Ritesh Prasad

Ritesh Prasad Email and Phone Number

Financial Reporting Manager, IVE Group @ IVE Group
australia
Ritesh Prasad's Location
Greater Sydney Area, Australia
Ritesh Prasad's Contact Details

Ritesh Prasad personal email

n/a
About Ritesh Prasad

Over 15 years of accounting, tax and leadership experience gained from working in three (3) major international organisations: Westpac, Mercer and QBE.Broad accounting experience in both management and financial reporting. This includes month end reporting, executive and Board reporting, planning and reforecasting (including capital planning and cash-flow forecasting), financial statements (stand-alone and consolidated), technical accounting papers, and state government and APRA reporting.Stakeholder management – senior management, company board, business units, Group Finance, Group Investments, actuarial, PWC (external auditors), APRA, and WorkCover NSW. Manage, coach and develop five (5) onshore accountants, and eleven (11) offshore accountants.Key achievements in the last five years: acquisition of Hang Seng General Insurance in 2012, assessment and implementation of APRA’s new capital standard in 2013, QBE transformation project in 2013, sale of QBE’s agency entities to Steadfast in 2015, and trainer at the Financial Services Accountants Association.

Ritesh Prasad's Current Company Details
IVE Group

Ive Group

View
Financial Reporting Manager, IVE Group
australia
Website:
ivegroup.com.au
Employees:
620
Ritesh Prasad Work Experience Details
  • Ive Group
    Financial Reporting Manager
    Ive Group May 2016 - Present
  • Qbe Insurance
    Financial Reporting Leader
    Qbe Insurance Dec 2009 - Apr 2016
    Sydney, Australia
    Accountabilities/Responsibilities:• Achieve unqualified audit opinion on financial statements, and regulatory returns.• Completion of stand-alone and consolidated general purpose financial statements of QBE's insurance and agency entities operating across Australia, Asia and Pacific.• Completion of Australian Prudential Regulatory Authority (APRA) returns for QBE's general insurance, lenders mortgage insurance and life insurance business.• Oversee reporting of QBE's management… Show more Accountabilities/Responsibilities:• Achieve unqualified audit opinion on financial statements, and regulatory returns.• Completion of stand-alone and consolidated general purpose financial statements of QBE's insurance and agency entities operating across Australia, Asia and Pacific.• Completion of Australian Prudential Regulatory Authority (APRA) returns for QBE's general insurance, lenders mortgage insurance and life insurance business.• Oversee reporting of QBE's management services entity that employs Australian staff and manages their employee benefits. The entity also manages fixed assets, and property lease arrangements. • Group and local Board reporting of divisional results.• Monthly state government reporting of NSW and Victoria Workers Compensation managed schemes.• Month end accounting, e.g. investment accounting, insurance loss reserving, booking of unclosed business, earnings adjustments, expense accruals, employee benefit provisioning, etc.. • Tax returns, BAS and PAYG returns.• Yearly ICAAP (Internal Capital Adequacy Assessment Process) planning for the Board (an APRA requirement).• Manage five (5) direct on-shore qualified accountants, and eleven (11) off-shore accountants in Manilla shared service centre.• Build relationship with internal and external customers/stakeholders (e.g. Actuaries, Group Finance, Group Investment division, PWC, NSW Workcover, APRA, etc).• Adhoc/project work (e.g. acquisition accounting on QBE’s purchase of Hang Seng General Insurance Limited in 2012, set up of QBE's Manilla Shared Service centre in 2013, disposal accounting of QBE’s sale of subsidiaries in 2015, technical accounting papers, e.g. capitalisation of new system). Show less
  • Qbe Insurance
    Team Leader
    Qbe Insurance Apr 2008 - Dec 2009
    Sydney, Australia
    Accountabilities/Responsibilities• Achieve unqualified audit opinion on financial statements.• Completion of general purpose financial statements and APRA return of QBE Insurance (International) Limited [QBEI].• Tax calculations and Australian Tax Office returns required for the Australian element of the QBEI legal entity.• Coordinating the production of the quarterly consolidated group reporting packs, summary analytics by entity (for all entities in APNZ Division), and other… Show more Accountabilities/Responsibilities• Achieve unqualified audit opinion on financial statements.• Completion of general purpose financial statements and APRA return of QBE Insurance (International) Limited [QBEI].• Tax calculations and Australian Tax Office returns required for the Australian element of the QBEI legal entity.• Coordinating the production of the quarterly consolidated group reporting packs, summary analytics by entity (for all entities in APNZ Division), and other specified group reporting requirements for Asia, Pacific, and NZ entities (e.g. BMI to Longview reconciliation, inter-company, etc).• Provide FX Quarterly and ongoing hedging recommendation analysis for APNZ entities.• Build and maintain relationship with internal and external customers/stakeholders (e.g. Actuary, Group Finance, HO accounting staff, Regional FC, country staff, GID, RI Admin, PWC, APRA, etc).• Manage and coach an Assistant Financial Accountant.• Other work / adhoc requests and projects. Show less
  • Qbe Insurance
    Senior Management Accountant
    Qbe Insurance Jan 2006 - Apr 2008
    Sydney, Australia
    Accountabilities/Responsibilities• Consolidation and reporting of APNZ country results.• Preparation of Blue Book (detailed monthly reporting pack with executive summary) for Regional Managers and Senior Executives (including CFO and CEO). • Completing Board reports for Regional Managers (APNZ).• Coordinating and consolidating APNZ budget and reforecast.• Reviewing and rating country audit files.• Completing quarterly analytics for auditors and management (explanation of… Show more Accountabilities/Responsibilities• Consolidation and reporting of APNZ country results.• Preparation of Blue Book (detailed monthly reporting pack with executive summary) for Regional Managers and Senior Executives (including CFO and CEO). • Completing Board reports for Regional Managers (APNZ).• Coordinating and consolidating APNZ budget and reforecast.• Reviewing and rating country audit files.• Completing quarterly analytics for auditors and management (explanation of P&L movements by country and region).• Project Managing QBE International Transfer Pricing Project.• Managing Head Office charges and Reinsurance premium recoveries.• Maintaining relationships with country finance, actuaries, senior management, etc.• Automating processes by introducing Financial Information System (FIS) - a MIS system similar to Hyperion but with customised functionality.• Managing and coaching an Assistant Accountant. Show less
  • Mercer Human Resource Consulting
    Management Accountant
    Mercer Human Resource Consulting Jul 2001 - Jan 2006
    Sydney, Australia
    Accountabilities/Responsibilities• Preparation of monthly management reports (including summary commentary) to Executive General Managers in Australia, Singapore and USA.• Month end accounting (income and expense journals eg. work in progress, accruals, bonus provisions, and reviewing of expenses, etc).• Projection each week of monthly fee income.• Preparation and updating of monthly Business Unit reforecasts.• Preparation of annual Business Unit budgets.• Reconciliation… Show more Accountabilities/Responsibilities• Preparation of monthly management reports (including summary commentary) to Executive General Managers in Australia, Singapore and USA.• Month end accounting (income and expense journals eg. work in progress, accruals, bonus provisions, and reviewing of expenses, etc).• Projection each week of monthly fee income.• Preparation and updating of monthly Business Unit reforecasts.• Preparation of annual Business Unit budgets.• Reconciliation of designated balance sheet accounts (including work in progress, and inter-office for Singapore, UK, US and Marsh McLennan (our parent company)).• Quarterly reporting and variance analysis to Global US Head Office on Mercer’s information technology expenses and NERA Balance Sheet and P&L (US GAAP). • Settlement of inter-company accounts.• Build relation with Executive General Managers.• Answer queries from management, Corporate Finance colleges (in Australia, US, Singapore and the UK), and both internal and external auditors.• Credit card payment control.• Special ad-hoc projects, e.g. yearly insurance renewal, Sarbanes Oxley Project (internal audit of Mercer Trust contracts) and assist management with business proposals/modelling. Show less
  • Westpac
    Management Accountant
    Westpac Nov 2000 - Jul 2001
    Sydney, Australia
    Accountabilities/Responsibilities• Monthly P&L and commentary on variance analysis. • Monthly Balance Scorecard to Managers.• Month end journal processing and balance sheet reconciliation.• Analyses of project spend to budget.• Planning expenses/income (cost recharges) by liasing with Business Units/ Managers.• Budgeting & pricing of Information Technology costs.• Managing and coaching staff.
  • Westpac
    Analyst
    Westpac Jul 2000 - Nov 2000
    Sydney, Australia
  • Westpac
    Assistant Management Accountant
    Westpac Aug 1999 - Jul 2000
    Sydney, Australia
    .
  • Westpac
    Accounting Officer / Analyst
    Westpac Aug 1998 - Aug 1999
    Sydney, Australia
  • Australian Guarantee Corporation
    Personal Lending Officer
    Australian Guarantee Corporation Jul 1997 - Aug 1998
    Sydney, Australia

