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