Balance Sheet Financial Analysis

BARON OGBOLU (ACCA)

London SE** 078**-***-*** *******@***.*** LinkedIn: www.linkedin.com/in/baron-ogbolu

QUALIFIED FINANCE PROFESSIONAL

Over 10 Years of Finance/Accounting Experience

Strategic, solutions driven professional with exposure in the area of financial analysis, reporting and compliance. Expertise in preparing and analyzing financial statements, ensuring regulatory compliance, and providing strategic insights to senior management. Strong background in financial systems and a proven track record of improving reporting processes and financial controls. Exposure to IFRS, FRS 101&102, Charity SORP, SOX and FReM.

CORE COMPETENCIES

● Budgeting & Forecasting ● Balance Sheet Reconciliations ● Financial Analysis & Management Reporting ● Month End & Year End account closure ● Resource Allocation ● Auditing & Internal Control ● Tax Compliance ● Business Partnering ● Due Diligence ● Process Improvements ● Relationship Building ● Cashflow Management ● Risk Management ● Fund Management ● People Management ● Project Management ● Investment Appraisal

● Consolidated Group Reporting ● identifying gaps and improving Financial Controls

SYSTEM EXPERIENCE

Oracle Fusion, PeopleSoft-Nvisions, Workday Financials, HFM SmartView, Trintech Cadency(automated balance sheet recs), ACURRI, TM1,Financial Salesforce& Adaptive, AGRESSO, Microsoft Dynamics (Navision,) Oracle Hyperion (Essbase)/ SmartView, SAP/SAP BFC reporting tool, SUN/Info Q&A, IPOs, Proactis, MICROS, Oracle Financials (implementation and end user), JD Edwards, RBS Bankline, MS Excel (pivot tables, v-lookups, sumifs, modeling, charting), SAGE (accounting & payroll), QuickBooks, MS (Visio, Project, Word, PowerPoint, Outlook), Google sheet, Tableau, Clearwater

PROFESSIONAL EXPERIENCE

UK RESEARCH AND INNOVATION (UKRI)

Senior Financial Accountant systems: Oracle Fusion (OBIEE), Trintech and COINS May 2023 – Present

Responsible for production of monthly primary statements (SOCNE, SOFP and SOCTE) with schedules for notes to the accounts for 6 designated councils in collaboration with Finance Business Partners as part of consolidated financial statements for the Group.

Responsible for the review and flagging up anomalies for the monthly balance sheet recs prepared by a junior staff for the designated councils using OBIEE reporting tool and Trintech Cadency reports as guides.

Responsible for maintaining and updating the harmonization mapping and Charts of Accounts for the Group and feedback to Finance Business Partners’.

Annually: Responsible for the Interim and final accounts pack for DSIT- upload of Trial balance, local mapping structure and non-TB notes to accounts for the Councils managed onto EPM (COINS),

Annually: Responsible for producing indexation of Farmland, Land & Building and Furniture and Fitting as part of Revaluation exercise for NAO and Assets Service team. Producing papers for NAO on indexation exercise and audit sampling and analysis.

Other ad hoc duties as part of key Achievements: Automation of account templates and sub-notes of Councils primary statements reducing process time for task from 2 days to 5 hours. Designing Process notes on account preparation for the designated Councils managed, liaising with HR to collate and producing bonus payment schedule for the Group and preparing and uploading of Pay award journals onto Oracle. Producing Accounting papers on SaaS and Internally Generated Assets. Lead on project on Lessons Learnt from completed year-end.

CHAUCER (a China- Re Company) October 2022 - May 2023

Group Reporting Manager systems: PeopleSoft, Tableau, Clearwater

Responsible for preparation of monthly and quarterly consolidated management FRS 102 reports (Related party transactions reports including inter-group reinsurance arrangements, primary financial statements, IFRS conversions process for risks margins, discounting and liability adequacy test, Board packs, data to support rating agencies reviews (Banking covenants), conducting balance sheet and income statement analysis reviews, investigating trends & variances and resolution of queries. Going Concern memo and impairment test models.

