Faisal Ahmed Khan
WIRE PAYMENT INVESTIGATOR
Summary
Experienced in improving operations and increasing workflow efficiency, using critical thinking and multitasking skills to ensure accurate payment processing at Wells Fargo and HSBC. Familiar with ISO 20022 standards, including PACS.009, PACS.008, and PACS.004, with the ability to manage changing banking rules, solve problems, and improve productivity
Overview
10
10
years of professional experience
Work History
SENIOR OPERATIONS PROCESSOR
Wells Fargo
10.2021 - 05.2024
- Have hands-on experience on ISO 20022.
- Daily responsibilities involve processing various payment-related tasks, such as fund returns, amendments, cancellations, beneficiary claims for non-receipt, debit authority requests, and Unable to Apply Inquiries. Handle these tasks by sending specific SWIFT messages, including MT199, MT299 to acquire information and MT192 and MT292 message to initiate cancellation requests, depending on the nature of the inquiry from the remitting or beneficiary bank message types are used.
- When the beneficiary bank is unable to apply the payment, I ensure the funds are returned to the remitting bank. This requires effective communication and collaboration with both banks involved. My role demands accuracy, timely follow-ups, and careful management of payment discrepancies.
- Responsible for carefully reviewing MT103, MT202, and MT202 COVER payment messages and fund movements, covering both incoming and outgoing transactions. This includes verifying that each payment is processed accurately according to the specified instructions.
- Re-effecting payments, In scenarios where the Beneficiary Bank (BBK) is unable to credit the funds (resulting in a return of funds) or if the Remitting Bank (RBK) requests a change in the beneficiary bank, we are required to recall the funds and re-effect the payment according to the updated instructions.
- I have consistently demonstrated excellence in both quality and productivity, leading to my certification as a Quality Checker.
- Supported management through thorough reporting on key performance metrics related to operations processing activities.
- Streamlined operations by identifying and eliminating inefficiencies in the processing
- Familiar with the latest ISO 20022 banking regulations, where PACS.008 is used for credit transfer instructions, which may include both instructions and funds when the receiving institution has a correspondent banking relationship with the originating bank or when the funds are routed through an intermediary bank to reach the final recipient. PACS.009 facilitates the transfer of funds between financial institutions and may also include remitter, beneficiary and purpose of payment information for compliance purposes. Additionally, PACS.004 is used to specify the reason for the return of funds.
Process Investigator
HSBC
07.2018 - 10.2021
- Actively worked with a variety of SWIFT message types, including MT103, MT202, MT202 COV, MT292, MT199, MT299, and MT192, to facilitate smooth and efficient payment processing.
- My experience also extends to handling Unable to Apply (UTA) Beneficiary Change Requests (BCNR), Return of Funds (ROF), ensuring that all instructions are executed accurately and in a timely manner.
- Process includes reconciling payments, for example when the payment credited to BBK using different reference in field 20 other than the original reference by system BBK might not be able to determine the payment however similarly.
- Successfully managed the processing and reconciliation of MT103 and MT202 payments, ensuring accurate alignment between payment cover and instructions, despite reference discrepancies caused by multiple intermediary banks in the transaction chain For example, MT103 and MT202 COV may have differing references due to intermediary banks. Reconciliation is done by matching fields like value date, amount, and beneficiary details.
- If unable still to identify reached to parties involved in the payment chain to acquire the correct reference to reconciled.
- Proactively engaged with parties in the payment chain to obtain the correct reference for reconciliation when discrepancies could not be resolved through standard processes.
Senior Process Executive
Cognizant Technologies Solutions
08.2014 - 04.2018
- I worked with a U.S. client called Hartford, specializing in Property and Casualty Insurance across various segments, including Key Accounts, Construction, Marine, and Specialty Programs.
- The process involves updating new and renewal policies, inputting data into the system based on any changes that arise, and amending renewal policies as necessary. This includes adjustments for new locations, increases in shipments, or if a location falls within a tornado-prone area.
- I independently managed the Specialty Program segment for an extended period while also training my peers. This segment often lacked clearly defined coverage categories, requiring me to thoroughly verify each policy using an ACCORD form. Based on the information provided, I processed the policies to ensure accurate coverage and compliance.
Education
BACHELOR OF COMMERCE
S.D SIGNODIA COLLEGE OF ARTS AND COMMERCE
HYDERABAD06-2012
Skills
MS Excel, MS Word, Intellitracs
Timeline
SENIOR OPERATIONS PROCESSOR
Wells Fargo
10.2021 - 05.2024
Process Investigator
HSBC
07.2018 - 10.2021
Senior Process Executive
Cognizant Technologies Solutions
08.2014 - 04.2018
BACHELOR OF COMMERCE
S.D SIGNODIA COLLEGE OF ARTS AND COMMERCE
Similar Profiles
PATRICIA M. SCHERERPATRICIA M. SCHERER
Regional Bank Private Banker II at Wells Fargo Bank / Wells Fargo AdvisorsRegional Bank Private Banker II at Wells Fargo Bank / Wells Fargo Advisors
Andrew S. HollenbachAndrew S. Hollenbach
Collateral Valuation Analysis at Wells Fargo Home Mortgage and Wells Fargo Bank NACollateral Valuation Analysis at Wells Fargo Home Mortgage and Wells Fargo Bank NA
Laxmikanth ChittampallyLaxmikanth Chittampally
Senior Operational Processor at Wells Fargo India Solution PVT Ltd, Wells FargoSenior Operational Processor at Wells Fargo India Solution PVT Ltd, Wells Fargo
Mayank OberoiMayank Oberoi
Financial Accounting Associate/ Alteryx SME at Wells Fargo International Solutions Private LTD (Wells Fargo)Financial Accounting Associate/ Alteryx SME at Wells Fargo International Solutions Private LTD (Wells Fargo)
Sandhiya VSandhiya V
Senior Operations Processor at Wells FargoSenior Operations Processor at Wells Fargo