Sapnil Varia
Luxembourg,LU
Summary
Possessing a valid work permit for Luxembourg.
Dynamic, multi-faceted results-driven Vice President with 18+ years of extensive experience in: -
- Fund Accounting
- Client Services
- Change & Project Management Risk
- Audit & Governance
An astute Leader and a mentor, facilitating multi-disciplinary collaborative working relations to enhance performance and growth of business.
Overview
18
18
years of professional experience
Work History
VP, Fund Accounting Valuations & Oversight
J.P. MORGAN SE
Luxembourg
02.2021 - Current
Core Operations - 'Run the Bank'
Heading local Fund Accounting NAV Oversight & Valuation process, overseeing a team of 20+ people and ensuring seamless NAV deliveries for global clients.
Collaborated with cross-functional teams to identify and resolve organizational challenges, resulting in improved efficiency.
Adept at collaborating with key stakeholders and representing business on senior management forums consisting of Depository, Transfer Agency, Audit, Sales. etc.
Chairing the global functional stakeholder management meetings ensuring alignment of key objectives for the process governance & implementation.
Managing the end to end Fund events i,e. onboarding, incremental business, retention, merger activities.
Transformation – ‘Change The Bank’
Negotiated and closed a major acquisition that resulted in a 2% increase in market share.
25% decrease in error rates, enhancing productivity and accuracy.
Incorporating the structure around pre & post implementation journey of AI tools.
Achieved significant levels of improvement in quality, service, time, and cost.
Client Service & Delivery Management
Providing thought process & solutions on business- transformation initiatives. (e.g., platform
transformation, optimizing reporting programs).
Managed the framework for RFP alongside key metric consolidation & enhancing the KPIs & KRIs of internal processes & client RAG ratings.
Ensured NAV Operations delivery is aligned with JP Morgan Core Operating model & in alignment with client expectations.
Ensuring Client & Internal teams are aligned on key changes implemented as a part of Change/Implementation projects.
Audit, Controls, Risk & Governance
Key SME in heading Internal Audits collaborating with key stakeholders - Operations Risk & Controls, Compliance & Audit.
Syncing up with External Audit companies (Big 4) ensuring the queries are effectively responded to on a timely basis.
Ensuring any findings - internally or externally identified are documented & implemented in the business & thereby running the process effectively.
Managing a specialized team performing Quality Analysis periodically to ensure the process is regulatory compliant from a controls & Governance perspective.
VP, Fund Accounting Delivery Management
J.P. MORGAN
Mumbai
05.2006 - 01.2021
Led pre-NAV functions of Validation, OTC lifecycle events, Corporate Actions, Income event Capture, Trade capture, Capstock & Expenses.
Led cross-functional teams for the successful completion of major projects & process migrations, resulting in increased efficiency and client satisfaction.
Built high-performance teams through effective recruitment practices focused on competency alignment coupled with ongoing performance management processes.
Established NAV delivery team, streamlining daily, weekly, and monthly NAV deliveries for 100+ global clients for Asset Managers & Asset Owners space.
Education
Bachelor in Management Studies (B. M. S) -
University of Mumbai
Mumbai04.2005
Skills
- Oversight and Governance
- Regulatory Compliance
- Client Relationship Management
- Attention to detail
- Decision-Making
- Critical Thinking
- Coaching and Mentoring
- Complex Problem-Solving
- Operational leadership
- Financial Analysis
Professional Milestones
- Transformation (Change) Initiatives
Led successful transition of fund accounting valuations process to advanced technology platform, resulting in 30% reduction in processing time and 25% decrease in error rates, enhancing productivity and accuracy.
Demonstrating advanced understanding of E2E process mapping and streamlining the processes thereby achieving significant levels of improvement in quality, service, time, speed and cost.
Working towards eliminating need for manual intervention in many processes by creating “human to virtual“ journey by building self-care capabilities, standardization, optimization, and automation of processes.
Incorporating the structure around implementation of AI tools i.e. Alteryx, Tableau in reporting deliveries & ensuring periodic review of key data inputs to optimize the output.
- Service Delivery Management
Providing thought-leadership on solutioning approach and tough business-technology transformation initiatives (e.g., platform transformation, regulatory programs, process optimization).
Led New Client onboarding process for 6 clients in last 2 years, ensured NAV Operations delivery is aligned with JP Morgan Core Operating model in agreement with clients in partnership with Client, Implementations & Solutions team & several other internal & external stake holders.
- Team Management
Maintaining strong stakeholder relationships by practicing a two-way communication and interacting and communicating with partners on business/process updates on a regular basis.
As an astute Team Leader and a mentor, facilitating multi-disciplinary cooperative and collaborative working relations to fine-tune performance and further the business objectives.
- Risk, Compliance & Governance
Achieved and maintained regulatory compliance with zero violations over three years, conducting regular audits - both Internal & External to identify and resolve issues, ensuring adherence to industry standards and fostering a culture of governance and oversight.
Implementation of effective oversight & governance over Data analysis, Key metric submissions & enhancing the KPIs & KRIs of internal processes & client RAG ratings.
Key SME in running Internal & External process audits working in tandem with key stakeholders - Operations Risk & Controls, Compliance & Audit team.
Working in tandem with Compliance, Risk & Regulatory teams to ensure that Pass The Book (PTB model) in terms of offshoring is in compliance with CSSF circular 22/811 guidelines & also ongoing conversations around impact of CSSF circular 24/856 which will come into effect from 1st January 2025.
Additional Information
Possess a valid work permit for Luxembourg.
Timeline
VP, Fund Accounting Valuations & Oversight
J.P. MORGAN SE
02.2021 - Current
VP, Fund Accounting Delivery Management
J.P. MORGAN
05.2006 - 01.2021
Bachelor in Management Studies (B. M. S) -
University of Mumbai
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