Summary
Overview
Work History
Education
Skills
Personal Information
Awards
Custom Section
Timeline
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Ajith Prakash

Ajith Prakash

Chennai

Summary

To take up a global challenging Career grows with honesty, loyalty, good relationship and best performance and translate my experience, knowledge, skills and abilities into value for an organization. Offering 15+years of experience in the field of middle office - expertise on Trade and Sales Support Function of Fixed Income and Equity Products. Managed Cash Equity, Equity Derivatives, Commodities, Cash Bonds, Repo, FX across all global regions from APAC, EMEA and US. Dominant knowledge on all stages of life cycle of Middle office from Trade capture, Trade booking, amendment, pricing, Reconciliation, Corporate action and settlement functions. Flexible, adaptable worked across regions, products, locations. Driven Derivatives Middle Office leader with robust knowledge in managing trade lifecycle processes, risk management, and regulatory compliance. Demonstrates strong analytical abilities, ensuring accurate trade capture and reconciliation. Skilled in utilizing advanced financial software and fostering collaboration between front office, back office, and IT teams. Capable of enhancing operational efficiency and reducing risk, bringing value to any financial institution.

Overview

16
16
years of professional experience

Work History

Equity Derivatives and Cash Equity Middle office

Barclays Global Service Centre
11.2020 - Current
  • Responsible for Trade Support activities - managing both Cash and Equity derivative related activities for Global region covering FOBO, intersystem and FOFO reconciliation on Equity market predominantly working on T0 and T1 controls
  • Feeds monitoring, investigating on the Exceptions and liaising with various operations team, Desks, clients and agent banks to ensure timely clearance of Breaks with accuracy
  • Handling T0 reconciliation like Broker Rec, Exchange rec etc
  • Along with the critical activities T0 Settlement cycle and Buyin markets
  • T1 Recs involving FOBO, Intersystem, UT recs, which has critical activities like Atlas GMI, Wash book rec etc
  • Internal Reconciliation: Multiple internal controls involving Mocha, GCAM, Sophis, and Atlas etc
  • Lead role in automation on Projects, Part of Project & people pillar pertaining to Equity; Executions on NAPAs (New, Amend Project Approvals) and Key resource in providing updates to risk calls to senior management
  • Responsible for Risk mitigation, reconciling trades against trade blotter and Risk Management by ensuring timely and accurate trades bookings and validation
  • Key Achievements: Built new T0 Broker Rec with Internal booking on List derivatives- which resulted close to 90% STP rate where breaks count reduced by more than 50% volume on T1
  • Manage Exchange reconciliation- Successfully migrated AUD exchange recs in Internal rec as part of control
  • Enhancement and better control management on Equity Fund Reporting to Desk
  • Enhancement on Rec logic: on many recs like Sophis GMI, Mocha BCAL where Breaks count reduced by 50% with enhancement
  • Lead role in completion of many NAPAs, application enhancement like Sophis DB- APAC to LDN movement; Compass to X-Wing; AUD Exchange, New broker additions to Barclays etc

Oversight- Settlements/Middle office (Client Services)

Barclays Global Service Centre
11.2014 - 11.2020
  • Responsible for overseeing activities and performing the quality checks for settlements- (Equity and Fixed Income) and client service teams for Fixed Income and Equity performed by the utility services covering close to 150+FTE spread across Chennai, Bangalore, Mumbai
  • Migrated Function form Glasgow and part of Set up of Oversight team in India
  • Managing buy-in trades' regular basis and working with Stakeholders like Trades, client and Settlements to avoid buy in risk on Equity and Fixed Income products
  • Liaising with settlement/corporate action team in prioritizing high value trades to mitigate risk and liaising with FO and communicated discrepancies in trade economics to client timely
  • Maintenance of Barclays Standard settlement Instructions across Equity and Fixed income produces and ensure static teams update in Alert on regular basis
  • High value Payment approval, Managing Stock and Cash balances
  • Prematching activities: Managed Prematching activities with client on T0 and T1 to avoid issues on settlement functions
  • Key Achievements: Migrated Function from Glasgow which is first of its kind in India
  • Built Buy in methodology and effective managing process on Equity market - which streamlined process to avoid Buy in penalties and fines with proactive approach
  • Major role played in Global changes like T2S settlement

