Manit Rana

• Managing middle office operations on behalf of NT clients
• To ensure that trades are being validated, affirmed and settled timely and escalate, if required
• To assist the team, in handling complex issues & exceptions
• Final point of escalation for settlement discrepancy, Account on-boarding/off-boarding issues and urgent/unresolved issues
• To co-ordinate with all stakeholders incl; internal teams, brokers & custodians
• To ensure that client SLAs are met and must reflect in client VOCs
• New Accounts & Transitions: Transitions Team acts as NT representative and liaises with the Clients.
• Client On-boarding & Off-boarding: Transitions team initiate account on-boarding with all stakeholders incl; Custodian and NT middle office teams and ensures that accounts are operationally ready within SLA.
• New Account Openings: Acts as a liaison to ensure account is set up in all relevant systems from Middle office and custody side. Team is liable to confirm operational readiness and ensures account is funded and ready for trading within agreed SLA.
• Account Terminations: Coordinating with all internal teams to ensure removal of accounts from all middle office applications
• Account Maintenance eg; Any change in the portfolio and uploading securities/cash in IBOR

Roles & Responsibilities:

• Sole manager from Pune location for IOO NA region and managing a team of 35 FTEs
• Leading client calls pertaining to account & on-boarding progress
• Quarterly Service Review meeting with clients
• Driving Monthly review meeting with Senior management and onshore stakeholders
• Driving Quarterly Business Review Meeting with Senior management and stakeholders
• Leading the team to path forward for positive Voice of Client scores
• On boarding & Off boarding of employees including access request and training plan
• Monitoring audit requirements, documentation and to ensure no breach of the company and client policies
• Maintaining process deliverables: Annual & Ad-hoc review: DPADs, Service Level Agreements with Clients and internal stakeholders
• Performing annual Business continuity exercises (TOW, Tabletop, Loss of Facilities/services) across Bengaluru & Pune Locations and uploading the results for review
• One on one with team members to discuss monthly progress, issues and feedback
• Mid and Annual appraisal of the team members
• Recurring team meeting to discuss exception issues- new learning, challenges and improvement suggestions

Achievements:

• Successful migration of Trades & Transitions process from Chicago to India
• Established a strong team with hiring and training of the resources
• Successful adoption and migration of Saphyre tool from an outdated request source method
• Enhancements to upgrade the Saphyre tool per business requirement
• Successful on-boarding of 4 major clients in last 2 years
• DP Macro implementation to avoid privacy breach

• Lending borrowing securities
• Booking loans as per trading instructions
• Monitoring and ensuring required collateral available before lending out the securities
• Monitoring & ensuring timely settlement
• Trade release and amendment in case of any discrepancy
• Mark to market and re-pricing of the securities
• Monitoring exposure and required collateral and liaising with counterparties to cover the risk
• Recall of the securities, in case of any sell
• Receipt and payment with counterparties via MT 103, 202 & 210
• Reconciliation of the internal books
• Monthly billing activity

Roles & Responsibilities:

• Conducting interviews to fulfill resource requirement
• On boarding & Off boarding of employees including access request and training plan
• One on one with team members to discuss monthly progress, issues and feedback
• Annual appraisal of the team members
• SOP Review and amendment
• IDD Tool testing and implementation
• Performed Refinitive v/s BBG testing to get the live prices and shared the observations
• Leading client calls pertaining to process issues and progress
• Leading transition process
• Weekly, monthly and ad hoc team meetings to discuss agenda.

• Dealing in Fixed Income/ Equity confirmation & settlements for APAC & EMEA regions
• Monitoring pre-matching trades on S-I & same VD trades
• Monitoring investigation and action for resolution on all outstanding/failed trades to minimize the non settlement
• Second point of escalation for settlement discrepancy, Claims issues and urgent/unresolved reference data requests
• Ensure timely action on Settlement and Position movement activities
• Ensure closely monitoring of high risk markets on S-1 itself with required investigation and follow ups
• Closely monitoring mailbox including custodian notifications, Recon concerns or Broker issues
• Figuring out the pain areas/stakeholder and escalate the issue to avoid the recurrence.

Reference Data:

• Setting up custodian SSIs on OMGEO Alert
• Ensuring notification receipt from all custodians or liaising in case of non receipt
• Liaising with stakeholders for set up requirements.

