Leaders

Finance, an ever-evolving function is often at the centre of busi­ness growth. Finance leaders thus need to not only work with stringent guidelines, but must also anticipate and align with future trends. Acing this balance with grace and finesse is Chhaya Palrecha, an experienced finance leader with almost three decades of deep industry expertise.

A qualified CA and a purpose-driven entrepreneur, Chhaya is an Independent Director at Universal Sompo General Insurance. She chairs the Audit Committee and is an active member of four other board committees. Capitalizing on nearly 28 years of experience across strategic financial positions across multi-location and venture-funded enterprises, Chhaya continues to combine deep technical expertise with strategic approach to governance, team mentorship, and long-term value creation.

Hard-work and persistence are deeply embedded values that drive Ch­haya’s journey. From qualifying as a CA at 24, stepping into the role of a CFO at 26, and contributing through governance board positions at 40, she has done it all.

Moving forward, Chhaya is focusing on purpose-led ventures that aim to empower and support the Indian farmers and youth.

Take us through the formative years of your life. Which key influenc­es shaped your life’s trajectory?

Being born in Mumbai and raised in Pune, I developed a multifaceted ap­proach to learning early on. As a child, I combined academic rigor with creative exploration, painting, cooking, and designing fashion projects, organising fetes pulling huge crowds.

This blend of discipline, creativity, and curiosity laid the groundwork for my professional journey, which spans 28 years as a CA and several in­ternational qualifications.

Though I pursued a career in Chartered Accoun­tancy, my early love for fashion and design hinted at an alternative path. However, I was a math enthusiast, naturally drawn towards theorems.

Exploration of computers around 1991 marked the start of my engagement with emerging technologies. Computer formats back then were very different. I formally trained in the tools and applied them early on, helping with my father’s real estate accounts. By 17-18, I was already developing a foundation in finance and tax planning, a base that shaped my future career.

Take us through your journey to acing Chartered Accountancy? How did the initial years of your career progress?

In my early years, I explored many interests, but my mother ensured that I prioritized education above all. With her encouragement and my strong interest in numbers, I gravitated toward finance and naturally progressed into Chartered Accountancy.

Still, turning intent into achievement required more than just aspirations as it demanded focus, persistence, and the ability to execute. It was my husband, then a friend, who instilled in me the belief that I could succeed. His confidence in me was a turning point for me. In 1998 at 24, I qualified as a Chartered Accountant while balancing both personal and academic pursuits.

When I look back, the journey to becoming a CA be­came a springboard for continuous learning. I began my career by leading finance at just 26, which gave me a strong foundation in accounting, costing, and finan­cial management.

As I grew, I expanded into diverse industries, gaining exposure in finance. I strength­ened my expertise while handling ERP implementa­tion and debt fundraising to forex management, ven­ture capital, and corporate governance.

How has your leadership journey progressed? What key leadership roles have you played over the years?

Stepping into a leadership role in finance at 26 meant managing professionals far more experienced than I was. Having to deal with much older team members, I understood the importance of leading with humility.

Instead of pushing change for the sake of it, I prioritized trust, valuing existing talents, and aligning with those who shared the organization’s ethics and goals. Instead of restructuring for the sake of change, I identified strong talent, retained them, and created systems that empowered people to perform consistently.

A decade ago, I stepped into the shoes of an in­dependent director, a role that expanded my under­standing of governance. It gave me the power to up­hold and influence governance at a strategic level. I have worked with unwavering dedication to embed transparency, accountability, and objectivity into my decision-making.

What inspired you to establish Moneynomy Advisors? What is the underlying idea and vision behind the venture?

After spending almost two decades across industries and building an in-depth understanding of finance, I felt the need to create broader impact. This vision became the grounding force behind Moneynomy. It is a platform that helps companies strengthen financial decision-making, implement scalable systems, and design MIS that truly add value.

At Moneynomy, we deliver clarity on executive summaries, actionable insights, and detail where needed. We work on redesigning financial system, training teams, while embedding governance and compliance at every step. We help companies antic­ipate risks, manage liquidity cycles, and meet the ex­pectations of investors with confidence.

You are currently an Independent Director at Universal Sompo General Insurance. What re­sponsibilities does the role entail?

When I joined the Universal Sompo Board in August 2020, the company was navigating the global pan­demic alongside a major management transition. It was a time when shareholders wanted to strengthen the board with experienced independent directors. I joined the board along with two other independent directors.

My current role sees contribution through com­mittee leadership because real governance happens not only in board meeting but within its committees too. Over the past five years, I have chaired the audit Committee and also been an active member of the NRC, Technology Strategy Committee, Reinsurance Committee and CSR, ensuring deeper oversight and accountability beyond the boardrooms.

As a leader in finance, what challenges do you encounter? How do you navigate through them?

I often describe leadership in finance as wearing a crown of thorns. Challenges are inevitable, whether in finance, costing, or systems. I have transformed my team into professionals who are capable of running independent costing models. Consistent training, grooming, and upskilling are at the core of their transformation.

I believe in creating governance and compliance systems that inspire trust and can function on their own. I navigate the path of growth and leadership through discipline and continuous learning. Each day, each month, each year, you must upskill, adapt, and improve. These small steps create a big wave of change and sustain momentum in a dynamic business world.

How is the Indian business finance landscape evolving? Which industry trends and innovations will define the industry’s future?

Artificial Intelligence is reshaping industries and is automating processes across sectors like HR, supply chain, and finance. However, I believe that the future of work will not be machine-driven alone. While repetitive tasks are being automated, roles that require judgement, empathy, and strategy will remain deeply human, ensuring people stay at the heart of business.

Our power lies in taking control of our adaptability. Critical roles like finance and leadership will always require human intelligence. Therefore, continuous learning and reskilling have become vital for success.

Looking back, which key milestones or achieve­ments stand out in your journey? What is your vi­sion for the future?

I am fortunate enough to recognize that each phase of my career has been a milestone; qualifying as a Chartered Accountant at 24, stepping into a CFO role by 26, and later contributing through governance board positions at 40.

A new milestone is into making as I have invested in a startup dedicated to creating fairer market oppor­tunities for farmers. Farmers face deep inequities, pro­ducing tirelessly to receive only fraction of the value that reaches consumers, is disheartening and morally wrong.

My initiative aims to directly link farmers and consumers. My current focus is on ventures where fi­nancial returns are secondary to impact. My purpose lies in fostering sustainable models generating both social good and economic resilience.

I am drawn to address the gap in professional education for the younger generation. It is not only about access, but about awareness and preparing them for real opportunities in the workforce. Such efforts create individual empowerment, fuel national growth, and ultimately strengthen social equity.

Chhaya Palrecha, Independent Director, Universal Sompo General Insurance

Gaining momentum through a career spanning nearly three decades in finance and governance, Chhaya Palrecha has built a reputa­tion for steering organiza­tions through growth and transformation. Serving as an Independent Director at Universal Sompo General Insurance Co. Ltd, she brings justice to every role that she undertakes. Chairing the au­dit committee, she leverages her deep expertise in compli­ance, MIS, and financial strategy.