PROFESSIONAL EXPERIENCE (CONTINUED)

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Responsible for preparation of annual non-statutory IFRS compliant consolidated accounts and 16 subsidiary stat with explanatory notes, disclosures, and segmental reporting in compliance with group accounting policies and providing technical support and advice to the group and wider finance team on accounting treatments.

Supporting the group and legal entity audit process: leading on coordinating audit deliverables and schedules to support the Group consolidated annual accounts and submission to PwC.

Other ad hoc duties: preparation and maintenance of timetables related to group consolidation reporting. Driving efficiency in reporting process through revamping outdated schedules for reporting

GRANT THORNTON LLP January 2022- October 2022

Accounting and Advisory Manager systems: SAP & Oracle Fusion

Client service engagements for various FTSE 250 companies in assisting on Merger and Acquisition activities (Designing pre-sale and disposal restructure journals on Excel, working with tax team to compute capital allowance for disposed Profit Centre fixed and intangible assets and providing continued and discontinued operation activities analysis and footnote schedule for the financial statement of disposed entities. Resolving misposted invoices on R2R.

DEFRA & Environmental Agency August 2021 – January 2022

Senior Financial Accountant systems: Oracle Fusion & Discoverer

Assisted in production of the Annual Report and Accounts (ARA) for senior management review, ensuring the ARA document is updated for any changes to the FReM and accounting standard.

Developed a plan for Finance staff to meet the requirements of the National Audit Office at interim and final audit.

Ensured team input to key finance activities, such as Defra’s Annual Report and Accounts, is timely, accurate and that relevant interim and end year information is provided and preparation of the narrative section of the annual report.

Designed process notes for monthly, quarterly and annual task completed by the financial control team.

Provided expert finance advice and resolving queries from stakeholders (NAO, HMT, Cabinet Office and external delivery partners). Ensuring business areas have financial controls in place and are using the correct accounting treatment in line with International Financial Reporting Standards and government spending policies.

Production of financial tables cashflow, notes, analysis, reconciliations and reviews to support financial accounts.

Advised on the implementation of new accounting standards – IFRS 16 (Leases).

AON UK July 2020 – June 2021

Group Reporting Manager systems: Workday, Accurri, TM1 Cognos

Worked in Controllership Dept focused in managing the Group Reporting Process for the UK – specifically UK Consolidation of all Business Units with a strong focus on Balance Sheet, P&L and Working Capital Analytics. Responsible for the delivery of all main Pensions accounting requirements (including the quarterly statutory requirements and the performance of the annual SOX controls for Pensions). Deliverables of annual impairment test report, Directors’ emoluments and Share Based payment disclosures.

Monthly and Quarterly consolidated management reporting: prepared Related party transactions including inter-group reinsurance arrangements, IFRS conversion process for risk margins, discounting and liability adequacy testing, Balance sheet, Income statement, MI analysis (Investigated trends and variances and resolved), annual non-

statutory IFRS compliant consolidated accounts and explanatory notes which forms part of result board packs for Finance Committee meeting.

Reviewed, approved and submitted various reconciliations schedule like aging analysis, Investment in Subsidiary, elimination of intercompany journals, Goodwill, Equity investment produced by Controllership, UK GL Krakow (Poland), Genpact (India), EMEA finance team members together with signed version of UK balance sheet reports and commentaries to Consolidation Group Controller team in Chicago.

Responsible for UK monthly and quarterly balance sheet close timetable, arranging meetings and facilitating Monthly and quarter end Group close teleconference calls and preparing and coordinating consolidated balance sheet commentaries including Memos for sign off by Financial Controller and presentation by Head of Finance to the CFO.

Reviewed Working Capital and DSO metrics every month, obtained historical data of performance per Workday account level to prepare templates for cashflow plan, forecasts and recasts, working closely with UK Business and other accounting functions to finalise each Quarter cashflow plan/forecast.

Managed Aon UK Group Insurance processes, payments, accounting and data submissions to Aon’s Brokers.

