Deepak Sonawane Email & Phone Number

Maharashtra, India

Inter-entity Portfolio Reconciliation Proactively identified and escalated risk management issues such as mark to market (MTM) differences exceeding 1MN, trades booked with incorrect legal entities (LE), collateral type discrepancies, and unmatched trades, ensuring timely resolution and risk mitigation. Collaborated effectively with the reference data team and technology partners to address feed issues and improve straight-through processing (STP), resulting in increased operational efficiency. Prioritized, evaluated, and implemented risk-mitigating controls to prevent trades from becoming reportable under regulations such as EMIR and CFTC. Prepared monthly Management Information System (MIS) reports, providing senior management with comprehensive updates on risk-related matters and outlining the steps taken to mitigate those risks. Raised 3 JIRAs led to a 10 to 12% reduction in daily inflows, saving 0.5 FTEs. (Identified and stopped unnecessary trades thus reduced noise in the reconciliation process). Received Senior Management appreciation for timely risk mitigation, as correctly identifying and amending trades with a substantial MTM swing between entities prevented any adverse impact on team PNL.

Mumbai, Maharashtra, India

Triparty collateral reconciliation Established Third Party Accounts, OPICS, SSI, and ISIN setups, facilitating seamless exchange of eligible collateral. Obtained accurate and confirmed collateral balances from custodians, ensuring transparency and reliability in collateral management. Proactively scheduled meetings with custodians and CSRs to address and resolve any collateral-related issues. Received appreciation from Audit and Senior Management for achieving a 100% Triparty Collateral Reconciliation Rate, demonstrating exceptional accuracy and efficiency in collateral reconciliation processes. Achieved a 100% reconciliation rate, earning recognition from Audit and Senior Management. Triparty collateral reconciliation rate significantly improved from 5% after taking ownership of the process. Streamlined recon operations by leveraging EMEA and NY shifts when custodians are more accessible, resulting in improved communication and efficiency. Implemented automated recon from Excel to swift, saving 2 FTEs.

Mumbai, Maharashtra, India

FX Middle office: Voice and broker trade validation on T0 basis across product - FX NDF, FX Outright, Swaps, Options. Handled economic and non-economic trade amendments. Reported marginal balances to the Tokyo team. Significantly implemented:o T0 validation process, involving economic trade amendments, cancellations, and rebooks, with the trader's supervisor approval prior to the Value Date/Settlement Date.o Automated matching system (ACS system), enabling automatic reconciliation of host and broker feeds and reduced the need for manual trade validation. Efficiently managed post-settlement trade amendments, cancellations, and rebooks, obtaining prior compliance approval. Effectively managed trade cancellations and rebooks with prior approval from traders' supervisors before the value date/settlement date.  Demonstrated proficiency in monitoring NDF trades clearing at LCH on Market serve, resolving exceptions such as TRI rename and insufficient collateral, and providing guidance to counterparties on resolving such issues. Monitored trades stuck in the middle office system, investigating reasons for non-flow to downstream systems, and resolving issues.  Collaborated with technology partners to automate the entire T0 validation process, transitioning from manual Excel-based procedures to the ACS system, resulting in a reduction of two full-time equivalents (FTEs). Developed standardized operating procedures (SOPs); compiled a comprehensive appendix of SOPs, including exceptions encountered during BAU processes.  Collaborated with IT teams on projects to implement controls and procedures, reducing reliance on manual efforts and mitigating operational risks.

Navi Mumbai, Maharashtra, India

Middle Office Trade Support Analyst for Fixed Income Products  Implemented enhancements to the Break Monitor system, effectively identifying and promptly reporting trades with discrepancies to trading assistants. Conducted thorough investigations into suspense or money breaks, promptly notifying trading assistants and providing detailed reports. Maintained proactive communication with settlements and trading assistants, promptly informing them about any amendments made to trades.I have also worked at State Street Syntel, Pune and Reliance Mutual Fund Customer care, Navi Mumbai between May 2008 to Dec 2010.