HITESH SHAH
Hyderabad
Summary
Performance-driven Vice President with 20 years of experience aligning systems with business requirements, policies, and regulatory requirements. Passionate about applying excellent organization and communication skills to manage and lead teams. Results-oriented individual well-versed in interfacing and consulting on business processes to drive results based on sound overall business judgment.
Overview
20
20
years of professional experience
1
1
Certification
Work History
Vice President, Firmwide Party Reference Data
JP Morgan
3 2020 - Current
- Leading & managing a team which is responsible for Creation & Maintenance of Party reference data for Institutional clients onboarded globally
- Interact and build relationship with global middle office stakeholders to ensure smooth onboarding of clients
- Implemented PEGA based workflow solution to enhance tracking & transparency
- Implemented “Client Segment” based operating model to align the teams as per business focus
- Worked closely with change team to support regulatory projects such as AMLD5 (Lux), NCMR etc
- Part of global transformation program to enhance KYC control on trading platforms by leveraging strategic reference data identifiers
- Working on "AI" based doc digitization project to eliminate document review
- Expanded India footprint by setting up a new team in Bangalore
- Led cross-functional teams for the successful completion of major projects, resulting in increased efficiency and client satisfaction
- Identified opportunities to improve business process flows and productivity leveraging Low-code tools
- Managed financial planning and budgeting processes, headcount & hiring controls
- Ensured regulatory compliance at all times by implementing robust internal controls systems coupled with proactive monitoring mechanisms
- Cultivated strong relationships with key stakeholders, including customers, vendors, regulators, and community leaders to promote collaboration and long-term success.
Head of Client Onboarding – Edelweiss Custodial Services
Edelweiss
2018.01 - 2020.03
- Key responsibilities include managing new Client onboarding for FPIs, PMS / AIF’s, brokers for Custody & Trading set up
- To ensure appropriate due diligence is undertaken for foreign clients as per SEBI FPI guidelines before grant of FPI registration
- Established Middle office "Client outreach" function within the team to expedite onboarding
- Reduced of TAT via simplification of process steps across FPI (40%) & LAS (60%)
- Digitized the Onboarding workflow to improve TAT and customer experience
- Automated Demat account opening process for domestic custody clients leading to significant efficiency gains & improved turn-around time
- Worked on internal control project to implement ISO standards for the process
- Liaise with Compliance to document exceptions (if any)
- Handled SEBI & RBI yearly audit & ensured no High-risk findings/gaps in the process.
- Self-motivated, with a strong sense of personal responsibility.
Senior Manager – KYC Onboarding, Renewals & Remediation – Top Global Investment bank
Wipro BPS
2017.01 - 2018.01
- Key responsibilities included: Managing teams spread across 3 locations i.e., Mumbai, Pune and Kuala Lumpur engaged in Onboarding and periodic renewals
- Assist with capacity planning / forecasting for team as required
- Liaise & build strong partnerships with other groups where there are dependencies
- Deliver against agreed targets in terms of quality and productivity
- Ensuring all KYC Client Onboarding requests are handled by the team as per the TAT
- Help define and closely monitor operational metrics relating to volume, efficiency, and quality measures.
Senior Manager – KYC Onboarding, Renewals & Instrument data set up – Large French Investment bank
Wipro BPS
2014.06 - 2016.12
- Established strong relationships with clients and stakeholders, ensuring long-term partnerships and repeat business.
- Conducted a front to back review of the KYC process, identified process gaps and designed the future state model in conjunction with Bank’s Senior Management, in order to streamline the process globally
- Managed KYC Client Onboarding and renewals of files in 8 foreign languages
- Ensuring all KYC Client Onboarding requests are handled by the team as per the TAT
- Improved the Client Satisfaction scores via consistent service delivery and improved communication and trust.
- Held monthly meetings to create business plans and workshops to drive successful business.
Assistant Vice President- Entity Ref Data, KYC
HSBC
2012.06 - 2013.05
- To Ensure all client Legal Entities are verified before Onboarding them to facilitate accurate Credit/Counterparty risk & regulatory reporting
- Initiated monthly 'Voice of Business' survey to measure Customer satisfaction and take remedial actions
- Established a Data Quality & Remediation team to remediate Legacy data
- Was part of the HSBC talent pool for consistent top performance.
