Summary
Overview
Work history
Education
Skills
Timeline
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Babu Chellappa

London

Summary

Dynamic and results-oriented Regulatory Compliance and Operational Risk Management professional with extensive expertise in Payments, Financial Crime Compliance, and Cybersecurity.

Skilled in managing mid to large and complex engagements across diverse sectors, including retail banking and e-money operators, while designing and implementing robust Regulatory Compliance frameworks aligned with three lines of defence governance model.

Demonstrated leadership in mentoring teams of compliance specialists and collaborating with cross-functional stakeholders to ensure adherence to regulatory obligations. Recognized industry expert and thought leader with certifications in International Advanced Anti-Money Laundering and Financial Crime Prevention.

Proven track record of leading and delivering comprehensive Regulatory and Compliance Risk assurance initiatives, including Fraud Risk and AML reviews, Scheme Compliance assessments, and Transaction Banking oversight.

Adept at driving regulatory change initiatives, developing policy and control frameworks, and executing critical payments regulatory initiatives such as Scheme attestations (CQUEST, CHAPS, BACS, FPS), Account Switching, SWIFT CSP, PSD2 SCARTS, Open Banking, and API/E-money FCA license registrations.

Overview

14
14
years of professional experience
4
4
years of post-secondary education

Work history

SENIOR PAYMENTS ADVISOR – REGULATORY COMPLIANCE AND ASSURANCE

Handelsbanken
London
01.2021 - 07.2025
  • Lead compliance advisor for regulatory frameworks, ensuring ongoing adherence and issue resolution.
  • Chaired cross-functional reviews of emerging payment risks, shaping robust mitigation strategies and safeguarding business interests.
  • Managed stakeholders across business and tech, monitoring payment compliance risks effectively.
  • Monitored regulatory developments, ensuring business practices remained aligned with evolving requirements and reducing compliance risks.
  • Reviewed cross-border payment protocols, ensuring alignment with new regulatory requirements and supporting seamless transaction processing.
  • Partnered with product teams to interpret new regulatory guidance, promoting seamless integration with business operations.
  • Worked closely with IT teams to clarify regulatory interpretations, ensuring technical implementations matched compliance standards.

SENIOR REGULATORY COMPLIANCE ADVISOR

Consulting engagements representing Grant Thornton
London
03.2019 - 12.2020
  • Engagement lead and Senior regulatory compliance advisor to the Scheme compliance team in reviewing the Payments applications, Card operating rules, CHAPS, LINK and PSD2 SCA projects.
  • Managed diverse stakeholders from across various business and technology functions, ensuring that the payment compliance risks are appropriately managed, monitored and reported as appropriate.
  • Successfully delivered the audit report aligned to the audit methodology and advised the client on various control gaps in technology and operations functions.Assessed card operating rules and CHAPS procedures, ensuring adherence to industry standards with marked improvements in risk control.
  • Facilitated cross-functional workshops to address PSD2 SCA requirements, promoting shared understanding and streamlined compliance.
  • Supported the implementation of revised controls, leading to measurable progress in operational resilience and audit readiness.
  • Provided ongoing guidance to team members, fostering a culture of continuous improvement within client compliance functions.
  • Evaluated emerging regulatory changes, enabling clients to anticipate compliance needs and adapt strategies for ongoing readiness.

PSD2 REGULATORY COMPLIANCE SPECIALIST

Multiple financial institutions
London
06.2017 - 02.2019
  • Engagement lead and subject expert in PSD2, successfully delivered the PSD2 Compliance risk assessments as per the regulatory guidelines.
  • Information Security risk assessments appropriate to the business and advised the clients on the gaps identified in existing payments operations towards complying to PSD2 standards. Analysed evolving PSD2 guidelines to interpret regulatory changes, ensuring business practices remained fully aligned with current requirements.
  • Coordinated with cross-functional teams to embed PSD2 controls within payments operations, fostering shared accountability and compliance.
  • Documented audit trails for PSD2 compliance initiatives, supporting transparency and facilitating smooth external regulatory reviews.
  • Championed regular stakeholder briefings on PSD2 updates, reinforcing timely adoption of new regulatory measures and minimising compliance gaps.

