20+ ELV Projects Pvt Ltd Interview Questions and Answers

Due diligence is the process of investigating and verifying information before making a decision or entering into a contract.

• Due diligence is important in business to ensure that all relevant information is considered before making a decision.

• Types of due diligence include financial due diligence, legal due diligence, and operational due diligence.

• Financial due diligence involves analyzing financial statements and other financial data to assess the financial health of a compa...read more

SLA handling during system downtime

• Communicate with stakeholders about the outage and expected resolution time

• Prioritize critical processes and ensure they are restored first

• Document the incident and analyze root cause to prevent future occurrences

• Provide regular updates to stakeholders until the issue is resolved

Commercial banking involves providing financial services to businesses and corporations.

• Commercial banks offer services such as loans, credit lines, and deposit accounts to businesses.

• They also provide treasury management services, such as cash management and foreign exchange.

• Commercial banks may specialize in certain industries, such as healthcare or real estate.

• Examples of commercial banks include JPMorgan Chase, Bank of America, and Wells Fargo.

AML is Anti-Money Laundering and KYC is Know Your Customer. AML focuses on preventing money laundering while KYC focuses on identifying and verifying customers.

• AML is a set of laws, regulations, and procedures aimed at preventing criminals from disguising illegally obtained funds as legitimate income.

• KYC is a process of identifying and verifying the identity of customers to ensure they are not involved in illegal activities.

• AML focuses on the source of funds and transactions,...read more

US regulations for anti money laundering aim to prevent money laundering and terrorist financing.

• The Bank Secrecy Act (BSA) requires financial institutions to report certain transactions to the government.

• The USA PATRIOT Act requires financial institutions to establish anti-money laundering programs.

• The Financial Crimes Enforcement Network (FinCEN) is responsible for enforcing AML laws and regulations.

• The Office of Foreign Assets Control (OFAC) administers and enforces econom...read more

Genuine gaps within 2 years are acceptable concerns for the role of Business Process Leader.

• Gaps in employment history should be explained honestly and concisely.

• The candidate should highlight any skills or experiences gained during the gap period.

• If the gap was due to personal reasons, the candidate should assure the interviewer that it will not affect their performance in the role.

• Examples of genuine gaps include pursuing higher education, taking care of a family member, or...read more

Transaction monitoring in banking involves tracking and analyzing transactions to detect suspicious activities and ensure compliance with regulations.

• Monitoring transactions for unusual patterns or behaviors

• Identifying potential money laundering or fraud activities

• Reporting suspicious transactions to regulatory authorities

• Ensuring compliance with anti-money laundering (AML) and know your customer (KYC) regulations

• Utilizing software and algorithms to automate monitoring proces...read more

Financial and non-financial crimes can be identified through various methods.

• Financial crimes involve fraud, embezzlement, money laundering, and tax evasion.

• Non-financial crimes include theft, cybercrime, identity theft, and bribery.

• Financial crimes can be identified through audits, financial analysis, and suspicious activity reports.

• Non-financial crimes can be identified through surveillance, investigations, and tip-offs from employees or customers.

• Both types of crimes can b...read more

AML stands for Anti-Money Laundering. It involves several stages to prevent and detect money laundering activities.

• AML refers to the laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income.

• The stages of AML include customer due diligence, monitoring of transactions, reporting suspicious activities, and ongoing training and compliance.

• Examples of AML measures include verifying customer identities, conducting...read more

Specialisation of subject is used to improve efficiency and quality of work in the current process.

• Specialisation allows individuals to focus on specific tasks and become experts in their field

• This leads to increased efficiency and productivity

• It also improves the quality of work as experts are more likely to produce high-quality output

• For example, in a manufacturing process, having specialized workers for each step can lead to faster production and fewer errors

• In a customer ...read more

Rental income is calculated by multiplying the monthly rent by 12 for annual income.

• Determine the monthly rent amount

• Multiply the monthly rent by 12 for annual income

• Subtract any expenses or deductions from the total income to get net rental income

Economic sanctions are penalties imposed by one country on another, restricting trade and financial transactions.

• Economic sanctions are a tool used by governments to influence the behavior of other countries.

• They can include restrictions on trade, investment, and financial transactions.

• Sanctions can be targeted at specific individuals, companies, or sectors of the economy.

• Examples of economic sanctions include the US embargo on Cuba and the UN sanctions on North Korea.

