Bhalchandra Y. Joshi
Mumbai
Summary
Highly experienced Chief Operational Officer with over 20 years in the Indian Banking, Financial Services, & Insurance (BFSI) industry. Recognized for expertise in asset management operations and improving customer experience. A forward-thinking leader who drives innovative product and process designs to enhance team productivity and reduce costs.
Overview
25
25
years of professional experience
1
1
Certification
Work History
President and Group Head Operations
360 ONE Wealth & Asset Management
Mumbai
2023.09 - Current
- Company Overview: India’s largest standalone Wealth Management firm
- Managed and ensured smooth functioning of MF, PMS, AIF, and Offshore operations including fund accounting (FA), RTA processes for transaction processing compliances, and production of MIS reports
- Successfully managing various aspects including Distribution, Broking, DP, and Investment Advisory services
- Managing NBFC operations, Trust Services, and Wealth PMS covering account opening, automation, and operations for the Mid-Market segment
- Contributed to enhancing client experience and reinforcing service delivery framework in wealth and asset management
- India’s largest standalone Wealth Management firm
Head of Global Strategy and Operations
CYBRILLA TECHNOLOGIES
Bengaluru
2022.10 - 2023.09
- Company Overview: Technology company serving asset management companies (AMCs), FinTech startups, and wealth management businesses with application programming interfaces (APIs)
- Offered strategic advice to Co-Founders in banking and asset management sectors concerning product development, CX enhancement, and operations through the utilization of operational and customer service expertise
- Developed productive and collaborative relationships with C-suite leaders in asset management companies and allied ecosystem to drive promotion of Cybrilla solutions, foster collaboration, and seize future growth opportunities
- Enhanced service for Cybrilla's AMC client base by successfully converting the manually operated Salary Advantage product to a software application environment during time at NAM India
- Technology company serving asset management companies (AMCs), FinTech startups, and wealth management businesses with application programming interfaces (APIs)
Chief Operations Officer (COO) / Executive Director
WHITEOAK CAPITAL INVESTMENT MANAGEMENT
Mumbai
2021.02 - 2022.10
- Company Overview: Investment management and advisory firm for Indian equity investors
- Chosen by the CEO as an expert in asset management, customer experience (CX), solutions delivery, and IT functions based on my 10+ years of experience serving as a Key Committee Member of India’s mutual fund regulatory body (AMFI)
- Established operational foundations and procedures in these areas
- Played an integral role as an advisor and member of the core management committee, responsible for shaping the firm's vision and strategy
- Closely collaborated with the Regulator to secure approval for business operations and maintain compliance in all areas
- Effectively led company-wide recruitment activities during the initial growth phase, ensuring the addition of around 125 personnel, including key functional executives, within six months
- Led efforts in launching digital onboarding for PMS and AIF, setting a new standard
- Investment management and advisory firm for Indian equity investors
Chief of Operational Excellence & Service Delivery
NIPPON LIFE INDIA ASSET MANAGEMENT LIMITED (NAM INDIA)
Mumbai
2009.09 - 2021.01
- Company Overview: One of the largest mutual funds in India with ₹2 lakh crore+ assets under management (AUM) and 2 crore customer folios
- Spearheaded full scope of securities and investor-side operational excellence as a strategic advisor
- Ensured outstanding CX and service delivery for improved performance
- Played an integral role in shaping the strategic vision for NAM India as part of the core executive management committee, reporting directly to the CEO
- Demonstrated strong leadership skills by effectively overseeing a multidisciplinary team of 200+ employees with accountability for key areas like branch & investor onboarding, customer contact center and email management
- Collaborated with Indian Regulator and industry body to shape policies for mutual fund operations, customer service, and product & process design
- Achievements
