Examination Officer - Banking Supervision Division
Central Bank of UAE
Total years of experience :7 years, 10 Months
Central Bank of UAE Dec 2009 to Present
Examination Officer - Banking Supervision Division (BSD)
✓ Involved in Risk and CAMELS based examination of Banks, Exchange Companies, Investment Banks and other finance companies in the UAE to determine the soundness of their business operations as well as compliance with the relevant laws and regulations;
✓ Responsibilities include assessing credit policies, asset quality, liquidity and banking operations of Financial Institutions that are licensed by the Central Bank.
✓ Examining and assessing the adequacy and effectiveness of the Internal Audit function of the financial institutions examined as well as internal controls;
✓ Reviewing of the Risk Management Framework of the Financial Institutions and in particular the adequacy of credit risk policies and procedures;
✓ Involved in Basel II implementation reviews and AML special examinations;
✓ Planning of examinations and report writing;
✓ Performing forensic investigations where required;
✓ Performing ad hoc assignments reporting directly to the Governor;
✓ I am a member of many committees established to improve services and achieve the strategies of the Central Bank. This includes the Formulation of the Regulation Committee, Financial Stability Unit Committee, Basel II Committee, Chief Risk Officer's Forum;
✓ List of key financial institutions, regulated by CBUAE, examined:
Regulatee Entity Name of the Financial Institution
Banks Abu Dhabi Commercial Bank (ADCB)
First Gulf Bank (FGB)
Union National Bank (UNB)
National Bank of Bahrain (NBB)
Janata Bank
Finance and Investment Companies Mubadala GE Capital
Abu Dhabi National Islamic Finance
Invest AD Asset Management PJSC
Oman and Emirates Financial Institution
Islamic Finance Company Al Wifaq Finance Company (Wholly owned Islamic Finance Company of UNB)
IDBI FORTIS Life Insurance Company, India July 2009 to Dec 2009
Asst. Manager - Group Internal Audit
✓ Performing Risk assessments of division under review for branches and Corporate functions
Assisting the Head of Internal Audit in performing Scoping, Audit Planning and preparing the Audit Committee presentations
✓ Conducting Risk based audits for branches and conducting Management request audits for reviewing new projects/ changes.
✓ Preparation of Audit programmes for Accounts and Finance audits and Agency Channel audit
✓ Identified Fake logins done by Insurance agents and recovery of agency commission for these fake logins
Kotak Mahindra Bank Limited, India Dec 2007 - July 2009
Senior Manager - Group Internal Audit
GROUP COMPANY ASSIGNMENT: Name of the Group Companies Assignments
Kotak Mahindra Bank Limited Wholesale Banking, Complaince Audit, Treasury Audit
Kotak Mahindra Prime Limited Compliance Audit, Treasury Audit
❖ Due Diligence Operation for possible merger with a Foreign Bank in Bermuda National
✓ Indepth analysis of the statutory requirements
✓ Verification of the agreement documents
✓ Analysis of Financials for last 3 years
❖ Project Goregaon: Site office incharge for Kotak Goregaon tower including approving authority for site office vendor expenses.
❖ Fraud Investigation
ROLES AND RESPONSIBILITIES ALONG WITH ASSIGNMENTS HANDLED:
Wholesale Banking Operations
✓ Review of Credit risk Assessment and Credit Appraisals
✓ End to end review of Credit processes
✓ Review of Credit Administration Department and Credit Monitoring functions.
✓ Verifying compliance with KYC Norms and RBI guidelines.
Treasury Operations
✓ Nostro Reconciliation including review of the outstanding entries
✓ End to end review of the Forex transactions including merchant banking
Compliance Operations
✓ Review of the compliance procedure manual of the bank vis a vis RBI guidelines on compliance function of banks
✓ Submission of regulatory returns within due date
✓ Process of handling customer complaints
Other Assignments
✓ Clause 49 Testing for Corporate Banking
Countrywide Financial Corp. India Services Pvt. Ltd. Dec 2005 to Mar 2006
(CFC India Pvt Ltd.)
Captive unit of USA's rated Mortgage Banker & Financial Organization.
Associate - Corresponding Lending Division.
ROLES AND RESPONSIBILITIES:-
✓ Analyzing & Reconciliation of Escrow Accounts in Loan agreements.
✓ Making necessary changes in Master File Correction.
✓ Analyzing & Verifying Mortgage Loan documents.
✓ Recommending various changes in Original documents, which were prepared at the time of funding the Loan.
✓ Resolving various issues related after purchasing the Loan from Seller & providing correct detail to Borrower about Unpaid Principal Balance to date.
✓ Reconciling the Seller & Borrower's Loan History & recommendation of Account Receivable or Accounts Payable.
✓ Calculation of correct Unpaid Principal Balance in Ms-Access.
M/S Rajkumar Agarwal and Associates Aug 2002 to July 2005
(Chartered Accountants)
ROLES AND RESPONSIBILITIES:
✓ Statutory Audits (As required by the Indian Companies Act, 1956)
✓ Internal Audit
✓ Taxation
✓ Finalizations of accounts
✓ Company Law
PROJECTS UNDERTAKEN
Corporates with whom projects undertaken during the management tenure: ✓ Lotus India Private Limited
✓ CNBC TV 18
✓ Standard Chartered Bank
Projects underataken: ✓ Forex risk management.
✓ Rupee Indices and its comparison with other currencies.
✓ India's coverage to the Sub prime turmoil.
Training and development
✓ "General Management and Communication Skills" course conducted by ICAI, Western Regional Office, Mumbai.
✓ "Internal Audit Studies", Foundation course conducted by Bombay Chartered Accountants' Society.
M.B.A (Finance) from Rizvi Institute of Management Studies.
Passed L.L.B from Mumbai University with specialization in Banking and Taxation law.
Passed Chartered Accountants exam held by Institute May 2006 Of Chartered Accountants of India
Bachelor of Commerce March 2004 (Mumbai University) stood First Class with specialization in: ✓ Taxation ✓ Computer Application