Senior Accountant Private Equity
Resume:
Jiten C. Parikh 201-***-****
- Jersey City, NJ 07307 * ***********@*****.***
Actively seeking a position as a
Senior Accountant
in a company in need of an detail oriented professional
PROFESSIONAL EXPERIENCE
Senior Associates
Suntera Fund Services (Consultant) Oct 2024 –Jul 2025
Responsible to handle 3 private equity fund’s accounting and investor reporting.
Prepare quarterly income statement, balance sheet, and cash flow statements.
Calculate and book monthly accrued income and expenses.
Review financial statements with clients and explain flux on quarterly basis.
Closely work with auditors to complete year end audits and provide necessary reconciliations.
Draft and generate capital call and capital distribution notices.
Calculate and book all accounting transactions for the funds which includes Management fees, accrued revenue, purchase and sale of investment, capital call and capital distributions.
Prepare bank reconciliation for 7 bank accounts.
Oversea quarter end close process for 2 funds.
Senior Accountant
International American Insurance Company (Consultant) May 2024 –Aug 2024
Calculate and prepare stat journal entries such as Over 90, advance premium, IMR.
Review State Premium tax form.
Prepare Schedule T, Page 19, Loss experience
Review Reinsurance settlement to make sure calculation is based on agreement and approve payments.
Resolve discrepancies with MGA.
Senior Reinsurance Analyst
Prudential Insurance Company (Consultant) June 2023 – Dec 2023
Review newly signed reinsurance agreement and prepare monthly and quarterly settlement worksheet.
Map New GL accounts in reinsurance system so it can auto feed in Oracle for premium, claims, benefits, and reserves.
Calculate Expense allowance Hedging Fee, Revenue share, and commission as per reinsurance agreement.
Prepare novation entry to transfer asset from PLAZ to PALAC entity.
Approve Risk Based Capital Schedule (RBC) Statutory reporting schedule in Oracle
Approve Reconciliations and Pass balances which was uploaded from Oracle.
Senior Accountant
Forvis (agent Blackrock and end client AIG), New York, NY (Consultant) Feb 2023 – Jun-2023
Setting up investment system called PAM.
Reconciliation between Old and New report for several different financial product such as derivatives, annuity, etc.
Setting up AIG’s more than 1000 portfolios and $130 Billion AUM into system called Aladdin and PAM for Blackrock (end client).
Calculating and prepared Journal entries for Deferred Realized and Unrealized gain and loss based on Statutory Accounting and US GAAP standard.
Calculate Interest Maintenance Reserve (IMR) Amortization and verify it in PAM system.
Reconcile Realize and unrealize gain or losses from Derivative products such Swap, option and future contracts.
Calculating and preparing journal entries Amortization and Accretion for US Treasuries and corporate bonds.
Calculating Book yield, and preparing journal entries for monthly accruals.
Account Receivable Manager
NIP Group Inc, Woodbridge, NJ (Consultant) Jan 2023 – Feb-2023
Analyze and approve premium, commission, annual service fee for several different insurance types.
Prepare and post daily cash receipts and disbursement journal entries in Applied EPIC and Sagitta.
Calculate, and prepare journal entries for surplus line tax and stamp fee for several states.
Prepare bank reconciliation.
Interact with underwriter, account handler to verify and premium commission, and taxes.
Resolve billing and payment discrepancies with carriers.
Interact with brokers to verify premium and commission
Sr. Accountant
Finance Plus USA (Subsidiary company of WPP Group), New York, NY May 2021 – 11-2022
Reconciling intercompany account balances and proactively resolve intercompany imbalances to achieve the company's thresholds at month end, utilizing the consolidation reports issued by Group Reporting from the Hyperion consolidation.
Reviewed and approved AP and AR invoices generated in several different currencies.
Preparing and issuing intercompany statements to facilitate the monthly matching procedure with counterparties.
Approved intercompany payments in several different currencies.
Manage, Analyze intercompany balances in ICS system (USD vs. Several different currencies)
Resolve any discrepancies between counter parties
Update financial statements in Cartesis system
Analyze intercompany vendor professional service billing.
Reviewing and approving intercompany invoices
Prepare Journal entry to accrue monthly vender and client billing.
Prepare balance sheet account reconciliation.
Analyze monthly income statement.
Prepare bank reconciliations for 5 bank accounts.
Analyze, reconcile and prepare journal entry for company payroll.
Prepare and analyze all general accounting journal entries.
Calculate and Prepare journal entries to recognize monthly revenue using IFRS 15 and U.S. GAAP accounting principles.
Identified type of asset and depreciation method.
Calculate depreciation and Prepare and approved Depreciation journal entry.
Prepare journal entry dispose of an asset that is sold or destroyed in a casualty.
Maintained Fixed asset for the company.
Conduct periodic review of asset inventory and impaired asset to keep the keep the system up to date.
