Kumar Balakrishnan Email & Phone Number

Bengaluru Area, India

General Manager - Finance Compliance from June 2015. With the recent changes in the Indian Accounting Standards and Companies Act, there was an urgent need to focus on getting the changes like IFC (Internal Financial Controls) implemented working with various stake holders. With my deep knowledge and passion for process improvement I would help drive IFC implementation at 3M India. In addition, my responsibilities would include conducting GFS trainings, Conduct Sox reviews and training, Finance for non-Finance, drive compliance (Reconciliations) and continue to monitor and drive compliance around the Employee Payables.

Bengaluru Area, India

GENERAL MANAGER – CORPORATE ACCOUNTING Responsible for providing leadership and guidance on day to day financial reporting for 3M India (Rs 2000 crores) and 3M E&C (Rs.156 crores). I report to the Chief Financial Officer. I manage a team of professionals . I Provide technical expertise and guidance on Local GAAP and US GAAP. I review the monthly financials prior to transmission to Corporate, St.Paul, USA adhering to U.S. GAAP and 3M’s Global Financial Standards (GFS) and procedures. I am also involved in quarterly Sox testing, quarterly and annual GFS compliance, annual insurance review of all property/stocks in accordance with GFS and monthly capital expenditure spends. I also liaise with outsourcing processing team and assist in resolving day to day issues on employee payable claims. I am also responsible for the preparation, review and compilation of annual accounts, schedules as per Indian GAAP. I interact with statutory auditors M/s Price Waterhouse during accounts finalization (yearly and quarterly limited review) . I also interact with internal auditors ACHIEVEMENTS•Implemented the revised travel policies and employee expense claims to meet the controls ad compliance objectives•Ensured process stability and productivity at outsourcing through regular training, weekly calls and dashboards•Developed policies and practices to strengthen the compliance environment in the organization through self-assessment checklist and quarterly Sox testing•Decentralized the existing leasing operations for IT equipment which resulted in tremendous cost savings (Rs4.5 Million) on transportation, insurance and service tax benefits•Improved efficiency and reduced audit cycle time through regular meetings, daily dashboards and timely resolution of outstanding issues•I am nominated as the process champion for implementing Internal Financial Control (IFC) reporting•Also a project team member for implementing IND - AS

Bengaluru Area, India

GENERAL MANAGER – INTERNAL AUDIT Jan 11 – Apr 14Responsible for conducting the Financial & Operational Internal Audit and Controls functions for the two legal entities in India (3M India Limited and 3M Electro & Communication India Private limited) and one entity in Lanka (3M Lanka Private Limited). Also supported regional audits .Reported to the APAC Audit Manager stationed at Singapore and to the Vice President – Internal Audit, St. Paul, USA. I functionally reported to the Audit Committee and administratively to the 3M India Managing Director. The summary of the Internal Audit observations and status of the implementation was submitted to the Audit Committee of the Board of Directors. The types of audit I have handled included – Procure to Pay, Inventory – end to end process, Fixed Assets and impairment, Compensation and Benefit, Billing, Credit and Collection, Customer Service, Pricing, Contract Manufacturing, Ethics and Business Conduct, Primary Internal Control, Import and Export Compliance, Plant Audits, Laboratory, New Product Introduction and Outsource Processing.ACHIEVEMENTS• Conducted training workshops and gave coaching on internal controls, hygiene of financial reporting and compliance requirements • Made presentations to the leadership team with examples on control gaps in employee expense claims• Conducted an investigation audit on a fraud made by a contract employee on the accounts payable process and got appreciation from Global security for the complete and detailed investigation• Conducted investigation on business conduct practices and ethical behavior of certain employees based on business head requests and played a key role in the termination of a few employees for their willful acts • Conducted regular trainings on internal controls, compliance and ethical practices to business groups and also acted as trusted business partner to provide advice and guidance on financial and control related queries

Chennai Area, India, Bangalore Area, India

See detailed job experience below

Bengaluru Area, India

I was the Country Audit Manager responsible for conducting the Financial & Operational Internal Audit and Controls functions for the four legal entities in India – Caterpillar India Private Limited-Power System Division, Caterpillar India Private Limited-Machines Division, Cat Logistics Services India Private Ltd and Cat Commercial Private Ltd. I also supported regional audits .I assisted the Senior Audit Managers in assessing risk inherent in various functions and organizations within Caterpillar enterprise. I was also involved in developing annual program of internal audits to assess adequacy of enterprise controls based on risk assessment, cycle audit considerations, special management requests and judgment of internal audit management. I established scope and objectives of individual audits within annual program, Schedule audit projects and provide advice on selection of staff members to complete projects. I assisted the team in directing execution of audit projects through review and communication of project objectives, periodic assessment of progress and thorough evaluation of audit results including both oral wrap-ups with responsible operating management and written reports to operating and executive management. ACHIEVEMENTS•Supervised Corporate Audit Asia staff members in developing a new revenue cycle audit program for use globally. This program received appreciation from US and Europe•Significant efforts were put into improving the quality and timeliness of audit reports •Participated in cross country audits in USA, Mexico and South Africa and won appreciation from global audit managers•Displayed a strong command of Caterpillar’s teamwork value by providing help to regional team members on various projects

