance and support in their professional development.
- Maintain strong relationships with key stakeholders, including senior management, external auditors, and regulatory bodies.
Audit Manager
EY Bermuda
10.2020 - 07.2023
- Prepared and presented the audit results pack to the joint Board of Directors and Audit
Committee meeting. - Provided assurance around complex accounting concepts such as premium estimates and
outstanding loss reserves, which has included SOX 404 controls testing across multiple
entities of a single client, ensuring consistency of application across the Group. - Performed detailed reviews of Client technical accounting memos surrounding complex
reinsurance contracts to ensure appropriate US GAAP/IFRS accounting treatment. - Performed independent review and accounting of Hyperinflationary environment.
- Worked on Goodwill and Intangible Assets Annual Impairment Assessment.
- Experience auditing the investment portfolio of large private companies. Leveling and
pricing valuations testing for Level 1 to Level 3 investments. - Coordinated multiple service lines (tax, actuarial, investment etc.) around the globe to
deliver specialized knowledge and expertise to audit clients. - Working as GDS Champion for BBC regions in order to increase the margin of the business.
- Participating in different initiatives of the organization like Counselor-Counselee
Structure, Performance Management, Recruitment. - Developing workflows with the use of Alteryx to support various process. Prepared
process flow diagrams in Visio from the narratives provided. - Detail reviewed financial statements under both US GAAP and IFRS and Bermuda
Regulatory Reporting, including familiarity of the financial statement disclosure
checklists which include current and upcoming US GAAP accounting standards. - Managed a team of 10 Senior Auditors and Staff to successfully deliver 15 engagements
concurrently throughout the year within tight timeframes laid out by my clients.
Audit Senior
EY Bermuda And Deloitte India
12.2014 - 09.2020
- Senior on audit of clients in Financial Services Industry performed in accordance with the standards of PCAOB, AICPA and IFRS
- Manage team activities, delegate & perform financial reporting assignments to ensure timely delivery of work requests
- Supervise, train, evaluate and provide valuable feedback to junior staff to ensure their future development
- Classification of Investment based on Level I, Level II and Level III
- Experience of working directly with the onshore client and completing full audit areas from India and acting as a primary reviewer for key audit areas in Insurance industry
- Performed Journal entry testing, design and implementation of internal control and substantive audit procedures on financial statement accounts of the companies
- Tested Cash, Account receivable, Accounts payable, prepaid expenses, unearned premium and other account balances
- Reinsurance contract and Risk transfer analysis of reinsurance contracts
- Preparation Of cash flow and reconciliation of statutory financial statement with GAAP
- Pricing Valuation
- Reviewed client's 10K/financial reports to ensure company reported accurate financial Information to investors
Education
Chartered Accountant -
Institute of Chartered Accountants of India (ICAI)
2014
Bachelor of Commerce -
Rajasthan University
2012
Skills
- Strong knowledge of insurance industry regulations, SOX compliance, and risk management practices
- Proficient in conducting risk-based internal audits and evaluating the effectiveness of internal controls
- Excellent analytical and problem-solving skills, with the ability to identify and address potential risks and control weaknesses
- Strong leadership and team management abilities, with a track record of successfully leading audit engagements and developing staff
- Exceptional communication and interpersonal skills, with the ability to interact effectively with stakeholders at all levels
- Proficient in using audit software and tools, including Microsoft Office Suite
Additional Information
- Achievements , Applause Award for commitment and dedication towards clients in February, 2018 Applause Award for client service in November, 2017 Winner of Interstate Cricket Tournament. Involved in various NGO activity.
Languages
English
Native or Bilingual
Hindi
Native or Bilingual
Timeline
Senior Manager
EY Bermuda Ltd
08.2023 - Current
Audit Manager
EY Bermuda
10.2020 - 07.2023
Audit Senior
EY Bermuda And Deloitte India
12.2014 - 09.2020
Chartered Accountant -
Institute of Chartered Accountants of India (ICAI)
Bachelor of Commerce -
Rajasthan University
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