Akshay Jain
Experienced Banker
Mumbai
Summary
Multi-talented business leader bringing several years of experience as successful professional. Strategic problem solver and change manager. Visionary executive implements plans that meet current and future needs. Key expertise in industry.
Overview
20
20
years of professional experience
Work History
Vice President, India Domestic Operations – Trade & Working Capital
BARCLAYS BANK PLC
Mumbai
12.2020 - Current
- Created new India Domestic Ops function within BX, overseeing 70 staff in multiple locations managing Trade and Payment transactions.
- Led transaction and risk monitoring for India Domestic operations
- Responsible for managing the 1st and 2nd Lines of defense for India Domestic Trade Finance and Payments operations.
- Designed and delivered multiple efficiency projects, achieving 40% FTE cost savings through automation and Operations effectiveness
- Successfully led multiple internal audits for Trade Finance and Payment Ops, resulting in satisfactory ratings for process and management control
- Successfully implemented change initiatives targeting system and capacity efficiency improvement
- Conducted ongoing evaluation of operational best practices resulting in strategic decisions for in-sourcing or outsourcing to vendors.
- Led initiatives that directly influenced client sentiments
- Collaborated with Front-office and Product Team to successfully launch new products and enhance operational capabilities
- Drove the Risk and Control framework within team.
- Managed and oversaw the entire Trade Finance and Payments process from start to finish
- Built a high-caliber talent pool to enhance operational efficiency in handling complex products
Assistant Vice President, Payments, and CMS Operations
BARCLAYS BANK PLC
Mumbai
06.2011 - 12.2020
- Led operations for CMS, payment, and remittances
- Provided support for corporate banking, investment banking, and private banking (wealth management) by overseeing critical functions related to e-payments, cash management, cross-border remittances, reconciliation tasks, regulatory reporting compliance,and risk assessment activities
- Successfully implemented the new core banking system (UBS, iFlex) for payments and CMS ops from UAT to production
- Executed key regulatory (RBI), efficiency, automation & control projects including LEI compliance, MT101, liquidity reporting, and NEFT 24*7. Implemented RBI mandated swift controls, regulatory TAT reports and credit confirmations
- Collaborated with compliance, technology, and business departments to enhance the STP rate for NEFT and RTGS. Achieved an 85% STP rate by configuring STP credits and returns based on account number, GL, NREetc.
- Seconded to business for 6 months, collaborating with front office to onboard new clients such as Amazon, Dentsu, and Huntsman. Structured and operationalized new products including RDA, para 10 remittances, and SNRR
- Designed automation and single screen processing for RDA transactions
- Institutionalized the INR Swift guide in collaboration with UK to ensure FEMA compliance and achieve a significant reduction in Vostro repair/reject rates from 85% to 5%
- Streamlined the INR 500 crores monthly cash collection activities at CDM and India Post through the development of automated solutions
- Successfully executed WLA arrangements for the sale of INR 250 crores in cash each month, resulting in a reduction of correspondent bank burial cost from 40 paisa to 21 paisa per 1000
- Streamlined and set up FDI and Escrow operational process to facilitate the bank in winning and executing marquee deals such as Piramal Rights Issue Escrow, EurosSchool KKR, Bayer Monsanto Open Offer, Max Healthcare, Claris Baxter, Amazon, Symphony, Tirumala, DP World.
- Managed ECB and ODI remittances, handling reporting responsibilities for the bank
- Implemented NRE NRO transactional compliance initiatives bank-wide, incorporating the UBS solution.
Project Manager, Operations
BARCLAYS BANK PLC
Mumbai
06.2010 - 05.2011
- Successfully migrated commercial operations from “Cost Plus” to “Managed Services” at Intelenet Global Services, resulting in a significant cost saving of GBP 3.8 MN over a span of three years
- Overseen allied risk across operations
Head Client Services Group and Projects, Commercial Banking
BARCLAYS BANK PLC
Mumbai
04.2009 - 05.2010
- Created and implemented a comprehensive client service group in commercial banking. Developed crucial parameters including disposition codes, SLA, TAT, process manuals and service quality guidelines to optimize performance within Debt, Trade and Cash services.
