Sujit Kumar Kar
Operation Manager Derivative Confirmation & Middle Office Operation (OTC Derivative confirmations & Trade capture and Amendment)
Bangalore
Summary
- Experienced with implementing comprehensive operational strategies to drive company goals. Uses innovative solutions to optimize workflows and enhance team performance. Track record of fostering effective communication and problem-solving within diverse teams.
- Exceptional Operations Manager focused on successful team building, cost-cutting and operational improvements. Determined to cut costs without impacting quality of products and services. Reliable team player committed to building high-performing teams.
- Managing OTC Derivatives products such as FX , Money Market, CDS and IRD Confirmations and Middle Office Operation for ASIA region.
- Having experience in Investment Banking Middle office and Back-office operations like Trade capture, Control, Confirmation’s (Matching), Settlements, Investigations, and Migration/Onboarding of process/Clients.
- Thorough team contributor with strong organizational capabilities. Experienced in handling numerous projects at once while ensuring accuracy. Effective at prioritizing tasks and meeting deadlines.
- Sound knowledge on various kinds of OTC derivative products such as Rates (IRS, CCS), CDS (Credit default swaps), FX and MM and SG Mumbai Entity Settlement Operations.
- Instrumental in Transition of process from US to India in DB and Singapore to India in SG.
- Instrumental in setting up the MO and BO Team for ASIA region in Bangalore at Societe Generale.
- Managing the Client Service Team for both Repo and Bonds for Tier-1 Clients of ASIA Region.
Overview
13
13
years of professional experience
2011
2011
years of post-secondary education
3
3
Languages
Work History
Operation Manager
Société Générale
01.2018 - Current
- Responsible for Booking quality of transactions and managing deal life cycle events to avoid any operational incident and risk
- Liaising with FO and other stake holders to ensure trades are accurately booked and preventing delays in confirmation and settlement
- Ensures the highest level of quality is achieved in terms of capturing the trade and controlling/validating the trades like Reuters check, broker confirmation checks etc
- Ensuring achievement of Performance level Agreement targets, preventing and mitigating operational losses and utilize budget and resources within established requirements
- Responsible for Trade capture activities like Trade booking, control, modifications , cancellations, FO amendments, handling events like terminations etc
- Handling Confirmation team for FX,IRD,FXO,CDS and MM
- Both Paper and Electronic platforms
- Well adept with applications - FXALL, GTSS, MYSIS along with MT300 and swift matching
- Ensuring trade life cycle event management on time like fixing , expiry etc
- Handling Audit and compliance topics
- Strict adherence to TCA handbook
- Produce Monitoring indicator reports (KPI/KRI)
- Project Lead taken and delivered saves like TSU Control Automation & Confirmation template automation for across the regions
- Leading CCIL Derecognition Indirect Clearing Project for SG Mumbai Entity
- Producing and presenting Governance decks to EXCO and Oversight
- Experience in creating and maintaining CSLA
- Sound knowledge about the Trade life cycle , from Upstream to Downstream flow
- Responsible for managing 3 different Teams of ASIA Region with a total capacity of 20 Headcounts
- Monitor daily activities manual drafting, affirmation, matching, chasing, Trade Control & Capture and ensure to develop a result-oriented working environment within the team
- Do monthly sit-in with team to understand the gaps, training requirements and facilitate programs to address these issues
- Regularly review operational documents, norms documents, process exception documents and product catalogs to eliminate non-value-added activities
- Migrated interest rate exotic product “structured products” process from Paris to India and trained resources to facilitate the smooth migration/deployment of process
- Attend monthly ITEC, operational review and regional governance calls for derivative confirmation and TSU parameter
- Ensuring the timely escalation to FO, MO, clients and other teams to resolve discrepancies and meet the targets
- Instrumental in setting up the Trade Capture Team in Bangalore for Cross Asset of ASIA
- Successfully transitioned FXO Trade Capture and Control Activities or all ASIAN entities from Singapore
- Currently working on setting up Resiliency in Singapore for Trade Capture & Control Activities of ASIA Region
- Lead and executed OKR's like Career Conversation and Resiliency
- Leading the confirmation optimization program to reduce the all manual effort for across the asset class
- Successfully managed crisis situations maintaining focus on priorities while providing guidance for rapid resolution.
