Regulatory Compliance

The official is responsible for managing and overseeing compliance risk management for Liabilities, Digital Banking, Product compliance advisory, Support & Control functions, AFI / RBS Compliance, Subsidiary Governance.

Key Responsibilities:

Regulatory adherence / monitoring implementation:

 Assessment of applicable regulatory guidelines and identifying the actions emanating from these guidelines.

 Ensuring that changes in applicable regulatory guidelines are promptly disseminated, along with actionable to the concerned business units / departments for implementation.

 Driving timely implementation of regulatory changes across various business Advisory / Consultative Role:  Driving an effective compliance management program through formulation of policies, review of relevant MIS and timely escalation of issues.  Advising business units on processes / controls from compliance standpoint to ensure adherence to the regulatory guidelines.

 Engaging with regulatory authorities to facilitate discussions and/or seek specific guidance on critical matters.

 Reviewing new products / change in product features, as a part of PMC/CMC, to be in alignment with the regulatory guidelines

Review of policies / internal guidelines from compliance perspective, before being disseminated to the units for implementation.  Assisting with regulatory enquiries / examinations

Monitoring / Assessment:

 Consistently monitoring the effectiveness of processes / controls through Key Compliance Indicators (KCIs), compliance testing.  Identifying non-compliance / breaches through various sources like RBI RAR, Internal Audit, Operational Risk Reports, etc., advising business in carrying out root cause analysis and on remedial action plan.

 Conducting annual compliance risk assessment and identify critical units / focus areas for mitigation of compliance risk.  Regular meetings with the business / operation / support function unit heads to discuss compliance matters / open issues.

 Assisting in development and administration of compliance training to business units.

Reporting to Board / ACB / Governance forums:

 Reporting and Updating the Board / Audit Committee of the Board on important regulations and non-compliances / breaches observed in various areas.

 Participating in governance forums to advise business from compliance standpoint. 

Qualifications:

ICWA / Engineer (ITSC) / Chartered Accountant, MBA / Postgraduate with banking background with job experience of 12-15 years