SUMESH SOMANATHAN
Bangalore
Summary
Dynamic Operations Management Leader with a proven track record at State Street, recognized for driving the successful transition to T+1 settlement, significantly enhancing operational efficiency across global markets. Expert in team development, leading to substantial productivity gains and fostering cross-functional collaboration. Known for strategic goal development and comprehensive risk control, consistently surpassing performance benchmarks.
Overview
20
20
years of professional experience
Work History
Vice President – Operations (Global Trade Support)
State Street
Bangalore
01.2009 - Current
- Company Overview: 3rd largest Investment Manager
- Established a team of 35 members (24/5 support) responsible for Trade lifecycle management across asset classes i.e
- Equity, Fixed Income, Forex, F&O and Money Markets for State Street (3rd largest Investment Manager), split between Bangalore and Hyderabad
- Managing Client relationship across locations and working with Industry peers on market trends and developments
- Led the operational implementation of T+1 settlement structure for India and US markets
- Collaborate with senior management to establish and recommend performance parameters in line with organizational goals
- Responsible for key people functions including annual performance reviews, budgeting, attrition management and mentoring
- Leading cross functional interactions to improve process functions involving multi domain support
- Designed and implemented a structured cross training module with the aim of building cross-functional expertise across departments
- Proven track record of ability to lead, coach and develop a high performing team in a large organization
- Ability to operate effectively under diverse cultural and business environments; cultural sensitivity for the region, with an international outlook
- Review and Improvise on Business Continuity plans in light of evolving working patterns
- Leading a team of 50 members responsible for Cash and Holdings Reconciliation covering all 3 service locations
- Ensuring adherence to KPI and SLA parameters set for the team
- Managing people functions including annual performance reviews, attrition, mentoring and training
- Successful migration of the Reconciliation process performed by AIG Dublin to Bangalore
- Travelled for transition of the Reconciliation process under AIGGIG with Bank of New York from New York to Bangalore
- Transitioned Deutsche Bank’s NOSTRO Reconciliation Process, one of the biggest funds handled by DB Frankfurt
- Ensure back-up plans are in place from a cross training perspective with an aim of building multi-locational
- Driving projects with an aim of bringing in productivity gains and achieving efficiency
- Project Manager on a Lean Initiative within the Recon space carving out a total saving of 4 FTE’s
- Coordinating BCP Tests (Primary Site down testing) in liaison with Risk assessment teams
- Engaging in interactions with onshore teams related to transition of activities and transfer of knowledge
- 3rd largest Investment Manager
Team Lead – Reconciliation
HCL
Bangalore
01.2005 - 01.2009
- Post trade Holdings /Asset reconciliation of Fixed Income securities with the custodian statement in Open Staars (Securities Transactions and Asset Reconciliation System) and associated reporting
- Liaising with the custodian banks on Trade/Corporate Action issues
- Formulating training content for the betterment of the process and team members
- Preparing monthly competency grid of the team members
- Initiated process improvements to bring in greater automation
- Continuously strived for operational excellence as well as cross functionality by being able to handle reconciliation across locations i.e
- New York and Dublin
- Strived for and ensured very minimal customer escalations
Education
MBA -
Symbiosis University
BL -
Sambalpur University
B.Com -
Sambalpur University
Skills
- Leadership
- Operations Management
- Audit and Compliance
- Financial Regulatory Reporting
- Comprehensive Risk Control Review
- Team Coordination
- Quality Assurance
- Project Management
- Strategic Goal Development
- Conducting Performance Reviews
Languages
- Malayalam
- English
- Hindi
- Odiya
- Tamil
Timeline
Vice President – Operations (Global Trade Support)
State Street
01.2009 - Current
Team Lead – Reconciliation
HCL
01.2005 - 01.2009
MBA -
Symbiosis University
BL -
Sambalpur University
B.Com -
Sambalpur University
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