Ritesh Prasad Skills

Financial Reporting Financial Analysis Financial Accounting Financial Modeling Coaching Management Team Leadership Oracle Hyperion Essbase Tm1 Business Analysis Mergers And Acquisitions Presentations Business Planning Process Improvement Cognos Microsoft Excel Team Motivation Smartview Business Patnering

Ritesh Prasad Education Details

Frequently Asked Questions about Ritesh Prasad

What company does Ritesh Prasad work for?

Ritesh Prasad works for Ive Group

What is Ritesh Prasad's role at the current company?

Ritesh Prasad's current role is Financial Reporting Manager, IVE Group.

What is Ritesh Prasad's email address?

Ritesh Prasad's email address is ri****@****qbe.com

What schools did Ritesh Prasad attend?

Ritesh Prasad attended Institute Of Chartered Accountants In Australia, Securities Institute Of Australia, University Of Western Sydney.

What skills is Ritesh Prasad known for?

Ritesh Prasad has skills like Financial Reporting, Financial Analysis, Financial Accounting, Financial Modeling, Coaching, Management, Team Leadership, Oracle, Hyperion, Essbase, Tm1, Business Analysis.

Who are Ritesh Prasad's colleagues?

Ritesh Prasad's colleagues are Gavin Wallis, Poling Chan, Jodi Mcfarlane, Michael Paganoni, Donatella Zennaro, Richard Bui, Douglas Marques Cardozo.

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