Mehul Koshti
Ahmedabad,GJ
Summary
Dedicated Payments Processing and Investigator specializing in SWIFT, Fed, and Chips payments across the EMEA region. Proven track record of ensuring seamless fund movements based on client instructions, consistently exceeding service standards. In-depth knowledge of payment flow, MT and MX Swift messaging and adept at handling high-value transactions. Agile team player proficient in FPS, Global pay plus, Swift Alliance, Flexcube, Finacle, Global Business System, Global Reconciliation System, and Sanctions/OFAC. Committed to adhering to SLA's with a strong emphasis on productivity, turn-around-time, and accuracy.
Overview
9
9
years of professional experience
Work History
Payment Analyst
Bank Of America Merrill Lynch
Gandhinagar, GJ
05.2021 - Current
- CMS Wire Transfer Investigations provides cash management services for Merrill Lynch clients on inbound and outbound transaction and handling incoming ACH payments.
- Effective and efficient booking of non-STP incoming wires all currencies through mainframe database application and work on UAT testing for non STP wires.
- Having fair knowledge of Payment flow, Swift message types MT 101, MT 103, MT 202 and MT 202 cover payment and other swift message.
- Investigation and research on branch/client queries on incoming and outgoing wires.
- Providing due diligent assistance to clients and BANA wire investigations, for quick resolution of client's enquiries.
- Giving confirmation to foreign exchange department on Incoming FX conversion after analyzing.
- Processing trace, return, recall, amendment and cancellation requests per branch request in Swift4ml application.
- Sending and receiving Swift MT199 messages to/from correspondent banks via wire investigations team for further course of action.
- Work with sanctions/AML (Anti Money Laundering) teams if any wire is in hold for any further requirements from client.
- Send swifts to beneficiary banks if KYC details are requested.
- Monitoring outstanding debit and credit balance in various suspense account. Escalate to LOB if any recon breaks/overdraft in client's account.
- Passing Journal Entries to offset debit/credit recon breaks post validating all parameters advised by internal / external counter parties to ascertain information.
- Booking and execute Trade in Money Market apart from that Call booking & Cash booking.
- Supporting in PB Payment processing (Middle office job)
Senior Process Associate
Tata Consulting Services
08.2018 - 04.2021
- Working in CITI Bank(South Africa country) process responsible for Fund transfer for Corporate Banking- Domain.
- Processing fund transfer which includes MT 103, MT 202,MT 202 COV, MT 199 and MIFT as well.
- Processing transfer of funds which includes Local currency Outgoings and Incoming Payments which is been initiated in Flexcube and also check Sanction screening (OFAC).
- Processing foreign Currency Payments & checks which is been initiated in Citidocs and Flexcube.
- Booking deals on e-dealer and follow up with treasury team to obtain rates.
- Applying controls for MIFT (Manually initiated fund transfer). Verifying signature and screening document for high value payments.
- Nostro Account Reconciliation.
- Coordinating with other departments like CitiService, Compliance team, Treasury & Trade groups for the smooth running of operations
Core Applications – Flex cube, Recon Frontier, Systematic, Citidocs, Citi direct, Orbiflow and other Applications – GBS (Global bank search), GI (Global Interdict), Sanctions/OFAC
Assistant Manager
Axis Bank
02.2017 - 08.2018
- Managing a portfolio of over 1200 Premium Clients & high-net-worth individuals , Exceeding in deposit Goals by 140% while selling services like savings accounts, current accounts, deposits, investments, loans, mortgages and demat.
- Portfolio management with cross sell of various products like Working Capital CC/OD/LC/BG/Term loan, Credit cards, Accounts, Fixed deposits, etc. to increase customer wallet share with bank.
- Accurately assessing clients financial needs for purpose of formulating a business plan and delivering effective variety of financial products, liabilities and assets
- Executed customers transactions including deposits , withdrawal, money order & checks.
Executive
Stock Holding Corporation Of India Limited
05.2015 - 01.2017
- Collected and analyzed financial data and stayed up-to-date with current laws and regulations.
- Versed in sophisticated derivative strategy and tactics including arbitrage, volatility, hedging, option, algorithmic trading systems, large block wholesale trading.
- Communicated with key clients and provided professional financial advice and recommendations to them.
- Handling Government authorized E-stamping services.
- Cross selling of other products like Demat, Broking Services, Mutual Fund, Gold Rush FD, NPS.
Education
MBA - Business Management/Finance
Gujarat Technological University
Ahmedabad, India05.2015
BBA - Business Management
Gujarat University
Ahmedabad, India05.2013
High School Diploma -
GHSEB
Ahmedabad, India05.2010
SSC -
GSEB
Ahmedabad, India05.2008
Skills
- Exceptional customer service
- Cash Management Service
- International funds transfer process expertise
- Cash dispenser operation
- Operations management
- Strong sense of banking ethics
- Supervision and training
- Practiced knowledge of bank security systems
- Complex problem solving
Certifications
- ISO 20022 and Swift MX & MT Messages by Udemy
- Introduction to Anti-Money Laundering Regulations by Alison
- Agile Job Simulation by JP Morgan & Chase Company
- Excel Skills Job Simulation by JP Morgan & Chase Company
Accomplishments
- Processed over 40% of the wires for ML International Payments, at 99.94% accuracy, for the 2023 year.
- Increased annual revenue by 10% by creating effective strategies to expand existing customer services and making additional checks to mitigate risk.
- Integrated a more well rounded and thorough training and orientation program for new hires, as well as updated the ongoing training plan.
- Making additional parameter and try to reduce manual work and focus on automation so reduce manpower and saves cost.
- Performance rewards quarterly while employed at the Federal Reserve Bank.
Timeline
Payment Analyst
Bank Of America Merrill Lynch
05.2021 - Current
Senior Process Associate
Tata Consulting Services
08.2018 - 04.2021
Assistant Manager
Axis Bank
02.2017 - 08.2018
Executive
Stock Holding Corporation Of India Limited
05.2015 - 01.2017
MBA - Business Management/Finance
Gujarat Technological University
BBA - Business Management
Gujarat University
High School Diploma -
GHSEB
SSC -
GSEB
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