Atul Kojage

Client On-boarding -

• Client On-boarding team in eClerx looks after below two major functions and make sure collateral and Interest process works smoothly
• To send out the daily collateral calls and monthly interest calls, system needs to be updated with correct contact details and our team update client contact details in the system
• To pay the cash collateral and interest amount, SSIs also needs to be setup in the system hence we update the SSI detail in the system
• Maintain the On-boarding tracker and share it with stakeholders to discuss on pending items and find out the best solution to resolve the issues early as possible
• Prepare onboarding reports at start of the day and share the daily volumes with the stakeholders and also share the latest updates on the each items and the final pending count at the EOD
• Prepare Resource Utilization (RU) report on monthly basis and share with the management
• Prepare Monthly Business Review (MBR) report on monthly basis and share with the management
• Take daily huddle to discuss the challenges if any or the changes required in the process

Margin Call Disputes Resolution -

• Working on IM exposure, MTM exposure and Collateral balance & Independent Amount differences using different global reconciliation and margin tools such as Trioptima, XCOLL and Acadia IM exposure
• Investigate on margin call disputes and dispute drivers for resolutions on discrepancies
• In co-ordination with trading desk, risk officers and onboarding team etc. for the resolutions

Portfolio Reconciliation -

• To adopt a proactive approach towards resolving margin call disputes by resolving the discrepancies such as legal entity breaks, Unmatched trade breaks and MTM breaks which drives the margin call disputes
• Uploading client’s portfolios against entities to triResolve and monitoring matching status with corresponding counterparty’s portfolio
• Analyzing results generated by triResolve to find out the root cause of the breaks and initiate resolution
• Co-ordinating with MO, confirmation team, legal team, tech team and counterparties for resolution

Portfolio Reconciliation -

Primary Functions :

• Reconciling portfolios of OTC derivative products
• Analyzing the breaks in Tri-Optima and taking corrective action
• Exposure in handling third party confirmation tools like DTCC and Markitwire
• Strong Experience of using third party reconciliation tool TriResolve
• Setup and host various calls with clients stakeholders and counterparties to discuss the outstanding issues or action items and follow-up/escalate on the same for timely closure
• Timely verification of SOP and check list to reflect all the updates in process and discuss the same with the client to take their signoff to use the same
• Handle Change Management Requests (CMR) –Get the requests for onboarding of new clients or new funds for existing recons
• Request VP to provide approval for each CMRs then reach out to client for Letter of Authorization to order to proceed further for onboarding
• On-board new client for the OTC reconciliation and request their counterparties to map the required OTC funds from their end to start reconciling OTC Derivatives products

Other Functions:

• Review the reconciliations completed by Analysts to make sure all the basic checks and investigations are done properly before sign off
• Prepare weekly and monthly Break Reports and share with Oversight team to discuss on all major breaks on weekly calls
• Training new hires on processes & guidelines to ensure smooth production on-boarding

Portfolio Reconciliation -

• Process involves complete portfolio reconciliation, across all product types.
• Reconciling portfolios of OTC derivative products
• Analyzing the breaks in Tri-Optima and taking corrective action
• Handling Team for delegation of work, managing escalations & people care activities
• Investigating and Matching of unmatched trades and legal entities breaks on TriOptima for sensitive/larger counterparties (Asset Classes – IRS/CDS/Equity/Commodity/Energy and FX)
• Follow up with the involved parties to resolve the breaks
• Work on reducing the market risk or any margin dispute occurring by matching trades and therefore improving matching percentage
• Exposure in handling third party confirmation tools like DTCC and Swaps wire
• Continuous interaction with clients, middle office, traders, operations, valuations teams etc over telephone

Custodian Collateral Reconciliation (Third Party Collateral Reconciliation):

• Working with custodian to resolve the cash and position breaks
• Coordinating with service representative’s to resolve the cash and position breaks by providing appropriate information
• Use TLM and swift tool for verification and investigation of breaks
• Set scheduler and swift by discussing with counterparties custodian
• Investigate breaks by providing swift code
• Interaction with custodian over mail and call