Summary
Overview
Work History
Education
Skills
Product Knowledge
Key Highlights
Achievements And Awards
Personal Information
Languages
Career Abstract
Co Curricular Skills
Timeline
Generic

Jay Sorathiya

Mira Road

Summary

Seeking assignments in Operations Management, Process Migration, Process Design and Implementation with a reputed organization.

A result oriented professional with 15+ years of experience in the areas of Operations Management, Process Migration, Risk Management and Quality Assurance & Client Servicing in Investment Banking. Currently working with BNP Paribas, leading Equity Swaps Settlements, FX & MM Settlement & CLS Settlement. Have acquired a wide exposure on different products like Foreign Exchange, Equity Swaps, and OTC Rates Derivatives. Managed the migration for Equity Swaps from BNP Paris to BNP Mumbai in May 2021, FX & MM from Barclays Johannesburg to Barclays Mumbai in 2014. FX &MM, 3rd Party platforms and CLS matching Settlements from Barclays NY to Barclays Mumbai in 2017.

Reliable Manager demonstrating high level of ownership and initiative. Possessing exceptional work ethic and desire to go above and beyond to exceed company expectations. Offering knack for building productive working relationships. Successful in fast-paced, deadline-driven environments to manage goals and team development. History of thriving in team-oriented environments.

Overview

18
18
years of professional experience

Work History

Manager- Synthettic Prime Brokerage project, FX MM Settlements and Investigations

BNP Paribas
05.2021 - Current
  • Lead team which supports Equity Swaps Settlement and FXMM Settlements.
  • Responsible for successful individual to partner, coordinate and drive progress across global teams and different business areas as well as partner closely with key stakeholders and colleagues around the firm.
  • Resolving BAU related escalation, Operational Risk and control, Trade settlement and Reconciliation.
  • CLS Settlement, IN OUT SWAP.
  • Working with various Internal and External stakeholders to resolve issues, Process Improvement.
  • Verifying and Approving Manual Payments, Aged breaks.
  • Controller for SOP and procedure.
  • Managing project issue log and risk plan with increased focus on schedule, scope, business and technical risk.
  • Perform trade settlement of FX Derivatives products (e.g. FX Cash, Money Market, CLS Settlements).
  • Approve EOD controls reporting global handover reports of outstanding Settlement exceptions to global stakeholder.
  • Operate as the escalation contact for both internal and external client queries and liaise with various business areas and front-to-end support teams to seek resolution.
  • Deliver effective controls and services to upstream and downstream business functions.
  • Support project & new product initiatives and assist with the implementation of strategic deliverables for the business from an operational perspective.
  • Collaborate with global counterparts and different stakeholders to drive opportunities for process development and improvements.
  • Build and maintain strong relationships with business colleagues across trading, Finance, Operations and Technology.
  • Migration of Synthetic Prime Brokerage Settlements process from Paris.
  • Handling of projects on various applications and schedule daily meetings and update the progress on UAT.
  • Schedule meetings and sending timely reports on progress of upcoming release.
  • Make sure all the issues are reported in a timely manner during the phase between UAT and go live.
  • Have handled projects for four asset class which includes Synthetic Prime Brokerage Settlements, OTCD Rates Settlements, Equity structure and flow Settlements and FX MM Settlements.

Assistant Manager - FX Cash confirmations and Settlements

Barclays Bank PLC
05.2014 - 05.2021
  • Verify and process payment Wire Transfer In/Out (Mt103 and 202), Cash/check transactions.
  • Provide Operational support to traders, front offices and clients by meeting payment/settlement cut of time.
  • Assist in setting up client SSIs for new clients and if any changes on SSIs with existing clients.
  • Liaise with front office, traders, customers, corresponding agents via email or phone on settlement issues.
  • Perform end to end UAT testing on back of changes in banking payment systems or for any new enhancements on internal softwares.
  • Set up of new accounts and funds on all the 3rd party vendor platform clients.
  • Responsible for matching trades in CLS by monitoring CLS GUI adhering to currency cut offs.
  • Perform CLS projections on a daily basis to avoid any NOSTRO breaks.
  • Review Settlement Instructions on Swift MT300 confirmations and approve trades on a daily basis.
  • Resolving queries on emails/calls raised by clients on all the financial and Settlement instructions discrepancies.
  • Assist Investigations and Settlements team on SSI related queries before currency cut offs.
  • Chasing Sales desk/Clients to confirm all Unconfirmed FX and MM trades via Swifts (MT300/ MT320) or Paper Confirmation (Email/ Fax).
  • Liaising with Internal Desks (FO, MO, and PB) in case of missing trades from our end, to ensure trades are booked on time and there are no issues with settlement of fund.

Team Member - Derivatives and Currencies Operations

JPMorgan Services India Pvt. Ltd.
08.2010 - 05.2014
  • Expertise in Preparing MIS, Analysis and Reporting of numbers and issues, Trade life cycle and intense knowledge of the product/process, query handling skills with faster turn-around time, Email management skills, out of the box thinking capability and the zeal to achieve targets and streamline the process via process improvements and automation.
  • Responsible for affirmation and execution of confirmation of NDF & FX option trades done with all counterparties and dealers across the globe.
  • Execution of paper confirmations include various legal language expertise and co-ordination with internal legal teams.
  • Highlight areas of risk items and get the RCSA updated.
  • Understand the regulatory environment and the impact it will have on the firm's operating model, facilitate stakeholder engagement (internal escalation) and ultimately ensure regulatory deadlines are met by knowing the rules and adhere to them.
  • Optimize our resources and infrastructure, working across teams, to deliver competitive advantage to the firm.
  • Proactively suggest enhancements to deliver a strong cost effective Operations functions and drive them until closure.
  • Understand the needs of both internal and external clients and ensure we are aligned to support them by constantly looking to improve client service.

