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Work History

May 2015Present

Part time faculty at Amity Business School (ABS), Amity Uinversity Mumbai

Amity University, Mumbai

Conducts session on Foreign Exchange, Financial Derivatives & Financial Services

Jun 2015April 2015

Visiting Faculty Member - Finance

Chetna's R K Institute of Management & Research

Conduct sessions on Banking, Basel, RBI Circulars, Fixed Income, Derivatives, Forex and Treasury Management.

Dec 2010May 2015

Operational Risk Head - Citi India Affiliates - (Citicorp Finance India Limited & Citicorp Services India Limited).

Citicorp Finance India Limited, Mumbai

CFIL was entrusted with the implementation of Operational Framework for all the affiliates of Citi India except for Citibank in India.  The team has powers to inspect and audit any team/unit of any legal vehicle (LV) in India except for Citibank. 

  • As Operational Risk head, conducted Risk Based Internal Audits which involved detail Process & Proof reviews of various departments like Human Resource Business / Operations, Real Estate Services, Procurement function, Treasury (AAFA & ABF) Department,  Expense Processing function across all Legal Vehicles(LV) for compliance with the External (Regulatory) & Internal  (Citi Policies, Information Security, Continuity of Business) regulations. Suggest & Implement new process enhancements/controls and present the report to Senior Management. The finding were documented in an exhaustive reports covering array of area's and were presented to Unit head, CFO Board of Directors. It was also presented  to the Statutory Auditors in the Semi Annual Audit Committee meetings & also to the RBI Auditors during their regulatory inspection as Operational Risk framework for the LV. 
  • Declaration Monthly Proofing for the LV's & perform a detail Review of all accounts along with its supporting for all the units & document the issues / findings in a Account Review Committee (ARC) Deck. Post that, conduct a centralised Monthly ARC meeting which is attended by the concerned Unit heads, CFO & Senior Management. During the meeting seek the explanations and resolution dates from the concerned unit heads and follow up with them for the closure. Post that circulate the final minutes to the Board of Directors, Senior Management & Financial Controller.
  • As a Citi Certified Account Reviewer, review the Proof submission on the Citi's Regional Proofing platform eRecon against the base papers and check the complete substantiation process for each Proof Maker. Also, check the Segregation of Duties, Independence of Proof Maker & Inconsistencies and other parameters set by the Regional Balance Sheet Substantiation Guidelines. 
  • As compliance to Citi Operational Risk Framework, on Daily basis circulated reconciliation between Front and backend (trial balance) systems; Bank Reconciliation; Transit / Deferred account monitoring MIS's & Override exceptions;

  • Created a robust tracking system for Clearance of  of Account Receivable, Prepaids across all legal vehicles and was successful in having a NIL outstanding by the financial year end.
  •  Quarterly Performed Information Security & Control audits via Inactive Account Review, Contrary Balance Review, Damaged Instrument, Internal & Third Party System Profile Review and Callbacks for balance sheet control.
  • As a Credit Admin Head for CFIL, responsible for the independent valuation & tracking of Treasury Loan Portfolio of INR 2,500 crores (Advance Against Financial Assets-AAFA). Also conducts Weekly Independent Documentation Review  of all the Treasury Products like AAFA, Fixed Income & Funding and Gapping products.
  • As per RBI mandate, as Operational Risk head, half yearly gave  presentation to the Audit Committee meeting on projects and status of operational risk and internal control on the legal vehicle. The participants to these meeting were Board of Directors and Statutory Auditors & CFO.

Projects & Achievements

  • Successfully handled merger of Citicorp Capital Markets Ltd (CCML), Citicorp Credit Services India Ltd (CCSIL) in Jan 2015, Citi Consumer Finance India Ltd (Citi Financial / CCFIL) in Jan 2014,   & Citi Maruti Finance Ltd (CMFL) in Jan 2013 from BSCG perspective.
  • Designed and Implemented an Intranet Portal using SharePoint 2010 platform reducing MIS circulation from 30 to 4 MIS’s with a Data saves of 99%.
  • Implemented Regional Automated Bank Reconciliation Platform for all the Affiliates.
  • Implemented the Regional proofing system across all the Citi Affiliates/LVs.
Apr 2005Nov 2010

Manager - Operations & Risk Head

Citicorp Capital Markets Limited, Mumbai (CCML)        

CCML was a underwriting arm of Citi India. It had a Primary Dealership licence from RBI & also SEBI Underwriter licence from SEBI. It was very active in the Merchant Banking Market and has its own capital for dealing in Gsec & Corporate bond. For Funding the LV used to raise Commercial Paper in case of any requirement over and above its capital for fulfilment of its underwriting commitment.

Merchant Banking Activities

  • Managed 50,000 crores of Primary debt placement during the tenor. It involved facilitation & coordination of the payments from Investors to Issuer, Circulate the MIS on the issue, meeting clients and handling their queries. 
  • Won award for the managing the Indian Financial Markets highest ever Commercial Paper (CP) of 5,000 crores issuance deal.
  • Provided inputs to FIMMDA, NSE, BSE and other SRO for Implementation of exchange based clearing settlement system in India


Loan Syndication Activities :-

  • Supported Citi India Loan Syndication team by doing the balance sheet analysis and preparing the Loan Approval forms of PSU banks for loan sanctions.
  • Prepared an exhaustive MIS on Indian Loan Market for Indian and Foreign currency through data mining. The MIS proved to me a great success in sighting business opportunities to Citi India Franchise.