Sr. Accountant
Arch Insurance Group (Consultant), Jersey City, NJ Oct 2020 - Jan 2021
Process all premium and cash activity for assigned programs
Interact with unit underwriters to verify premium and commission and reinsurance contracts
Update premium receivables for all assigned programs
Process cash received monthly and apply to the open premium receivable worksheet
Follow up with MGA/Producers regarding status of open balances
Process all reinsurance related cash activity and update applicable sub-ledgers
Prepare monthly reconciliation of sub-ledger to general ledger
Correspond with brokers on discrepancies regarding premiums, cash payments, commission differences, etc.
Prepare manual adjustments for quarter close
Produce quarterly P&Ls for respective business assigned
Ensuring that the MGA is in compliance with the Terms of Agency
Prepare Age Receivable Report and Loss experience Report
Sr. Accountant
Integro Insurance Brokers (Consultant), New York, NY Sep 2018 - Oct 2020
Analyze and approve premium, commission, annual service fee for several different insurance types.
Prepare and post daily cash receipts and disbursement journal entries in Applied EPIC and Sagitta.
Calculate, and prepare journal entries for surplus line tax and stamp fee for several states.
Disbursed net premium, surplus line tax and stamp fees to insurance companies.
Prepare bank reconciliation.
Interact with underwriter, account handler to verify and premium commission, and taxes.
Resolve billing and payment discrepancies with carriers.
Interact with brokers to verify premium and commission
Sr. Accountant
Prudential Financial Inc. (Consultant), Newark, NJ May 2017- June 2018
Analyze Net Asset Value (NAV) for hedge, fixed income and real estate funds.
Prepare and Analyze balance sheet and income statement for accuracy on subsidiary companies.
Calculate and Record Asset Management and Incentive fees for PGIM, Jenson etc.. investment funds.
Calculate and record unrealized gain or loss due to foreign currency rates.
Calculate and Allocate income and expense to Prudential company funds.
Calculate and accrue monthly interest from debt and swap interest rate for several CLO deals.
Calculate and record realized and unrealized gain or loss from debt securities for several CLO deals.
Analyze and prepare entries to close subsidiary companies.
Reconcile various balance sheet accounts.
Prepare fixed income P&L statement for senior management.
Record and eliminate monthly net income and equity from affiliate companies.
Analyze trial balance and booked JE to close and settle balances on subsidiary companies.
Prepare several automated worksheets that saved several working hours for the company.
Sr. Accountant
Tower Group Insurance Co (Consultant), Jersey City, NJ Apr 2014- Mar 2017
Calculated and book statutory accounting Journal Entries such as deferred prem and over90 balance due.
Book journal entries for service fee, write off.
Analyzed and reconciled advance premium, deferred premium and over 90 balance due.
Analyzed trends for advance premium, over 90, deferred premium.
Reconciled system to GL balances 3 companies.
Calculated and book premium, commission income (issuing carrier) and commission expense based on agreement.
Settled cash receipt between agency company and issuing carrier
Sr. Accountant
AIG -Reinsurance Accounting (Consultant), New York, NY Dec 2013-Feb 2014
Analyzed quarterly p&l.
Input and reconciled adjusting entries to sub-ledger.
Reconciled income statement and balance sheet account to sub-ledger.
Analyzed trends for cost and revenue.
Prepared reinsurance invoices
Sr. Accountant
Rescare Work Force, Brooklyn, NY Feb 2012-Nov 2012
Responsible for tracking, analyzing and reporting project financial status.
Other responsibilities include monthly general ledger reporting for all operating expenses including payroll and capital expense, monthly projection, annual budget and annual audit.
Analyze Balance Sheet and Income Statement for accuracy.
Analyze Budget vs. Actual Income and Expense variances.
Reconcile ADP Payroll Expense.
Prepare Cost Reimbursable Invoice.
Reviewed and approved all accounts payable and account receivable invoices.
Sr. Accountant
Various Consulting Assignment., New York, NY Mar 2010-Jan 2011
Coface North America and FAPS Inc.
Responsible for month-end and quarterly close process- including but not limited to preparation and reconciliation of financial results and statements under IFRS and Statutory requirements.
Responsible for Quarterly IFRS GAAP package – includes preparation of various .analytics and responding to various questions from Consolidation team
Monthly and quarterly Loss Ratio Analysis including various trending
Monthly and quarterly Unearned Premium Analysis
Reviewing and analyzing inter-company transactions on a monthly/quarterly basis between various US and International subsidiaries
Reviewing and approving various monthly & quarterly balance sheet analysis
Responsible for Reinsurance Accounting and quarterly reinsurance statements preparation
Review bank reconciliations.
· Calculated and prepare journal entries to amortize pre-paid sign on bonus.
