Raj Bhagchandani

Experience

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  Standard Chartered Bank

  Aug 2010 - Sept 2015

  Operational Risk Implementation of the new Operational Risk Framework (ORF) for the Corporate and Institutional Clients (CIC) segment in 37 countries. Hosting of global calls to CIC heads, Senior Operational Risk Officers and Financial Crime Compliance Officers for adherence to the new ORF implementation. Education of audience on the latest Group Process on Customer Due Diligence (CDD) which entails quality assurance in the CDD. Providing guidance to Operational Risk Officers on the new process of the rollout; providing step by step process on onboarding the new CDD checks. Anti-Money Laundering (AML) and Know Your Client (KYC) policies are predominantly the essence for CDD checks. Hold frequent discussions on the CDD future model with country heads. Ensuring adequate system access for all stakeholders involved in the rollout. GovernanceAssist in managing the Process Governance Committee; organising, document management, follow up with action owners. Delivering on the CDD Governance Strategy, follow up and drafting of various reports on regulatory responses and audit management and embedding new CDD policy and processes. Compliance Learning and adapting to the Banking Secrecy Act and AML guidelines. Interactions with Financial Crime Compliance team to understand and enhance CDD documentations and policies. Acquainted with local MAS regulations. Regulatory ReportingDetermining optimal solutions on monitor’s findings and implementing key changes internally. Hold discussion of findings, put into plan and ensured completion either systematically or changes through education and training. Conduct bi-monthly calls with liaison party in US and respective group heads. Deliver business support between the Corporate CDD business stakeholder and the liaison team. Closely follow up with system administrators for new project improvements. Provide updates on the project implementation. Show less Operational Risk - Ensure a well operationally controlled environment; following the standardized operational risk framework - Perform risk assessments on trades and verifying documentary proof; B/G/L KCSA checks- Tracking and logging of Ops Risk Issues and Losses into Phoenix system- Identify and evaluate Key Risk Indicators in business and escalate where necessary- Participate in the Business Ops Risk Committee (BORC) meetingsAudit- Preparation for audit – advising desks on “Dos & Don’ts”, sieving out required documents, etc- Close engagement with auditors before engagement with dealers- Regular follow up on audit findings till closureCompliance, Control & Governance- Liaise with CB Compliance on Incident reporting, and new MAS regulations - Regulatory licensing (RNF) for all Front Office dealers; PvB CACS, FMRP, Dodd-Frank, FATCA- Ensuring completion of Continuous Professional Development (CPD) hours - Clean up on all Desk Operating Instructions; SME, CTP, Equity Execution, etcBusiness Continuity Management- Department Crisis Coordinator for Treasury team of over 40 staff.- Regular update of the Business Continuity Plan- Actively participate in the bi-annual BCP exercise. Key Achievements Project Anchor [Singapore SCB Subsidiarisation] – System changes, new booking portfolios, daily reports Graded “Acceptable” for FX ALM Audit 2013 & “Improvement Required:” for SME Audit 2013  Centralization of the Collateralized Trading Program in Singapore Show less Finance- Global STAR Administrator – Score Card for PvB revenue reporting for RMs- Reconciliation the trades with group and country finance- Daily PvB RM Revenue provided to team leads in SC Private Bank - Collating and producing the CBMS Global Revenue report on a periodic basis Product Governance - Issuing product approval codes for Non-flow Structured products; FCN, Worst-of Basket, etc - Managing approved list of counterparties through internal sharepoint- Secretary for Process Governance Committee; coordinating meeting invites, minute writingDealing Room Administrative Support - Orientation and briefing for on boarding staff, new joiners checklist, CMFAS requirements- Dealing desk re-arrangements to ensure align to business new initiatives- Extension tagging for all dealing lines, testing of recorded lines - Familiar with trading & booking systems such as Bloomberg, Reuters, S2BX, FEDS, MarginTrac, FinIQ, T24, OPICSKey Achievements Developed PvB Daily revenue monitoring template Created global Premium Currency Investment volume report  CBMS global staff tracker; reconciliations with HR on staff movement & bonus plans Show less

  • Associate, CDD Governance & Controls, Corporate and Instituitional Clients

    Sept 2014 - Sept 2015

  • Unit Operational Risk Manager

    May 2012 - Aug 2014

  • Business Analyst

    Aug 2010 - May 2012
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  Hong Leong Finance

  Oct 2015 - Sept 2018

  Assistant Vice President

  Advisory Drafting memorandums to management and other key stakeholders to advise and inform on latest regulations and updates to the notices issued by MAS. Re-drafting internal policies to keep up to market and regulatory standards. Providing guidance to business stakeholders on regulatory requirements. Participate actively in discussions and provide valuable input from a regulatory perspective.Training Conduct AML training for new and existing staff. Coordinate and host briefing sessions on the MAS regulatory changes. Draft presentation slides for briefing staff on new guidelines on Trade Finance requirements.Monitoring Evaluate transaction patterns and behaviors. Perform sporadic analysis on client's deposit and loan structures. Show less

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  Kotak Mahindra (UK) Ltd.

  Oct 2018 - Apr 2021

  Senior Compliance Officer

  Regulatory advisory on appropriate standards for compliance with applicable AML/CFT rules and regulations.Cognizant with CMS licensee conditions and SFA and FAA regulations.Onboarding of HNI clients, KYC/CDD, investment suitability checks and performing AML risk assessment.Periodic review of client; identify any risks through screening and transaction monitoring.Ensure all representatives are adequately meet their CPD training requirements.Providing approvals on all financial promotion materials.Compliance monitoring.Mitigate any Audit findings and remediation of any pertinent issues with internal processes.Appraise Senior Management with objective information on Compliance risks and activities conducted at the branch.Liaise with MAS on new branch licensing requirements. Show less

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  Standard Chartered Bank

  Apr 2021 - now

  Identify, quantify, and mitigate risks within the Transaction Monitoring surveillance process. Ambassador promoting risk, control and governance withing the process. Providing support in escalation of material monitoring risks and impact assessment across the Group. Championing thematic reviews relating to delays in case dispositions, and initiatives that would lead to effectiveness across monitoring. Ensuring adherance to Group Transaction Monitoring Standards. Performing periodic risk routines, data quality assessments and managing the tuning and optimization of detection engine. Show less

  • Director Transaction Monitoring Risk Management

    Jan 2022 - now

  • Director, FCC Controls Surveillance Excellence

    Apr 2021 - Mar 2022