Karan Bole
Senior Reconciliation Executive
Mumbai
Summary
Results-driven finance operations professional with nearly 10 years of experience in reconciliation, settlement, and banking operations across leading Financial Institutions and Fintech firms. Proven expertise in end-to-end reconciliation of GL accounts for multiple payment products including IMPS, VISA, NFS, BBPS, UPI, Rupay, and MasterCard, ensuring 100% financial accuracy. Strong command over fund flow monitoring, transaction exception managing, and customer refund and recovery processes, reducing ageing entries and improving operational efficiency. Hands-on experience in Payment Gateway (PG) operations, managing UPI and Net Banking transactions, MIS reporting, and refund processing in a real-time, high-volume environment. Competent in coordinating with finance, compliance, and vendor teams for GL proofing, BRS preparation, audit documentation, vendor payments, and monthly provisioning. Successfully implemented manual reconciliation frameworks and contributed to automation using tools like Ember Match Point and Osfin AI, reducing vendor dependency and improving turnaround time. Strong analytical and interpersonal skills, proficient in tools like Tally ERP 9, with experience managing large datasets, fraud tracking, and generating actionable MIS for senior stakeholders.
Overview
10
10
years of professional experience
1
1
Certification
3
3
Languages
Work History
Senior Reconciliation Executive
Osfin AI
11.2025 - Current
- Established long-term client relationships through consistent delivery of high-quality products and services.
- Enhanced customer satisfaction by streamlining communication channels and improving response times.
- Developed innovative solutions to complex problems, resulting in improved organizational performance.
- Mentored junior staff members for accelerated career growth, developing future leaders within the organization.
- Interviewed, recruited and trained new onboarding candidates.
- Streamlined reconciliation procedures by identifying inefficiencies and implementing process improvements.
- Supported system upgrades and software implementation projects, contributing to seamless transitions with minimal disruption to daily operations.
- Assisted in the development of performance metrics, tracking KPIs related to reconciliation accuracy and timeliness for continuous improvement purposes.
Deputy Manager
IDFC First Bank Ltd.
03.2024 - 11.2025
- Spearheading reconciliation processes for critical GL accounts including IMPS, IMPS FINO & ATYATI, VISA, NFS, and BBPS, ensuring financial accuracy and compliance.
- Managing customer refunds, recoveries, and settlements across multiple payment channels with strict adherence to defined TATs.
- Conducting daily monitoring and reconciliation of BBPS GLs, including end-to-end SAL file processing to support uninterrupted transaction flow.
- Executing monthly provision for open entries and generating detailed ageing reports to maintain transparency and track unresolved items.
- Preparing weekly reports on open credits specific to alternate banking channels like ATYATI and FINO for timely resolution and escalations.
- Providing comprehensive support to the FSS (Financial Software and Systems) team in executing reconciliation, refunds, and settlement activities.
- Responding to customer queries via email, offering prompt resolutions and enhancing customer satisfaction through efficient service.
- Designed and implemented a manual IMPS GL reconciliation process, successfully eliminating vendor dependency and increasing process control.
- Ensured consistent and accurate financial reporting and audit readiness, while collaborating cross-functionally with operations and finance teams.
- Achievements:
- Successfully automated the reconciliation process for digital products, resulting in reduction in processing time and a significant decrease in manual errors.
- Developed a comprehensive reporting framework that improved visibility into reconciliation activities, leading to enhanced decision-making and operational transparency.
- Played a pivotal role in the transition of reconciliation processes in-house, projected to save the organization in operational costs annually.
- Identified areas for improvement within the department, implementing strategic initiatives to address gaps in performance or resources.
Reconciliation Specialist
Indialideas.com Ltd. (Billdesk.com)
03.2023 - 03.2024
- Executed the reconciliation of UPI and Net Banking transactions for major banking partners, ensuring accuracy and timely processing of financial data.
- Managed the daily tracking of funds received from various banking channels, both claimed and non-claimed, to maintain accurate financial records.
- Generated and distributed daily management information system (MIS) reports, providing insights into transaction statuses and open summaries for senior management review.
