Umesh Mahadik
Cost Controller – Maersk | R2R, General Ledger & Payroll Accounting | IFRS | SAP • Oracle • Blackline • Power BI | $13M+ Cost Savings
- Role
- Cost Controller at A.P. Moller - Maersk
- Location
- Pune, MH, IN
- LinkedIn followers
- 500 followers
About Umesh Mahadik
Senior Finance Professional with 14+ years driving Record-to-Report, General Ledger, and…
Experience
Cost Controller
Mar 2023 — Present · Pune, IN
Part of the 2M Controlling & Gemini project team, responsible for managing large-scale Record-to-Report (R2R) and General Ledger operations, driving cost optimization, reconciliations, and analytics across $700M+ monthly vessel-sharing costs.Manage $700M+ monthly operating costs (bunker, port, canal, TC) under the 2M vessel-sharing alliance as part of the Record-to-Report (R2R) process.Achieved $13M+ cost savings through vessel-sharing cost allocation and optimization, improving overall profitability.Cleared $250M+ reconciliation backlog by resolving complex General Ledger (GL) variances and strengthening intercompany controls.Built Power BI dashboards for Gemini prorate analytics, variance analysis, and slot cost tracking, enhancing financial reporting visibility.Automated reconciliations, accrual postings, and allocation models (Excel VBA), improving month-end close efficiency by 20%.Partner with MSC & internal Maersk teams to lead intercompany accounting and settlements, ensuring IFRS and SOX compliance.Supported audits by delivering accurate reconciliations and controls, enabling a 20% faster close cycle with zero compliance issues.Key Achievements & AwardsExtra Mile Award: Cost saved of $13M by analyzing bunker consumption of idle vessels, enabling strategic resource reallocation.Extra Mile Award: Accelerated IMO settlement processing via an Excel‑based Scrubber TC analysis tool.Champ of the Month: Achieved for completing 2022 settlement targets through precise service‑level cost allocation postings.
Education
Institute of Cost Accountants of India
CMA, Cost and Financial Management
AKVS Satara
10th Std
Dhananjayrao Gadgil Commerce College, Satara
Bachelor of Commerce (B.Com.), Commerce
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