Madhuvasant Prabhu
Dubai
Summary
Seeking a position with growth-oriented company offering opportunity for advancement and professional development, requiring extensive experience in banking and financial services and management experience.
A high-energy, enthusiastic and dependable individual who excels in challenging and competitive environments with incredible experience in banking and financial services. Met and exceeded quotas and accomplished delegated objectives. Successful track record of with high responsibility position. Fast learner; quickly incorporate and implement new procedures. A solid work ethic in delivering high-quality service to customers. Expertise in managing operations with key focus on optimal utilization of resources, defining, developing and implementing initiatives that will improve core entity business processes. Resourceful leader adept at process re-engineering initiatives to increase service quality, customer loyalty and customer satisfaction. Proficient at maintaining the cordial relationship with customers, ensuring quality and service norms to achieve customer satisfaction and business retention. Ability to develop excellence in transactional quality frame work & implementation. Fantastic organizational and budget management skill. Sound knowledge and understanding of communications tools and public relations techniques. Highly communicative manager who motivates and mentors people at all levels.
Overview
24
24
years of professional experience
Work History
Head of Compliance
CTA Group
11.2024 - Current
- Review trade documents such as contracts, invoices, bills of lading, and shipping documents ensure compliance with banking and regulatory requirements.
- Ensure accuracy and completeness of documents required for trade transactions, addressing discrepancies promptly.
- Work with trading and operations teams to maintain high compliance standards across all trade documentation.
- Align trade documents with the compliance requirements of banks, ensuring all necessary documentation is submitted correctly.
- Support the treasury team by verifying that all required documents are available and compliant before executing payments and other financial transactions.
- Stay updated on changes in bank compliance requirements and adjust documentation practices accordingly.
- Manage the documentation process for opening and maintaining bank accounts in various jurisdictions, ensuring all compliance requirements are met.
- Prepare and compile required documents, such as KYC (Know Your Customer) information, company registrations, financial statements, and other supporting materials for bank account applications.
- Liaise with banks to resolve any issues or additional documentation requests, ensuring timely account opening and maintenance.
- Verify the adequacy of supporting documents for all treasury transactions, ensuring compliance with internal and external requirements.
- Maintain organized records of all compliance-related documents to support internal reviews.
- Coordinate closely with the treasury team to ensure a seamless flow of compliant transactions.
- CTA group specializes in trading agricultural bulk products, focusing on the buying and selling of open contracts that present profitable opportunities. At GLTA we never pause but constantly reach for improvements and innovation in our operation and services. This dedication has served our customers and continues to help define our standard for success.
Sanctions Screening Associate
Abu Dhabi Commercial Bank
02.2022 - 11.2024
- Customer screening through system like FIRCO/ TRSD/ Lend Perfect which is part of World check and Internal blacklist of bank and Central bank of UAE assisted systems.
- Assisting WBG, digital banking (HAYYAK) online departments in onboarding customers and entities.
- Generation of data for periodic review and monitoring team productivity.
- Managing RTM (Real Time Management) to update daily volumes and time management for team analysis.
- Liaise with department heads to deliver targets for month end sales and compliance deadlines.
- Assist Group Compliance in logging STR for customers sanctioned by system screening.
- Creating data management for audit and quality assurance team guided by CBUAE audit.
- PEP screening for UAE and Non UAE individuals and entities and BCA testing.
- Assisting Al Hilal Bank (part of ADCD) in compliance screening for new entities and existing customers.
- ADCB Group is a leading UAE banking group that provides over 1 million customers with a full suite of products and services, spanning Consumer Banking, Wholesale Banking, Treasury & Investments and Property Management. ADCB operates a network of 54 branches and over 427 ATMs across the UAE.
Compliance Analyst (Contract)
Emirates NBD
09.2021 - 02.2022
- Transaction monitoring with STR and SAR reporting to group compliance team.
- TT returns with OWC checks in DJFactiva and adverse media information.
- CDD updation with department and branch along with closure of suspicious accounts.
- Account status checks in finnacle and cognos for FTR reports and EDD submission.
- Investigate fraud cases for appropriate action as per BU recommendation.
- Daily MIS for new assigned cases and management reporting for audit.
- Emirates NBD was initially the first national bank established in Dubai. NBD merged with Emirates Bank International (EBI) on 6 March 2007, to form Emirates NBD. On 16 October 2007, the shares of Emirates NBD were officially listed on the Dubai Financial Market (DFM).
