Navinkumar Balachandiran
Financial Crime Compliance
Chennai
Summary
"Financial Crime Compliance professional with extensive experience (16+ years) in AML Transaction Monitoring, KYC, and Fraud Prevention Operations. Skilled in managing teams, implementing effective monitoring systems, conducting audits, and ensuring regulatory compliance. Proven track record of improving process efficiency, enhancing client experience, and achieving high customer satisfaction. Strong ability to train and develop team members to meet job requirements. Seeking a challenging role in a dynamic organization to utilize my skills and contribute to the growth of the company."
Overview
16
16
years of professional experience
3
3
years of post-secondary education
4
4
Certifications
Work History
Vice President of Operations
Accenture Solutions Private Limited
Chennai
10.2015 - Current
- Overseeing a team of 500+ FTEs handing the AML Transaction Monitoring, KYC adherence of bank customers during on-boarding; Fraud operations – Check & Card disputes.
- Analyzing (ATM, RDC, Branch) check transactions to prevent exposure on fraudulent money (Reg CC Standards), New Account Opening Frauds and creating a layered control model (Data Analytics backed) and managed to reduce false-positives by 40% and False-negatives by 7%.
- Manage a team of transaction monitoring analysts responsible for screening corporate, entity, and individual clients against OFAC, sanctioned nations and sanctioned lists, negative media, politically exposed persons (PEP), special public figures (SPF), and other high-risk indicators.
- Implemented a new system for monitoring L1 and L2 alerts, resulting in a 50% reduction in the time required to investigate alerts and file SARs.
- Conduct customer due diligence (CDD) and enhanced due diligence (EDD) reviews to assess customer risk and ensure compliance with regulatory requirements, using a variety of tools and resources, including NAICS search, LexisNexis search, structured and account takeovers, OFAC and PEP checks.
- Drive monthly and quarterly business review meetings to discuss process performance and ensure alignment with service level agreements (SLAs), utilizing a variety of tools and resources to track and analyze performance metrics and identify areas for improvement.
- Enhancing the client experience by bringing in the WoW factor Process improvement ideas, transparency & on time communication ,People management etc., thereby achieving customer satisfaction in percentage year on year of 98%.
- Managing the operating cost of the teams managed (Revenue, Payroll, and Direct Non-Payroll) by maintaining the budget within the planned limits.
- Successfully led the teams through Third-Party Information Security Audit, System and Organization Control Audit, Payment Card Industry – Data Security Standard (PCI – DSS) Audit, and Audit for vendor due diligence.
Manager of Operations
Barclays Shared Services Private Limited
Chennai
08.2012 - 09.2015
- Successfully completed the transition of the AML Transaction Monitoring business from Glasgow to Chennai within the planned timeline and budget, resulting in a savings of over $2 million annually.
- Identified and remediated several process gaps during the transition, resulting in a more streamlined and effective process for AML Transaction Monitoring.
- Review and analyze alerted transactions on a daily basis using the case management tool ACTIMIZE, ensuring compliance with AML regulations and internal policies and procedures.
- Conducted regular training sessions for other AML analysts on the use of ACTIMIZE and other internal systems, resulting in increased efficiency and accuracy in the review process.
- Perform a complete review of the alerted transaction, including any relevant historical information and account activity, to determine the legitimacy of the transaction and assess the overall risk associated with the client.
- Monitored daily/Weekly/Monthly activity and achieved 98% success rate on completion of transaction reviews within predetermined SLA.
- Collaborated with other departments, such as Compliance and Risk, to ensure alignment and consistency in AML/CTF policies and procedures, resulting in a more cohesive and effective approach to regulatory compliance.
- Developed and implemented an effective monitoring system for tracking, reporting and analysis of suspicious activities in compliance with all applicable regulations and policies.
- Collaborated with other departments to develop and implement enhanced due diligence measures for high-risk customers, resulting in a more robust and effective risk management framework.
Team Leader - Service Delivery
TCS - Eserve Limited
Chennai
05.2007 - 08.2012
- Managed the OFAC sanctions team (17 FTEs) to review cases against all potential hits identified by the system against the SDN list provided by OFAC.
- Reviewed L1 alerts for word-to-word matches and L2 alerts for historical transactions, analyzing central repositories such as Lexis Nexis to determine relationships and recommending blocking the transfer if a true match is identified.
- Conducted training sessions for new staff to ensure thorough understanding of the process and the system; authorized transactions processed by team members.
- Developed and implemented training materials to ensure team members met job requirements.
- Reduced transaction review time by 50%, and maintained a 100% accuracy rate in identifying potential financial crimes.
- Provided training to new staff on the process and system, as well as authorized transactions processed by team members.
Education
Bachelor of Arts - English Literature
Pondicherry University
Pondicherry, India 05.2004 - 05.2007
Skills
Client account management
Certification
Project Management Professional (PMP)
Accomplishments
- Implemented a cognitive optical character recognition (OCR) and artificial intelligence (AI) combined tool for the banks database analysis and comparative analysis, which reduced false positives in check fraud by 40% through Straight Through Processing (STP).
- The tool can read check images, extract necessary information, and present results in a user interface, allowing for manual validation if the tool cannot validate.
- Additionally, implemented analytics-driven algorithms and processes to read hand-written checks, analyze data, and validate checks in real-time with 99.8% accuracy.
- By utilizing Automation Anywhere (RPA) tool integrated with OCR technology, the process of extracting customer information and transaction details was streamlined, resulting in a 50% reduction in manual review time.
- The implementation of robotic applications for monitoring and analyzing financial transactions from CIF (Customer Information File) with indications of potential money laundering or fraud resulted in an 80% reduction in the manual effort required to compile evidence.
- With the integration of Natural Language Processor (NLP), the system was able to generate accurate and appropriate narratives of alerts based on findings updated by the agent, reducing narration errors by 70% compared to the manual version.
Reducing Check Fraud False Positive
(Accenture Solutions Private Limited )
AML Transaction Monitoring - RPA/NLP
(Accenture Solutions Private Limited )
Work Availability
monday
tuesday
wednesday
thursday
friday
saturday
sunday
morning
afternoon
evening
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Timeline
Certified AML Specialist (CAMS)
12-2021
Certified Fraud Examiner (CFE)
06-2021
Lean Six Sigma Green Belt
06-2021
Project Management Professional (PMP)
12-2020
Vice President of Operations
Accenture Solutions Private Limited
10.2015 - Current
Manager of Operations
Barclays Shared Services Private Limited
08.2012 - 09.2015
Team Leader - Service Delivery
TCS - Eserve Limited
05.2007 - 08.2012
Bachelor of Arts - English Literature
Pondicherry University
05.2004 - 05.2007
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