Rakesh Tak

Role - Governance & Control, Client Asset Servicing

• Coordinating for control testing to assess risk management and compliance, collaborating with cross-functional teams to implement internal controls to ensure regulatory and compliance requirements, and to mitigate operational risks.
• Developed a comprehensive understanding of risk management through progressive roles, acquiring expertise in stakeholder engagement, operational efficiency, and analytical problem-solving, significantly contributing to overall business resilience.
• Compliance & Audit Tracking: Monitored and tracked compliance and audit items, ensuring prompt closure to meet deadlines and standards.
• Coordinating for RCSA, EBCA testing, internal audit, breaches, and regulatory management.
• Managing legal entity risk reporting, ensuring full alignment with both regulatory requirements and established risk appetite thresholds, and ensuring proactive and compliant risk management across the business.
• Liaising with Risk & Compliance, and the Legal team to gather meeting material for CASS, GAS, and CAP Forums.
• Accountable for publishing monthly and weekly meeting materials for UK regulatory and governance (CASS).
• Responsible for regulatory MIS reporting and monthly attestation, such as CASS RP & AUC Client Asset Protection for entitled legal entities.
• Procedure and Policy Compliance: Ensured adherence to operating procedures and policies, providing consistent support to the Risk department's objectives.
• Stakeholder engagement: To provide daily and weekly reports for escalations raised across the business, reconciliation break reports, and global risk review meeting materials for the senior leadership team.
• Led change management initiatives through meticulous maintenance of the Book of Work (BOW), ensuring absolute transparency, stakeholder alignment, and flawless project execution.

Role – Global Payment Controls & Settlement

• Managed multi-currency SWIFT payment processing, kickback, and recall of funds.
• Ensuring the validation of all required evidence received from business units for payment disbursement.
• Conducted due diligence checks to verify the source of settlement instructions for timely funding and disbursement to agent banks.
• Foster cross-functional collaboration with stakeholders and the Fraud Ops team to address discrepancies in client documentation, ensuring compliance and accuracy in payment processes.
• Monitored EPS (Exceptional Payment System) red flag exceptions for payments, and facilitated release based on sufficient evidence provided by the Business Lines.
• Oversaw timely responses to client queries and ad hoc requests, maintaining high levels of client satisfaction.
• Monitored and resolved cash breaks resulting from mismatch entries in Intellimatch accounts, contributing to seamless suspense account reconciliation.
• Provided procedural training to team members to optimize process efficiency and accuracy.
• Updated procedural documents, OJT, KRI, and TDABC in a timely manner, ensuring alignment with evolving operational requirements.

Role - Global Messaging & Embargo Filtering Team (Transaction Screening)

• Spearheaded the sanction screening of AML checks for SWIFT messages, ensuring compliance with regulatory requirements.
• Conducted payment inquiries following Compliance and AML guidelines.
• Optimized straight-through processing rate by refining criteria for identifying false positives.
• Ensured all payments met currency cut-off deadlines through diligent monitoring.
• Provided effective solutions for client inquiries regarding failed SWIFT messages and RMA setup.