- Conducted regular performance reviews evaluating team members contributions towards achieving organizational goals.
- Instituted quality control measures to reduce errors and maintain high standards of service delivery.
- Managed cross-functional teams to ensure seamless collaboration on key projects, enhancing overall performance.
- Continually assessed internal external factors impacting business adjusting strategies accordingly for sustained growth and success.
- Developed strong relationships with key stakeholders, facilitating effective communication channels for better decision-making processes.
- Led successful organizational restructuring efforts, increasing efficiency while minimizing employee turnover.
- Spearheaded process re-engineering efforts that led to significant reductions in overhead costs without compromising quality or safety standards.
- Played an instrumental role in talent recruitment, development, retention strategies which resulted in building high-performing teams across the organization.
- Optimized resource allocation for improved operational efficiency and cost savings across departments.
- Established positive and effective communication among unit staff and organization leadership, reducing miscommunications, and missed deadlines.
- Supervised operations staff and kept employees compliant with company policies and procedures.
- Led hiring, onboarding and training of new hires to fulfill business requirements.
Deputy Manager
Karvy Computershare Pvt Ltd
05.2017 - 01.2018
- Responsible for Managing a team of 36 people for Mutual Fund RMF Banking Operation
- Ensure daily oversight of credited identification process for online/SIP/Mobile & Exchange transactions
- Ensure daily controls checks performed for Subscription reconciliation process for both pool and scheme account, Redemption & Dividend Reconciliation
- Point of escalation for client complaints, delays in query resolution
- Responsible for team to meet daily SOA TAT and Reconciliation targets
- Quality check and validation of end to end process flow
- Run Audit checks on the outcome of reconciliation to maintain a healthy financial status for all schemes
- Liaise with Fund Accounting team (Deutsche Bank) for all differences to be clarified on the reconciliation
- Preparing monthly reconciliation ageing report for both receivable& Excess Credit and presenting in front of management& Client on monthly basis in dashboard meeting
- Reviewing of procedures on a timely basis and getting approval for any changes from management and client
- Ensure timely implementation of informed control for new products and payment gateways
- Interacting with client for daily credit marking and reconciliation issues
- Reviewing daily pool and monthly reconciliation before submitting to fund accountant
- Being subject matter export coordinating with IT team for system enhancement of reconciliation automation tool and training team member about automation tool
Process Supervisor/Team Lead
Deutsche Bank Operational International
06.2012 - 05.2017
- Chasing of confirmations for Deutsche Bank Derivative Documentation Trades for all the Asset Class across platform
- Handling sensitive clients like PIMCO, Wellington, Alliance, Blackrock, Freddie Mac, MKP, Ontario and GMO
- Etc
- Responsible for meeting the EMIR and CFTC Targets
- Liaising with Clients and other operational groups such as Middle Office, Outbound Review and Inbound Review as well as other business units such as Legal, Trader, Marketer, Credit and Compliance (all as appropriate) to ensure the timely execution of trade confirmations
- Build a good rapport with client by providing timely and quality services
- Timely escalation to the Middle Office or Front Office to resolve economic or non-economic discrepancies
- Ensuring that all the SLA’s and KPI’s laid down as per the KOP are followed and there are no audit concerns
- Successfully trained newly joined employees which includes daily assessment of their understandings and performance with regular feedback
- Being an experienced person in Tier one helped team member getting their query resolved for all the asset class and also helped them in preparing the manual upload spread sheet for bond option , Callable Swap and assignment Rates deals
- Accepted Immediate change in Tier 1 Client and started working on critical client like Wellington, Alliance, Ontario, Freddie Mac, GMO, efficient from the first day of change without any client specific training
- Helped Sales team for in credit deal in providing the fund allocations for the clients like Wellington and Alliance
- Prepared MIS data for Rate, Credit, equity deals for Submission and Matching
- Worked on various settlement and confirmation platforms (like CLS,GTSS, Misys and FXALL)
- Good knowledge in CLS payments and IOCLS process
