Summary
Overview
Work History
Education
Skills
Languages
Personal Information
Affiliations
Accomplishments
Timeline
Generic

Ishwar Kumbar

Bengalore

Summary

Seeking a professional platform to put in my skills and abilities to the effective utilization, and to enhance my knowledge and contribute towards organization growth by high quality work.

Overview

9
9
years of professional experience

Work History

Financial Crimes Specialist

Wells Fargo International Private Limited
Bengalore
04.2024 - Current
  • Conducting a QA check on completed new and existing different types of client KYC files (such as Individuals, Corporations, Partnerships, Joint Ventures, Special Purpose Vehicles, and Funds). Trust, etc., as per the established quality framework, and meet the required agreed SLAs.
  • Responsible for the verification of client data, end-to-end understanding of KYC operations from documentary and non-documentary verification as per the CIP policy, nature of business, SOW/SOF, PEP analysis, bearer share analysis, and World Check name screening analysis.
  • Review ownership drill-down (Ultimate Beneficial Owner) and other related parties, such as directors, Auth. Signatories, traders, corporate officers, etc. According to the policy requirements.
  • Review and highlight the policy and procedural requirements if there are any defects.
  • Maintain awareness of Regulatory/FCC policy updates, and incorporate the process and procedural changes in the KYC review process.
  • Complete the QA reviews in a timely manner by maintaining the highest quality standards.
  • Make recommendations on process improvements to increase efficiency and accuracy.
  • Framing Procedures and Checklists for the Existing/New Process.
  • Conducting training for the operations team, coaching the junior team members, and providing guidance in exception handling.
  • Undertake Quality Control reviews to test the validity and appropriateness of, and business compliance with, financial crime policies and procedures.
  • Provide support and scoring guidance to quality assurance staff by answering questions on regulations, compliance, procedures, policies, and First Call Resolution.
  • Escalate key maintenance errors identified during the scoring process and ensure the resolution of the same, reviewing programs, processes, and documentation to ensure compliance with internal company requirements or government regulations.
  • Review systems to ensure company standards are met, exceptions are notated, and issues are escalated as necessary.
  • Prepare calibration scores, and facilitate calibrations across the team to ensure consistency of quality scores delivered to clients, and monitor quality assurance programs and processes to identify gaps and risk assessments.

Quality Checker

JP Morgan Chase India Private Limited
07.2022 - 03.2024
  • Perform data gathering and analysis for new client onboarding, periodic reviews for High and Medium and Low clients.
  • Review all trigger events related to existing clients, where required gather additional supporting documentation.
  • Performs KYC on different type of customer types such as Publicly Traded Companies, Limited Companies, Unconventional, Small Privately Held customers, Large Privately held Customers, Partnership entities, Trusts, Funds and BODRs.
  • Performs due diligence in ADD (Account due diligence), TAR (Transactional activity Report), HAR (Historical Activity Report), PDD (Product due diligence) on high risk and transactional products offered by JP Morgan.
  • Verifies all aspects of Client Identification Program (CIP) and necessary account opening documents are provided and in accordance with know Your Customer (KYC), USA Patriot Act and Bank Secrecy Act (BSA) standards.
  • Identifies accurate risk rating for individual/non-individual accounts to highlight high risk jurisdictions, cash intensive/high risk businesses and Politically Exposed Persons (PEPs) or Relatives or Close Associates (RCAs).
  • Completes extensive due diligence investigations using public and private databases in accordance with Anti-Money Laundering (AML), BSA and other regulatory standards to assist business units and prevent operational and reputational risks.
  • Performs checks on all employees, consultants, vendors, contractors and third-party advisers against World Check Risk Screen, FinCEN list, and OFAC Specially Designated Nationals List (SDN) and Blocked Persons list.
  • Conducts Enhanced Due Diligence research in attempts to find derogatory/background information used to aid client advisors' decisions in initiating, maintaining or closing business relationships.
  • Handles Canada, UK, EMEA region LDDs (Local Due Diligence) along with corporate (US) clients.
  • Handling different projects which include Data Remediation, Deactivation of Clients in systems and KYC controller.
  • Ability to effectively document findings through accurate summaries.
  • Identify the data entry errors in systems and escalating it to the onshore team for corrections.
  • Address any issues, questions and problems in accurate and timely manner.
  • Conducts reviews of bank customers (individuals/entities), related parties (owners, board of directors, executives) and/or transactions that present a moderate degree of complexity and risk to determine appropriateness for banks.
  • Performs non-documentary Customer Identification Program on domestic customers in accordance with regulations and bank policy.
  • Perform review activities that will provide reasonable assurance that controls are designed and operating effectively. Ensure all review results are stored in standard formats.

