Bharat Banking:CARO Team

1Reports toBH- BE WholesaleIs a Team leaderYTeam SizeNAGradeVP/SVP-1BusinessBHARAT BANKINGDepartmentBharat EnterprisesSub-DepartmentLocationCO MumbaiAbout Bharat BankingBharat Banking is a new Department which has been set up to drive different business that the Bank does in Semi Urban and rural markets The department is expected to drive business outcomes by focusing on partnerships, new products, innovation, reimagining customer journeys and driving / creating new channelAboutThe present role is of CARO, which looks after the Compliance and Risk Assessment for the Bharat Banking department at CO, and also looks after the Risk Control Unit in Bharat Banking The role of the Bharat Banking CARO team encompasses the following:Regulatory Reporting to RBI by way of periodic returnsEnsuring timely replies to External / Internal Audit reports / RBI queries / RBI inspection reports / Walkthroughs / EGRC open issuesDisseminating regulations relevant to the department and to the business unitsCorrespondence with regulator / BO for complaints / queriesPreparing and presenting periodic compliance reports / MISs to the department headCoordination with external vendors conducting due diligence for the bank and review of the vendor agreementsFormulating standard processes / process improvements and getting them approved from the competent authorities1Anchoring the Supervisory Process for Assessment of Risk and Capital (SPARC) ie Risk Based Supervision (RBS) for Retail Lending Business2Meeting RBI officials during onsite inspection for various regulatory matters associated with Retail Lending Business3Analysing new RBI guidelines/changes in the extant guidelines applicable to Retail Lending department, place a synopsis of the same to business and follow-up for their effective implementation4Identify the controls associated with the new regulatory guidelines and follow-up for effective implementation of the same5Timely submission of responses to RAR / RMP / internal audit or testing reports & ensuring quality and comprehensiveness of the responses to eliminate requirements of resubmission6Seeking clarifications on important regulatory guidelines from Compliance Department/RB7Implementation of actionable specified in the Risk Assessment Report of RBI8Handling the entire gamut of activities related to internal and external audit process of the Bank The activities span, interaction with the auditors, resolution and responding to all aspects9Anchoring the EGRC framework of Retail Lending Department10Reporting of incident and operational errors and identifying potential areas of compliance vulnerability and risk11Undertaking Testing and monitoring of Key Compliance and Operational Risk indicators12Ensure adherence and timely implementation of regulatory guidelines raised by compliance units13Review SOPs to make them effective tools for ensuring compliance with new/revised regulatory guidelines14Appropriate updation of risk register (RCM)15Timely Closure of compliance Issues in GCM / Operational Risk issues / Internal audit issues16Driving initiatives & actionable under the framework of assessment of risk and compliance culture17ensuring timely & comprehensive RCAs are done to avoid recurrence of observationsQualificationsCA or MBA from a recognized instituteOther graduates with relevant experience of around 10 years would also be consideredRole ProficienciesRemain updated with regulatory guidelines and judge the effect of the same on the regulatory returns / compliance required by the departmentAbility to multitask and ensure completion of tasks in hand within timelinesAbility to build good working rapport with internal stakeholders and to be able to leverage the same for quick turnaround of projects in handAbility to take on new tasks and learn on the jobWillingness to work on tight deadlines