Playing Badminton, Tennis and Chess
Akash Prabhu
Chartered Accountant
Mumbai
Summary
Detail-oriented Compliance Officer dedicated to improving policies and procedures in all business areas. Hardworking and driven with quality-focused and proactive approach. Bringing 5 years of experience in Banking Industry.
Overview
10
10
years of professional experience
9
9
years of post-secondary education
4
4
Certifications
Work History
Compliance Officer (In-charge)
Kotak Mahindra Bank Limited, IFSC Banking Unit
Gandhinagar
2022.08 - Current
- Reviewed, revised and updated compliance policies and procedures to confirm continual compliance with applicable laws.
- Implemented improvement initiatives and developed compliance testing program to monitor and identify gaps in new and existing practices.
- Collaborated with internal and external stakeholders, auditors and legal counsel to confirm compliance with applicable laws and regulations.
- Handled on-site assessment of IFSCA, covering multiple areas of compliance, risk, and documentation.
- Developed and implemented KYC and AML CFT policies, procedures and risk assessment models to identify potential AML CFT compliance risks.
- Developed logics and implemented system for AML transaction monitoring and screening procedures.
- Prepared and submitted regulatory filings in timely manner to IFSCA, RBI and FIU-India.
- Conducted periodic compliance audits and reviews to identify areas of improvement.
- Developed and implemented corrective action plans for non-compliance issues.
- Managed practical action plans to respond to audit discoveries and compliance violations.
Business Compliance Manager
ICICI Bank Limited (Private Banking)
Mumbai
2018.10 - 2022.08
- Responsible for compliance oversight of Private Banking Business done from DIFC, Bahrain and Dubai Representative Offices in co-ordination with Local Compliance Officers based out of respective locations.
- Reading, interpreting and analyzing rules, regulations, guidelines, legal opinions, legislations as a business user (over and above respective legal and compliance departments) and utilizing the same in making recommendations to internal teams for new process developments and process improvements.
- Reviewing and analyzing operational processes and process documents and making recommendations from risk management and process efficiency perspective.
- Coordination of various day to day / periodic queries, periodic audits and inspections both from internal and external stakeholders. This involves understanding the requirements, relevance and background, educating the team members / groups from whom the information / documents may be required, collection, preparation and finalization and submission etc.
- Enabling Cross Border Business for Private Banking Customers in various non presence countries such as Indonesia, Malaysia, Thailand, Mauritius, Tanzania, Botswana, Uganda and British Virgin Islands.
- Have set-up enablers for customer relationship onboarding and maintenance including decease claim process, joint holder addition and deletion, closure of relationship for newly established Bahrain branch as Private Banking Booking Centre.
- Coordinated with DIFC and Bahrain Compliance counterparts on KYC matters.
- Participated and provided valuable inputs in responding DFSA and CBB during thematic audits conducted by the respective regulators.
- Project manager for setting up Private Banking business for Non-India Residents in GIFT IFSC, India’s first International Finance Centre.
- Ensuring timely reporting to internal compliance team for further submission to regulators.
- Conducted trainings for Relationship Managers on various areas of compliance.
Industrial Trainee
Nomura Services India Private Limited
Mumbai
2015.10 - 2016.09
- Worked closely with industrial professionals to expand upon acquired training with practical knowledge.
- Did Capital Regulatory Reporting for Nomura’s Hong Kong, Singapore, Malaysia, and Korea based entities.
- Prepared FRR (Financial Reporting Releases) as per laid standard operating procedures.
- Reviewed and updated standard operating procedures per specifications.
Article Assistant
J.B. Pitre And Associates
Mumbai
2013.08 - 2015.09
- Filed Income Tax Return, TDS return, VAT/CST Return.
- Did Income Tax Audit of Sole Proprietary firm.
- Did VAT Audit Did Stock Verification of Companies.
- Did Audit of Societies, Trusts, Sole Proprietary firm.
- Represented for Scrutiny & Assessments relating to Income tax And VAT issues.
- Did Accounting using Tally Software and Finalized accounts of Firms and Proprietary Concerns.
Education
Chartered Acountant
Mumbai, India 2012.06 - 2018.05
Bachelor of Commerce
Mumbai, India 2012.04 - 2015.04
Skills
Microsoft Excel
Certification
DFSA SEO & Compliance CPD Programme (2023)
Interests
Participating in meaningful discussions on finance topics
Timeline
DFSA SEO & Compliance CPD Programme (2023)
2023-10
Certifcate Programme on FATF Recommendations by ACFCS India
2023-09
Certificate Examination in AML KYC by IIBF (India)
2023-08
Certifcate Programme in Trade Based Money Laundering by ACFCS India
2023-08
Compliance Officer (In-charge)
Kotak Mahindra Bank Limited, IFSC Banking Unit
2022.08 - Current
Business Compliance Manager
ICICI Bank Limited (Private Banking)
2018.10 - 2022.08
Industrial Trainee
Nomura Services India Private Limited
2015.10 - 2016.09
Article Assistant
J.B. Pitre And Associates
2013.08 - 2015.09
Chartered Acountant
2012.06 - 2018.05
Bachelor of Commerce
2012.04 - 2015.04
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