Prepared journal entry to split expenses to other department
Sr. Accountant
Clarendon Insurance Group., New York, NY Dec 2007-Nov 2009
Prepared Journal Entry to book production, cash receipt, and adjustments
Prepare quarterly and annual U.S. GAAP/Statutory financial schedules and disclosures for reinsurance balances Performed financial analysis of quarterly key performance.
Prepared Qtr end under writing summary (p&l)
Prepared and analyzed yellow book schedule F, schedule p and page 15
Generate Qtrly reinsurance bill
Project leader in our group to convert data from old to new system which calculate qtr p&l and yellow book sch’s.
Setup direct and reinsurance terms in the PAS and ReAcct system
Performed test for new installed upgrade
Constantly communicated with vendors to resolve any glitches arise from system and to improve the system
Trained new system to coworkers
Created reconciliation excel template.
Prepare and reviewed coworkers under writing summary and reconciliations
Prepared status report for PAS/ReAcct conversion
Directed and coordinated activities of other accountants and clerical workers performing accounting and bookkeeping tasks
Sr. Accountant
Various Consulting Assignment., New York, NY Jul 2006-Nov 2007
GFI Group Inc, Dresdner Bank, Deutsche Bank, New York, NY
Prepared Journal Entry to reverse USA GAAP accounting to IFRS Accounting Standards
Followed sox guidelines to prepare month end schedules
Prepared journal entries to record all activities for broker dealer business
Analyzed Income statement and Balance Sheet to head office based on IAS and German GAAP
File Transaction of US affiliate, With Foreign Parent (BE-605)
Calculated and prepare journal entry to accrue employee benefits such as health insurance, STD, and life ins.
Calculated bonus Accrual for 15 trading desks
Prepared J/E for all cash activities such as purchasing securities, all income and expenses and withdrawals
Followed SOX guidelines to prepare month end schedules
Analyzed P&L for 5 trading desk
Calculated and prepare journal entries to amortize pre-paid sign on bonus.
Prepared journal entry to split broker’s expenses to other desk
Reconciled various suspense accounts
Calculated and prepare journal entry to accrue Severance pay based on their termination agreement
Prepared parts of monthly board report
Portfolio Analyst
Hyperion Capital Asset Management Inc., New York, NY Jan 2006 –Jun 2006
Upload prices to PAM software with different pricing source.
Review performance packages for client.
Process month end closing for all clients.
Prepare and Analyze Asset Under Management.
Senior Accountant
First New York Securities L.L.C., New York, NY May 1999-Jan 2006
Analyzed month end income statement
Calculated unrealized and realized trading gain or loss for firm, trader and individual securities. This includes stocks, currency and derivative products such as option, future contracts, Interest Swaps.
Calculated unrealized and realized Currency trading.
Prepared Journal Entries for all cash activities such as purchasing securities, all inc and exp and withdrawals
Analyzed month end portfolio
Managed month end securities and made necessary adjustment for as of trades
Prepared payroll worksheet for each trader
Prepared bank reconciliations statement for five accounts
Recorded accruals for month end interest, dividend and commission income and expense
Analyzed month end income and expense, commission income and expense and charge to trader and record to General Ledger
Allocated interest income, dividend income and dividend expenses to hedge fund investors
Responsible for Calculating, analyzing and applying month end p&l, dividend, interest income accruals and fees for mutual funds to investor
Analyzed and book month end bond income
Analyzed net income from hedge fund and recorded under main company
Analyzed month end income statement and balance sheet
Handled allocation of expenses to departments and branches
Investment Accountant
International Fidelity Insurance Company, Newark, NJ Feb 1998-Jan 1999
Prepared daily cash sheet to analyze cash on hand and future incoming and outgoing cash, stock market report on lotus spreadsheet, schedule A to file with SEC and report on Microsoft Excel for maturity listing
Made wire transfer to vendors and bank accounts
Prepared Sungard Insurance Accounting Software Package’s Journal Entries for all bank activities and year to date investment activity reports and balance to G/L
Processed all sales and purchases of securities via Invision, First Connect, or Physical Check
Updated Portfolio Value on America Online for Stocks and Options
Monitored all monthly bank statement to book balances in security ledgers and statements from brokers to common, preferred stock, and bond ledger pages
Encoded investment activities to Sungard Insurance Accounting Software Package
Analyzed monthly inforce and unearned premium
Prepared quarterly schedules D, and T
Calculated and file quarterly premium tax return for five states
Processed month end closing.
Education
Bachelor of Science in Accounting
New Jersey City University, Jersey City, NJ 1998
Technical Skills
Software: Maconomy, Sunguard EAS, Mas 90, Oracle 9.0, SAP, Great Plains, Unit4 Coda, Quick books, Peach Tree, Microsoft Excel, Microsoft Word, Microsoft Access, PAS and ReAcct, RDPS, RIMMS, Finance X, Applied EPIC, Sagitta, Benefit Point
Contact this candidate