- Developed industry-first product feature called Instant Access Facility (IAF) enabling customers to withdraw funds 24/7, 365 days a year
- Took ownership of all phases involved in developing the product and defining associated processes; from concept to its successful unveiling in 2016
- The implemented solution has since gained widespread usage among India's retail investment community and earned national accolades by SKOCH
- Pioneered the introduction of innovative product features like Voice-Enabled Investment through a partnership with Google India
- Other notable additions include Salary Advantage, Video Know-Your Client (KYC), Virtual Account, Real-Time Online Reconciliation, and Real-Time Net Asset Value(NAV)
- Instrumental in establishing and fostering strategic partnerships within the asset management industry, ensuring MFU's continuous growth and impact
- Collaborated with teams to establish a compliant and customer-focused operations environment, resulting in a significant improvement of the CSAT score from the base of 65% to around 90% over a decade
- Successfully processed 50M investor transactions from 2019-2021, resulting in the company's lowest ever number of investor grievances
- Achieved a substantial growth in annual top line to ₹2000 crore in long-term assets (LTA) and 90K systematic investment plans (SIPs)
- Honoured with an award for achieving the distinction of being the top customer-centric organization at the 4th Annual CX Strategy Summit in 2018
- Developed API-based products through collaborative partnerships with major players in Banking and FinTech sectors, resulting in a ₹43 crore cost saving for the company while reducing team size by 15%
- Instituted risk mitigation measures, including the Risk Bank, to enhance operational governance throughout Operations
- Successfully implemented full work-from-home capabilities for entire Operations organization amid the pandemic, facilitating seamless delivery of critical activities without compromising personal well-being
- One of the largest mutual funds in India with ₹2 lakh crore+ assets under management (AUM) and 2 crore customer folios
Deputy General Manager
ICICI BANK
Mumbai
2005.11 - 2009.09
- Company Overview: NYSE listed Indian multinational bank and financial services company
- Engaged by executive leadership in June 2007 as a valuable member of the strategic decision-making process, responsible for managing wealth portfolios of SMEG clientele
- Instrumental in the development of a revenue generation initiative that raised ₹4500 crore in deposits and generated ₹36 crore in revenue as Business Head for SMEG and Deposit Mobilization
- Developed comprehensive product strategy and streamlined processes for deposit mobilization, benefiting 2K internal stakeholders
- Implemented various strategies to improve CSAT ratings, with a focus on:
- Designed and implemented formal CSAT measures for various SMEG service channels, including retail branch and phone banking, resulting in a significant increase in CSAT score from 60% to over 90%
- Maximized CX satisfaction through strategic implementation of customer relationship management (CRM) software and process enhancements for the SMEG team
- Created a wide range of 500+ Service Requests on the CRM platform, incorporating all aspects of service delivery
- NYSE listed Indian multinational bank and financial services company
Regional Head of Branch Banking
ICICI BANK
Mumbai
2003.11 - 2005.09
- Successfully supervised operations of nine branches in South Mumbai area, encompassing Nariman Point, Fort, and Bandra Kurla Complex
- Developed a strong customer-centric branch model along with cross-sell and up-sell strategies which fuelled remarkable growth in CASA deposits and diversified third-party product lines (car loans, home loans, life insurance, general insurance & Forex)
- As a result, the company recognized South Mumbai as the top-performing region annually during my tenure
- Launched specialized services catering to unique customer demographics such as Ultra High Net Worth Individuals (HNIs) and Senior Citizens, resulting in improved customer satisfaction
- Provided exceptional customer service by addressing escalated inquiries, leading to improved satisfaction rates and optimized costs at multiple locations
Branch Manager – Nariman Point
ICICI BANK
Mumbai
2002.04 - 2003.10
- Responsible for overseeing daily operations at the company's largest pan-India retail branch, which had the highest book size and included four extension counters
