Teamwork
Prashant Panchal
Retail Liability Operation
Thane,MH
Summary
Dynamic banking professional with over 12 years of comprehensive experience, including 9 years in Retail Liability Operations, currently contributing to IDFC First Bank. Expertise in CASA onboarding and a robust understanding of KYC scrutiny, AML compliance, and regulatory standards ensure the delivery of exceptional service. Proven track record in enhancing the effectiveness of Premier Relationship Managers by adeptly managing complex service requests for elite clients while maintaining strict adherence to RBI and sanctions regulations. Holds a B.Com degree and an AML certification from NISM, reflecting a strong commitment to professional development in the financial sector.
Overview
16
16
years of professional experience
4
4
Languages
Work History
Specialist- Retail Liability Operation
IDFC First Bank
09.2023 - 12.2025
- Led a 6-member Retail Liabilities Operations team, driving performance and efficiency to support the branch networks for customer onboarding (CA account opening—Company, Partnership, LLP, Sole Prop, and TASC a/c), service delivery, and ensuring the team maximizes output in line with the Target Operating Model (TOM).
- Proactively managed and resolved an average of 200+ complex service requests monthly for top-tier, wealth accounts, and PRMs, improving service TAT by 15%.
- Key resource for AML and sanctions compliance, specifically managing escalations for suspicious activities, and ensuring all KYC and non-KYC documentation was 100% accurate to meet zero-discrepancy targets.
- Conducted mandatory FTR and new product training for over 100 branch staff and RMs, ensuring consistent application of the Target Operating Model (TOM), and adherence to new regulatory guidelines (RBI/SEBI).
- Expertly used FINACLE and SIEBEL systems (core banking/CRM) to execute all client service modifications and processing, upholding agreed TATs for PRM portfolios.
- Served as the Subject Matter Expert (SME), managing the end-to-end operational processing and compliance for complex current accounts (LLP, Trust, Private/Public Ltd).
- Managed and provided expertise for pan-India Current Account opening operations, ensuring strict 100% compliance and processing control across highly complex constitutions to maintain a zero-discrepancy record.
- Key contributor to operational effectiveness by actively managing the escalation and reporting of anti-money laundering (AML)-related suspicious activities, ensuring full adherence to group compliance policy and sanctions guidelines.
- Coordinated with cross-functional teams (CASA, TASK, and Wealth) across Pan India to streamline processes, successfully reducing Relationship Manager (PRM/Elite RM) service escalations.
Deputy Manager- Retail Liability Operation
Axis Bank
01.2020 - 09.2023
- Managed all wealth liabilities processing and complex client modifications (e.g., CASA transfer, re-KYC) for PRM portfolios, executing both digital and physical service requests.
- Expertly utilized FINACLE and SIEBEL systems for daily documentation verification and updates, consistently upholding agreed-upon TATs for high-priority client requests.
- Minimized PRM administrative load by effectively managing the escalation and resolution of complex branch-originated service requests, ensuring high-quality client service.
- Provided critical training to the Retail-Liability Operations team on new product launches and regulatory changes to ensure team compliance with the Target Operating Model (TOM).
- Improved team efficiency by streamlining processes and implementing innovative management strategies.
- Developed strong relationships with stakeholders to facilitate smooth communication and project completion.
Deputy Manager- Retail Liabilities
IDFC First Bank
09.2017 - 12.2019
- Managed the document verification unit (DVU) by meticulously reviewing and validating the KYC for complex Current Account Constitutions (Company, Partnership, Proprietorship).
- Ensured 100% compliance for complex accounts by reviewing and confirming supporting legal documentation, including MOA, AOA, Board Resolutions, and MCA site details.
- Acted as a guide by providing 100% accurate training and query resolution to new team members and branches on operational, regulatory, and SOP changes.
- Managed the escalation and resolution of service requests originating from various branches, directly reducing PRM administrative workload, and streamlining the client experience.
- Enhanced employee performance by providing regular feedback, coaching, and training opportunities.
Assistant Manager- Retail Liabilities
Kotak Mahindra Bank
10.2016 - 08.2017
- Expertly managed end-to-end service requests (SRs) across multiple channels for a broad portfolio of client accounts (CASA, OD, TD, FATCA, etc.). across Mumbai and Gujarat.
- FINACLE and SIEBEL are used daily to verify documentation, uphold agreed TAT for back-office processing, and resolve escalations (including CBO buckets), which directly minimized the PRM administrative load. Also, provided critical regulatory compliance training on new products and SOPs to maintain service quality.
- Supervised day-to-day operations to meet performance, quality and service expectations.
- Mentored junior staff members in their professional development by offering guidance/support in their assigned roles.
- Implemented loss prevention strategies, significantly reducing shrinkage.
Senior Associate
State Street Syntel Services (SYNTEL) UK based
11.2009 - 06.2016
- Gained international exposure and expertise in process migration, traveling to the UK in 2013 to support the transition of the IFDS process. Maintained strong financial control by performing cash reconciliation, calculating gain/loss on forward contracts, and assisting with month-end financial reporting. Consistently engaged with UK stakeholders by participating in weekly governance calls.
- Proved successful working within tight deadlines and a fast-paced environment.
- Used strong analytical and problem-solving skills to develop effective solutions for challenging situations.
- Participated in team projects, demonstrating an ability to work collaboratively and effectively.
- Learned and adapted quickly to new technology and software applications.
Education
Bachelor of Commerce -
04.2001 -
Certification Course - AML, KYC And Customer Due Diligence
04.2001 -
Skills
Accomplishments
- 2015 | Syntel | Titan of the Month Recognized for exemplary service delivery and risk mitigation by consistently delivering First Time Right (FTR) processing, maintaining 100% accuracy and ensuring zero breach of policy or internal controls
- 2013 | Syntel | Certificate of Appreciation Received award for ensuring global standards were maintained during the process transition from the UK, successfully training the local team and achieving First Time Right (FTR) performance immediately post-migration.
Interests
Creativity
Problem solving
Timeline
Specialist- Retail Liability Operation - IDFC First Bank
09.2023 - 12.2025
Deputy Manager- Retail Liability Operation - Axis Bank
01.2020 - 09.2023
Deputy Manager- Retail Liabilities - IDFC First Bank
09.2017 - 12.2019
Assistant Manager- Retail Liabilities - Kotak Mahindra Bank
10.2016 - 08.2017
Senior Associate - State Street Syntel Services (SYNTEL) UK based
11.2009 - 06.2016
University of Mumbai - Bachelor of Commerce,
04.2001 -
NISM National Institute of Securities Markets - Certification Course, AML, KYC And Customer Due Diligence
04.2001 -
CORE COMPETENCIES
- Retail Banking Operations
- Account Servicing & Maintenance
- Process Efficiency
- KYC and Compliance
- Document Validation
- Service Request (SR) Handling
- Escalation and Query Resolution
- MIS and Reporting