Channel Manager, India - Business Banking, Commercial Banking
BARCLAYS BANK PLC
Mumbai
11.2007 - 03.2009
- Successfully oversaw business banking activities and contributed to generating an annual revenue of GBP 4.8 MN through SME lending and Transaction Banking
- Contributed to driving key initiatives for the SME division under the guidance of the business head
Regional Head –Transaction Banking, Consumer Banking
STANDARD CHARTERED
Ahmedabad
01.2004 - 10.2007
- Managed Gujarat's liability value center by overseeing acquisition of multiple products, optimizing portfolio quality, and driving sales of third-party products. Led a team of 100+ employees and achieved an annual revenue of INR 20 Mn.
- Achieved best country-wide results on team productivity, financial KPIs, cross-functional management, marketing activities, product restructuring, book size & portfolio.
Agency Manager
ICICI PRUDENTIAL
Baroda
04.2002 - 01.2004
- Hired, supervised and motivated insurance advisors, resulting in an annual premium of INR 6.3 Mn.
- Achieved accelerated career growth through successful evaluation based on set criteria, securing ongoing professional opportunities
- Achieved top ranking as No 1 Branch Unit Manager in 2002 and earned eligibility for Sales Congress Millionaire Club Qualifier
Sales Executive
Swissair
Baroda
12.1999 - 03.2002
- Led efforts in South Gujarat region to enhance Swissair flight occupancy by managing a group of 45 travel agents and key corporates
- Achieved revenue of CHF 3,97,657, surpassing the target by 17%.
- Revived key corporate accounts like ABB and obtained new corporate deals such as VACS, which represented 40% of the flown revenue in 2000
Education
Bachelor of Science - Mathematics
MSU
Baroda, Gujarat06-1998
General Management Program For Executives - Management
IIM Lucnow
Lucknow06-2012
Skills
- Operations Management
- Risk Management
- Process Improvement
- Strategic Planning
- Team Leadership
- e-Payments
- Cash Management
- Remittances
- Trade Finance
- Insurance
- RBI Regulations
- FEMA Compliance
Languages
Hindi
Native language
English
Proficient (C2)
C2
Gujarati
Proficient (C2)
C2
Affiliations
- Dramatics
- Music
- Swimming
Accomplishments
- Nominated for COO excellence awards 2024
Certification
ifs School of Finance, UK Barclays
- Commercial Lending – License BCS/47943245
- Advanced Commercial Lending – License ABCS/47943245
Timeline
Vice President, India Domestic Operations – Trade & Working Capital
BARCLAYS BANK PLC
12.2020 - Current
Assistant Vice President, Payments, and CMS Operations
BARCLAYS BANK PLC
06.2011 - 12.2020
Project Manager, Operations
BARCLAYS BANK PLC
06.2010 - 05.2011
Head Client Services Group and Projects, Commercial Banking
BARCLAYS BANK PLC
04.2009 - 05.2010
Channel Manager, India - Business Banking, Commercial Banking
BARCLAYS BANK PLC
11.2007 - 03.2009
Regional Head –Transaction Banking, Consumer Banking
STANDARD CHARTERED
01.2004 - 10.2007
Agency Manager
ICICI PRUDENTIAL
04.2002 - 01.2004
Sales Executive
Swissair
12.1999 - 03.2002
Bachelor of Science - Mathematics
MSU
General Management Program For Executives - Management
IIM Lucnow
Similar Profiles
Akshay JainAkshay Jain
Vice President, Payments, Cash Management and Trade Operations – Bx at BARCLAYS BANK PLCVice President, Payments, Cash Management and Trade Operations – Bx at BARCLAYS BANK PLC
Sarvesh KhatriSarvesh Khatri
ETL TEST ANALYST at Barclays Bank PLCETL TEST ANALYST at Barclays Bank PLC
Surbhi VermaSurbhi Verma
Product Controller- Analyst at Barclays Bank PLCProduct Controller- Analyst at Barclays Bank PLC