Compliance Officer
Bank Melli Iran U.A.E
01.2018 - 05.2021
- Compliance checks for account opening procedure ensuring branches adhere to Central bank of UAE guidelines.
- Help in Setting up of Compliance & AML framework for the bank.
- Transaction monitoring for AML with per day volumes up to 500 transactions through CB systems, branch transactions.
- Notices and report log on daily basis sent by Central bank UAE. Through CB systems.
- Internal audit of branches to check compliance and AML policies are followed.
- Team management with work allocation to prevent backlog.
- Reply back on IEMS (INTEGRATED ENQUIRY MANAGEMENT SYSTEM) reporting action taken on fraudulent accounts.
- Compliance Policy Committee meetings with department heads and Regional Director to update on new compliance guidelines are set and followed by branches.
- Compliance workshops & meeting at Central Bank, Abu Dhabi in regards to Compliance framework.
- RBS reporting to Central bank UAE in accordance to data collated with other departments like Risk, Credit, H.R, Audit.
- BMI has grown to become a large retail bank with several domestic and international branches. BMI opened its first foreign branch in Hamburg, Germany, in 1965. BMI is now the largest commercial retail bank in Iran and in The Middle East with over 3,300 branches and 43,000 employees. Bank Melli Iran is owned and operated by the government of Iran.
Compliance Officer (Contract Ended)
Abu Dhabi Islamic Bank U.A.E
03.2016 - 08.2017
- Support the Head of Retail Sales Governance for sales governance and Control activities for retail business.
- Monitor suspicious transactions with volumes up to 2000 transactions per day and report of any suspicious activities to Central compliance team.
- Work closely with line manager, RM's and team and ensure productivity and items requiring urgent attention.
- Ensure that new to bank files are screened and update the business as per the TAT.
- Assist in payment / RCSA/collection cheques and cheque bounce cases review and documentations.
- Assist in cleaning and investigating AML / Payments alerts and correspondent bank queries.
- Act as gatekeeper for insurance and investment deals and to ensure that call back are done as per script to protect client's interest.
- Complete High Risk reviews for retail business to ensure proper KYC, that ADIB Expat SBU NTB sourcing is screened as per policies in accordance with ADIB UAE requirement.
- Act as Gate keeper for all new to bank business especially for high risk/ sanctioned country nationals and high risk business and ensure proper checks are done prior onboarding of individuals and Entities.
- Complete controls related activities to ensure retail business remains compliant with local and overseas regulations.
- Research on the client background through bank systems and external public domains especially high risk and sanction Country nationals/ entities.
- Ensure adherence to banking regulations and company guidelines relating to customer acceptance, data protection, Money laundering and KYC and CFT guidelines.
- Educate teams by providing training on key policies and procedures such as Sanctions, AML and CTF.
- Reply through Swift on Correspondent Bank queries and returned remittances hence identify root cause analysis.
- Monitor International media for news to identify financial crime risks which may potentially impact the bank through World check.
- Abu Dhabi Islamic Bank was established on 20th May 1997 as a Public Joint Stock Company through the Amiri Decree No. 9 of 1997. All contracts, operations and transactions are carried out in accordance with Islamic Shari'a principles.
Operations Officer (Contract Ended)
Noor Bank U.A.E
08.2014 - 01.2016
- Direct debit system DDS instruction setup and UAT testing.
- Handling Inward remittance team comprising of 15 members.
- Obtaining Compliance checks, KYC updates along with central bank checks.
- Inward remittances for both local and foreign currency.
- Call back for payment verification as per payments forwarded by branch and avoid duplicity.
- Specialized in Cash Management and Remittance Products, SWIFT products like MT203 /103 International Payments & Settlements.
- Monitoring UAE Fund Transfer System (RTGS), UAE Direct Debit System up to 1500 transfers per day.
- Manual setup of payment instructions in system.
- Liaise with compliance team to prevent any payouts with SDN issue and control AML.
- Work under central bank guidelines to ensure settlements are processed within TAT specified.
- Noor Bank (formerly Noor Islamic Bank) was established in January 2008, in Dubai - United Arab Emirates. Noor Bank was named the 'Best New Bank' at the Bankers Middle East Industry Awards in 2009, and 'Best New Islamic Bank' by the International Islamic Finance Forum in 2008.
