RONAK SHAH
Oakville,ON
Summary
A certified Anti-Money Laundering Specialist with 15 years of Banking, Financial Services and Insurance (BFSI) business and industry experience. Assisting organisations in making sound financial decisions and adding value to the ecosystem. Broad-based experience working across multiple sectors, including the municipal and provincial government, consumer packaged goods and business services. Detail-oriented risk management specialist versed in financial analysis and reporting. Brings advanced understanding of market conditions and trends, risk mitigation strategies and financial decision-making. Expert in diverse statistical analysis techniques. Adept at uncovering fraud and suspicious transactions. Well-versed using strong attention to detail and systematic approach to review daily merchant portfolio batches. Good report writing and recordkeeping abilities.
Overview
18
18
years of professional experience
1
1
Certification
Work History
PAYMENTS AND REWARDS REPRESENTATIVE
Loblaw Companies Ltd
Oakville, ON
10.2022 - Current
- The biggest Canadian retailer encompassing corporate and franchise supermarkets operating under 22 regional and market-segment banners (including Loblaws), pharmacies, banking and apparel
- As a Payments and Rewards Sales Representative, I have the opportunity to demonstrate leadership and leverage my sales potential as a product expert and achieve my sales targets
- I take pride in understanding customer needs as we build a customer-centric environment
- Actively Engage with customers to educate and promote President's Choice Financial products
- Understand customer needs to make appropriate recommendations and offer exceptional advice and product knowledge
- Approach each situation confidently and enthusiastically to promote and sell PC Financial products and solutions
- Provide inputs to the manager on the risky profile of the customer applying for PC Financial products.
BUSINESS MANAGEMENT ANALYST
Drucker Prosperity Management Consulting Ltd
Vancouver, BC
04.2022 - 09.2022
- A consulting firm providing services in Business Financing, Business Management and Business Brokerage, Identified target markets, buying behaviours, and existing and future trends for two projects every week by designing and conducting social, economic, marketing, and demographic surveys
- Conduct business analysis and research to identify key metrics and opportunities for improvement
- Monitored current customers, identified prospects, and collected and compiled business data using intelligence tools and techniques
- Analyzed customers’ yearly financial statements and prepared monthly and annual forecasts and business plans for future business growth projections
- Write and document business requirements, functional requirements, and design specifications
- Create requirements and specifications for business solutions and develop processes and procedures to ensure business solutions meet strategic goals
- Ensure business processes are running in accordance with Agile methodologies
- Consult with key stakeholders to determine business objectives and success factors and collaborate with team members to collect, analyze, and evaluate information from multiple sources
- Present findings and recommendations to stakeholders
- Perform Operational Risks assessments overview with respect to business and market requirements for clients
- Accomplishments:
- Improved operational performance by analyzing and improving marketing strategies and improving business intelligence tools and methods
- Facilitated 11 customers in six months in securing approval of business loans ranging from $300K to $500K.
SENIOR PROJECT LEAD
RBL Bank Ltd
Mumbai, India
09.2018 - 11.2020
- Indian private sector bank headquartered in Mumbai and founded in 1943, offering services across six verticals: corporate and institutional banking, commercial banking, branch and business banking, retail assets, development banking and financial inclusion, treasury and financial market operations
- Promoted a compliance-focused environment by managing complicated projects with a budget of $150K for direct reports and an average of $5 million per project using global regulatory compliance tools and frameworks in collaboration with other departments
- Designed robust internal and risk controls, procedures, and policies in line with regulatory requirements by coordinating with product, operations, business, compliance, and technical teams
- Coordinate project status reporting and prepare status reports for senior management
- Led team in developing risk and compliance-related models and materials to create analyses and reports for key stakeholders
- Communicate effectively with project stakeholders and keep them informed of project progress
- Develop and implement action plans to ensure project success, monitor progress, and adjust plans to meet project deadlines
- Develop project budgets, timelines, and resource plans
- Identify, assess, and mitigate risks and develop robust remedial and strategical action plans to address the root cause
- Accomplishments:
- Reduced fraud and time, decreased account opening time from 48 hours to 30 minutes, and increased revenue by $84.6K in the first month by managing a digital account opening project (32% of accounts started opening online)
- Revamped AML & KYC updation process for retail clients (residents, non-residents, & owners) from manual to fully automatic and online
- Provided final deliveries within predefined timelines without compromising quality standards and regulatory requirements by planning and executing 17 projects, managing costs, monitoring ongoing progress, and removing roadblocks
- Reported high-risk cases monthly to key stakeholders and trained staff across 200 branches on risk mitigation.
