Operations Executive

Job description

**Role Objective** To manage end-to-end Fixed Deposit repayment operations with a focus on bank reconciliation, penny testing, revalidation, unclaimed/unpaid follow-ups, regulatory communication, and ensuring timely, accurate payouts with strong compliance and customer coordination. **Key Responsibilities** **1. Bank Statement Reconciliation** - Perform **daily reconciliation** of FD-related bank accounts including HFI, HBA, and HBB. - Upload bank statements to **E-Sarathi portal** and track rejection cases. - Coordinate with Customer Service team for **SMS and Email communication** in rejection/uncleared cases. - Process **cheque payouts** where customer responses are not received within defined TAT. - Monitor **interest DD issuance** and follow up on uncleared DD cases. **2. Penny Testing Operations** - Conduct penny testing for **future maturity cases** at least **2 months prior to maturity**. - Handle failed penny test cases through **calls, SMS, and emails** for bank detail updates. - Tag accounts to **warrant mode** where bank updates are not received. - Review documents for cases where penny test success rate is **below 70%**. - Execute penny testing for: - KYC cases - Refund cases - Preclosure cases - Unclaimed and unpaid cases - Provide **daily reverse feedback** to the Verification team **3. FD Revalidation** - Process **soft-mode revalidation** for repayment rejections by: - Updating bank details in the core system - Obtaining required approvals in ESarathi - Ensure validation of bank details before **manual payouts**. - Handle **cheque-mode revalidation** for cases without bank details within TAT. - Prepare customer communication letters and maintain cheque payment records. **4. Unclaimed & Unpaid Followup** - Prepare and reconcile **unclaimed FD data** periodically. - Share data with Customer Service team for **fortnightly SMS and email communication**. - Track communication logs and send **manual letters** where electronic communication fails. - Identify revalidation opportunities via folio checks or penny testing. - Process payments through **revalidation mode**. - Send **physical registered letters quarterly** for unclaimed cases. - Manage reconciliation and clearance of **unpaid Cheque, Warrant, and DD cases**. - Issue advance communication for **IEPF cases** at least **2 months prior** to transfer and maintain POD records. **5. Other Daily / Weekly / Monthly Activities** - Resolve QRC cases in **ESarathi, CRM, and Mailbox** related to: - UTR details - Revalidation requests - Interest payouts - Prepare and submit **cashflow reports** to Treasury for upcoming payouts. - Handle customer communication for: - Bank name / IFSC changes - Bank migration activities (e.g., Citi to Axis) - Coordinate fund transfers between **interest accounts and operational bank accounts**. Process **KYC refund entries** and related accounting for payouts. **Role & responsibilities**