Assistant Manager
Barclays Bank Plc India
05.2011 - 05.2012
- Handling the Inward remittance team comprising of 3 Team leads and 15 members.
- Proper verification of document & authorization of FCY transaction through SMS Star avoiding duplication and multiple payments through EDD and KYC verification with volumes rising to 5000 transactions.
- Foreign inward remittance certificate (FIRC) documentation for monitoring LC's.
- Through background screening of clients to clear any fraud or duplication of accounts.
- Keeping proper track of INR remittance & send them for RTGS & NEFT through FCR and Internal payments after being authorized and quarterly checks of documents.
- Investigating KYC of clients before payments under RBI guidelines.
- Connecting SMS Star system to Flex cube server i.e FCC (Flex cube cash) which captures all payment details for I.T team to check straight through process.
- FCC payments modeled in such a way that they pass through SFMS which identifies payment threshold and accordingly, are routed out through NEFT and Flex@RTGS.
- Processing of MICR (Inward/Outward) clearing that includes authorizing cheques through Cash tech system which is programmed to catch amount discrepancies and fraudulent clients preventing anti money laundering.
- Provide support for flex cube I.T team in terms of payments struck in FCC gateway to avoid duplicate payments and multiple entries by giving access to kill queue option before end of day task is done avoiding misuse of funds.
- Barclays bank is in India for nearly three decades, through Barclays Capital, a leading Investment bank and more recently with our retail and commercial banking services. We invest and protect money for more than 50 million customers in over 50 countries and have over 300 years of history and expertise in banking.
Process Supervisor / Acting Manager
Deutsche Bank Operational Private limited
12.2007 - 04.2010
- Responsible for generating team report for QA Lite, Benchmark and Volume and Sanction screening.
- Accountable on capacity utilization with CI projects along with the streamlining process under compliance guidelines.
- Handle swap cash reconciliation between equity swap system and computron.
- Responsible for booking trades and changing tenures for swaps for front office.
- Fx reconciliations involves trade match and amendments and SWIFT Transfers for deals up to 10000 per day.
- Managed the migration team in London and evaluated their daily benchmarks along with constant onshore interaction.
- Handled identical and integrated trades in London middle office systems.
- Also successfully conducted UAT testing for London reconciliation system i.e.(Payment Blotter) which was shifted from London server to U.S server due to increase in trades hence was responsible for its smooth running and successful upload of trades.
- Deutsche Bank is a leading global investment bank with a strong private client's franchise. Its businesses are mutually reinforcing. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets.
Derivatives settlements & Charges Compensation specialist
J P Morgan Chase India Services Pvt Ltd
05.2005 - 11.2007
- Responsible for DTCC match exception and SWIFT transfers along with RTGS payments up to 10000 per day.
- Accountable for resolution of trade by establishing their cash flows.
- Responsible for maintaining, wiring instructions and changing settlement instructions for A/c with KYC setup thus complying with risk controls.
- Managing cash flow for external and internal counter party and send settlement/refix advises on due date.
- Responsible for classifying counter parties according to their designation and assign charges and recovery after directing payments back to owner A/C in case of insufficient funds.
- Responsible member of migration team to migrate the derivative Back office process from Delaware (U.S.A) with team in the month of Sep 04 2006 successfully.
- J.P. Morgan is a leader in financial services, offering solutions to clients in more than 100 countries with one of the most comprehensive global product platforms available. J.P. Morgan is a leader in asset management, investment banking, private banking, treasury and securities services, and commercial banking.
Working Capital Client Service Officer
ABN AMRO Central Enterprises Service India Pvt Ltd
12.2002 - 05.2005
- Responsible for evaluating the requests regarding RTGS fund transfer and direct credits up to 2000 per day.
- Accountable for corporate account maintenance and nostro A/c with EDD checks.
- Managed banking operations, back office operations, online requests, customer service and processing of credit cards/personal loans/auto loans.
- Advising which investment option through equities, mutual funds and swaps.
- Knowledge of core banking system i.e Finnacle.
- Responsible for preparing ISO reports, reviewing productivity and KYC updation.
- ABN AMRO is a bank that understands and supports clients in achieving their ambitions; a financial services provider that shows integrity and keeps its promises. It wants to build enduring relationships with its clients.
IT Service Executive
Easy Buy Store .Com
07.2002 - 12.2002
- Responsible to provide customer satisfaction through quality service and value.