Assosicate-Handle High Networth Individual clients

Reliance Securities. Ltd.
09.2009 - 08.2010
  • HNI Dealer for Equity, Futures and Options.
  • Handling Reliance money's Nationwide based HNI clients. Advising client's on market scenario.
  • Providing them Research calls.
  • Placing orders on behalf of clients on Equity, Futures and Options transactions.
  • Interacting with Research Analysts through Reuters chat window and generate revenue for the client.
  • Solving queries of clients via e-mails or phone post market closure.

Assosicate-Handle High Networth Individual clients

Syntel Global Pvt. Ltd.
06.2007 - 09.2009
  • HNI Dealer for Equity, Futures and Options.
  • Handling Reliance money's Nationwide based HNI clients. Advising client's on market scenario.
  • Providing them Research calls.
  • Placing orders on behalf of clients on Equity, Futures and Options transactions.
  • Interacting with Research Analysts through Reuters chat window and generate revenue for the client.
  • Solving queries of clients via e-mails or phone post market closure.

Education

Bachelor in Commerce -

Mumbai University

Higher Secondary Certificate (HSC) -

Maharashtra Board

Secondary School Certificate( SSC) -

Maharashtra Board

Skills

  • Settlement & reconciliation
  • Process Improvement
  • SOX Audit support
  • Operations Management
  • Projects
  • Team Management
  • Process Migrations
  • Foreign Exchange
  • Money Market
  • CLS Settlement
  • Equity Swaps
  • OTC Market
  • Trade Settlements
  • Synthetic Prime Brokerage
  • Root Cause Analysis
  • Static updates
  • Knowledge sharing
  • Interpersonal skills
  • Customer service
  • Trade settlement
  • FX settlements
  • Project management
  • Process improvement
  • Operational risk management
  • Client relationship management
  • Cross-functional collaboration
  • Effective communication
  • Team leadership
  • Issue resolution
  • Operations management
  • Recruiting and interviewing

Product Knowledge

  • Foreign Exchange
  • Money Market
  • CLS Settlement
  • Equity Swaps
  • OTC Market
  • Trade Settlements
  • Synthetic Prime Brokerage

Key Highlights

  • Netting Project - Received White Belt Certification for creating a macro to prepare netting reports and this save 30 minutes per day for the process.
  • Aliasing on Proposed Queue - Received Just Do It certification for increasing STP rate by aliasing on Back office system for correct Settlement Instructions, saved 88 hours per month.
  • FX Allege Project - Root Cause Analysis of o/s confirmations to identify key drivers leading to manual matching. Static was then correctly updated at clients end to STP all the future trades for four clients.

Achievements And Awards

  • Received a team award, FX gladiators and Champ of the quarter for Q2 for productivity and efficiencies displayed by team on the process, product, people and the controls side.
  • Received Extra miler award in 05/11 for getting the o/s no's over 30 days down by 8% and appreciation for good client service from the middle office.
  • Received ACE award for the month of 12/11 for achieving the FED targets in spite of huge volumes and 2 people short on the desk.

Personal Information

Date of Birth: 10/08/81

Languages

  • English
  • Hindi
  • Marathi

Career Abstract

A result oriented professional with 15+ years of experience in the areas of Operations Management, Process Migration, Risk Management and Quality Assurance & Client Servicing in Investment Banking. Currently working with BNP Paribas, leading Equity Swaps Settlements, FX & MM Settlement & CLS Settlement. Have acquired a wide exposure on different products like Foreign Exchange, Equity Swaps, and OTC Rates Derivatives. Managed the migration for Equity Swaps from BNP Paris to BNP Mumbai in 05/21, FX & MM from Barclays Johannesburg to Barclays Mumbai in 2014. FX & MM, 3rd Party platforms and CLS matching Settlements from Barclays NY to Barclays Mumbai in 2017.

Co Curricular Skills

  • People SPOC for the floor
  • Conducting knowledge sharing sessions, Friday games and volunteering for corporate events and parties

Timeline

Manager- Synthettic Prime Brokerage project, FX MM Settlements and Investigations

BNP Paribas
05.2021 - Current

Assistant Manager - FX Cash confirmations and Settlements

Barclays Bank PLC
05.2014 - 05.2021

Team Member - Derivatives and Currencies Operations

JPMorgan Services India Pvt. Ltd.
08.2010 - 05.2014

Assosicate-Handle High Networth Individual clients

Reliance Securities. Ltd.
09.2009 - 08.2010

Assosicate-Handle High Networth Individual clients

Syntel Global Pvt. Ltd.
06.2007 - 09.2009

Bachelor in Commerce -

Mumbai University

Higher Secondary Certificate (HSC) -

Maharashtra Board

Secondary School Certificate( SSC) -

Maharashtra Board

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Jay Sorathiya