- Good knowledge on NDF products and responsible for drafting MCA and negotiating with interbank, corporates and asset managers
- Sending MT103/MT202 (Manual payments) and MT199/MT299 messages as and when required
- Investigate post settlement breaks and provide findings and/or resolutions to company control and investigation teams
- Using applications like ICE Link, DTCC, MTM (Markit trade manager), Markit wire and Bloomberg to resolve the confirmation discrepancies and amend in the booking system
- Interact with counterparties and Client MO for the trade and cash flow confirmations and resolve the discrepancies in a timely manner to avoid post settlement breaks
- Processing of Mandatory and voluntary corporate Action events
- Role involves performing 4 eye checks for the CA bookings for Client traded positions and stock borrow loan positions
- Daily work allocation between analysts and notifying the management on the risk items
- Conducting team huddles on day-to-day volumes and capacity issues
- Sending MIS reports to management for the upcoming volumes, and helping in resource planning
- Conducting training sessions for the team members to fill the knowledge gap in the process
- Analyzing events, SWIFT messages, consulting with data vendors and agent bank network in case of any discrepancy
- Resolving internal breaks, handling email queries for various teams like client service group and event management teams
- Prepare reconciliation of eligible clients accounts related to hedge fund clients, trading desks, stock borrow loan clients
- Calculating entitlements and post bookings of trading desk, Stock Borrow/Loan Counterparties for corporate action events
- Role involves supporting and liaising with internal trading desks, Prime brokerage clients, Stock loan C/Parties and custodian Banks
- Reconcile Corporate Action Trades booked by desk with Back office systems, identify and resolve any discrepancies, any errors and breaks causing exceptions
- Liaising with the agents & CPTY for the claims of the market trade & stock loan positions
- Payment / receipts for the Market trades and CA entitlements and Settlements via MT 202, MT 599, SPO
Education
MBA/PGDM -
ASBM Bhubaneswar
Skills
Operational efficiency
Organisational Experience
- Société Générale, Bangalore, Trade capture and Confirmation, Delivery Manager (IRD, FXO, FXMM, CDS TSU and DOC), 01/01/18, Present, Responsible for Booking quality of transactions and managing deal life cycle events to avoid any operational incident and risk., Liaising with FO and other stakeholders to ensure trades are accurately booked and preventing delays in confirmation and settlement., Ensures the highest level of quality is achieved in terms of capturing the trade and controlling/validating the trades like Reuters check, broker confirmation checks etc., Ensuring achievement of Performance level Agreement targets, preventing and mitigating operational losses and utilize budget and resources within established requirements., Responsible for Trade capture activities like Trade booking, control, modifications, cancellations, FO amendments, handling events like terminations etc., Handling Confirmation team for FX, IRD, FXO, CDS and MM. Both Paper and Electronic platforms., Well adept with applications - FXALL, GTSS, MYSIS along with MT300 and swift matching., Ensuring trade life cycle event management on time like fixing, expiry etc., Handling Audit and compliance topics. Strict adherence to TCA handbook., Produce Monitoring indicator reports (KPI/KRI), Project Lead taken and delivered saves like TSU Control Automation & Confirmation template automation for across the regions., Leading CCIL Derecognition Indirect Clearing Project for SG Mumbai Entity., Producing and presenting Governance decks to EXCO and Oversight., Experience in creating and maintaining CSLA., Sound knowledge about the Trade life cycle, from Upstream to Downstream flow., Responsible for managing 3 different Teams of ASIA Region with a total capacity of 20 Headcounts., Monitor daily activities manual drafting, affirmation, matching, chasing, Trade Control & Capture and ensure to develop a result-oriented working environment within the team., Do monthly sit-in with team to understand the gaps, training requirements and facilitate programs to address these issues., Regularly review operational documents, norms documents, process exception documents and product catalogs to eliminate non-value-added activities., Migrated interest rate exotic product 'structured products' process from Paris to India and trained resources to facilitate the smooth migration/deployment of process., Attend monthly ITEC, operational review and regional governance calls for derivative confirmation and TSU parameter., Ensuring the timely escalation to FO, MO, clients and other teams to resolve discrepancies and meet the targets.