Managed relationship with SOX team and UK External Group Audit (E&Y) – management of year end audit process including coordination with the audit team, managing and responding to audit and Pensions Sox queries.

PROFESSIONAL EXPERIENCE (CONTINUED)

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Responsible for reviewing the Error and Omission Risk management budget plans submitted by US team and approval of journal split between cost centres from Genpact (India) team.

Annually managed Pension SOX Controls process with E&Y, and Aon Hewitt Ltd Actuaries and preparing pension disclosures for statutory accounts including statement of control questionnaire for 22 pension assets funds of £4.8BN

Responsible for managing, mentoring, coaching and performance development reporting for a junior staff.

Responsible for preparing directors’ emolument schedules, issuing certificates for 41 entities, uploading director’s remuneration for these entities unto ACCURRI that forms part of the notes to the statutory accounts for these entities.

Department for Digital, Culture Media & Sport: March 2020 – June 2020

Accountant

Reviewed Consolidated account Packs submitted by Arm Length Bodies (subsidiaries) to ensure these are complete, accurate and submitted data passed all validations.

Supported colleagues and Arm Length Bodies in resolution of accounting (and budgetary) issues.

Worked as an intermediary between Arm Length Bodies to resolve any counter party elimination mismatches.

Prepared, reviewed, sense checked and proof reading of final accounts.

Reviewed the accounts to ensure conformity with the Government Financial Reporting Manual (FReM)

GIRL EFFECT GROUP system: Financial Salesforce &Adaptive July 2019 – December 2019

Senior Financial Accountant sector: Media & International development

Responsible for preparing Group consolidation schedule for 7 entities in multi-currency from Financial Salesforce & Adaptive reporting tool for Girl Effect Group, producing Group financial statement under FRS 102 together with all notes to the accounts. Liaising with Finance Director & project team to complete financial review section of account.

Responsible for collaborating with overseas finance manager for 7 subsidiaries to review trial balance and check all monthly and year end reconciliations schedules.

Reviewed journals, UK trial balance and reconciliations schedule produced by 2 junior staff and preparing recs for key control accounts (Intercompany, payroll, accrued holiday, investments, fixed assets, business travel and reserves) and investigating reasons for variances.

Responsible for coordinating Group audit timetable, deliverables, and liaising with auditors during fieldwork to finalise the Group accounts and that of other subsidiaries.

Supported overseas subsidiaries Finance Managers in their field audit including making recommendations on presentation of recorded items in financial statements under IFRS and proof- reading draft account for regions.

Other ad hoc: Resolved complex issues in mapping of Charts of accounts of newly acquired subsidiary in Asia.

THE SALVATION ARMY system: AGRESSO May 2018 – April 2019

Financial Accountant turnover: £114m

Year-end financial reporting, Balance sheet substantiation and analysis and Statutory compliance reports.

Responsible for producing quarterly consolidated income and expenditure reports and commentaries for 26 Social Housing Association cost centers and providing audit evidence for interim and year-end audit process.

Ad hoc duties: Assisted with UK VAT returns under Partial exemptions framework and VAT reconciliation.

Key Achievement:

Automated the quarterly consolidated management reporting schedule which lead to cost savings of c.£1m of unused license subscription for software programs.

UK FINANCE LIMITED systems: SUN/INFO Q&A 10 April 2018 – May 2018

Interim Project Accountant Sector: Financial Services turnover: £ 50m

Short term assignment to assist in carrying out year-end balance sheet reconciliation for key accounts like Payroll, Creditor’s control, WIP, debtors control account, prepayments and Pensions.

Assisted in putting together the templates for the financial statement together with carrying forward closing balances from previous years and updating the notes to the account.

SOGETI (UK) LTD systems: MS Dynamics Navision January 2018 – March 2018 Accountant Sector: Information Technology turnover: £37m

Year end: responsible for preparing year-end financial statement under FRS 101 & 102 for the organization, supporting schedules and notes to the accounts and making recommendations on disclosure requirements.