Trader Support and Pricing Specialist

J P Morgan India Services Ltd
07.2009 - 06.2014
  • As a Trade support lead, has support traders in trade capture, booking, amendment, cancellation, pricing and reconciliation of trades and act as a lead messenger between Trading desk and Settlement Teams; ensuring proper settlement; handling trade support functions and resource allocations across Japan, Hong Kong, Mumbai, GEM and EMEA regions
  • Managed APAC trade support, Tokyo corporate actions and sales support functions
  • Trade support functions - Covering Hong Kong, Australia and other 11 APAC regions - like booking, amendment, cancellation, pricing and reconciliation of trades and act as a lead messenger between Trading desk and Settlement Teams
  • Migrated Oversight functions for Settlements - Equity and Fixed Income from Glasgow and part of set up of oversight functions in India
  • Sales Support: Managing client Service function and providing updates to Sales Desk/Sales assistant
  • Tokyo corporate function - Creation and calculation of Coupon and redemption on JGB Bonds in line with Euroclear and sending notice to client
  • Key Accomplishments: Migration of Pricing function of bonds for around 8 Countries and single handedly migrated from Hong Kong
  • Part of Initial set up of Middle office function in India - Able to set up and standardized team
  • Complete coverage on trade life Cycle activities of middle office Starting form T0 trade capture with Trading blotter, Live Trader assistant role providing updates / acceptance of manual trade executed by desk; T1 - amendment, cancellation in Trader Pnl Books to maintain PnL evaluation with PCG, Pricing function, Settlement and corporate actions involving coupon and Redemption calculations
  • Migrated FX functions directly from Mumbai Trading desk and providing regular updates to Desk directly on Trade booking in To
  • Migrated Risk management System (Concorde) to Athena and lead role on migration of 11 Countries of APAC where we could book, Amend and book trades

Education

Master of Business Administration -

Visveswaraya Technological University
01.2009

Bachelor of Commerce -

Bangalore University
01.2007

Skills

  • Trade booking
  • Price Extraction
  • FX Operations
  • Sales Support
  • Settlement Oversight
  • Trade Support
  • Reconciliation
  • Operations Service delivery
  • Team Building
  • Leadership
  • Continuous improvements
  • Trade lifecycle comprehension
  • Derivatives trading systems
  • Reconciliation processes
  • Derivatives knowledge
  • Equity market insight
  • Change management
  • Agility

Personal Information

  • Passport Number: X6202298
  • Date of Birth: 02/17/86

Awards

  • Awarded 'Six sigma White belt project' for process improvement in Barclays in less than 6 months.
  • Awarded 'Barclays Recognition Programme' best performer of the month.
  • Awarded as the 'Pinnacle of the Quarter' for the 2nd Quarter 2010 from Managing Director of J.P Morgan, India.
  • Awarded as 'Best performer of the Quarter 2011, in Global Fixed Income Middle office.
  • Awarded many times as 'Extra Miler and Spot Award' of the Dept. of Securities Operation and GFIC for the Best Performance across the Dept.

Custom Section

  • Successfully and solely migrated the Price Extraction function from Functions, Brexit migration (Involving change in Booking model, Settlement instructions, Agent/Client support)
  • Key application build: Gloss - Third-party Settlement system involving feeds from both FISS and GOS Settlement system of Barclays for smooth function of Settlement and Corporate action function on an outsourced function
  • Migrated maintenance Function of standard Settlement instructions (SSIs) of fixed income and Equity on all entities from APAC to US Barclays and standardized the process review with Static teams to update Alert (Global APP on SSI reviewed by all Investment bank) and STP of SSI to trades which enhanced efficiency of settlement rate
  • Organized the Monthly / weekly calls with different stakeholders involving Desk; Client, Middle office, TCU and settlement function which enhanced the efficiency rate of trade settlement
  • Able to achieve lowest Fails on Equity and Fixed Income with modernized approach in building effective T0 and T1 controls and could reduce Nostro/ Depot breaks
  • Migration on Asset at Risk, Nostro, Depot, fails etc
  • To Delphi (Exception management system) which could give daily, weekly, Monthly key highlights/insights to management

Timeline

Equity Derivatives and Cash Equity Middle office

Barclays Global Service Centre
11.2020 - Current

Oversight- Settlements/Middle office (Client Services)

Barclays Global Service Centre
11.2014 - 11.2020

Trader Support and Pricing Specialist

J P Morgan India Services Ltd
07.2009 - 06.2014

Bachelor of Commerce -

Bangalore University

Master of Business Administration -

Visveswaraya Technological University

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Ajith Prakash