- Karvy Computershare Pvt Ltd, Hyderabad, MFS.RMF Banking Operation, Deputy Manager, 05/01/17, 01/31/18, Responsible for Managing a team of 36 people for Mutual Fund RMF Banking Operation., Ensure daily oversight of credited identification process for online/SIP/Mobile & Exchange transactions., Ensure daily controls checks performed for Subscription reconciliation process for both pool and scheme account, Redemption & Dividend Reconciliation., Point of escalation for client complaints, delays in query resolution., Responsible for team to meet daily SOA TAT and Reconciliation targets., Quality check and validation of end to end process flow., Run Audit checks on the outcome of reconciliation to maintain a healthy financial status for all schemes., Liaise with Fund Accounting team (Deutsche Bank) for all differences to be clarified on the reconciliation., Preparing monthly reconciliation ageing report for both receivable & Excess Credit and presenting in front of management & Client on monthly basis in dashboard meeting., Reviewing of procedures on a timely basis and getting approval for any changes from management and client., Ensure timely implementation of informed control for new products and payment gateways., Interacting with client for daily credit marking and reconciliation issues., Reviewing daily pool and monthly reconciliation before submitting to fund accountant., Being subject matter expert coordinating with IT team for system enhancement of reconciliation automation tool and training team member about automation tool.
- Deutsche Bank Operational International, Not Specified, OTC Derivatives Confirmations & Asset Services Corporate Action, Process Supervisor/Team Lead, 06/01/12, 05/31/17, Chasing of confirmations for Deutsche Bank Derivative Documentation Trades for all the Asset Class across platform., Handling sensitive clients like PIMCO, Wellington, Alliance, Blackrock, Freddie Mac, MKP, Ontario and GMO., Responsible for meeting the EMIR and CFTC Targets., Liaising with Clients and other operational groups such as Middle Office, Outbound Review and Inbound Review as well as other business units such as Legal, Trader, Marketer, Credit and Compliance (all as appropriate) to ensure the timely execution of trade confirmations., Build a good rapport with client by providing timely and quality services., Timely escalation to the Middle Office or Front Office to resolve economic or non-economic discrepancies., Ensuring that all the SLA’s and KPI’s laid down as per the KOP are followed and there are no audit concerns., Successfully trained newly joined employees which includes daily assessment of their understandings and performance with regular feedback., Being an experienced person in Tier one helped team member getting their query resolved for all the asset class and also helped them in preparing the manual upload spreadsheet for bond option, Callable Swap and assignment Rates deals., Accepted Immediate change in Tier 1 Client and started working on critical client like Wellington, Alliance, Ontario, Freddie Mac, GMO, efficient from the first day of change without any client specific training., Helped Sales team for in credit deal in providing the fund allocations for the clients like Wellington and Alliance., Prepared MIS data for Rate, Credit, equity deals for Submission and Matching., Worked on various settlement and confirmation platforms (like CLS, GTSS, Misys and FXALL)., Good knowledge in CLS payments and IOCLS process., Good knowledge on NDF products and responsible for drafting MCA and negotiating with interbank, corporates and asset managers., Sending MT103/MT202 (Manual payments) and MT199/MT299 messages as and when required., Investigate post settlement breaks and provide findings and/or resolutions to company control and investigation teams., Using applications like ICE Link, DTCC, MTM (Markit trade manager), Markit wire and Bloomberg to resolve the confirmation discrepancies and amend in the booking system., Interact with counterparties and Client MO for the trade and cash flow confirmations and resolve the discrepancies in a timely manner to avoid post settlement breaks.
Personal Information
- Father's Name: Mr. Niranjan Kar
- Date of Birth: 03/15/89
- Gender: Male
- Nationality: Indian
- Marital Status: Married
Timeline
Operation Manager
Société Générale
01.2018 - Current
Deputy Manager
Karvy Computershare Pvt Ltd
05.2017 - 01.2018
Process Supervisor/Team Lead
Deutsche Bank Operational International
06.2012 - 05.2017
MBA/PGDM -
ASBM Bhubaneswar
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