Prachi Kadam

Experience

• 

  Ocwen Financial Corporation - US

  Jun 2013 - Aug 2017

  Perform independent testing to ensure compliance with the regulations, law, policies, etc.• Work with various Business Unit representatives/Process Owners to review and test internal systems and processes.• Prepare test plans, work programs, test scripts and reports• Discussion of exceptions, findings with the Business Unit• Communication of test results to the Senior Management• Maintain and update appropriate work papers.• Conducted a follow-up activity on all the findings and exceptions reported together with fresh validations• Conduct Directed Action (DA) testing on foreclosure referral and sales loans process; prepare the work paper and provide the supporting documents• Review monthly submission of escalated loans received from MHA-C and provide the required documents together with supporting within the deadline• Conducting State Examination review on ‘Early Intervention’ and ‘Loss mitigation’ for various regulators like RESPA, FDCPA and TILA• Supported the Management with all adhoc requests along with regular testing• Performing 2nd level review of all the exceptions & findings raised by the testing group for Bankruptcy. This involves checking of testing result & work papers and highlight any discrepancy in the testing results & the supporting work paper. Show less Key Responsibilities as an Associate: • Analyzing and Scrutinizing borrower’s financial documents• Validating and measuring quality check of financial documents.• Handling Level-I mailbox to provide response as per issues/concerns raised.• Modifying loans and deriving payment calculation in order to apply the same to the firm portals.• Processing the Risk Clearance procedure. •Underwriter: Reviewed and analysed the mortgage loan application to ensure eligibility, accuracy, completeness, and compliancewith internal and regulatory guidelines to minimize risk factors. (4 C’s of Underwriting) Reviewed all required loan data, reports, and inspections to insure the collateral is acceptable to investor and the company Analysis of financial statement of the prospective Borrower to identify solvency liquidity position. (Track record the ascertaining their credit worthiness). Provides final approval underwriting of mortgage loans. Review Credit Report – Credit score, credit accounts, loans, payment history, closed accounts, alerts, bankruptcy, etc. Income calculations of various incomes and DTI calculation to calculate qualifying income of Borrower. Approval with conditions, Rejections or Final Approval of loan post review of documents and calculations.•Internal QA: Prepared reports about the quality of work delivered by the firm, identifying the error root cause, creating strategicplanning to eradicate areas of error. Handled and monitor escalation process, any loans if eligible for escalation are being escalated at various levels. Provided status and terms of the loans to New Servicer for the loans that are getting De- Boarded also worked on boarding and de-boarding files Ensuring to process all request received within TAT, thus ensuring expected productivity & accuracy levels are met. Ensured achievement of goals on a consistent basis on a daily, weekly and monthly as a team and as an individual aswell. Show less

  • Compliance Auditor

    May 2016 - Aug 2017

  • UNDERWRITER – LOAN RESOLUTION PROCESSING & UNDERWRITING

    Jun 2013 - Apr 2016
• 

  Bureau Veritas

  Jan 2018 - Aug 2022

  Operations Executive

  Compliance process: Support to all audit requests within India and outside India received from network countries. Timely updating of Siebel and Network tracker and Invoice to be issued within 30 days from end date of audit. Audit scheduling in compliance of ISO 17021:2011 requirement. Conductedafollow-upactivityonallthefindingsandexceptionsreportedtogetherwithfreshvalidations. Day to day coordination with more than 140 countries. Zed scheme Manage and control the ZED Scheme. No audit request should be missed. Monthly meeting with ZED team member to check the issue. Maintaining the desired utilization rate of resource.  Invoice process: Check the rates given by the country and then provide green light to it (Invoices Auditor). If any additional extra charges will query with the origin station. Prepare Weekly and Monthly performance report for different countries. Show less

• 

  Bureau Veritas Group

  Apr 2022 - now

  • Develop and implement operational strategies to ensure efficient and cost-effective operations.• Develop and implement comprehensive risk and compliance management frameworks, including RCSA and KRI management.• Conducted extensive controls testing to ensure adherence to regulatory requirements• Performing internal and external audit as per quality standards.• Monitor and analyze operational performance metrics to identify areas for improvement.• Develop and maintain operational policies, procedures, and standards.• Managed internal loss data tracking and implemented mitigation strategies• Prepared and presented detailed risk reports to senior management, enhancing decision-making.• Manage and coordinate daily operations, including staffing, scheduling, and resource allocation.• Oversee the development and implementation of new systems and processes. (SIEBEL/TABLEUE)• Ensure compliance with all applicable laws and regulations.• Develop and manage budgets and financial plans.• Monitor and manage inventory levels.• Establish and maintain relationships with vendors and suppliers.• Lead and motivate staff to achieve organizational objectives.• Utilized clear and concise communication techniques, including data visualizations, to effectively convey complex information to the audit committee.• Analyze customer feedback and develop strategies to improve customer service.• Provided thorough risk assessments and actionable insights, leading to improved financial practices and strengthened controls.• Delivered transparent and detailed financial reports to the audit committee, highlighting key issues, risks, and mitigation strategies. Show less *Provide data from Tableau/ SIEBEL for Budget preparation, Qualification level & UR %*Implement and track operations and data integrity KPI’s and performance aligned with CER Operations BL guidelines (such as change of activity status requests from offices)*Resolution and relevant support for all Production Core Module (PCM) tools*Monitoring Operations Performance through Tableau Portal (Management Information System Portal)*Identifying opportunities for improvement and provide appropriate solutions on timely basis*Ensure helpdesk tickets are allocated the right priority and addressed by ISM timely according to business risks.*Ensure Sales Force, Flex implementation and SIEBEL/ CMX interface support to offices*SIEBEL & CMX updates, version change UAT feedback to SSC. Perform UAT of new releases and ensure proper deployment of the new functionalities to the end users*Assess staff performance and provide coaching and guidance to ensure maximum efficiency.*Ensure operations adhere to policies and regulations*Training all CREs/ Commercial executives on updates in PCM functionalities*Ensure the smooth and adequate flow of information within the company to facilitate other business operations.*Ensure ISM in the country timely address any technical issue related to the PCM tools Show less

  • Assistant Operations Manager

    Apr 2024 - now

  • Senior Operations Executive

    Apr 2022 - Apr 2024