SWIFT CSP SPECIALIST CONSULTANT

Nomura, VTB Capital representing Grant Thornton
London
08.2017 - 12.2017
  • Performed SWIFT CSP gap assessment per the SWIFT CSP guidelines and advised the clients on the gaps identified in existing SWIFT payments operations towards complying to SWIFT CSP standards.
  • Information Security Management System is reviewed and recommended actions towards complying to ISO 27001 standards. Evaluated SWIFT payments workflows to identify security vulnerabilities, enabling targeted remediation and improved compliance posture.
  • Reviewed client documentation against SWIFT CSP criteria, ensuring alignment with industry standards and reducing operational risks.
  • Provided tailored guidance on closing compliance gaps, supporting clients in their journey towards achieving regulatory standards.
  • Delivered actionable recommendations that led to measurable progress in information security management and enhanced audit readiness.
  • Devised bespoke remediation strategies for identified SWIFT CSP gaps, supporting clients in achieving enhanced compliance and operational resilience.

SENIOR FINANCIAL CRIME CONSULTANT

Compliancy services
London
07.2017 - 08.2017
  • Conducted AML audits, enhancing compliance and operational efficiency.
  • Developed risk scoring using Wolfsburg principles, improving risk management.
  • Reviewed vendor due diligence, strengthening payment service controls.
  • Partnered with legal and IT teams to refine data privacy protocols, advancing compliance and minimising potential regulatory risks.
  • Scrutinised internal audit trails to uncover gaps in process adherence, enabling measurable improvements in regulatory reporting standards.

FINANCIAL CRIME RISK PROJECT MANAGER

HSBC
London
05.2017 - 07.2017
  • Led final phase of target model change for financial crime risk, enhancing global compliance.
  • Coordinated country-specific deployment, ensuring effective procedural integration.
  • Managed team engagement, fostering collaboration for successful project execution.
  • Analysed cross-border compliance processes, enabling the identification of process gaps and supporting continuous improvement in risk mitigation.
  • Coordinated with regional stakeholders to align local practices with global compliance standards, fostering stronger regulatory adherence.

PSD2 AND OPEN API BANKING SPECIALIST

Europe Arab bank
London
02.2017 - 02.2017
  • Crafted PSD2 product strategy, enhancing compliance and API integration.
  • Guided cross-functional teams through technical challenges, facilitating knowledge sharing that accelerated project milestones and built internal capability.
  • Streamlined onboarding of third-party providers, leading to smoother integrations and measurable enhancements in service delivery.
  • Monitored regulatory updates, ensuring continuous alignment of open API frameworks with evolving compliance requirements.
  • Assessed third-party risk to ensure secure API connections, supporting robust compliance and building trust with partners.

PAYMENTS RISK CONSULTANT

Lloyds Bank
London
10.2016 - 12.2016
  • Reviewed Payments Risk Policy, aligning with SEPA and PSR standards for compliance.
  • Evaluated new payment system risks, enabling timely identification of vulnerabilities and supporting effective mitigation strategies.
  • Collaborated with cross-functional teams to implement risk mitigation initiatives, leading to noticeable improvements in operational resilience.
  • Monitored regulatory updates, adapting internal policies to maintain alignment with evolving SEPA and PSR standards.
  • Provided guidance to colleagues on interpreting payment risk policies, fostering shared understanding and consistent application across the team.

PAYMENTS RISK ASSURANCE CONSULTANT

Royal Bank of Scotland
London
03.2016 - 06.2016
  • Performed Risk Oversight for the Payments division of Royal Bank of Scotland divestment project.
  • Risk assurance activities, risk control and self assessments, risk review the business and IT deliverables.Analysed risk frameworks for the Payments division, identifying key vulnerabilities and facilitating targeted mitigation strategies for marked gains in control.
  • Reviewed business and IT deliverables to ensure compliance with risk assurance standards, supporting measurable improvements in project outcomes.
  • Implemented comprehensive risk control self-assessments, driving strengthened governance and reducing operational uncertainties.
  • Introduced forward-thinking risk monitoring tools, enabling earlier detection of operational threats and supporting steady improvements in assurance activities.

