Prem Kumar Elumalai
Associate Manager
Bengaluru
Summary
Dynamic Assistant Manager with over 13 years of experience in Customer Due Diligence (CDD), Anti-Money Laundering (AML), and Know Your Customer (KYC) operations within the global banking sector. Expertise in risk assessment, enhanced due diligence (EDD), and quality assurance (QA) ensures adherence to stringent SLA governance. Proficient in stakeholder management and regulatory compliance, consistently driving process optimization to achieve zero client escalations while maintaining exceptional operational accuracy. Results-oriented professional dedicated to enhancing organizational performance through strategic oversight and meticulous attention to detail.
Overview
14
14
years of professional experience
1
1
Language
Work History
Due Diligence Associate Manager
Wells Fargo
01.2024 - Current
- Optimized Reporting Efficiency: Streamlined daily reporting processes using Power Query, significantly reducing manual effort and improving data accuracy.
- Process Knowledge Enhancement: Led team training initiatives and standardized procedures to elevate process understanding and compliance across the team.
- Cross-Site Collaboration: Fostered strong inter-site relationships, enhancing collaboration and team cohesion between two operational locations.
- Team Development & Growth: Contributed to team success with two internal promotions in 2024, reflecting effective mentorship and leadership.
- Client Satisfaction: Maintained a flawless record with zero client escalations from stateside stakeholders, ensuring consistent service quality.
- KPI Management: Successfully managed key performance indicators, consistently meeting or exceeding all operational benchmarks.
- Leave Adherence Strategy: Implemented a proactive leave management approach, minimizing workflow disruptions and maintaining team productivity.
- Performance Documentation: Maintained detailed performance records for team members, supporting fair and transparent appraisal discussions.
- Pipeline Management: Oversaw pipeline activities to ensure smooth workflow and timely task completion across the team.
- Internal Resource Optimization: Supported organic efficiency by internally lending three team members to other functions, maximizing resource utilization.
- Seat Management via Sun Model: Introduced and implemented the Sun Model to optimize seat allocation and improve workspace efficiency.
- Managed the BOQC process: Encompassing both CB and CIB business segments, ensuring compliance and accuracy.
- SME Backup Planning: Actively working on creating robust backup plans for Subject Matter Experts to ensure continuity and risk mitigation.
- Process Optimization & Upstream Collaboration: Actively engaged with upstream teams to identify bottlenecks and align processes, driving efficiency and reducing turnaround time across workflows.
- Initiated process improvements based on thorough analysis of internal operations data resulting in enhanced productivity levels.
- Managed cross-functional projects, ensuring timely completion and alignment with company objectives.`
- Mentored junior team members, contributing to their professional growth and skill development.
- Successfully managed multiple high-priority tasks simultaneously while maintaining strict deadlines ensuring optimal resource allocation.
- Managed cross-functional projects, ensuring timely completion and alignment with company objectives.
Associate Manager – Retail Banking (EDD/Periodic Review)
Standard Chartered Bank
04.2021 - 12.2022
- Conducted thorough and detailed quality checks of periodic reviews for high-risk clients to ensure ongoing compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations.
- Collaborated with internal stakeholders to gather additional data and insights required to complete the Enhanced Due Diligence (EDD) process effectively.
- Participated in refining and enhancing internal processes for high-risk client periodic reviews, suggesting improvements to increase accuracy and efficiency.
- Compiled and generated daily reports to deliver timely and accurate insights into key banking metrics, including transaction volumes, account balances, and financial performance.
- Conducted comprehensive assessments of private banking clients’ sources of wealth to ensure compliance with AML and KYC regulations.
- Analyzed financial documents, statements, and transaction histories to ascertain the legitimacy of reported sources of wealth.
- Performed in-depth financial analysis of clients' assets, investments, income sources, and business activities to validate the accuracy of reported sources of wealth.
- Interacted with relationship managers and directly with clients to request additional information or clarification on reported sources of wealth, maintaining a professional and customer-centric approach.
- Demonstrated a high level of professionalism and a customer-first attitude while effectively managing and resolving client escalations.
- Conducted meticulous quality checks of business banking account periodic reviews to ensure accuracy, compliance with policies, and adherence to regulatory requirements.
- Analyzed account documents and transaction histories to verify client authenticity.
- Prepared detailed quality assessment reports outlining account review findings, highlighting discrepancies, and recommending corrective actions.
Branch Operations Manager
Kotak Mahindra Bank
02.2020 - 09.2020
- Enhanced branch service quality scores by implementing targeted measures to improve customer satisfaction and streamline service processes.