Bengaluru Area, India

INTERNAL CONTROL CO-ORDINATOR (ICC) April 05 – April 07Caterpillar – Asia Pacific RegionI was responsible for providing leadership and clear visibility on Sox compliance across Asia Pacific region – a large geographically diverse region covering 13 facilities in Singapore, India, China, Australia and Indonesia. Providing ample Sox training to process owners and control owners to help them to be successful in meeting Sox testing deadlines. ACHIEVEMENTS• 50+ on-site and off-site SOX trainings covering Caterpillar facilities in India, Singapore, Australia and China• Helped Asia Pacific region achieve 100% SOX compliance for three consecutive years – 2005, 2006 and 2007 during my stint as ICC• Facilitated PwC audits at Singapore and helped in timely closure of audit issues• Unique distinction of representing Asia in the 2007 ICC steering committee to help guide 2007 Sox processes• Helped reduce the number of SAD (Summary of Aggregated Deficiencies) issues to less than 5.• Was the single focal point of contact for all Sox communications across the Asia Pacific region I improved service levels to customers by providing solutions to Sox queries. • Leverage SOX processes to develop best US GAAP business processes and controls• Initiated 6 Sigma projects on SOX related issues to improve SOX controls and lessen SAD issues• Created Matrix on service levels and ensure customer satisfaction levels are maintained• Created a web page in Asia Pacific Division intranet for SOX related matters

Bengaluru Area, India

SENIOR MANAGER – Corporate Accounting Sep 01 – April 05Caterpillar India Private LimitedI was in charge of the Legal entity and Profit Center reporting for the Caterpillar India entity. I managed a team of supervisors and management personnel and their related workload. I set expectations for the team and prioritized works and projects. I analyzed staff provided data for decision making at summary level. I provided technical expertise and guidance I participated in the development and support of business strategies. My job involved communicating effectively within the team and with internal and external customers and data providers and making financial presentations to all levels of management. I served as liaison between customer, team and data providers and manage customer relationships. I submitted monthly financials to Corporate adhering to U.S. GAAP and Caterpillar’s accounting practices and procedures. I also submitted capital asset reporting, parent company inventory, consolidation of forecasting processes such as Rolling Business Management (RBM), Strategic Review Committee (SRC), Executive Office Review (EOR), etcI was also responsible for the preparation, review and compilation of annual accounts, schedules as per Indian GAAP. I interacted with statutory auditors M/s Price Waterhouse during accounts finalization.

Thiruvarur Area, India

ASSISTANT MANAGER – Financial Reporting and Budgeting Jan 00 – Aug 01Hindustan Motors Limited (Earthmoving Equipment Division, Thiruvallur (A Birla Group Company)/ (Caterpillar India Private Limited (CIPL – Machine Division).The primary business activity of the Earthmoving Equipment Division (EED) included manufacturing and sale of heavy earth moving machinery (Quarry and mining trucks – 1035 (Hindustan Branded), 773D, 777D, 777E (2010) and 1035, Wheel Loaders – 2021 (Hindustan Branded) and Backhoe Loaders and distribution of parts. The manufacturing plant is located at Thiruvallur, India (about 40 km from Chennai). Caterpillar Inc. acquired 100% ownership of the Thiruvallur EED facility in 2001.At EED, I was responsible for financial accounting as per Indian GAAP and budgetary control. I was involved in the preparation and compilation of monthly financials for consolidation at Corporate Office. I was also responsible for the preparation and compilation of annual business plan, review and reconciliation of inter-corporate transactions.I was also responsible for the preparation, review and compilation of annual accounts, schedules as per Indian GAAP. I interacted with statutory auditors M/s Price Waterhouse during accounts finalization.

Thiruvarur Area, India

SENIOR ACCOUNTS OFFICER – In charge of Financial Reporting and Budgeting. Jan 96 – Dec 99Hindustan Motors Limited (Earthmoving Equipment Division, Thiruvallur (A Birla Group Company)I was responsible for the preparation and compilation of monthly financials – Production and Sales statement, Balance Sheet, Financial Position, Profit & Loss Account, Cash Flow and Fund Flow statements and Capital expenditure statement.I was also involved in the preparation and compilation of Annual Budget statements, preparation of revised estimates and long term projections of financials for Board review. I was also responsible for monitoring of capital expenditure statement vis-à-vis institutional funding. Managed the preparation and compilation of annual accounts schedules and yearly income tax statements and tax audit reportI represented the Division and independently finalized the division accounts as per Indian GAAP at Birla Head Office, Kolkata

Chennai

ASSISTANT MANAGER – Business Advisory Services Jun 1993 – Dec 1995Price Waterhouse, Chennai I specialized in internal audits, Business Advisory services and due diligence audits. I was responsible for drafting audit programs and internal control questionnaire for various audits. I performed statutory audits and tax audits of several medium and high sized companies covering various industries like automobile, paints and chemicals, fibers, heavy engineering, consumables, shipping and petrochemicalsI also performed internals audits and process reviews in inventory, fixed assets, purchases, payroll and cash management for various medium and high sized companies. My job also included doing resource planning, coordinating with the audit teams and liaisoning with clients. Review of audit working papers and audit findings, compiling audit notes and report and finalizing with Partners

Bachelore Of Science ( Mathematics), Mathematics

Activities and Societies: NSS - National Service SchemesI have participated in NSS (National Service Schemes) programs in College and have.

Bachelor Of Mathematics At Loyola College ( Affiliated To Madras University), Mathematics, Physics And Chemistry, First Class With Distinction

I have participated in quizzes and science exhibitions during my school days and have won certificates of appreciation and merit