- Accomplished a fine business development by nurturing existing clients through regular interaction and updating them and exploring new clients.
- Updated the client about company's products on a regular basis according to the client's needs.
- Performed an effective cost benefit analysis for Clients.
- Responsible to provide Information & Advisory services regarding the New Technology and backend services.
- Easy Buy Store. Com is an online computer store.
Education
Bachelor of Commerce -
University of Mumbai
Diploma in Software Engineering -
APTECH
Skills
- Operating Systems
- Office Tools
- Programming Languages
- DBMS
- RDBMS
- RAD Tools
- Dos 60
- Linux
- Windows 95
- Windows 98
- Windows NT
- MS-OFFICE 2000
- Word
- Power Point
- Excel
- Internet Operations
- C
- Java 60
- FoxPro 26
- Oracle 80
- Developer 2000
Accomplishments
- Awarded certificate for excellence in 01/2015 and in 05/2015 for overall performance within one Year.
- Awarded Certificate For Excellence in ABN Amro For the Months: 01/2003, 02/2003, 04/2003, 06/2003, 10/2003, 11/2003, 03/2004, 06/2004, 07/2004.
- Won the Champ of the Quarter award for derivatives in J P Morgan Chase for 05/2006 settlements and Spot award for clearing maximum historic exception and backlog.
- Attained Spot Award for the month of 09/2009 and 11/2009 in Deutsche bank for stock loans trader data.
- Attained recognition for onboarding requisite number of candidates for 01/2015 from Noor Bank.
- Received state level recognition for cricket.
Passport Number
X9269028
Visa Driving License
Yes
Languages
- Hindi
- Marathi
- German
- English
- Hindi
- Marathi
- German
Training
- Implications of the upcoming FATF Mutual Evaluation & Recent Industry Development (UBF Compliance Committee).
- Dormant Account Regulations Workshop.
- GOAML System implementation and testing.
- Regulatory Reporting (RBS Data Survey).
- National Risk Assessment Outreach.
- NESA UAE Information Assurance Standard.
- Sanctions Screening Systems.
- AML/ CFT Data Collection Survey.
- Operational Risk Management (EIBFS).
Profile Overview - Summary
- A high-energy, enthusiastic and dependable individual who excels in challenging and competitive environments with incredible experience in banking and financial services.
- Met and exceeded quotas and accomplished delegated objectives.
- Successful track record of with high responsibility position.
- Fast learner; quickly incorporate and implement new procedures.
- A solid work ethic in delivering high-quality service to customers.
- Expertise in managing operations with key focus on optimal utilization of resources, defining, developing and implementing initiatives that will improve core entity business processes.
- Resourceful leader adept at process re-engineering initiatives to increase service quality, customer loyalty and customer satisfaction.
- Proficient at maintaining the cordial relationship with customers, ensuring quality and service norms to achieve customer satisfaction and business retention.
- Ability to develop excellence in transactional quality framework & implementation.
- Fantastic organizational and budget management skill.
- Sound knowledge and understanding of communications tools and public relations techniques.
- Highly communicative manager who motivates and mentors people at all levels.
Personal Information
- Expected Salary: Negotiable
- Nationality: Indian
- Visa Status: Resident
Languages
English
Proficient
C2
Timeline
Head of Compliance
CTA Group
11.2024 - Current
Sanctions Screening Associate
Abu Dhabi Commercial Bank
02.2022 - 11.2024
Compliance Analyst (Contract)
Emirates NBD
09.2021 - 02.2022
Compliance Officer
Bank Melli Iran U.A.E
01.2018 - 05.2021
Compliance Officer (Contract Ended)
Abu Dhabi Islamic Bank U.A.E
03.2016 - 08.2017
Operations Officer (Contract Ended)
Noor Bank U.A.E
08.2014 - 01.2016
Assistant Manager
Barclays Bank Plc India
05.2011 - 05.2012
Process Supervisor / Acting Manager
Deutsche Bank Operational Private limited
12.2007 - 04.2010
Derivatives settlements & Charges Compensation specialist
J P Morgan Chase India Services Pvt Ltd
05.2005 - 11.2007
Working Capital Client Service Officer
ABN AMRO Central Enterprises Service India Pvt Ltd
12.2002 - 05.2005
IT Service Executive
Easy Buy Store .Com
07.2002 - 12.2002
Bachelor of Commerce -
University of Mumbai
Diploma in Software Engineering -
APTECH