Accounting Financial

Kashif Vakil

*** ***** ****, ***** *********, NJ 08852

Contact: mobile: +1-917-***-****; email: ***********@*******.***

Summary

●18 plus years experienced accounting professional with solid leadership, communication, problem-solving and analytical skills

●Extensive knowledge of banking products, with significant experience of dealing with complex accounting matters under IFRS and U.S. GAAP

●Ability to handle high-pressure situations in a professional and effective manner with strong organizational and project management abilities

Professional Certifications

Passed all CPAexams, licensure in progress

Chartered Accountant (6 years course)- graduated in December 2002. Awarded Gold Medal for best overall performance in the topic of Strategic Financial Management

Completed inter Commerce (12th Grade) from Govt. College of Commerce & Economics – Karachi, Pakistan

Matric (10th Grade) from Karachi Public School- Karachi, Pakistan

Professional Experience

DEXIA Credit Local (European banking group)

Director – Head of Financial Planning & Reporting 1/2015 to PRESENT

(Reporting Directly to North America CFO) -

SVP – Head of Financial Planning & Management Reporting 5/2014 to December 2014

●Lead the process of monthly consolidated financial reporting process for all North American Entities, including detailed financial performance analysis for each business line for senior management.

●Responsible for comprehensive financial reporting to head office based in Paris on a quarterly basis.

●Lead the planning cycle, including 18 month budget and quarterly forecasting process

●Monitor and analyze monthly actual results against the budget.

●Work with Controller’s Group team to provide guidance on accounting treatment for all new financial products and new accounting pronouncements including hedge accounting under IFRS and USGAAP for head office and local regulatory reporting purposes. Major financial products dealth with at Dexia are securities, derivatives (which includes interest rate swaps, cross currency swaps, swaptions, CDS, FX forwards), commercial loans, Repo/ Reverse Repos, Commercial papers, borrowings issued through Special Purpose Entities and other short and long term borrowings.

●Partner with Treasury on Balance Sheet related processes and projects, such as funding plan and related cost allocation and liquidity reporting.

●Work with Market Risk and valuation groups, to determine appropriate valuation methodologies for complex products, hedged interest rate risk and fair value hierarchy determination.

●Responsible for Quarterly presentation of financial results for North America Management Board and for head Office Controlling Group, Product Control, Business Analysis and other ad hoc analysis, reports and presentation for CFO and CEO of North American Operations.

●Provide regulators on a quarterly basis, business performance review and also provide responses to their questions.

●Provide Head office transaction level information for consolidated Basel reporting.

Vice President – Head of Financial Control Unit 4/2008 to 4/2014

●Responsible for the accounting operations of the Bank, including setting policy in accordance with US Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS), periodic review of various financial reports, maintaining adequate control environment and managing the accounting systems.

●Responsible for managing the process of monthly closing of all the legal entities, Branches and real estate investment trusts

●Responsible for review of quarterly head office reporting package for all US entities and Branches, including review of various reports / schedules for Head Office and Regulatory Reporting.

●Responsible for overseeing the accounting of all the derivatives, securities, commercial loans, Repo/ Reverse Repos, Commercial papers, all other short and long term borrowings, hedge accounting and accounting of all the special purpose entities controlled by the Bank under the International Financial Reporting Standards (IFRS), U.S. and French GAAP.

●Responsible for managing the external audit of all the north American entities and Branches

●Responsible for external financial reporting of Canada Branch under IFRS

●Interpreting new technical accounting issues and developing policies and procedures to ensure compliance with the requirements of IFRS and US GAAP. The US GAAP Standards mainly dealt with in Dexia are SFAS 91 (ASC310-20), SFAS 115 (ASC320), SFAS 133 (ASC 815), SFAS 157(ASC820) and SFAS 159(ASC825). International Financial Reporting Standards mainly dealt are IAS 7, IAS 27, IAS 28, IAS 39, IFRS -7 and IFRS 9

●Active involvement with Market Risk Management in determination of valuation methodologies for securities, derivatives and valuation of hedged risks.

Major Special Projects managed at Dexia

Managed a project of change in accounting schemes of derivatives required as a result of implementation of Dodd Frank Act.

Major involvement in implementation of Oracle GL. Major tasks include, reviewing accounting schemes, verification of results produced by Oracle GL with the expected results and development of various reports for accounting / reporting purposes.

Lead the project of change in accounting classification of Securities portfolio as “loan” for IFRS Reporting purposes

Lead the project of de-designation of IRSs receiving cash flow hedge accounting and re-designation of the same IRS as fair value hedge. This project includes setup of hypothetical swaps for computation change in value of hedged risks.

Bank Leumi usa - New York, New York

Vice President – Accounting Policy & Financial Reporting 5/2006 to 4/2008

●Responsible for finalization of quarterly / annual financial statements of the bank and broker dealer subsidiary in accordance with U.S. GAAP

●Responsible for the implementation of SFAS No. 157, 158 and 159

●Acted as a key liaison point with the Bank's external auditors in respect of all accounting and financial statement disclosure issues

●Monitored and evaluated all new accounting pronouncements including assessing their impact on the Bank’s financial statements

●Responsible for the Bank’s entire derivative portfolio and hedge accounting in accordance with SFAS No. 133

●Reviewed and finalized FDICIA control testing matrices

Major Special Projects managed at Leumi

Lead the project of restatement of financial statements as a result of de-designation of hedge accounting

Major overhaul of Leumi FDICIA control tesing process.

Involved in implementation Paragon (securities subsidiary system). Major tasks included testing of premiums / discounts amortization on the various types of securities held by Leumi.

Ernst & Young LLP – New York, New York 9/2005 – 5/2006

Senior Auditor-Financial Services Office

●Planned and organized audit engagements, coordinated with client representatives, and reported to Senior Managers/Partners

●Responsible for planning and organization on audit engagements, coordination with client representatives, managing and directing staff of four to six members including coaching, reviewing and development of team members.

●Provided recommendations and process improvements to top level management based on review of internal controls

●Designed, redesigned and modified appropriate procedures and audit programs throughout the engagement

●Reviewed SOX 404 documentation and Internal Control System

ORIX Leasing Pakistan LIMITED (ORIX) –Karachi, Pakistan 9/2002 – 3/2005

Assistant Manager-Finance & Accounts

●Responsible for supervising a staff of 15 members, coordinating and providing guidance in maintenance of financial records and reporting to Deputy Managing Director / Chief Financial Officer.

●Supervised and ensured the timely preparation and reporting of the monthly/quarterly financial package to ORIX Corporation, Japan (the holding company of ORIX)

●Finalized statutory financial statements including implementation of IFRS

●Prepared company’s annual budget and its subsequent monitoring

●Liaised with the Information System Department for the purposes of implementing new systems, modifications to existing system, generation of new MIS reports in an Oracle based environment.

●Approval of payments and check signing

Ernst & Young - Karachi, Pakistan 7/1998 – 9/2002

Senior Auditor

●Performed auditing and reporting functions relevant to internal and statutory audits of various organizations

●Reviewed working papers and formulated audit opinion and reporting to the engagement partner

●Reviewed compliance of International Accounting Standards and other local reporting framework

●Planned, reviewed, and finalized special audits and agreed-upon procedures engagement

Others

Technology Well versed in Microsoft Office, including advance functional use of MS Excel, Word, Powerpoint; Working knowledge of Oracle Financial, Murex

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