Faisal Ahmed Khan
WIRE PAYMENT INVESTIGATOR
Hyderabad
Summary
Proven in streamlining operations and enhancing workflow efficiency, I leveraged critical thinking and multitasking abilities at Wells Fargo to ensure precise cross-border payment processing. My expertise in ISO 20022 and swift adaptation to international banking regulations underscore my capability to solve complex problems and optimize 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 work includes processing Return of funds, Amendment, Cancellation, Beneficiary Claims Non Receipt, Debit Authority, Unable to Apply. Where I needed to send MT199, MT299, MT192, and MT292 messages for acquiring information or requesting cancellations or providing information requested by either the remitting bank or the beneficiary bank, basing on the nature of the inquiry received, and returning funds if the Beneficiary Bank is unable to apply.
- Responsible for meticulously reviewing MT103, MT202, and MT202 COVER payment messages, encompassing both incoming and outgoing instructions. This involves verifying that each payment is processed in strict accordance with the specified instructions, ensuring accuracy.
- 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.
- Back Valuation, changing value date to previous dates to adjust interest or for bank record purposes.
- Future Value Date, to ensure that the payment is processed and credited on the specified date, rather than being executed immediately or on the date the funds are debited from the originating party's account.
- Responsible for the reconciliation of cross-border payments in multiple currencies, ensuring that debit and credit outstanding entries are accurately matched. A key aspect of the role involved verifying that no payment leg (either debit or credit) was missing, to avoid any 'out of pocket' situations for our institution, as well as ensuring that the customer’s bank or counterparties did not incur any losses. This process included the validation of Nostro and Vostro accounts..
- 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
- In the recent update concerning international banking regulations, I have worked with PACS.008 (Payment Instructions and Cover) and PACS.004 (Payment Status Report, which may include returns of funds).
Process Investigator
HSBC
07.2018 - 10.2021
- Investigated the root cause of payments failing to clear through the Straight Through Processing (STP) system.
- Actively worked with a variety of SWIFT message types, including MT103, MT202, MT191, MT199, MT299, and MT192, to facilitate smooth and efficient payment processing. My experience also extends to handling Urgent Transfer Applications (UTA) and Beneficiary Change Requests (BCNR), ensuring that all instructions are executed accurately and in a timely manner.
- I have actively participated in FATF (Financial Action Task Force) inquiries, specifically involving investigations initiated by the Beneficiary Bank (BBK) regarding the originator's address and other pertinent details. This process involved gathering and verifying essential information to ensure compliance with international anti-money laundering (AML) standards and regulations.
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 - Commerce
S.D SIGNODIA COLLEGE OF ARTS AND COMMERCE
Hyderabad 04.2001 -
Skills
Quick Learner
Problem solver
Adaptability and Flexibility
Critical Thinking
Workflow Optimization
Multitasking Abilities
Decision-Making
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 - Commerce
S.D SIGNODIA COLLEGE OF ARTS AND COMMERCE
04.2001 -