Kotak Mahindra Bank
Team Member-Foreign Exchange Service Operations
June 2014 — Present
Team member in central processing centre handling operations related to forex products like FCY Cash, DD/Banker’s Cheques, TT and Stored Value Cards.
My Key Responsibilities include:
Verifying and authorising SWIFT messages like MT103, MT110, MT111 and MT199.
Scrutinising remittance application forms and documents vis-a-vis KYC and regulatory requirements; rejecting discrepant documents and liaising with Branches for rectification of discrepancies raised for the rejected application forms.
Verifying and authorising Prepaid stored value forex cards transactions processed by branches.
Attending and responding to the documentation and transaction status queries raised by branches.
Carrying out reconciliation for bank accounts against vendor accounts with respect to VISA stored value cards; raising queries to vendor for discrepancies and getting the differences rectified.
Accounting of VISA settlements, P&L items and Cross currency conversions using Nostro mirror accounts and Suspense pool account.
Accounting of TT refunds and FCY DD cancellation refunds by crediting the customer accounts.