Claims:

• Investigation and action on overdraft claims and Negative interest charges
• Review of claim letters before issuing to broker
• Ensure SSI confirmation before making any wire payment
• Review of payment faxes to custodians
• Liaising with stakeholders to claim or negotiate claim charges
• Proactive monitoring of high value and sensitive markets to minimize financial risk

Roles & Responsibilities:

• Conducting interviews to fulfill resource requirement
• On boarding & Off boarding of employees including access request and training plan
• One on one with team members to discuss monthly progress, issues and feedback
• Responsible for annual appraisal of the team members
• Leading weekly client calls pertaining to process issues and progress
• Driving monthly management call with EMEA & APAC onshore stakeholders to discuss monthly stats
• Monthly broker calls to discuss issues/suggestions in order to improve fail rate
• Monitoring audit requirements, documentation and to ensure no breach of the company and client policies
• Maintaining process deliverables: KRI, FSM, Leave planner, MBR deck, Issue tracker, Enhancement tracker, Volume tracker for settlements, Reference data and Claims
• Successfully movement of process to new premise with co-ordination of IT, HR and WFM team
• Ensure mandatory trainings and facilitating cross training of the team.

Achievements:

• Migrated the process from onshore, set up the team and ramped up process successfully.
• Appreciated with “Above & Beyond” award in team leader’s category
• Successfully ramped up the EQ process by enabling training through zoom during WFH
• Automated a process to run the exposure report and overdraft balance summary with saving of 110 annual hours

• Handling end to end trades (From pre matching to Settlements).
• Ensure timely action on Settlement with required follow up with stakeholders.
• Pre-matching & matching trades on VD-1 & VD with counterparties. Identification, investigation and action for resolution on all outstanding trades to minimize the non settlement.
• Settle failing trades by liaising with brokers & custodians & taking care of Client escalation and ensuring timely response to the mails.
• Dealing with global markets with major trades from european market. Euro clear, Clear stream, Domestic: BE, FR, German, Spain, ENL etc.
• Following up with custodians and counterparties to capture failed trades and resolve the issues proactively.

Job Responsibilities: Custodian services

• Trade servicing: Releasing instructions from repair status.
• Movement of position from one account to another account to cover delivery/sell trade to ensure timely settlement.
• Responsible for Amendment and new instructions to the market.
• Resolved the failed trades by contacting various sub custodians.
• Adding daylight on ad-hoc request.
• Coordination with cash management (Nostro) team for better utilization of cash and to avoid settlement failure.
• Dual checks: As the market transactions involve high risk which may cause operational errors.
• Researching on trades which are not recognized by CP and checking is it a valid and following the escalation procedure to make sure that trade settled on the same day or cancelled.

Additional Responsibilities:

• Act as first point of escalation for Client Service Representatives, onshore management and offshore management.
• Leading Weekly progress call with client and attending weekly management call within TCS to ensure that process is running smoothly.
• Need to track Key risk indicators eg; cutoff, timely action on email etc.
• Leading daily huddles and monthly one-on-one meetings with team to identify employee engagement issues and action planning.
• Ensure zero customer complaints and high level of internal/external client satisfaction.
• Coaching and mentoring trainees, Associates, Senior Associates and nominating to rewards & recognition for high performers.
• Ensure awareness and knowledge on a continuous basis for process changes, regulatory/compliance changes as communicated by the client.
• Ensure that all the monthly MIS reports are maintained accurately.

Achievements:

• Several Awards and appreciations.
• Green belt certified- Project: Automation to check the status of all settled and non-settled trades and updates the remark in application
• Automated tool: Regarding securities movement from one market to another market which earns 1 FTE saving
• Successfully implemented 2 Best practice ideas for the process betterment.

• Verification of Borrower’s information: Name, Co-Borrower, Marital status etc
• Payment status of taxes, MI and Hazard
• Credit history of the borrower
• Delinquency of payments
• Verification of the income sources and liabilities
• Loan disbursement after verifying all the required details
• Go through borrower’s hardship request
• Letter to borrower: Approved or Declined

Additional Responsibilities:

• Accuracy: Quality session of the team to maintain accuracy
• MIS: Maintaining the team’s data and other required MIS files.

Achievements:

• Awarded with Gold Awards(2) and Silver Awards (2 times) in Rewards & Recognitions between Feb’10 - Aug’12
• Successfully executed 1 Lien elimination projects for process improvement based “Reduction of Non Value added steps”.
• Responsible for successfully implementing 2 Best practice ideas for the process betterment.