Arun Kumar Singamsetti
Manager, Risk & Compliance Assurance
Hyderabad, Telangana
Summary
A competent experienced professional with over 14 years of overall experience and ability to work in a demanding work environment in various areas of Operations, Risk and Compliance Assurance, Quality, with admirable leadership skills in managing, developing, and optimizing self and team potential, ensuring organizational growth. Possess background in assuring the risk management of critical business processes and specified non-financial risks across the Group, principally by testing mitigating controls.
Overview
17
17
years of professional experience
3
3
Languages
Work History
Manager, Risk & Compliance Assurance Services
HSBC Electronic Data Processing
05.2021 - Current
- Map processes of assigned controls and identify the main control components within that end-to-end process
- Perform Control testing for Non-Financial Risks and report impact of controls
- Evaluate assigned controls for operating effectiveness, document results and raise issues as appropriate
- Ensure the accurate, efficient, and timely completion of independent control assessments for controls associated with assigned risks
- Understand and document the remit, process composition and team handovers of relevant controls
- Gather data and analyze to understand underlying issues
- Assess design and operational effectiveness to assess operational risk environment
- Manage control owners and other stakeholders, ensuring the success of each assigned reviews
- Manage the documentation of distinct control types, covering key aspects, such as remit, main processes, and handovers to other teams
- Validation of issues and Action and ensure remediation plans are implemented and the issue is closed within stipulated timelines.
- Investigated control failures and implemented corrective actions to prevent future occurrences, bolstering overall system integrity.
- Collaborated with cross-functional teams to devise control strategies that aligned with business objectives and reduced operational risks.
- Supported external audit engagements by providing timely and accurate information regarding internal controls and related documentation.
Assistant Manager, TM Operations
HSBC Electronic Data Processing
02.2018 - 04.2021
- To lead, Supervise and ensuring alerts generated are investigated appropriately for patterns of Money Laundering & Terrorist Financing activities, ensuring compliance and applicable internal policies & procedures
- Lead and monitor the teams' knowledge on subjects like AML, Fundamental of High-Risk Monitoring and Conducting Effective Research and Narrative Writing, systems, policies, procedures and US Banking regulations
- Process productivity and quality targets are set, monitored, and achieved to ensure optimum resource utilization and achievement of business objectives and Service Level Agreements (SLAs)
- Understand MI requirements enough to be able to produce, analyze, interpret MI and provide timely reports to the Management
- Ensure compliance with audit requirements by performing audit checks as required by process, in line with business process requirements
- Provide advice and guidance to the staff on all aspects of their role including decision making on alerts and their dealings with other departments
- Implement cross training plans considering the Global Contingency requirements, Staff Banding progression and Operational requirements, and striking a balance among them
- Ensure compliance with audit requirements by performing audit checks as required by process, in line with business process requirements.
AML Investigations Specialist, UK TM
UK TM
07.2014 - 01.2018
- To investigate the alerts generated are investigated appropriately for patterns of Money Laundering & Terrorist Financing activities, ensuring compliance and applicable internal policies & procedures
- Investigate alerts escalated from Level 1, Unusual Activity reports [e-Forms] and create cases on SCION/ NORKOM system
- Monitor transactions to check for trends, patterns and anomalous activity if any on a customer/case level
- Conduct searches using search engines, websites and in-house systems and contact respective business functions for additional information as appropriate to review/ investigate the case
- Summarize the findings in a clear and concise manner and support the report with evidence in accordance with established procedures, regulatory compliance, and standards
- Follow appropriate procedures in closing or recommending SARs to Level 3/ Investigations Reporting team
- Prepare the documentation of the MLRO evaluation and determination process in respect of SARs.
Analyst, Deloitte Consulting India Pvt. Ltd
Deloitte Digital
08.2011 - 06.2014
- Review policies and guidelines associated with wireless policies of and usage of mobile and wireless devices in Deloitte US and India
- To assess risk associated with connection of such wireless devices to the corporate server and prepares audit reports and report to the management
- Develop new audit reports to capture new risks, noncompliance issues associated with the connection of wireless devices to the corporate servers
- Report management and leadership every week on progress of capturing non-compliant professionals, events and incidents through different reports.
- Collaborated with cross-functional teams to identify opportunities for process improvement and increased efficiency.
- Reduced operational costs with thorough analysis of vendor performance metrics and contract negotiations.
AML Executive
HSBC Electronic Data Processing
04.2007 - 07.2011
- Conducting due diligence on entities involved in a cross-border payment
- Performing research on the entities involved in a transaction and identifies the purpose of the transaction
- Execution of AML procedures analytically that help the organization identify entities sanctioned under federal and international laws, avoid financial losses and ensure the organization is acquiesced to policies of regulatory bodies
- Identify and report any non-compliance or suspicious activity, in accordance with anti-money laundering regulations to Management
- To oversee Money Laundering activities conducted, if so, alert the bank authorities
- To comprehend and analyze complex patterns of different payments and recognize unusual activities
- To conduct checks for any records that may have any adverse findings on the customer, and to report the same
- Frame detailed reports on the research conducted on the entities involved in the transaction
- Collate information and make judgments through analysis.
Education
Master's in business administration (Finance) -
Andhra University
B.SC ELECTRONICS - undefined
Pydah Educational Institutions
Higher Secondary - undefined
Gayatri Vidya Parishad Junior College
Skills
Operations Management
Risk and Compliance
Controls Assurance
Leadership
Audit Readiness
Stakeholder Management
Capacity Planning
Organizational Skills
Excellent Analytical Skills
People Management
Mentoring
Flexibility
Quality Assurance
Performance Management
Policy Implementation
Accomplishments
- Winner of multiple accolades for contributions made to Automation projects including YSYE, Team Leader Superstars, Annual Awards, and Dept. Top Performer for exceeding the performance parameters. Winner of GSC India best AMO award held in Feb'2021.
- Winner of Applause award, Terrific Team award and Spot award for excellent performance in streamlining audit process, setting up audit and USI Process.
- Successfully represented the team in CACT Audit Conventions, and successfully managed business partners, senior management, and other stake holders.
- SME for program ROWE initiative involving Robotics project (Blue Prism) for UK.
- SME for Lite Automation tool in UK Production called as Open Span.
- Have solely managed the Investigation Analytics (BTL) process for Transaction Monitoring process which primarily tests the Thresholds capabilities of the detection scenarios.
- Successfully transitioned the internal audit process of server compliance. Develop the process from two audit reports to nine audit reports associated with compliance, risk assessment and security of the firm's data.
Timeline
Manager, Risk & Compliance Assurance Services
HSBC Electronic Data Processing
05.2021 - Current
Assistant Manager, TM Operations
HSBC Electronic Data Processing
02.2018 - 04.2021
AML Investigations Specialist, UK TM
UK TM
07.2014 - 01.2018
Analyst, Deloitte Consulting India Pvt. Ltd
Deloitte Digital
08.2011 - 06.2014
AML Executive
HSBC Electronic Data Processing
04.2007 - 07.2011
Master's in business administration (Finance) -
Andhra University
B.SC ELECTRONICS - undefined
Pydah Educational Institutions
Higher Secondary - undefined
Gayatri Vidya Parishad Junior College
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