Prachi Kumari

Working as Manager in HDFC Bank from last 1 year in the field of trade finance operations as Authorizer. I am taking care of remittances ensuring adherence to OFAC, FATF, FEMA and RBI Guidelines and also ensuring transactions are processed within defined TAT to strengthen the relationship and trust of customers.

My job role includes :

• Handling advance and direct payments for goods and services, such as freight, travel, ODI, ECB, etc.
• Well versed in MT 103 and MT 202 and reverting to foreign bank queries through MT 199 and MT 299.
• Working on applications like FC (Flex Cue), Trade Stream , Trade Enet etc.
• Document Scrutiny, Query Resolutions.

• Working as a Deputy Manager - 2 in ICICI Bank from approx 3 years in the field of trade finance operations as scrutinizer, maker and checker
• I am taking care of remittances ensuring adherence to OFAC, FATF, FEMA and RBI Guidelines and also ensuring transactions are processed within defined TAT to strengthen the relationship and trust of customers
• My additional roles and responsibilities are: Scrutinizer, Maker and checker in processing remittances, Handling advance & direct payments for goods and services, such as Freight, Travel, ODI, ECB etc., Preparing swift messages in MT 103 and MT 202 and reverting to foreign bank queries through MT 199 and MT 299., Performing AML and KYC of applicant, beneficiary and any other third party like consignee, notify party etc, Ensuring the transaction does not involve any fully sanctioned country, Timely reporting of any suspicious or fraudulent activity to compliance department, Processing different types of payments including MTT (Merchanting Trade transaction), Deemed Imports, ACU (Asian Clearing Union), My role also include Coordination with cross functional departments like Process team, Product team & Business team
• Apart from this i have fair working knowledge of banking various Regulatory Reporting to RBI.

• Handling ICICI Bank All State Mandates and Reconciliation & Reporting to respective RBI and State Treasury
• Handling OIDAR GST Payments for Overseas client & remitting their Tax liability to RBI
• Executing Stamp duty payments on behalf of Depositories & Stock Exchanges in respective State & Union Territory portal
• Hands on experience in Tax Payment (Excise duty, VAT, Direct Tax) & Custom Duty Request for Corporate & Government clients
• Handled Sovereign Gold Bond scheme Tranches & Performing Settlement Activities to RBI
• Fee Income, RBI DMS & TOC report preparation as required by RBI & Senior Management
• Co-ordination with the Branches/ Commercial Banking Groups/ Other Departments and Operation Units & Clients for Tax Related issues to ensure speedy resolution
• Interacting with process team for preparation of Job cards & daily checklist for handling Tax related activities smoothly
• END to END Monitoring of Tax Collection Accounts & Providing Ageing details to Central Reconciliation Team
• Handling Audit related queries, Concurrent & Internal Audits
• Co-ordination with Business Team for Vendor Requirement & Price Fixing
• Scrutiny of physical documents received for Auto Debit registration, modification, cancellation & updating details in system accordingly
• Hands-On Experience of: MS Office, FX Trade-Online, Finacle, Trade-Factory, AMLOCK, Fircosoft, Swift Message, Tally ERP
• Looking after process improvement initiatives through system changes, process realignment/ redefining & efficiency management
• Monitoring overall functioning of processes, identifying improvement areas and implementing adequate measures to maximize customer satisfaction level
• Overseeing finance functions, policies & procedures to establish internal management and control
• Query resolution related to SOX Audit
• Publishing various MIS reports to Senior Management on improvements.