1. SHRUTI SOMAIYA
8 Whites Avenue,
London IG2 7PJ
Mobile No:0746 6316933
Email Id: somaiyashruti84@gmail.com
Professional Work Experience
ICICI Bank : Trade Operations / KYC Analyst - 19th
Oct 2015 to 20th
Oct 2016
Trade Operations:
Remittance - Obtainingconfirmationfrom the clientbeforemakinganynew payment. Based on
the Clientsinstructions,update the internal systems with the back up documentation and send
the instructions for payment to the processing team.
Invoice Discounting - Verificationof Clientsinvoicesalongwithall the necessarydocumentation,
reconciling it with our internal records and giving a go ahead to the processing team for the
disbursement.
Instructing the Treasury team to book a FX deal for all the foreign currency payments of the
clients and ensure minimal fx impact (fx gain/loss) to the client.
Responsible for Import collections to facilitate import/export operations.
Managing the Interbank transactions and responding to SWIFTs.
Responsible for overseeing all activities with regards to opening of new corporate account,
performingthe remittance forcorporate customers,liaising with the relationship managers for
necessary approvals and resolving client queries.
Interacting with clients on operational matters relating to trade operations and corporate
actions.
Ensure adequate controlsandregulatoryguidelinesare met toavoidany risk of Fraud or money
laundering related activities.
Responsible for timely and accurate SOX testing, documentation and responding to internal /
external audit queries.
Preparation and distribution of MIS reporting to the senior management.
KYC for Corporate Banking:
Reviewing and filling KYC documents for corporate and business banking.
Support Account opening process for corporate Banking.
Liaising with the relationship managers and the back office team to ensure the KYC
requirementsare metandall the necessarydocumentationare obtainedfrom the client before
opening a corporate account for a new client.
Workingunderimmense pressure to complete the KYC of the new clients in order to meet the
strict deadlines for the disbursements.
Weeklyreporting to the senior management listing the new clients added and highlighting all
the transactionsdone withthe existing/new clientsandsegregating the clients transaction into
low, medium and high risk bucket.
To undertake projects and assignment from time to time as directed by Management.
2. Serco GroupPlc (Outsourcingagent for Barclays, UK in India) - ClientOnboarding/ KYC Analyst- Aug
2007 to November2013
Client Onboarding
To support the on-boarding process for Barclays UK clients by ensuring compliance with KYC
guidelines and external regulatory requirements such as FSA.
ConductingPEPchecksfor clientstoensure anylinkage andaccordingly advising the concerned
department.
Conduct Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) on client
documentation and making recommendations for account opening or renewal.
To ensure all the existingcustomersof the bank are adhered to the changes in the KYC policies
and procedures from time to time.
Workingcloselywithonshore counterparts for detailed assessment of the high risk clients and
preparing/submitting the report to the management.
Analyze Clientdata,documentationandnegativenewsinordertodetermine Client Risk Profile
as established under the Bank's KYC procedures.
Account Opening (Barclays Offer Account)
Monitorand execute client instructions, perform checks on supporting documents for account
maintenance / account opening / account closures.
Manage BarclaysUK clientaccounts(BOA) fromreviewingthe submission of the documents till
the dispatch of the cheque book and connect card to the customer.
Screen client against all the relevant screening tools to ensure his credit worthiness, any
outstandingliabilities/loans,propertiesowned,anyoutstanding bills due, employment details,
etc.
Work closely with the Front office to obtain the necessary documentation (proof of identity,
signature, proof of address, income documents, etc) to complete adequate due diligence
reviews for new customers and ensure the client meets the regulatory requirement and the
internal bank's policies. All customers undergo detailed reviews and risk classification to
minimize financial crime risks.
Weekly MIS reporting to the management providing details on number of accounts opened,
closed, KYC checks, errors reported, exceptions / violations, if any.
Funds Transfer
Transferring contractual monthly payment and part payment from the customer account.
Conductregulartransactionmonitoringreview of alertedcustomeraccountsto keep a check on
Anti Money Laundry (AML) and identify potential suspicious transactions and recommend
appropriate controls.
Reporting any suspicious activities to the management in a timely manner.
Education
Bachelor of Commerce (Graduation) - Accounting & Finance from University of Mumbai, India
Personal Details
Marital Status: Married
Visa: Allowed to work fulltime in UK
3. From 21st Oct '16 to 16th Nov'16 - I was workingona projectfor CommerzBank to perform KYC checks
for their low risk clients.