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Job Description
Legal, Compliance & Secretariat ensures that the bank’s interests are protected by zealously guarding and enhancing its reputation and capital. We also work to maintain a good standing with all our regulators, customers, and business partners. Because we believe that at the heart of business banking is to uphold the values of trust and integrity for all our stakeholders.
Business Function
LCS (Legal Compliance and Secretarial) works closely with the business partners to manage the Bank’s legal and compliance risk by balancing its objective to maximise returns against an acceptable risk profile. To manage risk effectively and run a successful business we invest in our people and infrastructure.
The compliance vertical within LCS, partners with stakeholders in developing controls and adequate governance framework and also develops a compliance assurance programme as part of independent second line function.
Job Purpose
To conduct assessment of the compliance risk and to develop a risk-oriented activity plan for compliance assessment. To monitor and periodically test compliance by performing sufficient and representative compliance testing.
Key Accountabilities
. Driving Compliance Culture and standards
. Conducting compliance risk assessment and compliance assurance/testing in accordance with the Compliance testing plan
. Undertake regulatory testing such as RBS Tranche III etc.
. Respond to all queries on Compliance Assurance Testing during RBI inspections
Job Duties & Responsibilities
. Conduct forward-looking regulatory risk assessment across the company periodically.
. Conduct testing and monitoring of key controls, along with thematic reviews in accordance with the Compliance Assurance Programme
. Give inputs in evaluating the scope and testing approach of key controls to ensure they are fit for purpose and in accordance with established department standards
. Work closely with Business / Support units to ensure overall compliance to all applicable regulatory and licensing requirements as well as to improve overall control environment and promote sustainable growth.
. Develop recommendations for corrective actions based on review findings
. Monitor/Write reports which include presentation of results, the rationale for findings, risks posed, and action required to address the risks.
. Apply analytical reasoning skills to risk-rate outcomes and determine the level of impact of issues identified.
. Track agreed actions through to conclusion and report on progress upon completion of reviews
. Examine policies, procedures, and practices to ensure compliance with laws and regulations and implement any needed changes.
. Maintain a broad knowledge of the business and regulatory framework in Banking/Financial services
. Assist in responding to all queries on Compliance Assurance Testing during RBI inspections. Support RBI inspection wherever required.
. Explain the circulars / guidelines to the Business / Support Units wherever required to increase their understanding about the regulatory guidelines. Drive the compliance culture and agenda within the Bank
. Support the compliance head and the team members in executing specific projects / work assignments
Required Experience
. Compliance / Risk / Audit Role in Bank for 6-8 years (incl. exposure to compliance reviews / testing)
. Sound financial and technical knowledge of banking and financial services laws
. Knowledge of overall banking environment and regulatory circulars/guidelines.
Core Competencies
. Able to identify and forecast compliance risks in line with the proposed business growth & find solutions
. Analytical and comprehension skills to understand & interpret regulatory requirements
. Attention to detail and research-oriented approach
. Sound approach to problem solving
. Good communication and negotiation skills at all levels, especially drafting & writing skills
Education / Preferred Qualifications
. Professional (CA / MBA-Finance from reputed institute), with experience in Bank Compliance / Risk / Audit Department for 6-8 yearsIndia-Maharashtra-Mumbai