- Addressed customer inquiries regarding transaction statuses, collaborating with the customer support team to ensure prompt and accurate responses.
- Monitored and resolved exceptions identified during the reconciliation process, ensuring that all discrepancies are addressed and closed in a timely manner.
- Collaborated with finance teams to track and close exceptions created during summary closures, ensuring accurate financial reporting.
- Engaged in continuous improvement initiatives to enhance reconciliation processes and reduce discrepancies in financial reporting.
- Maintained comprehensive documentation of reconciliation activities to support audit processes and compliance requirements.
Deputy Manager
RBL Bank Ltd.
06.2018 - 02.2023
- Managed daily reconciliation and settlement processes for Visa, NFS, Rupay, IMT, and MasterCard networks (issuing & acquiring), ensuring accuracy and timely resolution.
- Led automation of reconciliation and settlement activities through vendor tool 'Ember Match Point,' improving process efficiency and accuracy.
- Handled debit card fraud claims, coordinating with Vigilance, IT, Contact Center, and Acquiring Banks for CCTV and documentation, ensuring resolution within defined TAT.
- Oversaw insurance claim processing with ICICI Lombard, including documentation, claim follow-ups, and GL reconciliations.
- Raised and managed chargebacks for domestic and international POS/ECOM fraud transactions, along with daily fraud and insurance GL reconciliations.
- Processed customer credits for failed/declined transactions and disputes related to IMT, ATM, and card transactions via Service First platform.
- Coordinated vendor onboarding, invoice processing, provisioning, budgeting, and ensured timely clearance of payments and penalties.
- Prepared and published periodic MIS reports (weekly/monthly/quarterly) on fraud, IMT transactions, failed transactions, and customer compensation for internal stakeholders and compliance.
- Conducted monthly BRS, MOC, GL proofing activities, and uploaded reports to GL Proofing Portal while coordinating with Finance and International Reconciliation Units.
- Acted as the key liaison with branches for customer-specific issues including account closure, alternate account adjustments, and recovery-related matters.
Office Executive
RBL Bank Ltd. (Contract of Care Facilities Management Services (CFMS))
12.2015 - 05.2018
- Facilitated the end-to-end procurement process, from purchase order creation to payment reconciliation, ensuring compliance with organizational policies and procedures.
- Coordinated with vendors to ensure timely delivery of assets across PAN India, maintaining strong relationships to support procurement activities.
- Maintained comprehensive records of procurement activities, including approvals, quotations, and vendor confirmations, to support audit processes.
- Managed the renewal process for AMC and rate contracts, ensuring timely renewals and compliance with organizational standards.
- Engaged in vendor management activities, ensuring that all necessary documentation is collected and maintained for compliance purposes.
- Prepared and shared monthly budget reports with finance teams, ensuring alignment with organizational financial goals.
- Supported the monthly capital commitment process, ensuring accurate reporting and compliance with financial policies.
Education
B.Com. - undefined
Clara's College of Commerce, Mumbai University
01-2015
Skills
Financial Compliance Standards
Digital Payment Solutions
Risk Management
Operational Efficiency Optimization
Vendor Management
Customer Experience Enhancement
Banking Operations Management
Financial Transaction Analysis
Process Improvement
Strategic Financial Planning
Leadership
Cross functional team collaboration
Problem Solving
Result Oriented
Certification
ITIL (Information Technology Infrastructure Library) Certification (92.80%)
Section name
Pursue opportunities that foster professional development and leverage expertise in banking, finance, and FinTech payment gateways, while thriving in a stimulating and evolving work environment.
Timeline
Senior Reconciliation Executive
Osfin AI
11.2025 - Current
Deputy Manager
IDFC First Bank Ltd.
03.2024 - 11.2025
Reconciliation Specialist
Indialideas.com Ltd. (Billdesk.com)
03.2023 - 03.2024
Deputy Manager
RBL Bank Ltd.
06.2018 - 02.2023
Office Executive
RBL Bank Ltd. (Contract of Care Facilities Management Services (CFMS))
12.2015 - 05.2018
B.Com. - undefined
Clara's College of Commerce, Mumbai University