• Sanctio...read more

PEP's are considered high risk due to their association with money laundering and terrorist financing.

• PEP stands for Politically Exposed Person

• They are individuals who hold prominent public positions or have close associations with such individuals

• PEP's are at a higher risk of being involved in financial crimes such as money laundering and terrorist financing

• Financial institutions are required to conduct enhanced due diligence on PEP's to mitigate the risk of financial crimes...read more

To check 2016 expenses, review financial records and receipts.

• Review bank statements and credit card statements for expenses

• Check receipts and invoices for expenses

• Compare expenses to budget or financial goals

• Consult with accounting or finance team for assistance

I have 10 years of experience in various technologies. Open to negotiation on CTC.

• 10 years of experience in various technologies

• Open to negotiation on CTC

A suspect drug is a medication that is under suspicion for causing harmful effects or not being effective.

• A suspect drug may have reports of adverse reactions from patients or healthcare providers.

• It may be subject to further investigation by regulatory authorities.

• Examples include Vioxx, which was withdrawn from the market due to safety concerns, and Thalidomide, which caused birth defects.

Paystub deductions are amounts taken out of an employee's paycheck for taxes, benefits, and other expenses.

• Payroll taxes (Social Security, Medicare, federal and state income taxes)

• Employee benefits (health insurance, retirement plans, life insurance)

• Voluntary deductions (charitable contributions, union dues)

• Garnishments (child support, tax liens)

• Employer-sponsored programs (employee stock purchase plans, tuition reimbursement)

• Pre-tax deductions (401k contributions, flexible s...read more

KYC has become mandatory to prevent financial crimes and ensure customer safety.

• KYC helps in verifying the identity of customers and detecting any suspicious activities.

• It is mandatory for banks, financial institutions, and other regulated entities to comply with KYC regulations.

• KYC also helps in preventing money laundering, terrorist financing, and other financial crimes.

• Examples of KYC documents include passport, driver's license, and utility bills.

• KYC is important for ensu...read more

Credit risk refers to the potential loss that a lender may face if a borrower fails to repay a loan or debt.

• It is the risk of default on a loan or debt by a borrower

• It is the risk that a lender may face if a borrower fails to repay a loan or debt

• It is the risk that a borrower may not be able to meet their financial obligations

• Credit risk can be managed through credit analysis and risk assessment

• Examples of credit risk include non-payment of loans, bankruptcy, and default on d...read more

Reconciliation is the process of comparing two sets of records to ensure they are accurate and in agreement.

• It involves identifying and resolving discrepancies between the two sets of records.

• Examples include bank statement reconciliation, inventory reconciliation, and account reconciliation.

• Reconciliation is important for ensuring financial accuracy and compliance with regulations.

• It can also help identify errors or fraud.

• Reconciliation can be done manually or through automa...read more

Structured Query Language (SQL) is a programming language used to manage and manipulate relational databases.

• SQL is used to create, modify, and delete databases, tables, and data.

• It is used to retrieve data from databases using queries.

• SQL is used to perform operations on data such as sorting, filtering, and grouping.

• It is used to create and modify database objects such as indexes, views, and stored procedures.

• SQL is used in various applications such as web development, data ...read more

BFSI stands for Banking, Financial Services, and Insurance.

• BFSI is a term used to refer to the financial services sector that includes banks, insurance companies, and other financial institutions.

• It is a crucial sector for the economy as it provides financial services to individuals and businesses.

• Examples of BFSI companies include JPMorgan Chase, Wells Fargo, Allstate, and Prudential Financial.

• The BFSI sector is heavily regulated to ensure stability and protect consumers.

• Tec...read more

MedDRA is a standardized medical terminology used for the classification of adverse event information associated with medical products.

• MedDRA stands for Medical Dictionary for Regulatory Activities

• The current version of MedDRA is version 24.1

• It is used by regulatory authorities and pharmaceutical companies for the coding and analysis of adverse event data

AE stands for Adverse Event, while AER stands for Adverse Event Reporting. AE refers to any undesirable experience associated with the use of a medical product, while AER is the process of reporting these events.

• AE is the actual event or reaction experienced by a patient, while AER is the formal process of documenting and reporting these events to regulatory authorities.

• AE can include symptoms, signs, or abnormal laboratory findings, while AER involves collecting, assessing, ...read more