Site Head, Client Onboarding , KYC & CRM
HSBC
2010.09 - 2012.06
- Collaborated with the change delivery teams to develop the new Entity & static data workflow on PEGA
- Created Annual operating plans & business case for increase in headcount & budgets
- Built a robust business contingency site to reduce Operational risk
- Implemented strong controls across the teams which resulted in successful FSA audit
- Increased the team size from 50 to 130 staff across Static data, reference data, KYC services & CRM teams
- Established a training academy in the new site to enhance knowledge levels of the team & staff motivation.
Manager Operations - Data Maintenance & SSIs
HSBC
2008.04 - 2010.08
- Successfully transitioned SSI process from UK to the service center (GSC)
- Spearheaded Omgeo Alert automation/re-engineering leading to USD 200000 cost savings
- Undertook Requirement gathering, Analysis & UAT for strategic projects involving workflow deployment, Conversion tools (for moving a/cs from one entity/region to another)
- Planned & monitored the training program for the new BCP site in KL, Malaysia
- Was part of the HSBC's 'Talent pool' for consistent top performance
- Won the 'Business Leader' of the year award.
Assistant Manager Operations - Data Maintenance- FX& Derivatives
HSBC
2006.06 - 2008.03
- Managed a team of 10 staff members
- Worked as a SME for a Strategic Trading platform migration project for the FX business
- Streamlined procedures and improved the quality of work which led to significant reduction in Op’s losses.
Associate -Data Maintenance & SSIs
HSBC
2004.09 - 2006.05
- Built expertise on Client Onboarding and setting up of SSI & Accounts across FX, Derivatives, Fixed Income and Equities
- Trained 15 new joiners across asset classes.
Education
MBA/PGDBA in Finance -
SCDL, Pune, India
Bachelor of Commerce in Office Management - undefined
University Of Mysore, India
Skills
KYC / Client onboarding
Certification
PRINCE2 Practitioner (PROJECT MGMT) – 2010
Accomplishments
- KYC/AML Knowledge: Thorough knowledge of KYC Onboarding & renewals process for FPIs & PMS
- Project Management / Automation: Developed a low code automated queue management system for prioritization of requests
- Process Improvement: Developed an automated checklist for Custody clients onboarding as per SEBI requirements
- Client Relationship Management: Set up & led Client outreach team for Cash equities desk
- Risk Management: Enhanced Risk Control Assessments to manage the operational risk which resulted in successful Group / External Audit
- Transition management: Set up a team of 100+ for KYC remediation process in across 2 locations
Timeline
Head of Client Onboarding – Edelweiss Custodial Services
Edelweiss
2018.01 - 2020.03
Senior Manager – KYC Onboarding, Renewals & Remediation – Top Global Investment bank
Wipro BPS
2017.01 - 2018.01
Senior Manager – KYC Onboarding, Renewals & Instrument data set up – Large French Investment bank
Wipro BPS
2014.06 - 2016.12
Assistant Vice President- Entity Ref Data, KYC
HSBC
2012.06 - 2013.05
Site Head, Client Onboarding , KYC & CRM
HSBC
2010.09 - 2012.06
Manager Operations - Data Maintenance & SSIs
HSBC
2008.04 - 2010.08
Assistant Manager Operations - Data Maintenance- FX& Derivatives
HSBC
2006.06 - 2008.03
Associate -Data Maintenance & SSIs
HSBC
2004.09 - 2006.05
Vice President, Firmwide Party Reference Data
JP Morgan
3 2020 - Current
MBA/PGDBA in Finance -
SCDL, Pune, India
Bachelor of Commerce in Office Management - undefined
University Of Mysore, India
PRINCE2 Practitioner (PROJECT MGMT) – 2010
Similar Profiles
Taya HuggerTaya Hugger
Lockbox Data Entry (Contingent) at JP MorganLockbox Data Entry (Contingent) at JP Morgan
Cathy ChowdhuryCathy Chowdhury
Summer Analyst - Corporate Banking Division at JP MorganSummer Analyst - Corporate Banking Division at JP Morgan
Deepika ShettyDeepika Shetty
Associate - Regulatory Oversight at JP MorganAssociate - Regulatory Oversight at JP Morgan