Hitesh Vats
Summary
Assistant manager (Team Leader) with 11 years of work experience in Financial and banking services domain with different Multi national companies.
Currently experienced AML Anti money laundering Compliance & Fraud investigation Team Leader with a proven track record of leading team and having skills in regulatory AML Anti money laundering compliance, fraud transaction investigation, chargeback processing, Enhanced due diligence, customer due diligence, KYC and risk assessment. I have worked for international banks and their regulatory authorities and processes ( US banks, Canada, UK, UAE banks & APAC region ) and Seeking a professional role where I can leverage my expertise and bring my experience into work to mitigate organizational and their financial processes risks and enhance compliance due diligence to safeguard against fraudulent and money laundering activities. Excelling in communication, problem-solving, analytical thinking and team management which enhance towards more efficient and effective results and achievements.
Overview
11
11
years of professional experience
Work History
Assistant manager ( Team Leader)
Concentrix
09.2024 - Current
- Handling a team Lead role, managing and mentoring a team of AML/Compliance professionals.
- Oversee the implementation and execution of AML compliance.
- Managing end to end fraudulent transactions dispute settlement process.
- Identifying and Investigating fraud transactions on the bank accounts of the customers and business entities.
- Monitoring team performance and providing regular feedback and stay up to date on industry best practices.
- Processing Chargebacks on the fraudulent transactions according to the Visa and Master Card guidelines.
- Reconciles chargebacks in accordance with approved guidelines.
- Effectively resolving all claims in an accurate and timely manner and reviewing and analysing claim processing standard operating as needed.
- Responsible for preparing and validating monthly chargeback customers and suppliers reports.
- Identifying and monitoring the suspicious transactions behavior which could indicate money laundering activities or other financial crimes.
- Resolving Customers and Merchants queries on the dispute settlement.
- Investigating customers involved in terrorist financing and are located in sanctioned countries.
- Processing L1 Level 1 and Level 2 alerts in order to check whether the suspicious transaction monitoring alert can be discontinued or it is true.
- Conducting Enhanced Due Diligence and Customer Due Diligence on the medium and high risk customers.
- Identifying and verifying customers financial background and source of funds.
- Writing investigative narratives and SAR Suspicious activity reports.
- The case is further processed for final approval to the Visa or Master card authorities and onshore team for final approval.
- Assisted in developing training programs for new team members.
- Coordinated daily operations to enhance team efficiency and productivity.
- Supported management in implementing process improvements across departments.
- Facilitated communication between teams to ensure project alignment and collaboration.
- Monitored performance metrics to identify areas for improvement and training needs.
- Organized team meetings to discuss goals, challenges, and strategies for success.
- Provided ongoing feedback and mentorship to junior staff members for skill development.
- Ensured compliance with safety regulations and company policies.
- Conducted regular performance reviews for employees to identify areas of improvement.
- Implemented quality control measures to uphold company standards.
- Coordinated workflow among team members to optimize efficiency and productivity.
- Implemented process improvements to streamline operations and reduce response times.
- Monitored call metrics using company systems to ensure adherence to quality standards.
- Resolved escalated customer issues by collaborating with cross-functional teams for solutions.
- Participated in regular meetings with senior leadership to provide updates on team progress.
- Fostered a culture of continuous improvement, encouraging innovation and efficiency.
- Ensured compliance with legal and regulatory requirements in all team activities.
- Implemented strategic plans to enhance team performance and productivity.
Senior Research analyst
Crisil limited
06.2022 - 03.2024
- Identifying and monitoring Fraudulent transactions on suspicious accounts of USA banks.
- Tracking and analyzing financial transactions in real time basis.
- Creating red alerts for suspicious activities onto suspicious bank accounts.
- Monitoring suspicious transactions in order to prevent Anti money laundering AML activities.
- Analyzed transaction patterns and customer behavior to identify emerging fraud trends.
- Investigating financial crimes and analyzing data for suspicious activity, and ensuring compliance with relevant regulations.
- Investigated flagged and fraudulent transactions according to the regulatory authorities.
- Creating SAR, suspicious activity report in order to highlight the fraud trends.
- Analyzing large datasets using tools to identify trends and anomalies indicative of illicit activity.
- Processing ACH payments and identifying suspicious transactions on accounts.
- Resolving Customers, clients and Merchants queries based on dispute settlement.
- Creating risk report and dashboard for leadership.
- Investigating potential violations of AML/CTF regulations and performing risk assessments.
- Conducting primary and secondary research on suspicious Accounts and transactions.
- Conducted comprehensive market research to support client investment strategies.
- Analyzed economic data to identify trends impacting various sectors.
- Collaborated with cross-functional teams to develop insightful reports and presentations.
- Evaluated financial models to assess risk and return profiles for clients.
- Mentored junior analysts on research methodologies and data interpretation techniques.
- Utilized advanced statistical tools to enhance data analysis accuracy and efficiency.
- Presented findings to stakeholders, facilitating informed decision-making processes.
- Gathered primary data through surveys, interviews and focus groups to gain insight into customer attitudes towards products or services.
- Managed day-to-day operations within the research department while ensuring compliance with company policies.
- Developed detailed reports and presentations for stakeholders outlining findings from qualitative and quantitative analysis.
- Collaborated with cross-functional teams to ensure successful implementation of research initiatives.