Consultant

Capco Technology PVT LTD
05.2018 - 07.2022
  • Conducting Know your customer compliance process for Wholesale processes in line with the requirements of the United States of America Patriot Act as well as banks corporate Anti-Money Laundering and Bank Secrecy Act policy requirements.
  • The escalation form & EDD memo in used to escalate material adverse information and PEP hits to local AFC.
  • Escalation to local AFC is performed by CLM by completing the escalation fields within the AFC escalation form & EDD Memo. The business may be required to provide input for CLM to complete the Escalation fields.
  • Any rationale from the business should be included in the AFC escalation form & EDD Memo which in turn should be shared with the business to ensure accuracy.
  • Undertake AML and sanction/PEP screening, on-boarding due diligence checks and ongoing monitoring ensuring that consistent processes are followed in line with global strategy and requirements.
  • Ensure sanction/PEP screening are conducted and accurate course of action is taken.
  • Pick up relevant samples for data quality exception to assure compliance with as prescribed in the Quality Control framework requirements.
  • Carry out complex research/investigations to confirm whether the potential matches to global sanctions lists are actual matches according to laid down guidelines.
  • Knowledge of sanctions and politically exposed persons screening systems and transaction monitoring systems. Financial Crime investigation, prevention and/or detection work preferably in the financial services or asset management industry.
  • Providing compliance support for projects and initiatives with low to high risk to identify, assess and mitigate Bank Secrecy Act and Anti-Money Laundering risk in business activities.
  • Analysing risks on escalated, referred, or alerted negative news; communicate negative findings to lines of business and supply guidance on course of action.
  • Identify and research the patterns, trends, and anomalies in transactional and customer data to detect, prevent, mitigate, and report suspicious activity related to money laundering and terrorist financing.
  • Provides compliance support for projects and initiatives with low to high risk to identify, assess and mitigate BSA/AML risk in business activities.
  • Having working knowledge of MS Excel knowledge of SQL, Macros and preparing MI reports and daily, weekly, monthly reports etc.

CDD Analyst

HSBC Electronic Data Processing Pvt Ltd
07.2016 - 04.2018
  • Performed Customer Due Diligence through periodic or event driven reviews to ensure that customer's information and documentation is kept up to date.
  • Assessed the initial risk rating of the customer by analyzing the country risk, legal entity structure, business type and the products used by the customer.
  • Assessed the initial KYC documentation and engaging the Relationship Manager to get relevant customer data and determined the CDD requirements for on-boarding new customers and monitoring existing relationships.
  • Screened the customers, its key controllers, UBOs, etc. Performed Sanctions screening, PEP identification and Negative Media searches via Lexis-Nexis, World Check, RDC (Regulatory Data Crop) and Google.
  • Obtained approvals to determine if the customer must be on-boarded/retained or exited and keeping a complete documentation of the remediation done on identifying the deficiency.
  • Prepared KYC Due Diligence profiles on a wide range of entity types such as Corporations, Partnerships, Trusts, NPOs, Embassies and Sole Proprietor, etc.
  • Escalated the positive and potential hits about the sanction, PEP and negative media searches and preparing the documents.
  • Identifying the Customers Risk Rating and if the account is active or inactive.
  • Performing customer due diligence for CMB, GMB and WM clients (Such as Corporate, Sole Trader, Partnership, Trust, Funds, NBFI etc).
  • Completing the remediation process for existing to bank customer's file as per the trigger events & as per business requirements.
  • Performing end to end remediation of the customer's account, analyzing data document & negative news to know the risk rating of customer's profile as established under the CDD procedures.
  • Performing Screening process for customers & individuals and analyze what risk they pose to the bank. Such as PEP's, dealing in sanction countries, negative news and take judgment and escalate the issue to FCC is required.
  • Performing EDD (Enhance Due Diligence) following Global Standards and procedures. If there were any issues identified, raising the issues to RM, Team Lead or FCC team if required.
  • Completing the remediation process by using the appropriate template.
  • Handling onshore Email & Queries and responses by the RM's and Escalating issues if identified and in a correct manner.

Education

MBA -

Chetan Business School
Hubli, Karnataka
01.2014

BCOM -

CSI College of Commerce
Dharwad, Karnataka
01.2011

PUC -

Kittal Arts and Commerce College
Dharwad, Karnataka
01.2008

SSLC -

SJS High School
Hubli, Karnataka
01.2006

Skills

  • Customer Due Diligence (CDD)
  • Customer Identification Programme (CIP)
  • Politically Exposed persons (PEPs)
  • Sanctions check
  • Enhanced due diligence (EDD)
  • Anti Financial Crime
  • Lexis-Nexis
  • World-Check
  • Regulatory compliance
  • Problem solving
  • AML software proficiency
  • Enhanced due diligence
  • Team training
  • Process improvement
  • Risk assessment
  • KYC compliance
  • Customer due diligence
  • Quality assurance

Languages

  • English
  • Kannada
  • Hindi

Personal Information

  • Date of Birth: 07/26/89
  • Gender: Male
  • Marital Status: Married

Affiliations

  • Taking initiative in resolving process-related issues, finding the root cause, working on it to improve, and implementing the process, structured, process-oriented, and looking forward to learning new things about the process
  • Handling critical issues and putting an action plan in place to improve the process involving several training sessions and knowledge transformation of the team, mapping client requirements, and rendering effective solutions

Accomplishments

  • Achieved 98% in the quality assessment of the KYC files processed, awarded the Spot Excellence Award and financial reward several times.
  • Received several appreciation emails from onshore partners, managers, and higher management

Timeline

Financial Crimes Specialist

Wells Fargo International Private Limited
04.2024 - Current

Quality Checker

JP Morgan Chase India Private Limited
07.2022 - 03.2024

Consultant

Capco Technology PVT LTD
05.2018 - 07.2022

CDD Analyst

HSBC Electronic Data Processing Pvt Ltd
07.2016 - 04.2018

MBA -

Chetan Business School

BCOM -

CSI College of Commerce

PUC -

Kittal Arts and Commerce College

SSLC -

SJS High School

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Ishwar Kumbar