Summary
Overview
Work History
Education
Skills
Accomplishments
Interests
Personal Information
Timeline
Generic

Ajit Singh

Regulatory and compliance reporting - Capital account transaction
Mumbai,Maharashtra

Summary

Experienced professional dedicated to driving success in a growth-oriented institution. Committed to strengthening the banking financial system and pursuing career advancement. Focused on making a meaningful impact through contributions. Seeking a challenging position aligned with professional goals and values.

Overview

18
18
years of professional experience
3
3
Languages

Work History

AVP Regulatory Reporting Services

HSBC
Mumbai
09.2020 - Current
  • Ensuring compliance with FEMA regulations and guidelines by conducting regular audits and reviews of financial transactions and financial transactions and processes.
  • Review of ODI document related to initial, subsequent outward remittance transaction, Bank guarantee, corporate guarantee, performance guarantee and miscellaneous ODI query.
  • Reporting of ODI transaction i.e. initial, subsequent and guarantee in timely manner on RBI portal.
  • Review of APR(Annual performance report) of JV/WOS and subsequently reporting such as OPI , disinvestment and other ODI reporting to RBI.
  • Liaising with client and relationship manager towards resolution of discrepancy related to ODI transaction.
  • Developed and implemented internal controls, policies, and procedures to mitigate risks associated with foreign exchange transactions.
  • Collaborated with internal stakeholders to assess the impact of regulatory changes on business operations and implemented necessary adjustments.
  • Monitored and analyzed changes in FEMA regulations, keeping the organization updated on new compliance requirements.
  • Acted as a point of contact for inquiries and requests from the RBI, providing timely and accurate responses and facilitating open communication channels.
  • Project profile reconciliation and liaising with RBI official for necessary changes in client project profile and for seeking prior and post facto approval from RBI in respect of contravention application submitted by client.
  • Submission of monthly data to concurrent auditor and circulation of ODI related MIS with business manager.
  • Conducted training sessions and workshops for RMs/CSMs to promote awareness and understanding of FEMA ODI regulations and compliance obligations.
  • Handling of new and revised ECB (external commercial borrowing) document.
  • Calculation of AVM and liaising with Treasury team for arriving at permissible AVM in line with FEMA regulation.

Manager Payment services

HSBC
05.2018 - 08.2020
  • To Ensure all RTGS/NEFT request are technically verified before processing in core system.
  • Ensuring correct and timely authorization of RTGS/NEFT/IAT request.
  • Ensuring generation and broadcasting of all MI reports within agreed TAT.
  • Record balance of all relevant suspense account and reporting to all stakeholders as per the process.
  • Coordination with vendor team with regard to timely completion of assigned activity and preparation of vendor error tracker for analysis purpose.
  • Liaising with IT team during system downtime and ensuring timely resolution.
  • Periodic review of process notes and ensure to update process note with any proposed changes.
  • Conducting of daily team meeting and addressing of grievances.
  • Ensuring of all internal training is completed on time for all time members.
  • Preparation of team roster and taking team appraisal of team members.
  • Participation in UAT testing and completion of assigned project within TAT.
  • Monitoring and processing of NSE/BSE transaction and liaising with NSE/BSE for timely processing of NSCCL payment.

Assistant Manager, Remittance Operation

HSBC
Mumbai
05.2014 - 05.2018
  • Processing of inward remittance i.e MT103 and transaction related to third bank through NEFT or RTGS mode as per FEMA guideline.
  • Processing of HSBC customer transaction as per FEMA guideline.
  • Purpose checking of inward MT103 transaction in line with FEMA guideline and also following sanction checklist for countries along with sanctioned entity.
  • Creation of GPI cases (Swift message) for purpose clarification and sending MT199/999 message to remitting and beneficiary bank in order to ascertain the permissibility of the payment as per local regulation.
  • Broadcasting of high value RTGS payment to treasury team.
  • Preparation of daily MIS related to vostro transaction data ,FIRC , Masterfile for GPI cases pending for purpose clarity and monthly reporting of MIS pertaining to processed inward transaction along with purpose code to auditors for further reporting to RBI.
  • Review of purpose of MT199 swift message received from remitting bank and processing the payment in line with FEMA guideline.
  • Handling of MT110 i.e overseas instrument cases and processing the payment in line with FEMA guideline.
  • Preparation of BDC file related to recovery of processing charges and return payment charges.
  • Actioning of mail pertaining to vostro remittance and liaising with RM as well as remitting and beneficiary bank for processing of the payment in line with extant FEMA guideline.

Senior Fraud Prevention Associate

HSBC
12.2012 - 05.2014
  • To effectively manage fraud risk operation through regular review of credit and debit card transactions.
  • Ensure accurate and timely actioning of each suspect case created by respective decision support system.
  • Analysing cases individually and discuss with peer group to pick up trends that would require changes to parameters and assist in immediate implementation of the same to ensure minimum exposure to the bank.
  • Inspecting fraudulent transaction, taking independent decision as per customer profile and classification of risk country wise.
  • Consistently evaluating operational processes, best practices and working towards improving operational efficiency of the fraud prevention/monitoring processes.
  • Handling dynamics of 24
  • 7
  • 365 environment.
  • System knowledge of Falcon and SAS.

Customer Care Associate

HSBC
Mumbai
11.2007 - 12.2012
  • Handling incoming call related to customer queries and complaint related to credit card product and bill payment.
  • Providing resolution to customer complain within TAT.
  • Ensuring follow up and liaising with concerned department.
  • Have also worked with sales fulfilment unit and was mainly responsible for sourcing variety of credit card product such as Balance transfer, loan on phone, cash on emi , card upgradation to prospective customer.

Education

MBA - Finance

Annamalai University
Mumbai, India
04.2001 -

Bachelor of Science - Chemistry

Thakur Collecge of Science And Commerce
Mumbai
04.2001 -

Certificate - Human Resource Management

Welingkar College
Mumbai
01-2011

FEDAI And JAIIB Certification

IIBF
Mumbai

Skills

Effective internal communications

Risk mitigation strategies

Operational efficiency management

Overseas investment FEMA guideline specialist

Accomplishments

  • Recognized with sales star of the month in 05/2010.
  • Have been rewarded with trailblazer award for handling MT110 project in 2015.
  • Have been awarded with dynamo award in 2019 for successful completion of UAT project pertaining to auto mailer to HSBC customer for local NEFT/RTGS payment thereby eliminating dependency on vendor and cost saving to the bank.
  • Awarded with dynamo award in 2021 and 2025 for quick transition into regulatory role and seamless execution of complex ODI transaction, timely reporting to RBI and efficient handling of concall with High net worth client from retail, global and commercial banking.
  • Awarded with COO star award in 2023 for effective implementation of revised ODI regulation and execution of complex ODI transaction in seamless manner.

Interests

Playing cricket
Listening to music
Travelling
Volunteering for social welfare activities

Personal Information

Marital Status: Married

Timeline

AVP Regulatory Reporting Services

HSBC
09.2020 - Current

Manager Payment services

HSBC
05.2018 - 08.2020

Assistant Manager, Remittance Operation

HSBC
05.2014 - 05.2018

Senior Fraud Prevention Associate

HSBC
12.2012 - 05.2014

Customer Care Associate

HSBC
11.2007 - 12.2012

MBA - Finance

Annamalai University
04.2001 -

Bachelor of Science - Chemistry

Thakur Collecge of Science And Commerce
04.2001 -

Certificate - Human Resource Management

Welingkar College

FEDAI And JAIIB Certification

IIBF

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Ajit SinghRegulatory and compliance reporting - Capital account transaction