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Lead - Compliance/Senior Lead - Compliance

Lead - Compliance/Senior Lead - Compliance

Bajaj Finance

8 - 10 years

13 - 17 Lacs

pune

Posted:4 hours ago| Platform:

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Skills Required

data analysis negotiation internal audit compliance monitoring compliance compliance testing bfsi regulatory risk payments data it management reporting retail audit business processes compliance risk domain knowledge testing business communication

Work Mode

Work from Office

Job Type

Full Time

Job Description

Job Purpose

Compliance testing Perform Compliance testing of various products and processes. Determine scope & testing methodology in line with the Compliance testing plan, perform testing, discuss & obtain responses with action plan and present the results to Senior Management.

Duties and Responsibilities

Compliance testing and product reviewsCompliance Function plays a central role in identifying the level of Compliance risk in the organization
The compliance function comprises of Regulatory correspondence team, Advisory team and Compliance Monitoring & Testing (CMT) team
The incumbent will be part of the CMT team performing Compliance testing for various products and processes
The CMT team is responsible for testing and evaluating the effectiveness of internal controls, policies, procedures, and processes designed to meet regulatory requirements

Key Responsibilities:

Build an annual plan for Compliance testing reviews of various products and processes considering regulatory risks and feedback from Senior Management.

Develop testing procedures and train the team to carry out such procedures.

Determine scope and lead a team to perform compliance testing for various products and processes.

Conduct walkthrough, understand the regulatory requirements and BFL processes to meet those requirements, accordingly, develop testing procedures.

Discuss the results with Business Heads and provide recommendations as necessary

Obtain responses with action plan and timelines.

Prepare detailed reports on findings and recommendations.

Present the results to Senior Management.

Track actionables for appropriate closure.

Key Decisions / Dimensions

Specific area prioritization during field work in terms of what areas to focus on and what testing approach to be used.

Deciding the approach for data analysis; what sample size to take and how to analyse the data.

Major Challenges

BFL is a fast-paced growing organization with multiple business lines and product families. The business processes are changing at a very fast pace, so it is important to keep oneself updated and in fact, try to think ahead of the business.

The compliance requirements are complex and ever evolving hence the need for constant learning and keeping updated of industry developments.

Required Qualifications and ExperienceEducational Qualifications

CA with 8 to 10 years of experience.

Strong domain knowledge of RBI requirements related to retail assets, liabilities, payments, etc in BFSI sector is requiredWork Experience

Candidate is expected to have expertise in understanding of regulatory requirements specifically from RBI

Candidate is expected to have a strong background of working in Internal Audit or Compliance teams of BFSI

Good analytical, communicating s and reporting s.

Ability to learn and implement at a fast pace.Leadership

Demonstrate leadership, negotiation, communication and audit/ compliance management s in order to handle CMT team activities and engage with Senior Management.

Bring new knowledge on board and keep updated with rapidly changing business environment.

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Lead - Compliance/Senior Lead - Compliance