SENIOR PROJECT LEAD
ICICI Bank Ltd
Mumbai, India
04.2016 - 09.2018
- Indian multinational bank and financial services company headquartered in Mumbai with a presence in 17 countries, including Canada
- It offers a wide range of banking products and financial services for corporate and retail customers through various delivery channels and specialized subsidiaries in investment banking, life, and non-life insurance, venture capital and asset management
- Coordinated fraud initiatives and projects ranging from $24.2K to $604.3K by preparing reports, metrics, and research while developing business requirements documents (BRD), functional requirements documents (FRD), and user mockups through interactions, meetings, and walk-throughs with IT Department
- Identified control gaps in processes, procedures, and systems and recommended improvement methods
- Assist in creating operational key risk indicators (KRIs), quantitative and qualitative risk threshold limits for critical projects, scenario/trend analysis, and KRI benchmarking
- Project Lead Corporate Risk function risk mitigation initiatives
- Implement, analyse, and monitor enterprise risk and operational risk requirements swiftly and thoroughly to comply with regulatory (e.g., RBI, FIU-IND, SEBI) risk management standards and internal risk appetite
- Coordinate monthly status reporting with other departments and prepare status reports for senior management
- Managed compliance audit by implementing compliance gap checks based on internal controls and recommending process improvement
- Communicate effectively with project stakeholders and keep them informed of project progress
- Accomplishments:
- Recognized as a go-to person for automating complex monitoring processes for AML and ATM, improving operational productivity, minimizing risks, eliminating redundancy, and ensuring transparency
- Finalized deliverables within strict time, quality, and budget constraints by regularly analyzing project scope and cost, implementing change management processes, and ensuring smooth execution of projects.
SENIOR RISK MANAGER
Kotak Mahindra Bank Ltd
Mumbai, India
06.2005 - 04.2016
- India's third largest private sector bank by market capitalization
- It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management
- Managed risk programs, set up internal compliance checks, and implemented compliance and risk protocols
- Optimized risk control and mitigation by developing and executing effective short and long-term risk plans
- Reviewed allegations to evaluate the validity and deliver a remedial action plan to minimize risk
- Devised new systems and specific processes to meet potential risk monitoring needs
- Maintain strong partnerships with business departments and provide professional assistance to enable stakeholders to proactively identify, analyze, and manage operational risk based on data analysis
- To assure risk controls and mitigation, create, implement, and enhance risk management frameworks and processes
- Assist in creating operational key risk indicators (KRIs), quantitative and qualitative risk threshold limits for critical projects, scenario/trend analysis, and KRI benchmarking
- Project Lead Corporate Risk function risk mitigation initiatives
- Train and advise business partners on operational risk management best practices, such as drafting rules and standards
- Implement and monitor operational risk requirements swiftly and thoroughly to comply with regulatory (e.g., RBI, FIU-IND, SEBI) risk management standards and internal risk appetite
- Governance and in-depth assessments for Business Continuity, Model Risk Management, Fraud Management, etc
- And Report operational risk indicators accurately
- Help manage the company's business continuity program
- Ability to interface with multiple organizational levels and communicate critical messages to high management
- Accomplishments:
- Implemented enterprise-level risk management practices with a focus on protective policies and procedures
- Mentored staff members in risk management, AML guidelines, export-import controls, and ethics regulations set by the banking regulator
- Reduced fraud and time, decreased account opening time from 48 hours to 30 minutes, and increased revenue by
Education
MBA - Finance
University Canada West
Vancouver, BC07.2022
BBA - Management Studies
Mumbai University
Mumbai, India06.2005
Skills
- AML & KYC Analysis
- Internal Audit & Quality Improvement
- Enterprise Risk Management (ERM)
- RACI Matrix
- Project Management
- Regulatory Reporting
- Operation Risk Management (ORM)
- Stakeholder Presentation
- Process Improvement
- Risk Management
- Fraud Risk Management and BCM
- Microsoft Office Suite, Tableau, JIRA, G Suite, Zoho, Mac and Windows Apps & OS
- Documentation and Reporting
- Team Collaboration
- Customer Service
- Verbal and Written Communication
- Critical Thinking
- Data Management
Languages
English
Native/ Bilingual
Gujarati
Native/ Bilingual
Hindi
Native/ Bilingual
Marathi
Native/ Bilingual
Certification
- Certified Anti Money Laundering Specialist, ACAMS - Nov 2022
- PMP - Project Management Professional - In Progress
Timeline
PAYMENTS AND REWARDS REPRESENTATIVE
Loblaw Companies Ltd
10.2022 - Current
BUSINESS MANAGEMENT ANALYST
Drucker Prosperity Management Consulting Ltd
04.2022 - 09.2022
SENIOR PROJECT LEAD
RBL Bank Ltd
09.2018 - 11.2020
SENIOR PROJECT LEAD
ICICI Bank Ltd
04.2016 - 09.2018
SENIOR RISK MANAGER
Kotak Mahindra Bank Ltd
06.2005 - 04.2016
MBA - Finance
University Canada West
BBA - Management Studies
Mumbai University
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