PROFESSIONAL EXPERIENCE (CONTINUED)

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Preparing audit files and working with auditors to resolve queries and finalize audit plans. Support in preparing operational staff cost budget and upload unto the Hyperion system.

Month end: balance sheet substantiation and commentaries, calculation and elimination of intercompany balances, booking agreed statement of work for sub-contractors (iSOW) unto Navision, preparing and posting journals and invoices for sub-contractors.

Key Achievements

Designed an invoice tracker system using Microsoft Excel, which helped to recoup £780k outstanding debts and avoid bad debt write- off £200k.

Delivered full set of statutory accounts with notes together with supporting schedules for external auditors.

FINANCIAL CONDUCT AUTHORITY systems: Oracle SmartView/Hyperion February 2017- June 2017

Financial Control Associate Sector: Financial services turnover: £575m

Provided support through year-end consolidated financial statements and annual audit process.

Month end process: preparation of balance sheet reconciliation and reviews and sign off of month end process.

Tax compliance: completion of Payment Settlement Agreement, VAT returns for submission to HMRC.

Process improvement testing/ review of journal and balance sheet process & policies and made recommendation for improvements. Designing Internal Control Questionnaire to test effectiveness of key financial controls to curb fraud.

Key Achievement:

Developed and implemented Internal Control Questionnaire to test for effectiveness of key financial control to give assurance to Financial Director on attesting for financial controls around AP, AR, fixed assets and revenue.

Streamlined monthly balance sheet report template and produce procedure manuals for responsibilities.

PRICEWATERHOUSECOOPERS [PwC (UK)] systems: SAP- BPC October 2015 – September 2016

Financial Reporting Manager Sector: Professional services turnover: £3.6bn

Year End Account completion: Preparation of audit electronic files and chasing up on deliverables for PwC Legal entities. Preparing statutory accounts, notes and detailed explanatory memorandums for 11 trading and 6 dormant subsidiaries for entities Directors and One Finance leadership together with sole responsibility for PwC Legal entities. Balance sheet reports analysis for fixed assets for inclusion into PwC LLP consolidated statutory accounts pack and reporting to Head of Finance. Responsible for preparing, posting and maintaining journal files for the Group Company. Attending audit clearance meetings for PwC legal final accounts.

Month End: Assisting in closing monthly consolidated Group trial balance, Reconciliation of designated balance sheet account (Intercompany, pensions, treasury, cash, PSA, account payable/receivable, fixed assets, WIP) with variance analysis, review of balance sheet reconciliation schedules and variance analysis produced by 2

Junior staff, challenging variances identified between SAP and their reconciliation schedules and producing monthly balance sheet report for Finance Director. Review of quarterly and annual business survey data prepared by junior staff for submission to the National Office of Statistics. Production and review of cost center commentaries for UK and Overseas entities using reporting tools, WIP (Work in progress), recharges and

billing of allocation for legal entity. Preparation of banking covenants, treasury reconciliation and review of effectiveness testing of hedge relationships.

Other ad-hoc duties: Involved in projects around research on new accounting standards and performing peer reviews of financial statements. Working closely with Firm Tax, Partner Affairs and Legal department to submit extended trial balance schedules. Assisting in review of iXBRL tagging of financial statements for the subsidiaries.

Key Achievement:

Designed procedure manual and provided training on new audit electronic files to the team.

Streamlined monthly balance reporting template and produced process procedure manuals for responsibilities.

Contributed to research of new accounting standards around IFRS16 – Leases through carrying out cost benefit analysis of the impact of new standard on current model.

Various Charities & PKF Littlejohn UK LLP: Financial Accountant & Audit Junior Jan 2007 – Sept 2015

Royal National Theatre, British Heart foundation, SCOPE, Church of England

Year-end financial reporting, Balance sheet substantiation and analysis and Statutory compliance reports

Conducting audit reviews and findings and reporting on substantive testing to Engagement partners

EDUCATION

Bsc, Economics & Statistics, University of Benin

Fellow Member: Association of Certified Chartered Accountants (ACCA)

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