PRODUCT PORTFOLIO MANAGER - PSD2

VocaLink
London
08.2015 - 02.2016
  • Led product proposition for PSD2 compliance, enhancing market reach and customer engagement.
  • Analysed regulatory requirements under PSD2, translating insights into actionable product strategies aligned with compliance standards.
  • Drove cross-functional workshops to anticipate industry shifts, shaping product direction and supporting future-ready solutions.
  • Streamlined product launch processes for PSD2 solutions, achieving timely delivery and securing market responsiveness.
  • Maintained comprehensive documentation for PSD2 product features, ensuring clarity and consistency across stakeholder communications.

MANAGER, TECHNOLOGY CONSULTING

Multiple clients through Deloitte consulting
London
05.2014 - 07.2015
  • Led liquidity projects for commercial division, enhancing financial efficiency and client satisfaction.
  • Maintained rigorous oversight of project deliverables, ensuring compliance with client specifications and mitigating risks throughout implementation.
  • Streamlined the integration of interest account structures and pooling mechanisms, contributing to improved cash management for multiple clients.
  • Provided clear guidance to client teams, supporting knowledge transfer and enabling sustained improvements beyond project completion.
  • Spearheaded digital transformation strategies for banking clients, enabling more agile operations and future-ready technology adoption.

PORTFOLIO AND DELIVERY MANAGER

Lloyds Bank
London
09.2011 - 04.2014


  • Directed portfolio initiatives, achieving measurable improvements in financial planning.
  • Analysed operational risk across payment and finance platforms, enabling robust mitigation strategies and reducing exposure to service disruptions.
  • Fostered cross-departmental collaboration to streamline portfolio initiatives, supporting cohesive delivery and shared accountability.
  • Supported team development by facilitating open communication and encouraging knowledge sharing, contributing to a positive working environment.
  • Evaluated emerging regulatory requirements, ensuring payment platforms remained compliant and minimising operational risk exposure.

Education

Bachelor of Engineering - Electronics and Communication

Bharathiyar University
India
06.1992 - 05.1996

Skills

Ø Deep working knowledge of CHAPS, FPS, BACS, Cards and LINK, CQUEST, SWIFT, PSD2 SCA-RTS, SEPA, Cross border payments

Ø FCA handbook and relevant Perimeter guidance on Payments services, PSR 2017, PSD2 EBA guidelines

Ø Consumer Duty and Conduct Risk regulations

Ø Open banking, Open API management, Payment architecture

Ø BCBS 239, ISO 27001, PCI DSS, Compliance monitoring

Ø Operational Risk management and Oversight

Ø RCSA and Risk Reporting

Ø KYC/CDD, AML, FCP, PEP & Sanctions screening

Timeline

SENIOR PAYMENTS ADVISOR – REGULATORY COMPLIANCE AND ASSURANCE

Handelsbanken
01.2021 - 07.2025

SENIOR REGULATORY COMPLIANCE ADVISOR

Consulting engagements representing Grant Thornton
03.2019 - 12.2020

SWIFT CSP SPECIALIST CONSULTANT

Nomura, VTB Capital representing Grant Thornton
08.2017 - 12.2017

SENIOR FINANCIAL CRIME CONSULTANT

Compliancy services
07.2017 - 08.2017

PSD2 REGULATORY COMPLIANCE SPECIALIST

Multiple financial institutions
06.2017 - 02.2019

FINANCIAL CRIME RISK PROJECT MANAGER

HSBC
05.2017 - 07.2017

PSD2 AND OPEN API BANKING SPECIALIST

Europe Arab bank
02.2017 - 02.2017

PAYMENTS RISK CONSULTANT

Lloyds Bank
10.2016 - 12.2016

PAYMENTS RISK ASSURANCE CONSULTANT

Royal Bank of Scotland
03.2016 - 06.2016

PRODUCT PORTFOLIO MANAGER - PSD2

VocaLink
08.2015 - 02.2016

MANAGER, TECHNOLOGY CONSULTING

Multiple clients through Deloitte consulting
05.2014 - 07.2015

PORTFOLIO AND DELIVERY MANAGER

Lloyds Bank
09.2011 - 04.2014

Bachelor of Engineering - Electronics and Communication

Bharathiyar University
06.1992 - 05.1996

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Babu Chellappa