OMKAR GHAG
Mumbai
Summary
I am a dedicated professional with 7 years of experience specializing in Compliance, Risk Management, and Customer Engagement. Throughout my career, I have consistently implemented initiatives that drive operational efficiency and enhance client satisfaction. One of my key achievements includes winning the Deal of the Quarter award at ICICI Bank for optimizing a major transaction. With a strong analytical mindset, I focus on process improvements while ensuring strict regulatory adherence. My expertise in data analysis and cross-functional collaboration has played a pivotal role in driving business growth and achieving operational excellence.
Overview
7
7
years of professional experience
1
1
Certification
Work History
Deputy Manager – Grade II
ICICI BANK Ltd
06.2022 - 08.2024
- Managed Cash Management Services (CMS) for NBFC clients, overseeing electronic fund transfers, salary payments, dividends, utility bills, and loan EMI collections.
- Opening an escrow account for clients of an NBFC, including Sole Proprietorships, Private and Public Limited Companies, Partnership Firms, LLPs, Trusts, and Societies.
- Reviewed and verified KYC information to ensure the accuracy and completeness of client records, including identity, address and other relevant details, in accordance with regulatory requirements.
- Monitored and ensured compliance with Risk management protocols, mitigating fraud risks, operational errors, and adhering to both internal policies and regulatory standards.
- Organized and facilitated meetings with external and internal stakeholders, preparing detailed minutes and action points for follow-up.
- Coordinated and collaborated with cross-functional departments to effectively track and resolve issues, ensuring timely and accurate responses.
- Facilitated automated debit transactions for recurring payments such as insurance premiums, loan EMIs, and utility bills, ensuring seamless and timely processing.
- Handled physical cheque collections and processing, ensuring accuracy, compliance with internal controls, and timely clearing of payments.
- Managed closure of agreements with billers under the Bharat Bill Payment System (BBPS), ensuring compliance with regulatory standards and maintaining efficient workflows.
- Standardized escrow account agreements to meet legal, regulatory, and client-specific requirements, collaborating closely with legal teams to ensure clarity and enforceability.
- Built and maintained strong client relationships, acting as the primary point of contact for inquiries, escalations, and providing proactive support to address client needs.
- Streamlined CMS processes to enhance operational efficiency, reduce costs, and improve overall service delivery, conducting regular reviews to identify opportunities for process optimization.
- Generated and analysed performance reports to evaluate CMS service effectiveness and profitability, leveraging data insights to recommend service improvements and enhance client value.
- Provided specialized trade finance solutions, including letters of credit and bank guarantees, to support international trade transactions and facilitate smooth cross-border business operations.
- Coordinated with internal teams and clients to ensure the smooth execution of CMS solutions, troubleshooting issues, and recommending enhancements for service optimization.
- Led initiatives to implement process automation and digital solutions for CMS operations, improving speed, accuracy, and scalability of banking services.
Assistant Manager
AXIS BANK Ltd
08.2017 - 05.2022
- Verified KYC information to ensure the accuracy and completeness of client records, including identity, address, and other relevant details, in compliance with regulatory requirements.
- Managed field verification for individuals or entities flagged in negative lists or Suspicious Transaction Reports (STRs), validating their authenticity to mitigate potential risks.
- Conducted detailed reviews of various account types, such as Resident Indian accounts, Hindu Undivided Family (HUF) accounts, and non-individual accounts, ensuring compliance with internal policies and regulatory standards.
- Assessed creditworthiness by referencing databases like CRILC (Central Repository of Information on Large Credits), evaluating credit facility status, and understanding exposure across different financial institutions.
- Performed end-to-end testing of KYC and account management processes, ensuring seamless workflows that met regulatory compliance and operational efficiency standards.
- Strictly adhered to bank processes and procedures, ensuring compliance with all rules and guidelines issued by regulatory authorities, and staying updated on regulatory changes.
- Monitored client account modifications and closures, ensuring requests were processed within the specified Turn-Around Time (TAT) according to the bank's guidelines.
- Performed audits related to KYC processes, focusing on REKYC cases, including compliance audits, concurrent audits, and service quality audits to ensure adherence to standards.
- Ensured REKYC cases were managed according to regulatory guidelines, identifying areas for improvement and providing recommendations to enhance service quality and compliance.
- Collaborated with internal teams to resolve any KYC discrepancies or issues, maintaining communication and ensuring timely and accurate documentation.
- Contributed to improving the integrity and efficiency of the KYC process by identifying gaps, suggesting process enhancements, and driving continuous improvement initiatives.
- Prepared comprehensive reports and Management Information System (MIS) reports for senior management.
Education
Masters in Management Studies (MMS) - Finance Specialization
Sasmira's Institute of Management
01.2017
Bachelor in Commerce (B.com) - undefined
Chetana’s Hazarimal Somani college of Commerce & Economic
01.2014
Higher Secondary Certificate (HSC) - undefined
S.K.Rai Junior College
01.2011
Secondary School Certificate (SSC) - undefined
Aditya Birla Higher Secondary School
01.2009
Skills
- Lending Regulations
- Data Collection & Analysis
- Escrow & Biller Agreement
- Customer Due diligence
- Customer handling
- Leadership
- Team Handling
- Risk assessment
- Documents Review
- Decision-making capacity
Certification
Certified Anti-Money Laundering Manager (CALM) from National Institute of Securities Markets (NISM) -December 2024
Languages
English
Upper intermediate (B2)
Marathi
Bilingual or Proficient (C2)
Hindi
Upper intermediate (B2)
Gujarati
Intermediate (B1)
Affiliations
- Recognized with the award of Deal of the Quarter in January 2024 from ICICI Bank Ltd for successfully managing & optimizing a significant financial transaction amounting INR 700 crs involving NBFC client.
Timeline
Deputy Manager – Grade II
ICICI BANK Ltd
06.2022 - 08.2024
Assistant Manager
AXIS BANK Ltd
08.2017 - 05.2022
Bachelor in Commerce (B.com) - undefined
Chetana’s Hazarimal Somani college of Commerce & Economic
Higher Secondary Certificate (HSC) - undefined
S.K.Rai Junior College
Secondary School Certificate (SSC) - undefined
Aditya Birla Higher Secondary School
Masters in Management Studies (MMS) - Finance Specialization
Sasmira's Institute of Management
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