NIKHIL VARSHNEY

• Expanding on partnerships for SMESOUK( https://smesouk.com/). Marketplace platform was developed especially for SMEs in region and Monetised it for bank.
• Idea is to develop and provide SME's marketplace to market their products and develop partnerships in click.
• Key partnerships introduced are TAlly, JAFZA, MI Capital, Zomato. Tie Dubai, Invoice Bazaar.
• Currently heading diversified Commercial Liability/Transaction Banking Portfolio for bank.Increased YoY Liability CASA book growth, NII (income), Trade Revenue, Cash Management sales and Asset cross-selling.
• Quarterly review with Senior Leadership on overall P/L numbers.
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Current Projects and Deliverables

• Spearheading STP - Digital Onboarding program for Client onboarding of Business Accounts.
• Representing Business to enable effective Compliance onboarding process, Post -facto transaction monitoring and implementing Central Bank policy and guidelines.
• Spearheading Channel- tie-ups with Freezone authorities, Dept. of Economy & Tourism, RAKEZ, JAFZA, DIFC.
• Positioning and being part of building successful Commercial Banking Verticle for bank.

Contribution to Organization

• Managing AED 7.2 bn Liability portfolio under commercial segment. Key deliverables to increase YoY FX revenue by AED 8mm. and CAC trade booking revenueby AED 5mm.
• Established Loan against POS receivables product proposition in 2017. (refer RAKBANK website)
• Established CREL(Commercial Real Estate Lending) product proposition in 2017.(refer RAKBANK website)
• Established and launched thetheRAKelite product variant for SME - Liability acquisition. (refer RAKBANK website) in 2018.
• Established CMS(Cash Management Package) services for SME clients in 2019.( refer RAKBANK website)
• Introduced Commercial Elite Product Proposition for Commercial Clientele in 2023. (refer RAKBANK website)

Ongoing Responsibilities

• Devising account strategies on portfolios to shape incremental growth by developing and implementing effective monitoring tools.
• Identifying relevant risks & suggesting mitigations, taking into consideration of prevailing economic environment, industry norms and benchmarks.
• Ensuring compliance policies requirements and Group procedures.
• Promoting new business, preparing and profiling for new existing clients by conducting SWOT & detailed, operational analysis.
• Oversaw daily operations to achieve high productivity levels.
• Conducted testing to diagnose system faults.
• Increased customer satisfaction by resolving issues.
• Delivered tailored assistance to customers with disabilities.

NBAD launched their program lending business in FY 2014. I was part of founding Senior leadership team to establish business.

• Successful inacquiring Liability, Business Instalment loan products (Business Loan, POS loan & Asset Back Finance).
• Managed Sales for Dubai, Sharjah, and Northern Emirates Region
• Responsible for enhancing commercial Program lending products.
• Deliver on acquisition of Program lending and liability portfolio as management objectives.
• Devising account strategy and keeping portfolio in healthy shape by developing and implementing effective monitoring tools
• Responsible for NPLs and evaluated performance of sourcing and team in times of market crisis in FY- 2015, and2016.
• Worked closely with product, risk and collection units to manage Asset portfolio health and provisions.

Book Growth

• AED 300 mm Program Lending Booking in FY 2014 to over AED 1.5 bn Asset book growth by FY 2015.
• Acquired 3000 NTB Liability Customers with AED 900 mm CASA book.

Accolades & Achievements

• “Nominated & Selected for Professional Banker program from Commercial Banking department."

• Effectively Managed Distribution Channels for Dubai and Northern Emirates for SME -Liabilities, Business loans for organization.
• Achieving & communicating complex financial numbers to team for liability & Asset(Business loan) acquisition within business.
• Managed and built distribution unit with multiple levels reporting of Unit Managers, RM's and Direct Sales Agents.
• Managing & monitoring the performance of team members to ensure efficiency in business operations & meeting revenue/collection targets

Accolades & Achievements:

• Acquire and managed NTB SME- Liability book of AED 2.3 bn from FY 2009-2011.
• Acquire and Build business Loan Book of AED 360 mm from FY 2011-2012
• “SME SUPERSTAR Award for outstanding contribution to Overall Business 2011.
• “SME SUPERSTAR Award for outstanding Contribution SME-Distribution Business, 2010

It was an opportune time to mix excitement with risk & higher returns. Dubai gave me an opportunity to work in most aggressive bank - Mashreq to be a part of a newly established Banc assurance business in a nascent market.

Key Responsibilities

• Business development by providing financial planning services HNI and SHNI and selling them benefits of Protection, Saving &Investment Plan.
• Achieving set targets for Insurance products through branches of Mashreq Bank.

Accolades & Achievements

• "Awarded outstanding performer 2007 award by Head of RBG."
• "Qualified first ever Olympics trip organized by Mashreq {Oct-Dec2007}.".