Vikas Shetty
Summary
With over 17 years of banking experience in KYC/ AML functions, Middle and Back-Office operations, as well as Customer Relationship Management, I bring a wealth of knowledge and skills to the table.
Overview
17
17
years of professional experience
Work History
Vice President - WKO Client Office
J.P. Morgan Chase Bank
Dubai, UAE
02.2021 - Current
- Team Leadership: Lead a team responsible for managing New to Bank, Renewals and Remediation clients, ensuring timely completion of tasks.
- Stakeholder Management: Regularly engage with stakeholders from various business units such as Global Corporate Bank, Investment Banking, Payments, Trade, Platform Services, Markets to provide updates on client population and address any concerns.
- Partnership Development: Build strong partnerships with internal teams such as Reference Data, Corporate Tax, Quality Control & Assurance, Compliance, and Screening teams to address challenges and remove obstacles.
- Team Management: Manage a team of professionals across different locations including Dubai, Riyadh, Warsaw and Johannesburg.
- Escalation Management: Handle escalations effectively by participating in calibration calls with quality teams and external clients to resolve concerns and queries.
- Regulatory Engagement: Participate in regulatory meetings with regulatory authorities such as Dubai Financial Services Authority (DFSA) and Qatar Financial Centre Regulatory Authority (QFCRA).
- Quality Leadership: Nominated as Quality Lead to represent branches on quality calls and share updates with senior management. Conduct sessions with Making and MO teams to emphasize the importance of quality and share best practices.
Senior Associate - Wholesale Client Onboarding
J.P. Morgan Chase Bank
Dubai, UAE
11.2014 - 01.2021
- End-to-End Client Experience: Served as the single point of contact responsible for ensuring a seamless client experience throughout the onboarding process, both locally and internationally, for global and complex requests.
- New Business Requests: Efficiently managed new business and new-to-bank requests from the front office, overseeing the entire KYC due diligence process.
- Workflow Management: Coordinated the smooth flow of information between multiple stakeholders such as local and regional bankers, client service teams, global compliance/ sanctions team, and KYC case leads.
- Timely Completion: Ensured KYC records were completed efficiently and timely to meet regulatory and transactional deadlines.
- Senior Management Reporting: Prepared escalation trackers for senior management, highlighting cases not resolved within agreed timelines.
- Subject Matter Expertise (SME): Acted as a SME for clients regarding KYC-related queries, proactively resolving concerns with a quick turnaround.
- Process Improvement: Identified and executed process improvements, providing guidance and support on key process and technology initiatives to the business.
Associate - Global Emerging Markets Middle Office
J.P. Morgan Chase Bank
Dubai, UAE
11.2013 - 10.2014
- Trade Confirmation and Reconciliation: Confirming trades and reconciling economic attributes of FX & IR Swaps booked in the Risk Management System against trade recaps from Brokers/Sales. Investigating discrepancies and liaising with relevant teams to execute economic and non-economic amendments in the Risk Management System.
- Query Resolution and Risk Mitigation: Resolving queries related to trade discrepancies and ensuring effective risk mitigation strategies are implemented.
- P&L Control Governance: Monitoring and maintaining control governance over any significant Profit & Loss (P&L) movements. Sending End-of-Day (EOD) mails to the P&L team regarding past cashflow adjustments, mark-to-market (MTM) changes, credit, and brokerage charges.
- Fixing and Discrepancy Elimination: Ensuring the application of weekend SAR & AED floating rates to trades booked in the Risk Management System to eliminate discrepancies for the Settlements team.
- Technology Workflow Enhancement: Collaborating with different technology teams to enhance current workflows, thereby saving time and increasing efficiency in trade processing.
- Local Regulatory Reporting: Reporting sales trades on a quarterly and annual basis to the Dubai Financial Services Authority (DFSA) to maintain compliance with local regulations.
Team Lead - Global Rates Middle Office
J.P. Morgan Chase Bank
Mumbai, India
04.2011 - 10.2013
- Investigation and Amendment Execution: Investigating discrepancies and liaising with the Risk Middle Office.
Executing economic and non-economic amendments within a specified threshold of $5k in the Risk Management System.
- Trade Checkout and Reconciliation: Performing internal trade checkout functions for Vanilla trades booked in the Risk Management System.
Utilizing Inter-Entity TLM reconciliation for ensuring accuracy and alignment of internal trades.
- Governance of Reports: Ensuring proper governance around daily, weekly, and monthly reports by circulating them to stakeholders.
Investigating and resolving exceptions highlighted in the reports to maintain data integrity and compliance.
- Process Improvement: Identifying gaps in the existing REFIX process and actively collaborating with the Risk Management System Application Development (AD) team to address and fix them.
- Reconciliation Tasks: Responsible for reconciling records, particularly focusing on reconciling data between the Risk Management System and MWIRE (presumably another system or platform).
Senior Analyst - Rates Confirmations
The Royal Bank of Scotland
Mumbai, India
04.2007 - 03.2011
- Quality Reviewer: Part of Derivatives Confirmation Four Eye Review team (Quality team).
- Workflow Improvements: Appropriate implementation and communication of workout ideas generated within area. Work-Out program is RBS Group’s problem solving framework, which addresses business challenges by providing the opportunity to identify problems and provide solutions.
- Error Management Monitoring and Reporting: Ensuring that Correction Action/ Prevention Action (CAPA) is completed for team members who make major errors in the process. Monitoring the performance of team members to ensure adherence to quality standards and protocols. Providing feedback to the respective individuals and monitoring their performance, while simultaneously documenting the CAPA.
Education
Skills
- Ability to work under pressure to meet tight deadlines
- Effectively work either as part of a team or independently
- Ability to grasp and adapt to new information, processes and skills rapidly
- Lateral thinking
Accomplishments
Interim Management: Successfully managed the Middle East, North Africa, Turkey, and Pakistan (MENATP) WKO teams during my direct manager's 8-month maternity leave in 2019.
Secondment to London: I was the first individual from my department at RBS to be sent on secondment to London for 6 months to work with the onshore Interest Rates Query team between May and Oct 2010.
Management of Riyadh Branch WKO Team: I was handed over the responsibility to manage the local team towards the end of 2019. Under my guidance, the team successfully achieved zero overdue renewals consecutively in 2022 and 2023.
Mentorship and Training: Successfully mentored and trained my team, ensuring their vertical growth within the function, 5 individuals across Dubai, Riyadh and Johannesburg were promoted,
Timeline
Vice President - WKO Client Office
J.P. Morgan Chase Bank
02.2021 - Current
Senior Associate - Wholesale Client Onboarding
J.P. Morgan Chase Bank
11.2014 - 01.2021
Associate - Global Emerging Markets Middle Office
J.P. Morgan Chase Bank
11.2013 - 10.2014
Team Lead - Global Rates Middle Office
J.P. Morgan Chase Bank
04.2011 - 10.2013
Senior Analyst - Rates Confirmations
The Royal Bank of Scotland
04.2007 - 03.2011