Ruchita Trivedi

International Private Banking Tax Operations

• Part of Global tax reporting for IPB clients, responsible for UK as well as Indonesia Jurisdiction tax reporting.
• Responsible for withholding tax on Belgium jurisdiction.
• Automated Generic Tax reports with the help technology team using SQL. This was an on-demand report generated manually in preferred currency and account requested and used across various other Client Reporting teams. On an average we received 20 requests per month which served around 45+ accounts. Each on demand request took around 90 minutes per user including maker checker. This automation saved us around 90 minutes per recon which led to save of approx 30 hours per month. The requests varied during the year especially during various Tax reporting season.
• Ensure that the team performs the BAU as well as annual control activities in timely manner which further will lead to smooth and accurate reporting
• Ensure the tax reportings for the respective jurisdictions are delivered to the clients well in advance for them to utilize the same for their filing due dates.
• Migrate new activities for the jurisdictions, ensuring proper trainings and backups are in place within the team
  Obtain all necessary risk approvals as well as documentations by the Process Go-Live.
• Aid conduct of audits (internal/external) and help closure of points to satisfaction without any adverse comments.
• Responsible for all performance management activities including supervision, goal setting, ongoing performance communication, employee engagement, development, review and mentoring.
• Liaising with internal tech and external vendors for all vendor applications maintenance as well as enhancements.

International Private Banking Reconciliations

• SME (Subject Matter Expert) in cash and stock reconciliation space in Private Banking.
• Investigation of discrepancies on Recons in timely manner by coordination with various Operations teams for resolutions
• Creation and maintenance of SOP documentation as part of training program for new joiners.
• Completion of Checklist, Key metrics compilation, key role and Audit Sampling for the operational risk governance.
• Migration of over 108 Recon from Vender based reconciliation tool to In- House Recon tool in partnership with Technology team and various Operation teams.
• Creation of Business documents, training and planning sessions with teams, regression testing. Process enhancements to improve STP, auto-matching and auto-assignment rules reducing Manual Touch point and errors.
• Traveled to Manila (short term) to managed migration of Process to newly established team.
• Onboarding/ Transitioning of new Recons on Reconciliation Tool in collaboration with Technology team and Stakeholders by identifying the right approach and ensuring all guidelines are covered.
• Continuous enhancements of Recon reducing 2000+ false breaks and improve Turnaround time with Technology team and various Operations teams.
• Maintenance of JIRA dashboard and handling scrum calls in partnership with Technology team.
• Weekly governance reporting to Senior Management on progress of various projects assigned and met target deadlines.

Custody Reconciliations

• Successfully managing team of 13 people performing.
• Handling reconciliation’s between Fund House & Custody.
• Reconciliation includes research and investigations into Cash Receipts, Trades, FX Deals, Incomes,Tax Reclaims, Corporate Actions and Derivatives etc.
• Verifying & Reviewing all the Subscription, Redemption & corporate actions, which are due to the client.
• Recon of the Cash and Stock is also done against the Investment Managers records on a daily basis to ensure that all the portfolio positions in the real market and accounting are tying with each other and if discrepancies arise then this need to be explained & rectified as per Standard procedures.
• Interact with client service representatives in UK & US operations to resolves queries and follow up.
• Documentations & Validating Foreign Exchange.
• Preparation of monthly and the weekly MIS.
• Brokers/Counter parties, corporate action event validation, escalation and resolution of outstanding.
• Managing daily operations for critical clients, client calls,
• Error reduction session, improvement suggestions with clients and leadership team. People management in terms of performance evaluation and yearly appraisal.
• Performing Audit checks of the operations work as per the set SLA and guidelines by BU's.
• Having a good track in SOP's, process mapping, System migration and building good environment for team.
• Performing Cash & Position reconciliation and validating, Corporate action events, validation & processing of income accruals and pay-downs, income repatriation to base currency.