- Verified and processed account opening forms sourced by the sales team, consistently meeting or exceeding defined Turnaround Time (TAT) benchmarks.
- Effectively managed and responded to legal notices received at the branch within stipulated timeframes, ensuring compliance and mitigating potential risks.
- Monitored and addressed Anti-Money Laundering (AML) alerts for suspicious transactions, contributing to stronger risk management and regulatory compliance.
- Ensured timely resolution of service requests received at the branch, consistently adhering to defined TAT standards to optimize customer service efficiency.
- Conducted thorough validation of RL (Regulatory and Legal) control reports - daily, weekly, and monthly - ensuring accuracy and compliance with regulatory guidelines.
- Resolved customer complaints efficiently, maintaining positive relationships through prompt and effective issue resolution.
- Managed daily branch operations for optimal productivity and customer satisfaction.
- Supervised a team of employees, fostering a positive work environment and emphasizing professional growth.
Assistant Manager / Customer Service Executive
HSBC
08.2013 - 06.2019
- Managed teams of CMB Account Opening and GB Data Capture operations, with prior experience leading RBWM Account Opening and Servicing functions.
- Led a team performing detailed pre-processing checks for corporate account openings, including rigorous ID&V verification, customer due diligence, and screening assessments (Name Search, Blacklist Search, World Check, Negative News) to ensure strict adherence to procedures and guidelines.
- Established clear performance expectations, goals, and KPIs, fostering a culture of accountability and operational excellence.
- Effectively balanced ad-hoc projects and BAU tasks, consistently meeting tight deadlines without additional FTE support.
- Shared best practices across global teams and introduced a lite-automation tool to improve process efficiency and effectiveness.
- Reported input defects to the business regularly, conducted fortnightly calls with frontline teams, resolved identified errors, and provided feedback to prevent recurrence.
- Collaborated closely with Business and Onshore counterparts, identifying procedural gaps and contributing to necessary procedural enhancements.
- Managed interpersonal conflicts within the team, applying conflict resolution strategies to maintain a harmonious and productive work environment.
- Maintained Internal (QA) and External (CA) error rates within benchmark levels, emphasizing continuous improvement and error prevention through feedback and team discussions.
- Conducted regular team huddles and quarterly refresher training sessions, ensuring up-to-date knowledge of procedures and maintaining documented evidence for audit purposes.
- Maintained comprehensive stack ranking records for performance evaluation, identified high-potential team members, and supported their career development.
Process Associate
TCS e-Serve Ltd.
11.2011 - 08.2013
- Served as a dependable backup for the line manager, seamlessly stepping into leadership responsibilities when required.
- Maintained a strong focus on accuracy at both team and individual levels, implementing strategies to elevate quality standards across operations.
- Consolidated daily MI and EDD reports effectively, delivering actionable insights to support informed decision-making and continuous process improvement.
- Proactively initiated cross-training programs, equipping team members across various processes with diverse skill sets to enhance operational agility and flexibility.
Education
MBA - Finance
Loyola - Pondicherry University
Chennai, TN12.2017
BSC - Mathematics
RKM Vivekananda College
Chennai, TN05.2009
Skills
Operational efficiency management
Data-driven results analysis
Engaging presentation skills
Effective team leadership
Analytical problem-solving
Team building
Mentoring team members
Anticipatory problem-solving
Situation analysis
Intermediate Power Query skills
Awards
Honored with the Business Excellence Award in 2018,
Achieved the Best Performer Award for H1 2018, showcasing outstanding results.
Strategically eliminated preprocessing checks and streamlined name search processes, leading to a substantial reduction in turnaround time (TAT)
Successful implementation of Customer Due Diligence (CDD) deployment for RBWM in 2016,
Received recognition for skillfully overseeing adhoc projects such as Zoom and Eagle,
Allocation of dedicated resolution queues, effectively reducing TAT for resolving cases and enhancing customer satisfaction,
Served as the General Secretary of R.K.M Vivekananda College, showcasing leadership qualities and commitment.
Disclaimer
I affirm that the information provided above is accurate and true to the best of my knowledge.
Timeline
Due Diligence Associate Manager
Wells Fargo
01.2024 - Current
Associate Manager – Retail Banking (EDD/Periodic Review)
Standard Chartered Bank
04.2021 - 12.2022
Branch Operations Manager
Kotak Mahindra Bank
02.2020 - 09.2020
Assistant Manager / Customer Service Executive
HSBC
08.2013 - 06.2019
Process Associate
TCS e-Serve Ltd.
11.2011 - 08.2013
BSC - Mathematics
RKM Vivekananda College
MBA - Finance
Loyola - Pondicherry University
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