Team Member - Banking Operations

Job Overview

This position involves executing banking transaction operations including account maintenance, balance tracking, and monitoring collections, redemptions, and dividends to guarantee timely and regulatory-compliant payments to customers and vendors. The role also includes preparing detailed MIS reports and assisting audit processes efficiently.

Context and Challenges

The role requires maintaining high accuracy despite handling large volumes of transactions, which is critical for regulatory compliance, reputation, and profitability. Ensuring timely customer payouts fosters competitive advantage and improves service quality. Strong account monitoring and reconciliation are essential to optimize fund deployment and support profitability of the fund house.

The complexity arises from managing a vast number of accounts with varying limits and multiple fund movements. Additionally, interacting daily with numerous stakeholders across various banks and coordinating with PSU banks that have lengthy account opening procedures are integral challenges.

Key Responsibilities

• Maintain a robust banking setup by reviewing existing arrangements, benchmarking with competitors, and collaborating with business stakeholders to fulfill operational needs.
• Develop scalable and dependable banking processes, including exploring automation options for fund sighting and transitioning investors from physical payouts to electronic methods while managing volume spikes without delays.
• Manage vendor relationships by tracking service level agreements and routinely evaluating vendor performance.
• Coordinate resolution of branch queries by liaising with banks and Record to Report Agencies (RTA).
• Ensure accurate subscription reconciliation by collaborating with branches, banks, and CAMS to clear outstanding entries.
• Monitor and maintain adequate credit lines through next-day liability tracking and engagement with banks and RTAs to optimize credit usage.

Additional Information

The role demands high interaction with PSU banks and requires stringent timeline adherence for acquiring records and processing transactions. This involves comprehensive reconciliations across over a thousand accounts to prevent limit breaches and avoid overdrafts.