AKSHAY MAINKAR

Work History

SMB Bank (India) Ltd

03.2023 - 10.2023

Coordinate with Internal stake holder for implementation of FIU reports as per new format in FINNET 2.0 system.
Examine alerts generated by system, identifying pattern and escalating potential money laundering or terrorist financing risks.
Review and closure of AML alerts in timely manner to ensure adherence to regulatory guidelines
Track regulatory changes and assisting in annual review of AML policy and Compliance Manual
Prepare Suspicious Transaction Report (STR) for accounts having suspicious transactions and Suspicious Activity Report (SAR) for Suspicious activity.
Reviewing of notices/Letters / Emails received from various law enforcement agencies like Financial Intelligence Unit (FIU), Enforcement Directorate (ED), Serious Fraud Investigation Office (SFIO), Securities and Exchange Broad of India (SEBI), Anti-Terrorist Squad (ATS), Narcotics Control Bureau (NCB), etc.
Preparing Ground of Suspicion (GOS) for suspicious cases in format prescribed by FIU along with all relevant details
Ongoing Monitoring , Screening , adverse news check , conduct illegal activity checks of Clients, UBOs, via Dow Jones and Record Keeping for evidence on daily screening.
Conduct due diligence on customer/transaction alerts related to sanctions.
Coordinating with respective stakeholders and report Cash Transaction report (CTR), Suspicious Transaction Report (STR), Cross Border Wire Transfer Report (CBWTR) and Non-Profit Organization Transaction Report (NTR) to FIU-IND.

Citibank, N.A

10.2021 - 02.2023

Prepare Suspicious Transaction Report (STR) for accounts having suspicious transactions.
Reviewing of notices/Letters / Emails received from various law enforcement agencies like Financial Intelligence Unit (FIU), Enforcement Directorate (ED), Serious Fraud Investigation Office (SFIO), Securities and Exchange Broad of India (SEBI), Anti-Terrorist Squad (ATS), Narcotics Control Bureau (NCB), etc.
Escalating suspicious results from Client Due Diligence to MLRO.
Preparing Ground of Suspicion (GOS) for suspicious cases in a format prescribed by FIU along with all relevant details.
Conduct periodic internal accounts/Customer reviews to identify potentially suspicious activity.
Maintaining of MIS to adhere to internal processes of bank
Ensuring high quality standard and adhering to TAT.
Perform Periodic Reviews as per Risk Rating of Client.
Mentored team members to enhance professional development and accountability in workplace.
Ongoing Monitoring and Screening of Clients, UBOs, Controllers via World Check and Record Keeping for evidence on daily screening.

Citicorp Services India Private Limited

10.2016 - 10.2021

Guarantee Team:
Booking, Amendments and Closure of Guarantees transactions in Trims system
Reconciliation of Permanent lines / Accounts
Reporting of foreign currency exposures for amount of Non – Fund based products to counterparties which are unhedged
Rectification of entries highlighted by Transactor system / internal stakeholder or Client in Flex System
Preparing RBI deliverables such as preparing Income report and providing risk report (bifurcating Risk wise Guarantees and presenting)
Handling Audit queries
Given training to team member and cross trained two Citi employees in Penang Location
Sending Communication message to beneficiary bank via Swift and SFMS
Crediting / Liquidation of funds received in Nostro
Remitting Overseas bank charges Via MT202
Import Team:
The team is into processing of Foreign Exchange Currency Payments / Outward Remittance
Processing of Foreign Exchange Currency Payments /Advance Remittance, Direct Import Remittance (Open Account) and Merchanting Trade Transaction
Trade KYC check of customer and FEMA declaration undertaking is the key task to process with any transaction
Checking compliance and AML - Anti Money Laundering for the transaction and documents
Ensure timely execution of transaction as per defined turnaround standards
Reporting of transaction to RBI under merchant trade for breach of any guideline
Coordinating with Treasury operations for booking of currencies.

Kotak Mahindra Bank LTD

08.2014 - 10.2016

Import Team: The team is into processing of Foreign Exchange Currency Payments / Outward Remittance, Processing Letter of Credit bill Lodgment
Processing of Foreign Exchange Currency Payments / Outward Remittance, Advance Remittance, Direct Import Remittance (Open Account) as per RBI Master Circulars
Checking compliance and AML - Anti Money Laundering for the transaction and documents
Ensure timely execution of transaction as per defined turnaround standards
Processing Letter of Credit bill Lodgment for Documents received from Overseas Bank and initiating swift for discrepant documents MT734
Co-ordinating with Corporate Service Manager / Relationship Manager in Branch in case of any clarification needed on pending transactions and for all required documents & for Forex Funding
Preparation and authorizing of SWIFT for Fund Transfer via SWIFT payment messages i.e., MT103 and MT202 and MT110 for issuance of foreign currency DD - Demand Draft
Preparing and authorizing of SWIFT MT199, MT299 for the correspondence related to payment Investigations, payment amendment, Beneficiary claims non receipt of funds, Beneficiary claims short funds received, status of funds, Compliance SWIFT, KYC SWIFT, Recall of funds etc..

TATA CMC LTD, A TATA Group

08.2012 - 11.2013

The team is into handling property and casualty insurance related documents and assisting underwriter in handling customer query raised by policy holder
Resolving the queries and replying to our client (underwriter) through mail
Processing and analyzing those documents belonging to regional companies’ group
Getting those documents added to CPF (commercial policy file), from where underwriter is able to take action for further process
Settling of client insurance account.