Saranesh K

Experience

• 

  Tata Consultancy Services

  Jul 2014 - Mar 2017

  Senior Associate - Settlements & Reconciliation

  • To perform Issuing Settlement Reconciliation, which involves forex, validation and debit settlements funding before cut off times for different currencies.• Handling Issuing Settlement Reconciliation of Master, Visa and other entities (ATM &POS transactions).• Perform fund transfer to remit funds for the settlement payable to the Visa and MasterCard Association.• Review the entire General ledger, Accounts payable, sundries, chargeback and rejects processing on a daily basis and follow up on the aging items for resolution.• Monitor card type balancing in the system for any unmapped transaction codes. Customer payments are monitored and accounted in payment reconciliation.• Validate the association fees based on the report and the respective transactions.• Reconciliation of bank accounts based on customer payments posted to the card account and the payments received in to the bank account.• Reconciliation of Dispute, Chargeback entries and follow up on the aging items.• Identifying and investigating the Recon Exceptions and highlight to the respective team.• Month end proof submission (eRecon).• Rebate (Global Rebate) accruals calculation based on the contract for different corporate and perform the rebate payouts in citidirect. • SOB (Sign On Bonus) accruals calculation based on the contract for different corporate and perform the SOB payouts in citidirect.• Review the delinquency report and calculating the write on & write off.• Booking the reserve & recovery for fraud cases.• Base Reconciliation• QMR & QOC• Publishing of weekly & monthly MIS to the management. Show less

• 

  Unimoni

  Mar 2017 - Feb 2019

  Associate - Settlements & Reconciliation

  • To perform Issuing Settlement Reconciliation, which involves forex, validation and debit settlements funding before cut off times for different currencies.• Handling Issuing Settlement Reconciliation of Master (ATM &POS transactions).• Perform fund transfer to remit funds for the settlement payable to MasterCard Association.• Accounting and verification of automated entries in the books of accounts.• Verification of in house books entries posted on the previous day and rectification in case of any mismatches found• Load and reload reconciliation of the prepaid card products of UAE Exchange.• EPOS reconciliation, verification and rectification of unmatched entries.• CDM reconciliation, verification and rectification of unmatched entries.• Master card account’s reconciliation, verification and rectification of unmatched entries.• Daily revaluation of the GOCASH currency pool accounts.• Card related refund entry postings, acceptance and clearance of pending entries in the books of accounts in coordination with branches and other departments.• Funding to the Bank accounts including escrow accounts and the settlement account.• Verification of the funding requirement for the prepaid card products.• Other account reconciliations and verification of the pending entries in the books including the party accounts.• Coordination with the branches and other departments to clear the pending items.• Coordination with the Third Party Processors for clearing the pending issues, if any.• Verification of the Third Part accounts billing, release, and accounting of payments.• Verification of the Master card charges and in case of any difference found needs to coordinate with MC team for the clearance. Show less

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  Wirecard

  Feb 2019 - Jul 2020

  Reconciliation Officer - Acquiring

  • To perform Acquiring Reconciliation cut off times for different currencies. • Reconciliation of accounts as mentioned in daily reconciliation list between Wirecard system report and scheme reports ((Master, Visa, JCB, UPI (ATM, POS, MPOS, and Ecommerce transactions)). • Highlight any discrepancies immediately through agreed channels and follow-up with relevant teams until solution.• Ensure all discrepancies highlighted by the partner entitles are resolved within agreed SLA’s.• Identify possible technology solutions for problems and reconciliation and recommend system developments and enhancements relating to the process.• To ensure Reconciliation unit activities carried out with maximum efficiency, security and control in accordance with established procedures and agreed service with Wirecard.• Recommend any automation solutions to the current reconciliation process. Show less

• 

  Nium

  Aug 2020 - now

  - Client on-boarding(BAAS) - L1, L2 Client/ Customer Query handling - Raising end to end dispute in visa and Mastercard portal - Scheme settlement and reconciliation - Set up and establish end-to-end internal card operations processes.- Work with Engineering Team to provide card operations requirements and system functionalities. Test and identify errors and propose enhancements to the cards system.- Liaise with Engineering team to ensure data accuracy, settlement processing logic, double entry ledgers are established.- Draft internal and external report requirements to ease processes, reporting, billing and funds monitoring.- Provide analysis on profitability of product for the management team for decision making.- Advise Finance Team on the creation of accounts in relation to cards and provide reconciled data for entry booking, volume, profit and loss.- Front all workshop training for clients on cards business operations and settlement flows. Trained clients on internal card system platform usage.- Create all cards workflows, standard operating procedures, manuals, documentations and slides for card operations process and internal cards system.- Reconciled different card product transactions for different regions and ensure data from card association platform, internal cards system and vendors’ system are accurate. Escalated any discrepancies and proposed improvements.- Reconciled vendors’ invoices and ensure all ledgers are accurate.- Set up bank accounts and establish settlement with the various card associations in various countries.- Billed and monitor client’s monthly and card order invoices and ensure timely payments.- Liaise with bank, engineering team and reconciliation team to drive automation of inward credit confirmation process, automation of reconciliation and timely approval of clients' refund requests.- Prepare quarterly reporting for card association and weekly MIS report to management. Show less

  • Cards & Transaction Operations Manager

    Jan 2023 - now

  • Senior Associate- card Operations, Clients onboarding & Reconciliation & Disputes

    Aug 2020 - Feb 2023