Summary
Overview
Work History
Education
Skills
Certification
Additional information
Timeline
Generic

Harshvardhan Somani

CSS, Assistant Vice President
Pune

Summary

Bringing over a decade of expertise in Investment Banking Operations, Financial Crime Compliance, Sanction Screening, and Business Integration, posses experience in ISO 20022 MT to MX migration from Sanctions screening standpoint. Recognized for adeptly ensuring regulatory adherence and streamlining operational processes. Proven track record in risk management, process enhancement, and strategic implementation. Dedicated to fostering operational excellence and upholding top-tier quality and compliance standards.

Overview

13
13
years of professional experience
2012
2012
years of post-secondary education
2
2
Certifications
3
3
Languages

Work History

Assistant Vice President, Sanctions Screening

Citicorp Services India Pvt Ltd
08.2022 - Current
  • Led the business integration and implementation of Citi payment systems with in-house sanctions screening engines and UI, ensuring full compliance with the company’s sanctions policy and standards.
  • Verifying data completeness according to project requirements, and proactively addressing any sanction gaps.
  • Collaborate with stakeholders to design and implement end-to-end sanctions workflow processes for customer and transaction sanctions screening, involving subject matter experts from ideation to UAT, PVT, Tech Go-Live, and Business Go-Live.
  • Played a pivotal role in the successful migration of the sanctions screening solution for Axis Bank, as part of the Citi-Axis Bank selloff deal.
  • Contribute significantly to the migration and implementation of the sanctions screening process for the ISO 20022 MX migration from the MT format, ensuring seamless continuity of operations.
  • Implement sanctions screening logics for the screening engine based on the ISO 20022 message standard and SWIFT standard, introducing efficiencies such as intelligent screening and context-based screening, and decision re-application.
  • Developed a comprehensive catalogue for MT1XX, MT2XX, MT4XX, MT5XX, and MTn99 messages, as well as Pacs.008, Pacs.009, Seev, and Sese MX messages, documenting critical data elements essential for sanctions screening.
  • Implement screening rules based on the type of transactions (domestic/cross-border) to enhance the overall screening process, resulting in improved efficiency.

Senior Associate

Goldman Sachs Services
04.2014 - 08.2022
  • - Reviewed (L2 Level) all incoming and outgoing SWIFT payments for Sanctions concerns using applications such as Fircosoft and Compliance Link.
  • - Leveraged internal and external sources of information to identify the origin and beneficiary of transactions and evaluate the purpose of the payment.
  • - Followed appropriate measures as per SOPs and escalated to FCC team for close and true matches on payments, and freezing the account in case of a true match.
  • - Oversaw payment controls functions including sanctions control and liaised with AML compliance team to resolve payment exception risk.
  • - Screened client’s reference data for sanctions concerns using Compliance link (L2 Level) and utilized various sources like World Check, Accurint, Bankers Almanac, and internet searches for customer analysis.
  • - Conducted quality checks for comments inserted by teams and highlighted key areas of improvement from an audit standpoint.
  • Treasury Cash Management and Payment Operations
  • - Managed cash settlements of the firm held in different bank accounts globally and in multiple currencies, specifically in EMEA and US markets.
  • - Monitored and managed the firm’s bank relationships and liquidity management.
  • - Oversaw daily cash payments and settlements for the revenue-making division of the firm, specifically in the accounts receivables function.
  • - Handled different SWIFT messages (DVP/DEL/RVP/REC), derivative (options, future, swap), lending and borrowing (stock loan and bulk lending, stock collateral management), and compliance to operational risk and regulations.

Process Analyst

XL Dynamics India Pvt. Ltd., Navi Mumbai
08.2012 - 09.2013
  • - Served as a Process Analyst in the Docs Department.
  • - Reviewed and analyzed loan applications post underwriting reviews, ensuring compliance and identifying discrepancies.
  • - Calculated maximum allowable loan amounts for clients based on the accurate appraised value of subject property, credit scores of applicants from Equifax, Transunion, Experian, and back-end and front-end ratios.
  • - Conducted analysis of previous liens and payment patterns for refinances.

Education

MBA/PGDM - Finance

ICFAI Business School

B.Tech/B.E. - Electronics/Telecommunication

Gokaraju Rangaraju Institute of Engineering and Technology

Skills

  • Sanctions Screening
  • Business Analysis
  • Treasury Operations
  • Business Integration
  • Payments Operations
  • ISO 20022 MX Migration

Certification

Certified Sanctions Specialist, ACSS

Additional information

Languages: English, Hindi, Telugu

Timeline

Assistant Vice President, Sanctions Screening

Citicorp Services India Pvt Ltd
08.2022 - Current

Senior Associate

Goldman Sachs Services
04.2014 - 08.2022

Process Analyst

XL Dynamics India Pvt. Ltd., Navi Mumbai
08.2012 - 09.2013

B.Tech/B.E. - Electronics/Telecommunication

Gokaraju Rangaraju Institute of Engineering and Technology

MBA/PGDM - Finance

ICFAI Business School

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Harshvardhan SomaniCSS, Assistant Vice President