Summary
Overview
Work History
Skills
Timeline
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Mufadal Shahpurwala

Mufadal Shahpurwala

Pune East

Summary

  • Prudent, disciplined and self-motivated leader/individual contributor with 16+ years of extensive experience in the areas of, control testing and regulatory assurance within banking and financial services, specializing in the insurance and pensions industry
  • Subject matter expert in ‘Risk and Compliance’ and domain knowledge in Operational Risk, Regulatory Compliance, Audit planning and field work for Compliance and Risk based activities
  • Demonstrate strong adherence toward firm’s reputation / safeguarding its clients, and assets by ensuring compliance with applicable laws, rules and regulatory changes
  • Excellent communication and interpersonal skills to deal confidently and work effectively with a range of stakeholders across the globe
  • Advanced skills in data analytics and business intelligence tools e.g. Tableau and Excel to prepare interactive dashboards, actionable insights

Overview

19
19
years of professional experience

Work History

Assistant Vice President

Citibank
08.2022 - Current
  • Conduct internal audits for data warehouses, transaction monitoring and complex business rules for 400+ product processor and five monitoring platforms across EMEA, NAM, LATAM and APAC regions
  • Perform control testing for all high and medium risk activities and sample testing for transaction level activities
  • Provide expert regulatory advise and conduct gap analysis to ensure client remains compliant with relevant regulations of ML, Fraud, Financial Crime, PEP checks and provide guidance to business/product/support/technology functions on transaction monitoring from regulatory perspective
  • Develop rules based on business scenarios and worked in AML modules like Customer Segmentation, Threshold tuning, Alert generation and Post validation
  • Engage with clients to understand their unique needs and goals, developing tailored strategies to address their specific AML and Financial Crime (Regulatory) challenges
  • Lead and support digital transformation projects to enhance clients' internal processes and systems by implementing technology for e.g Tableau, ServiceNow & Agile Methodology
  • Collaborate with technology team and support the development of analytical models with the effective use of data and analytic techniques and validate the model results and articulate the insights to the business team
  • Contributed to business development activities like creating proof of concepts (POCs), point of views (POVs), and capable of developing creative interactive dashboards using Tableau & Power Point content for presentations

Manager – Compliance and Risk Management

Tata Consultancy Services
09.2018 - 08.2022
  • Implement and manage an effective legal compliance program with sound knowledge of UK regulators FCA, OFT/FOS, EU GDPR, tPR and HMRC
  • Preparing audit documentation including planning checklists, minutes of meetings, requirement gathering, Terms of Reference (ToR), Risk Control Matrix (RCM), issue logs, dependencies, draft and final reports
  • Co-ordinating with various functions across locations and group divisions for walkthroughs & audit fieldwork, reviewing issues to identify themes and root causes, agreeing the audit deliverables and timelines, preparing the Group Audit Report and ensuring closure of all deliverables
  • Monitoring industry news, tools and trends while suggesting potential risks and providing inputs for the Group Audit Plan taking into account risks, current & emerging issues
  • Work with leadership to meet the organisation goals and advise management on the company’s compliance, laws and regulations through detailed reports and align with internal/external stakeholders for delivery
  • Create and manage effective action plans in response to audit findings and compliance violations and ensure timely completion of findings using the concept of RCA and preventive controls for repetitive discrepancies

Analyst – Operational Risk

Capita Offshore Management Services
09.2015 - 02.2017
  • Co-coordinating with the offshore and onshore business units and group functions for understanding process in terms of Operational, Legal, Regulatory, Client and Contractual requirements
  • Conduct end-to-end reconciliation of high value transactions of money in/out process, review MI of data source to detect red flags, unusual patterns, suspicious transactions and ensure controls embedded in monitoring system are working effectively as per system design and solutions
  • Preparing the yearly divisional audit plan taking into account risks, current & emerging issues, recent changes, previous audit reports, regulatory requirements, financial exposure and complexity
  • Take ownership to support end to end operations function by adhering to risk control standards as defined by the Independent Risk and Compliance management
  • Support business in identification, assessment and mitigation of regulatory risks and suggest remedial actions
  • Feed business and make them understand regulatory updates impacting their processes

Process Leader – Life and Pensions Claims and Servicing

Capita Offshore Management Services
04.2013 - 08.2015
  • Subject matter expert for Royal London Pensions Claims and Servicing
  • Conduct day to day activities for e.g. Floor walking, process quality audits, allocation of work, complaints investigation and monitoring of breaches
  • Validating legal documents for cases relating to Power of Attorneys, Pension Sharing Orders and Confiscation orders
  • Motivate, mentor, coach and share knowledge with team to meet departmental (KPIs) and SLAs
  • Preparing documentation, business process manuals and work instructions for the process
  • Best practice sharing across various processes enabling reduction in errors & to negate revenue loss for the client, if any
  • Performing process mapping to evaluate process steps, suggest improvements via technology or via automations in order to increase efficiency and strengthen control steps

Senior Executive – Pensions Claims

Capita Offshore Management Services / Prudential Process Management Services (India) Ltd
06.2006 - 03.2013
  • Along with processing transfer claims and assisting policyholder, third party and financial adviser on Pensions queries, performed Quality Audits for the team and provide feedback for the same
  • Budding support to new entrants and under performers and help them deliver and make them understand the process better and provide performance related feedback to entire team
  • Timely updates given to colleagues about the changes and dealt with cases on priority
  • Was part of 'Productivity Enhancement Projects' as licensed in all tasks
  • Awarded star of the month/quarter on several occasions and received star of the quarter Process Leader award for Quarter III 2014
  • Nominated for productivity enhancement projects and gave ideas to improve the performance for my team as well as other teams in the organization

Skills

  • Conduct comprehensive control testing, including evaluating the design and testing effectiveness of internal controls
  • Seasoned testing specialist covering regulatory compliance and business operations across various sectors
  • Subject matter expert in regulatory assurance focusing on identifying compliance risks, implementing corrective actions
  • Perform testing to validate controls under operational conditions and deliver detailed reports on testing outcomes, recommendations, and compliance alignment

Academic

  • 2003-2004 : Bachelor of Commerce from Mumbai University
  • 2013-2014 : Certified CF1 and FA2 from the Chartered Insurance Institute (UK)

Achievements

  • Tableau - procured license of Tableau Server, trained team and implemented interactive dashboards and data visualizations to help users understand complex data in graphical and storytelling format
  • Agile Methodology - Led the design and execution of Agile Release Training programs, streamlined project management resulting reduction in delivery cycle timelines, improving team collaboration and productivity by 30% Trained 20 team members across departments, fostering an Agile mindset and enhancing overall project delivery quality
  • Promoted from band 4 to 5 in the pandemic year of 2021 (for detecting significant volumes of account takeovers and protecting loss of clients’ money)
  • Recognised for assisting IT team in designing and testing a microflow tool to immediately report security events / incidents to senior management

Timeline

Assistant Vice President

Citibank
08.2022 - Current

Manager – Compliance and Risk Management

Tata Consultancy Services
09.2018 - 08.2022

Analyst – Operational Risk

Capita Offshore Management Services
09.2015 - 02.2017

Process Leader – Life and Pensions Claims and Servicing

Capita Offshore Management Services
04.2013 - 08.2015

Senior Executive – Pensions Claims

Capita Offshore Management Services / Prudential Process Management Services (India) Ltd
06.2006 - 03.2013

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Mufadal Shahpurwala