Ravi Kumar Karakana

QC Specialist

Cognizant

HYDERABAD

04.2022 - Current

Currently working for Cognizant since 04th April,2022, current Role as QC Specialist for PEP Screening
Along with supporting as a Trainer for newly joined team members by explaining process and showing live cases and conducting side by side session to understand process well
And participating in weekly calibration Call with Onshore for team quality and error discussion
transaction monitoring procedures and vetting possible suspicious activities.
Expertise in monitoring correspondent banking transactions made by 3rd party clients.
Analyze the transactions in the accounts and investigate for any Money laundering and Terrorist Financing activity involved.
Reviewing KYC of the alerted customer to understand anticipated activity.
Identifying Special Category Clients (SCC) and conducting Enhanced Due Diligence on the same.
Performing Enhanced Due Diligence (EDD) on the customer and related parties using various Internet tools (including Google Search, Lexis Nexis, RDC and Perform Negative News and Negative Facts screening using World check, RDC).
Narrating the research complying with various money laundering legislations in the USA such as USA Patriot Act, Bank Secrecy Act etc.
Performs checks on all PEPs against World Check Risk Screen, and OFAC Specially Designated Nationals List (SDN) and Blocked Persons list.
Review controls and monitored established policies and procedures for Know Your Customer (KYC) compliance guidance
Draft detailed narratives when necessary and communicated to designated third party as appropriate to gather additional data for review as required
Conclude whether further investigation is warranted based on a reasonable assessment of information obtained and to escalate unusual or suspicious activity, after performing due diligence
Review of customer profiles based on the risk, geographical location and the regulatory requirements using internal or external means
Identifying the risk rating based on the risk pillars
Identifying the entity type based on the nature of business, listing percentage, regulatory status and parties involved
Sourcing the documents required for the movement of the case to the various stages
(Initial due diligence ->Profile completion -> Global KYC -> Local KYC > based on the risk rating case will be moved to AFC approval)
Performing the verification and validation of the documents sourced
Performing the screening on the entities based on the data points available
Analysing the ownership structures and level of risk involved by the Legal representatives and UBO's
Requesting the outreach team to confirm whether all the data sourced data points and documents are valid or else to provide valid documents
Identifying Ultimate Beneficial Owners (UBO), Intermediate Beneficial Owners (IBO's) and all other related parties (Directors, Authorized Signatories etc.)
Performing Sanctions and Vulnerable business checks and Screening for the client and its connected parties/PEP's
Review the required KYC information received from Client / Relationship Manager in an effort to remediate and validate customer information
Reach out to Client/Relationship Manager in situations where there are discrepancies and/or if the information provided does not meet with the CIP standards
Sourcing all the local requirements and generating LKYC and GKYC
Uploading the end to end periodic review data into the internal application and sending the case for BA or AFC approval based upon the risk rating