Sharath Parakatta
Vice President Banking Operations
Bengaluru
Summary
Dynamic and results-driven Vice President with over 6 years of experience in regulatory operations, change management and business transformation. Proven track record in leading cross functional teams driving process efficiency, innovation and aligning vision with business objectives. Adept to the industry demands by upskilling on relevant tools, techniques and leadership approach
Operations professional with history of optimizing site performance and driving continuous improvement initiatives. Adept at leading diverse teams to achieve operational excellence and adapt to changing business needs. Known for strategic planning and project management skills, fostering collaboration, and delivering consistent results.
Overview
21
21
years of professional experience
Work History
Vice President, BSA/AML Currency Transaction Reporting & KYC – Customer Data Accuracy Program
JPMorganChase
01.2020 - Current
- Lead global operations complying with the BSA Act - Currency Transactions Reporting Operations (US) by establishing a robust batch processing model of Cash transactions and Customer profile mapping across all lines of business.
- Partner with AML Compliance to report unusual transactional activities and play a key role to build tableau dashboards designed to identify potential red flags and suspicious trends.
- Continued effort on Process Transformation by eliminating bad demand and increasing the straight through processing with systemic and robotic solutions. 86% straight through achieved on existing filing platform.
- Maintain a robust capacity planning by effective efficiency tracking to ensure operational controls. All the KRIs/KPIs are monitored on a regular basis to assess the process health and control activity adherence to ensure highest accuracy.
- Partner with Control Management, Compliance, and Legal for periodic review and updates to the process based on the FinCEN guidelines.
- Drive process innovation and change management by effectively adapting to new tools and techniques, collaborating with product, technology, and automation teams. Participate in technology sprints for ideation, design BRDs and ensure testing and validation of changes introduced.
- Represent business on oversight committees and All Bank Association forums that involves Senior Management representation from all relevant business units, Compliance, Legal, technology and control. The committees engage is monthly review of overall adherence to the FinCEN guidelines.
- Promote capability enhancement within the team by encouraging upskilling and providing relevant platforms to implement the learnings. Overall employee retention above 88% and Employee Opinion Survey scores above 87% for the last 7 years.
Vice President – General Ledger Reconciliation & Audit Confirmation
JPMorganChase
02.2009 - 12.2019
- Managed GL Reconciliation for internal business units, including Consumer Banking, Commercial and Investment banking products. This included daily balancing of accounts, monthly certification engaging the Controllers to sign off balances with/without exceptions.
- Transitioned reconciliation operations while new products were introduced in line with the GL Reconciliation guidelines by designing the transition plan and integrating reconciliation and research tools into the existing platforms.
- Coordinated operational integrations during Mergers and acquisition by working with key stakeholders to understand the process designs and work participate in every stage of successful integration.
- Good hands-on understanding on reconciliation tools based on SAP-OIM, I-Recs, Oracle and non-integrated platforms on all types of GL Reconciliation.
Retirement Specialist
Fidelity Investments
01.2005 - 01.2009
Sales Executive
Standard Chartered Bank
01.2005
Education
Post Graduation Diploma - Business Administration
Symbiosis Centre For Distance Leaning (SCDL)
Pune01-2009
Skills
Product and Innovation: Agile basics, Data Literacy (Excel, tableau & Alteryx) and LLM Prompt basics
Leadership: Certified in Lean Management Operations Service (LMOS), Leadership Edge programs on 8 Manager Capabilities
Change and growth management
Executive leadership
Leadership and people development
Social Engagements
· Business Resource Group: Member of the NextGen Core team within CCB Ops leading strategic initiatives and activities across multiple Global Corporate Centre (GCC) locations. Key contributions include encouraging new member registration into NextGen and conducting events and activities in line with the India chapter
· Bengaluru Sports Culture: Member of the Bengaluru Sports Culture group and have successfully coordinated sports events to include JPMC Run and Inter LOB Sports and games throughout the year. Currently lead the communications on digital/emails/teams for all sporting activities in Bengaluru
Katalyst Mentoring: Mentor for 2 students from the JPMorganChase sponsored Katalyst Mentoring program to support brilliant Women students from underprivileged background.
Timeline
Vice President, BSA/AML Currency Transaction Reporting & KYC – Customer Data Accuracy Program
JPMorganChase
01.2020 - Current
Vice President – General Ledger Reconciliation & Audit Confirmation
JPMorganChase
02.2009 - 12.2019
Retirement Specialist
Fidelity Investments
01.2005 - 01.2009
Sales Executive
Standard Chartered Bank
01.2005
Post Graduation Diploma - Business Administration
Symbiosis Centre For Distance Leaning (SCDL)