Bhadrakumar Kamath
Summary
Dynamic Assistant Vice President with a proven track record at Deutsche Bank, excelling in process optimization and stakeholder management. Expert in automating tax operations, achieving significant efficiency gains while fostering a high-performing team culture. Adept at regulatory compliance and risk management, driving successful outcomes in complex environments.
Overview
15
15
years of professional experience
Work History
Assistant Vice President (WHT Tax Operations)
Deutsche Bank
10.2021 - Current
- Leading a team of 10+ professionals handling EMEA Tax Reclaims across equity and fixed income securities, with a focus on enhancing operational efficiency for custody and legacy proprietary platforms.
- Played a key role in mentoring and coaching team members to build a high-performing, collaborative team culture, encouraging ownership, upskilling, and continuous improvement.
- Improved client scorecard performance for major institutional clients by fostering stronger cross-functional collaboration and delivering more consistent project outcomes.
- Delivered process improvements by working closely with asset servicing teams and global stakeholders to resolve long-outstanding breaks and address control environment gaps within tax operations.
- Played a key role in creating and rolling out new tax reclaim processes in coordination with agent banks and transfer agents, ensuring completeness and compliance in submission workflows.
- Drove automation within tax operations through the implementation of Alteryx, Doc IA, and bulk upload solutions, significantly reducing manual effort, turnaround times, and operational risk.
- Provided expert guidance as the Subject Matter Expert (SME) on global tax reclaims and relief at source, researching regulatory changes and coordinating with tax authorities to secure timely and accurate refunds.
- Contributed to cost-efficiency improvements by overseeing the successful migration of operations to lower-cost delivery centers, ensuring continuity through detailed documentation and training.
- Led the user acceptance testing (UAT) for the first-ever German electronic reclaim automation, addressing compliance risks and system gaps during pre-launch phases.
- Maintained full compliance with service-level agreements (SLAs) by managing end-to-end tax refund reconciliations, resolving discrepancies raised by tax authorities, and strengthening client communication channels.
Assistant Vice President (WHT Tax Operations)
JP Morgan Chase
08.2019 - 09.2021
- Led global custodial operations for Withholding Tax Reclaims, ensuring accurate and timely tax refunds in compliance with international tax laws across multiple jurisdictions.
- Managed 3 process managers and 2 teams specializing in Tax Reclaim Pursual and Tax Rates & Review, driving process efficiency and team performance.
- Identified and addressed operational and financial risks in the service delivery model, implementing innovative solutions and controls to mitigate risks and improve process reliability.
- Spearheaded automation projects in collaboration with the Technology team, enhancing operational efficiency by eliminating manual processes and reducing error rates.
- Ensured accurate reconciliation of tax reclaims, liaising with custodians, sub-custodians, and tax authorities to resolve issues, meet SLAs, and guarantee timely refunds.
- Reviewed and updated tax rates and tables, ensuring re-certification and accurate reconciliation of tax rates between custody and fund accounting systems.
- Delivered comprehensive reports to senior management, highlighting process performance, risks, and key tax reclaim metrics in weekly and monthly reviews.
Manager
State Street Services India Pvt Ltd
08.2017 - 07.2019
- Successfully led the Investment Portfolio Compliance Team, driving daily analysis and resolution of portfolio violations, ensuring strict adherence to client investment mandates and improving overall portfolio risk management.
- Reporting Asset segregation, Commodity Future Trading Commission (CFTC), monthly and quarterly compliance reports and tax computation of the fund held by the clients along with reviewing daily task.
- Played a key role in training and onboarding teams, equipping members and onshore counterparts with the necessary skills to independently handle complex client queries and manage compliance processes efficiently.
- Streamlined and standardized compliance reporting processes, process for joint venture & Internal Revenue Services across State Street Compliance systems improving accuracy, consistency and more consistent approach across the teams.
- Proficient with coding of compliance rules and regulations basis the matrices agreed on with the client and Bloomberg terminal, Mig21 (Compliance Monitoring System), MCH and MYSS (Compliance Portal monitored by SSB).
Senior Team Leader
JP Morgan Chase
10.2010 - 07.2017
- Providing withholding taxation services to JP Morgan’s Global Custody clients through retrospective reclaims under double taxation relief treaties between resident and investment countries.
- Leading a team of 12 to handle client relationships across the EMEA and APAC regions along with client advisory on market requirements and compliance.
- Spearheaded process redesign projects that improved operational efficiency and reduced risks, significantly streamlining tax reclaim operations and reducing the service turnaround time.
Skills
- Process Optimization & Automation
- Training and development
- Hiring and coaching
- Stakeholder Management
- Risk Management
- Regulatory Compliance
- Analysis and Reporting
- Project Management
- Leadership
Accomplishments
- Represented Operations in Client Servicing Forum to highlight key strategies and good practices that drive exceptional client satisfaction and loyalty.
- Won 'Hall of Fame' award for exceptional performance.
- Won 'Impact Award- Risk & Control' for outstanding performance and commitment to excellence.
- Won 'Individual Contributor' for going over and beyond the responsibilities during the transitional phase.
- Winner of 'Zinger Champion' award for outstanding individual performance.
- Winner of 'Star Savior' award for timely identification and mitigation of financial risk.
- Winner of 'Extra Mile' award for delivering results over and above management expectation.
- Winner of 'Hall of Fame' award for innovation across processes in eliminating manual effort.
- Winner of 'Best Team' for 3 consecutive months while being the Team Lead.
Timeline
Assistant Vice President (WHT Tax Operations)
Deutsche Bank
10.2021 - Current
Assistant Vice President (WHT Tax Operations)
JP Morgan Chase
08.2019 - 09.2021
Manager
State Street Services India Pvt Ltd
08.2017 - 07.2019
Senior Team Leader
JP Morgan Chase
10.2010 - 07.2017
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