Prathmesh Bandekar
Glasgow,United Kingdom
Summary
Regulatory reporting professional with more than 10 years of expertise in Trade Support, Money Market Settlements, Nostro Reconciliations, and Regulatory Reporting gained through roles at JP Morgan Chase and Morgan Stanley.
A proficient manager equipped with robust project management abilities and decisive decision-making skills. Possesses in-depth knowledge of trade life cycle, regulatory compliance, business requirement gathering, business process flow & analysis.
Overview
11
11
years of professional experience
Work history
Director
Morgan Stanley
Glasgow, Glasgow City
2022.10 - Current
- Managing the exception management function for Securities Financing Transactions Regulation (SFTR)
- Ensuring the operate team meets the reporting deadlines in a timely and accurate manner through a high level of adherence to agreed controls, processes and procedures
- Working closely with the change management team (CTB) to drive improvements and infrastructure changes. Actively involved in the validation rules / schema changes for ESMA & FCA.
- Proactively looking at emerging trends / changes in guidelines and assessing the impact on reporting requirements.
- Implemented process improvements, streamlining operations for increased productivity using automation tools such as Alteryx, Power BI
- Built key stakeholder relationships to foster collaboration and partnerships.
- Developing and coaching team through goal setting, regular one to ones, annual and semi-annual performance reviews
- Ensuring offshore and onshore teams are trained to a high standard and are kept up to date with regulatory changes
Director
Morgan Stanley
Mumbai, Maharashtra
2022.01 - 2024.09
- Ensured SFTR P&M process is ahead or at par with the industry.
- Ensured zero client confidentiality breaches through implementation of appropriate controls.
- Maintained BAU standards over supervision, RRM & firm wide policy compliance.
- Partnered with stakeholders & external counterparts to ensure common issues and pain areas are timely addressed.
- Making sure team is getting the right exposure and attention through, delegation of opportunities, timely feedback and regular one on one meetings.
- Oversaw operations and provided corrective feedback to achieve daily and long-term goals.
- Established departmental performance goals and provided feedback for underperforming areas.
- Collaborated with management and fellow supervisors to organize operations and achieve demanding schedule targets.
- Documented processes and drafted SOPs to comply with regulations and company policies.
Associate
Morgan Stanley
Mumbai, Maharashtra
2020.06 - 2022.01
- Part of SFTR RTB team, managing the DTCC TR pairing & matching process.
- Ensuring eligible reported trades are paired & matched correctly at DTCC TR.
- Collaborate with multiple internal teams to understand the P&M process carried out at other regimes and implement similar controls in SFTR.
- Identify major drivers for unpaired & unmatched trades & ensure they are escalated and resolved in a timely manner.
- Ensure Daily / Weekly KPI's are shared with the management team.
- Successfully managed a team of two, worked on their training & development.
- Kept detailed records of daily progress to identify and correct areas needing improvement.
- Developed training program to educate new hires on company policies and procedures.
Senior Operations Analyst
JP Morgan Chase & Co
Mumbai, India
2017.03 - 2020.05
- Responsible for supporting Trading desk for Trade Capture, Trade Cancel/ Amends, Trade Unwind etc in booking system for Treasury - Money Market.
- Handling Trade Checkout, Trade Validation & Queue checks etc
- Provide support in Security Setups & Reference Data maintenance
- Prepare Trade blotter for Senior Management on daily trading activity
- Perform T+l FO vs BO reconciliations of all economic attributes between Booking system vs P&L vs Risk vs Ledger system. Differences observed in the reconciliations are sent to Product Control/ Finance Control teams for posting adjustments
- Additionally Perform Nostro account reconciliation for Money Market product
- Understanding of strategy, products & inherent risks
- Contribute to enhance control environment
- Conduct SOX tests to ensure control process are audit ready
- Participated in high-level strategy meetings, contributing to financial and logistical framework planning.
- Generated reports of findings to help management with making key decisions.
- Designed plans to improve operations and suggested changes to systems for overall organization.
Operations Analyst
JP Morgan Chase & Co
2016.01 - 2017.03
- Carried out Money Market Settlements for APAC and EMEA
- Ensured cross functionality and quality training within the team and review processes with respect to internal policies, adherence to various regulations /rules laid down by the bank/Central banks /local authorities
- Successfully conducted error analysis sessions for the team and constant review of Standard Operating Procedures
- Training to new joiners and successfully conducted the BCP training for Delaware team for all APAC & EMEA Legal entities
- Ensured smooth functioning of process during critical staffing
- Successfully handled both APAC and EMEA settlements during resource crunch with no impact to the settlement process.
Team Member
JP Morgan Chase & Co
Mumbai
2014.03 - 2016.01
- Treasury Money Market Settlements APAC and EMEA
- Timely processing of Money Market Trades within respective currency cut-offs, accurate and prompt settlements and reporting of all Money Market transactions in the weekly KPI's
- Liaising with Traders / Clients / Middle office / support team to resolve any issues with respect to trade discrepancies
- Timely escalations of issues and followups - Ensuring all the trades are settled on the same day without any financial or reputational loss to the firm
- Worked on controls enhancement project (Swift Confirmation Matching) to reduce the level of risk to the process.
Education
MBA - Finance
Mumbai University
Mumbai India2014-02
Skills
- Regulatory Compliance
- Risk Management
- Problem-solving
- Data collection and analysis
- Analytical thinking
- Employee management
- Team building
- Daily operations
- Alteryx & Power BI
- Time management
Accomplishments
PROJECTS :
Swift Confirmation Matching Automation Project (01/2015 - 12/2015) :
- Money Market Confirmation Swift MT320 message were automated
to flow as System matched confirmations in OPICS. Whereby reducing the manual intervention and errors. System matched confirmation percentage increased from 40% to 95%.
Bank contact details (01/2016 - 12/2016) :
- Collating Nostro banks contact for APAC and EMEA Money Market Settlements to ensure quick communications during emergency trade settlements or recall of money.
FX FOBO ROBOTICS Project (06/2018 - 12/2018) :
- FX FOBO reconciliation is now successfully carried through robotics. Ensured seamless on-boarding from Manual process to automation right from the creation of FID till End to End Production parallel testing, Process overview to senior management and go live.
Explained Breaks Re certification (01/2019- Dec 2019) :
- Created a list of APAC Explained breaks with latest update and followups
- Ensured all the explained breaks are backed with proper evidence and substantiation
- Ensured all the issues are reviewed by managers regularly and followups are done on open items
Timeline
Director
Morgan Stanley
2022.10 - Current
Director
Morgan Stanley
2022.01 - 2024.09
Associate
Morgan Stanley
2020.06 - 2022.01
Senior Operations Analyst
JP Morgan Chase & Co
2017.03 - 2020.05
Operations Analyst
JP Morgan Chase & Co
2016.01 - 2017.03
Team Member
JP Morgan Chase & Co
2014.03 - 2016.01
MBA - Finance
Mumbai University