Risk Management Activities / Product Control Activities

  • Preparation of daily ALM Report for monitoring the liquidity risk & Management Action Trigger 
  • Report, Monthly Trading and Revenue MIS
  • Calculation of VaR & Back testing of VaR for RBI Market Risk reporting
  • Actively involved in setting up Market risk and ALM limits for legal vehicle.


Operational Activities

  • Takes care of the half yearly SEBI audit, NSE audit & RBI audits & other Citi Internal Audits.
  • Actively involved in the formulation of Investment Policy, Product Programs, Operational 
  • Procedures & preparation for Liquidity Package for the Legal vehicle for setting up the internal risk limits within the regulatory framework for the legal vehicle.


Internal Control Activities

  • Conducting Information Security Audits.
  • Complying with Operational Risk framework of Citi India through preparation of MIS, RCSA, 
  • SOX submission and COB Plan.
  • Monthly proofing of accounts.
  • Quarterly Review of Risk Controls by doing sample testing of all the processes.


Projects & Achievements

  • Won an award for the managing the Indian Financial Markets highest ever CP Issuance Deal.
  • Implemented the Regional proofing system - eRecon for Citi India Affiliates & established proofing process for all the Affiliate's
  • Implemented Flexcube Accounting system for Citicorp Service India Ltd (CSIL)
  • Implemented the exchange based Clearing settlement Platform for Corporate Bonds for Citi India (CCML, Citibank & CFIL) with close coordination with NSE, BSE & FIMMDA.
  • Implement Regional Continuity of Business (COB) Track Platform for Citibank NA & Affiliates 
Jan 2004Mar 2005

Assistant Manager - Operations & Market Risk Reporting Head

IDBI Capital Market Services Ltd, Mumbai (PrimaryDealer)

IDBI Capital was the most active standalone Primary Dealership at that time with turnover of over lakh crores at that time. 


Risk Management Activities 

  • Interest Rate Swap Settlements & MIS reporting 
  • Calculation of VaR, Back testing & all Regulatory Reporting. 
  • Daily Analysis Report for the top management encompassing daily activities (security & counter-party wise deals in Government Securities (GSec) & money market deals) & also the daily risk reporting like VaR, Portfolio Duration & other details.


Operational Activities

  • Settlement of GSec, Repo on NDS terminal 
  • Settlement of Money Market Deals - Call Money, Repo & CBLO settlements 
  • Non-SLR & FRB Deals & 
  • Monthly SGL Reconciliation & Daily Bank Reconciliation. 
  • Broker Empanelment & Brokerage payment


Jan 2003Dec 2003

TreasuryOfficer (Dealer)

ApexUrban Co-operative Bank of Maharashtra & Goa Ltd., Mumbai 

Apex Bank was a State level co-operative bank & had around 100 co-operative member banks in Maharashtra & Goa. The Bank used to provide CSGL A/C facility & advise them on managing their investment portfolio.

  • Dealing in Government Securities, debentures / bonds 
  • Daily Fund Management as it was based on underlying activities of 100 member banks
  • Actively involved in Money Market deal like Call & Notice, Repo & CBLO deals.
  • Instrumental in implementing CBLO. Apex was the first Co-operative bank to implement CBLO Platform in India
  • Guidance To Member Co-operative Banks
  • Reporting a Daily MIS of activities along with Market Scenario to the Top Management.

Education

Dec 2002

Certified Treasury Manager (CTM)

ICFAI, Hyderabad

Treasury Management, Foreign Exchange, Risk Management & Derivatives

Apr 1998Mar 2000

Master of Business Administration (MBA) (Finance)

J M Patel Institute of Management, Nagpur

Nagpur University

Apr 1995Mar 1998

Bachelor of Commerce (B Com)

G S Commerce College, Nagpur

Nagpur University

Mar 1995

XIIth - Science & Mathematics

Shivaji Science College, Nagpur

Maharashtra State Education Board

Mar 1993

Xth - State Board

Somalwar High School, Nagpur

Maharashtra State Education Board 

Certifications

Oct 2015Nov 2016

PhD Entrance Test (PET)

Nagpur University - Pursuing

Have successfully cleared the PhD Entrance Exam (PET). 


May 2015Present

Certified Fraud Examiner (CFE)

Association of Certified Fraud Examiner (ACFE), USA - Pursuing

The Certified Fraud Examiner (CFE) is a credential awarded by the Association of Certified Fraud Examiners (ACFE). The ACFE association is the world's largest anti-fraud organisation and premier provider of anti-fraud training and education. Together with more than 75,000 members, the ACFE is reducing business fraud world-wide and inspiring public confidence in the integrity and objectivity within the profession.

Mar 2015

Citi Certified Account Reviewer

Citibank NA
Nov 2009Nov 2009

Six Sigma - Yellow Belt

International Association for Six Sigma Certification
Jul 2002Aug 2002

NCFM - Fixed Income Module

National Stock Exchange, Mumbai
Jan 1999Jul 1999

PG Diploma Advance Computing (DAC)

Centre for Development of Advanced Computing, Pune

The Post Graduate Diploma in Advanced Computing (DAC) is the flagship programme of ACTS.