FINANCIAL CONSULTANT
xxx
Total years of experience :29 years, 11 Months
Looking after the investment of a small group of clients and helping them in optimizing the returns from their portfolio.
Joined the Risk team to monitor and plug in various risks, pertaining to Trade operations Department
Established and implemented efficient and effective operational procedures to meet the business objectives set by the Company in lines the Central Bank of India (RBI).
Contributed to the profitability of the organization by taking stock of the situation and adopted strategy for hedging the exposures in the External Commercial Borrowings (ECB) which are basically secured loans for a tenor of 60 months and Foreign Currency Convertible Bonds (FCCB) which are converted into equities on a later date. Also trading FX majors to match the cash-flow was my main job. Was part of the Team that was responsible for raising funds for the Group as a WHOLE and negotiate the terms and conditions of the funding.
Specific Accountabilities
•Ensured transaction settlements are executed on a timely base and within the agreed deadlines.
•Ensured minimum Fail Trades (if any).
•Ensured daily Reconciliation of cash-flows with various banks.
•Corporate Actions are processed on a timely manner
•Aim for NIL operational errors and take corrective measures to mitigate risk.
•Identify areas to increase revenue streams.
•Create an environment to enhance accounting staff motivation and support.
•Compliance with Group policies on Procedures and local regulations.
•Keeping abreast of market developments and maintaining relationships with Market counterparts.
Key Achievement
•Achieved the Company’s aim to reduce the cost of Funds by 1-2 percent by entering into various options and structured derivatives
Was with them as FX- consultant as the company wanted only advisory services as the purpose for which I was recruited (to take care of the ECB and FCCB which were about to mature in 1 year- 2year time and hence no trading/covering action can be done) was over
Management of Monitoring & implementing Bank’s Corporate Treasury Policies. Also explain the same to the corporate and coming out with various treasury products.
Products include conventional treasury products, such as foreign exchange, loans and deposits, and debt securities, as well as complex derivatives including interest rate swaps and options, currency options, structured products and credit default swaps.
Specific Accountabilities
•Negotiated with numerous Corporate for determining their FOREX requirements and accordingly proposed them with appropriate FOREX solutions.
•Played a stellar role in coordinating with other departments for augmenting business revenue of the banks.
•Coordinated with the money market for Treasury (both Money and FX treasuries are at Bangalore, India) in emergencies we co-ordinate with the Money market for their Interbank transactions. Handled placement of corporate deposits at BPCL, VSNL, NTPC.
•Distinction of establishing the new corporate desk at Bangalore. This resulted in augmenting corporate volumes by 200% and achievement of substantial profits.
•Proposed customers to hedge their loan portfolio through IRS, FRA and various other option/derivative tools. Helped them with various innovative structured products both on the interest rates and on the currency sides so that their portfolio fetches them money and at the same time explaining the key risks they are taking.
•Secured substantial business from govt. undertakings such as HPCL, SCI, ONGC, Air India, BPCL, and VSNL.
•Bagged a mega deal with HAJ (successful bidding for 2 consecutive years) which includes pricing and arranging of FCY and distribution throughout India for 72000 pilgrims.
Key Achievement
•When I joined ING VYSYA there was no corporate desk at other centers. I have recruited people for other centers like Chennai, Bangalore and Delhi and trained them in corporate sales, which shows that I am self starter and has passion for the function and I can do it any time.
Dimensions
•In excess of 10 staff
•Number of customers 20 (Corporate) 250 (Small & Medium entrepreneurs)
•Profit Budget for the team in excess of $6, 000, 000 per annum
•FX Volume $.6, 000, 000, 000 per annum
Was part of a 22 member Team which was selected from the 500 staffs specially for centralizing the Trade Finance activity of all the branches in India which was a great success. Based on the same, other centers like all East Asian countries, Japan, Taiwan were all processed at this centre. Also some other activities such as NOSTRO reconciliation and cheque collection were centralized.
Was handling the Exports Section and TAT (turn around time), follow up activities such as sending reminders, processing of bills sent on collection, negotiation of document under bank/customer risk, purchasing of bills, LC issuance, Export LC advising and so many other activities were effectively handled which has resulted in better customer service and cost effectiveness to the bank. Also because of centralization expertise in products could be achieved which in turn will lead to guide to the customers for better documentation so as to enable timely negotiation as banks deal in documents and not in goods
Interbank Dealer:- Bond and Money Markets
•Dealing in Government Securities like Zero Coupon Bonds, Floating rate notes and Treasury Bills. Active Management of the Government Securities portfolio using off Balance sheet Products such as Interest rate swaps. Also exposure to Money market gap management, fund forecasting and local currency funding.
•Interbank Dealer - FX Desk
•Interbank Spot/Forward Trading, Gap Management, Fund Forecasting and all currency funding.
•Funds Management:
•Responsibilities include raising of local currency resources and parking of temporary surpluses. To ensure that at any point of time there is neither ideal resources nor paucity of funds.
•Forecasting and Economic data analysis:
•Keeping a tab on various economic figures. Analysing its implication and impact on the local and Global currency market and forecasting interest rate movements on the basis of these inputs
Worked in all departments of a Branch which were manual.