SIDDESH VERNEKAR
Summary
Strategic and visionary Trade Finance Product Leader with 23+ years of experience at Axis Bank, including 5 years of international experience at DIFC Dubai. Proven expertise in Bank Guarantees, Letters of Credit, Export Bill Discounting, and Structured Trade. Recognized for driving product innovation, digitization, regulatory alignment, and income growth. Adept at managing cross-functional teams and delivering sustainable value across corporate, SME, and institutional segments.
Overview
23
23
years of professional experience
Work History
Vice President - Trade Finance Products
Axis Bank Ltd.
04.2002 - Current
- Lead the Bank Guarantee product across Corporate , Retail , and FI segments, ensuring product growth , digitization , and regulatory compliance
- Spearheaded the integration of E-BG issuance and lifecycle management with NeSL , resulting in improved Turnaround Time (TAT) and enhanced client satisfaction
- Developed and rolled out trade product policies , aligned with domestic regulations and global standards
- Oversaw structured trade transactions for large corporations and MNCs , focusing on Non-Fund-Based (NFB) income generation and risk mitigation
- Played a key role in FEMA compliance , managing OFAC/EU sanctions adherence and mitigating AML risks
- Partnered with internal teams ( risk , operations , legal , technology ) and external stakeholders ( international/domestic banks ) to streamline trade flows
- Monitored trade product income growth through regular MIS reporting and ensured audit preparedness
- Collaborated with senior management to develop strategic initiatives and long term goals
- Demonstrated proficient leadership skills and mentored high-performing teams , driving team building , talent acquisition , and capability development , while fostering a culture of collaboration and operational success
Education
Master of Financial Services - Banking And Finance
Goa University
Taleigao, Goa, India03-2002
Skills
- Trade Products and Trade finance operations (BG, LC, Export Finance)
- Regulatory compliance (FEMA, OFAC/EU Sanctions, AML)
- Risk management
- Data analysis
- Trade Finance Platforms & Core Banking Systems
- MS Excel (Advanced), MS PowerPoint
- MIS, Audit Readiness & Income Monitoring
- Performance Optimization
- Team Leadership & Stakeholder Management
Accomplishments
- Enabled digitization of the BG issuance process across 100+ corporate clients.
- Successfully increased Bank Guarantee volumes by ~20% YoY through policy enhancements and client engagement.
- Recognized by senior management for excellence in cross-border trade transaction structuring during DIFC posting.
Hobbies
- Yoga
- Travelling
- Reading
- Financial Markets
Languages
English
Bilingual or Proficient (C2)
Hindi
Bilingual or Proficient (C2)
Marathi
Advanced (C1)
Konkani
Bilingual or Proficient (C2)
Timeline
Vice President - Trade Finance Products
Axis Bank Ltd.
04.2002 - Current
Master of Financial Services - Banking And Finance
Goa University
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