Senior process associate
Quite financial technologies
09.2021 - 06.2022
- Transaction monitoring
- Monitoring fraudulent transactions.
- Inbound call processing related to fraudulent transactions on customer's credit and debit card.
- Processing Pre-arbitration on disputed transactions.
- Reviewing, analysing and identifying indicators of potential money laundering financing activities.
- Onboarding and monitoring clients.
- Doing primary and secondary research on the clients for suspicious activities.
- Managing compliance
- Creating SAR reports
- Streamlined process workflows to enhance operational efficiency across financial technology services.
- Mentored junior associates on best practices and effective process management techniques.
- Conducted regular audits of processes to ensure compliance with industry standards and regulations.
- Created reports on process performance metrics for senior management review.
- Collaborated with team members on projects related to process optimization initiatives.
- Developed and implemented process improvement initiatives to reduce customer wait times.
- Implemented quality assurance measures to ensure accuracy of information collected from customers.
- Generated weekly and monthly reports summarizing key performance indicators associated with customer service activities.
- Resolved escalated issues from customers in a timely manner while ensuring satisfaction with solutions provided.
- Developed operational policies, procedures, and standards.
- Monitored operations and reviewed records and metrics to understand company performance.
Senior process associate
Fiserv India
07.2019 - 08.2021
- Identifying and Investigating fraud transactions on credit and debit cards of USA banks.
- Monitoring fraudulent transaction activities on bank accounts.
- Transaction monitoring
- Monitoring suspicious Anti money laundering AML activities on accounts.
- Processing ACH payments.
- Resolving Customers, clients and Merchants queries on dispute settlement and fraud prevention.
- Accounts payable
- Accounts receivable
- Credit risk management
- Managing end to end compliance and transaction monitoring process.
- Streamlined process workflows to enhance operational efficiency across financial technology services.
- Analyzed data trends to identify areas for process improvement and optimization initiatives.
- Conducted regular audits of processes to ensure compliance with industry standards and regulations.
- Coordinated communication between departments to ensure alignment on project objectives and timelines.
- Monitored team performance and provided coaching when needed.
- Created reports on process performance metrics for senior management review.
- Collaborated with team members on projects related to process optimization initiatives.
Process associate
Genpact
01.2015 - 01.2019
- Detect and investigate fraud transactions and manage end to end dispute settlement process.
- Identifying and verifying fraudulent transactions.
- Processing Pre-arbitration for disputed transactions.
- Identifying fraud trends.
- Resolving Merchants and Customers queries on dispute settlement and fraudulent transactions.
- Transaction monitoring and creating risk assessment portfolio.
- Creating suspicious activities report SAR.
- Managed daily workflow to ensure process efficiency and accuracy.
- Collaborated with cross-functional teams to resolve client issues promptly.
- Analyzed data to identify trends and recommend process improvements.
- Reviewed documentation for compliance with company standards and policies.
- Participated in regular team meetings and provided input on ways to improve existing processes.
- Resolved customer service inquiries within established time frames while maintaining a high level of quality assurance.
- Performed data entry tasks to update customer records and maintain accuracy of information.
- Maintained accurate records of all transactions related to processes in accordance with company guidelines.
- Identified potential risks associated with processes and recommended corrective actions.
- Analyzed key performance indicators to identify effective strategies.
Education
Masters in business administration -
Jagannath university
Bachelor of business administration -
Shobhit university
Skills
- Fraud transactions investigation and prevention
- Managing and preventing Anti money laundering activities
- Compliance management
- Identifying high risk customers
- Identifying PEP Politically exposed person
- Identifying AML Anti money laundering activities
- Sanction screening
- Financial crime prevention
- FATF Financial action task force policies
- Transaction monitoring
- Filing SAR Suspicious activity reports
- Customer and client support
- Risk assessment
- Knowledge of FinCen regulations
- Worked with international clients and processes
- Inbound voice
- Outbound voice
- Problem solving skills
- Team management skills
- Anti Terror Fraud investigation
- Financial transaction investigation
- Chargeback processing
- AML compliance
- Data analysis
- Process optimization
- Team leadership
- Employee performance evaluations
- Microsoft office expertise
- Due diligence
- Documentation review
- Federal and state regulations
- Risk management strategies
- Sanctions compliance
- Compliance monitoring
- Fraud & Dispute resolution
- Transaction review and analysis
- Risk level determination
- Fraud trend and patterns analysis
- Fraud risk management
- Customer dispute resolution
- Credit risk assessment
- Banking operations
- Payment processing
- Stakeholder collaboration
- Customer due diligence
- Know your customer
- Enhanced due diligence
- Legal research
- Office of foreign assets control regulations OFAC
- Bank secrecy act compliance
- Research analysis
Custom
- Hindi
- English
Personal Information
- Gender: Male
- Nationality: Indian
Languages
English
Advanced
C1
Hindi
Proficient
C2
Timeline
Assistant manager ( Team Leader)
Concentrix
09.2024 - Current
Senior Research analyst
Crisil limited
06.2022 - 03.2024
Senior process associate
Quite financial technologies
09.2021 - 06.2022
Senior process associate
Fiserv India
07.2019 - 08.2021
Process associate
Genpact
01.2015 - 01.2019
Masters in business administration -
Jagannath university
Bachelor of business administration -
Shobhit university