- Ensured effective management and supervision of a team that consistently exceeded customer service goals, leading to the capture of ₹1000 crore+ in savings account deposits
- Developed strategies to increase customer satisfaction and loyalty
- Conducted regular performance reviews for all employees in the branch
Branch Manager – Ghatkopar
ICICI BANK
Mumbai
1999.08 - 2002.03
- Streamlined retail banking branch operations by effectively managing a 9-member team and forging strong relationships with global, non-resident Indian (NRI) investors
- Contributed significantly to the launch of Infosys' first digital banking software (Finacle) in 1999 by leading comprehensive user acceptance testing (UAT), effectively identifying and resolving bugs
- Supervised branch operations on a daily basis, ensuring efficient execution of customer service, sales and marketing functions
- Consistently tracked financial performance of the branch on a monthly basis
- Developed and implemented robust internal control procedures to maximize profitability while mitigating risks
Education
Master of Management Studies - Marketing
PRIN L.N. WELINGKAR INSTITUTE OF MANAGEMENT
MumbaiBachelor of Science - Chemistry
D.G RUPAREL COLLEGE
MumbaiSkills
- Banking
- Financial Services
- Insurance
- Start-Up & Enterprise Operations
- Mutual Funds
- Asset Management
- Wealth Management
- Customer Experience (CX)
- Strategic Planning
- FinTech
- Project & Process Management
- Digital Payments & Innovation
- Cost Reduction
- Strategic Partnerships
- Cross-Functional Leadership & Collaborations
Affiliations
Association of Mutual Funds of India (AMFI), Key Committee Member, 2010-2020
Websites
Certification
- Blockchain Revolution in Financial Services, INSEAD, 2022
- Securities Industry Essentials (SIE), Financial Industry Regulatory Authority (FINRA), 2021
- Certified Financial Planner (CFP), Financial Planning Standards Board (FBSB) of India, 2020
- Mutual Fund Distributors Continuing Professional Education Program, National Institute of Securities Market (NISM), 2020
- Claritas Investment Certificate, CFA Institute, 2016
- Successfully Guiding Project Leaders, Nippon India Mutual Fund (NIMF), 2016
- Design Thinking for Nurturing Innovation, Indian Institute of Management Ahmedabad (IIMA), 2016
- Lean Six Sigma Champion, Benefits Management Group, Inc. (BMGI), 2015
- Seven Habits for Highly Effective People, ICICI Bank, 2007
Speakingengagements
- Financial Planning for Retail Investors, Banda Rupaya National Television Program, 2023
- Round Table on Digital Transformation for Asset Management and Insurance Industries, Deutsche Bank and Dun & Bradstreet, 2018
- Anti-Money Laundering Summit, Fintelekt, 2016-2018
Publications
The Importance and Process of Goal-Based Financial Planning, Loksatta Indian Express Group Newspaper, 2023
Timeline
President and Group Head Operations
360 ONE Wealth & Asset Management
2023.09 - Current
Head of Global Strategy and Operations
CYBRILLA TECHNOLOGIES
2022.10 - 2023.09
Chief Operations Officer (COO) / Executive Director
WHITEOAK CAPITAL INVESTMENT MANAGEMENT
2021.02 - 2022.10
Chief of Operational Excellence & Service Delivery
NIPPON LIFE INDIA ASSET MANAGEMENT LIMITED (NAM INDIA)
2009.09 - 2021.01
Deputy General Manager
ICICI BANK
2005.11 - 2009.09
Regional Head of Branch Banking
ICICI BANK
2003.11 - 2005.09
Branch Manager – Nariman Point
ICICI BANK
2002.04 - 2003.10
Branch Manager – Ghatkopar
ICICI BANK
1999.08 - 2002.03
- Blockchain Revolution in Financial Services, INSEAD, 2022
- Securities Industry Essentials (SIE), Financial Industry Regulatory Authority (FINRA), 2021
- Certified Financial Planner (CFP), Financial Planning Standards Board (FBSB) of India, 2020
- Mutual Fund Distributors Continuing Professional Education Program, National Institute of Securities Market (NISM), 2020
- Claritas Investment Certificate, CFA Institute, 2016
- Successfully Guiding Project Leaders, Nippon India Mutual Fund (NIMF), 2016
- Design Thinking for Nurturing Innovation, Indian Institute of Management Ahmedabad (IIMA), 2016
- Lean Six Sigma Champion, Benefits Management Group, Inc. (BMGI), 2015
- Seven Habits for Highly Effective People, ICICI Bank, 2007
Master of Management Studies - Marketing
PRIN L.N. WELINGKAR INSTITUTE OF MANAGEMENT
Bachelor of Science - Chemistry
D.G RUPAREL COLLEGE
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