Uday P. Varte

Strategic "Change the Bank" (CTB) specialist modernizing risk infrastructure and automating financial reporting for Global Backtesting team. Worked on project in migrating legacy P&L calculation engines to cloud-based architectures ( Snowflake ) and developing automated backtesting frameworks. Directed end-to-end P&L and Risk reporting for EMEA entities , ensuring 100% accuracy in regional disclosures and managing cross-border data reconciliation for senior leadership.

• Infrastructure Migration: P&L Calculation Logic, Risk Reporting, Data Integrity & Reconciliation. Legacy-to-Cloud Migration (Snowflake), Database Schema Design, ETL Pipelines.
• Process Automation: CTB Project Lifecycle, Stakeholder Management, User Acceptance Testing (UAT). Automated Backtesting Frameworks, CI/CD for Finance, Regression Testing.
• P&L Attribution: Developed controls to ensure quality analysis of daily attribution reports with decomposed P&L into market drivers, Greeks, and new trades, reducing reporting discrepancies.
• Risk (VaR) Simulation: Conducted rigorous backtesting of Value-at-Risk (VaR) models against actual P&L to identify breaches and ensure regulatory compliance. Executed historical and hypothetical stress tests to quantify portfolio exposure during extreme market volatility, providing key data for capital allocation.
• Stakeholder Management: Collaborated with Product Control and Risk Analytics teams to explain P&L volatility and validate the accuracy of internal pricing models.

Experienced Finance Professional and SME specializing in the financial integrity and risk-control oversight of complex global trading books. Proven leader of high-performing, multi-grade teams, dedicated to ensuring precise P&L attribution and balance sheet substantiation under international accounting standards. Expert at bridging the gap between front-office trading activity and back-office financial reporting to drive institutional excellence and regulatory compliance.

• Team Leadership: Direct a seven-member multi-grade team (including 2 Directors) overseeing Credit-Corporates, EM-Credit, and Match book Repos.
• P&L & Business Support: Deliver daily P&L reporting, commentaries, and ad-hoc analysis for Bonds, Derivatives, Loans, and Repo portfolios.
• Financial Control & Sign-off: Reconcile and sign off Net Revenue and Balance Sheet accounts monthly under US GAAP and UK GAAP standards.
• Automation & Efficiency: Utilize Alteryx, Tableau, and VBA to standardize P&L processes and build robust, automated control frameworks.
• Subject Matter Expertise: Serve as the global SME for Intercompany break reconciliation and complex credit-business accounting.
• Change & Compliance: Drive Continuous Improvement initiatives while ensuring strict adherence to global risk and control guidelines.

Significant Accomplishments:

• SPOT AWARD: ED nominated quarterly appreciation for resolving 200+ breaks post renovation. JUL – 2023
• DOING THE RIGHT THING - Individual: Quarterly recognition award for outstanding individual performance DEC – 2022

• Team Leadership: Lead a two-member team managing daily T+1 P&L for Fixed Income, Structured, Flow, and ABS portfolios.
• Core Controls: Execute critical FOBO reconciliations, P&L attribution, adjustment substantiation, and Actual vs. Flash variance reviews.
• Balance Sheet Integrity: Accountable for monthly balance sheet substantiation, reconciliation packs, and financial statement sign-offs.
• Regulatory SME: Serve as the Subject Matter Expert for IFRS and Japan FSA reporting, specializing in FAS 166/167 and VIEs.
• Capital Analytics: Deliver fair value and maturity reporting for credit derivatives to support Treasury and Leverage Ratio calculations.
• Stakeholder Management: Partner with Traders and Onshore teams to optimize workflows and enhance communication across global business units.

Significant Accomplishments:

• Global Finance – Jury Award: Newly introduced category in yearly recognitions awarded by panel of Finance leads out of all individual awardee in year 2015. JUL – 2015
• FINNACLE: Awarded as best employee of the month for generating 0.6 FTE save using automation tools. MAR – 2015
• FINNACLE: Awarded as best employee of the month for outstanding performance in daily P&L production during attrition. JUL – 2014

Relates to Mortgage Industry of USA where reviewing, purchasing and executing funding instruction for these closed Resident home loans which compliance to Fannie Mac (FNMA), Freddie Mac (FHLMC) & Government National Mortgage Association (GNMA) guidelines for Federal Home Administration (FHA) and Veterans Affairs (VA) with Third Party Originator “CITI Mortgage Inc”, Cincinnati.

Significant Accomplishments:

STAR of the Month: Awarded as outstanding employee in Team APR – 2010, MAY – 2010, SEP – 2010