Senior Compliance Manager-Retail Liabilities & Wealth

Job Requirements

Role/ Job Title

: Senior Compliance Manager - Retail Liabilities & Wealth

Function/ Department

: Compliance

Job Purpose

Compliance Function is responsible for managing overall compliance risk in the Bank. The function is an independent function and ensures that the Bank is compliant with the regulatory requirements.The Bank is hiring a senior Compliance professional with proven track record in compliance function of a Bank or NBFC to manage Compliance activities and risk, in particular to perform the following activities.

Role & Responsibilities

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• To provide Compliance oversight and advisory support to the businesses, to ensure regulatory compliance and to manage overall Compliance risk in the business.
• To work closely with businesses and other support/control function in implementing compliance requirements.
• To ensure that all required Policies, Procedures, Manuals, etc. are in place to conduct business in compliance with the regulatory framework in Liabilities and Wealth Business of the Bank.
• To review required Policies, Product notes / Manuals, SOPs & other Internal process documents for Liabilities and Wealth Business of the Bank in line with RBI guidelines and instructions issued with a focus on the closure of RBI inspection observation.
• To assist the business teams by reviewing and providing comments prior to launching various products, product variants, campaigns.
• Disseminate relevant RBI circulars for Liabilities and Wealth Business to the respective business teams also highlighting the points/actionable that are required to be completed by them for ensuring the implementation of the circulars in the Bank&aposs process smoothly.
• Dissemination and closure of the RBI circulars through the system highlighting the points/actionable that are required to be completed by them for ensuring the implementation of the circular in the Bank&aposs process and getting quarterly self-certifications done in the system.
• Respond to various queries (regulatory guidelines issued by RBI, PFRDA, IRDA) in a timely
• Ensuring timely submission of all the relevant certifications, filing reports, responding to regulatory queries and communications/letters pertaining to RBI regulations/other regulators.
• Sharing of the relevant PFRDA, IRDAI circulars to the respective business teams also highlighting the points/actionable that are required to be completed by them for ensuring the implementation of the circulars in the Bank&aposs process smoothly.
• Train personnel to ensure that they understand their responsibilities in complying with the regulations. Prepare/ update of FAQ&aposs based on applicable regulatory guidelines for the allotted areas.
• Preparation / Updating of FAQ&aposs based on applicable regulatory guidelines for the allotted work areas.
• To identify compliance issues, escalate those appropriately and take a lead to close those issues promptly.
• Circulate advisory for sensitizing various stakeholders on the key updates and various regulatory issues.
• Ensuring timely submission of all the relevant certifications, reports and communications/letters across regulators.
• Advisory role for queries relating to appointment and operations of Business Correspondent raised by RBI and Business from time to time.
• Co-ordinate with various stakeholders of the Bank during inspection by various regulators including collation of indents and timely submissions. Also, collating responses from various stakeholders for the observation raised by the regulator during the inspection.
• Preparing control points for the various line items pertaining to Liabilities and Wealth Business in the RBS Tranche III data. Co-ordination with the relevant persons for procurement of data and confirmations for putting the controls mentioned above.
• Conduct Compliance Monitoring exercise to ensure that all policies, procedures and internal guidelines pertaining to Retail Liabilities and Wealth Management are in spirit with the RBI guidelines.
• Preparation /updating of regulatory checklist and FAQ&aposs based on applicable RBI guidelines and other regulators for the allotted work areas.
• Preparation and submission of various notes to the Board on a periodic basis and from time to time.
• To perform other Compliance activities as may be assigned by the management.
  

Education Qualification

Graduation: Any GraduationPost graduation: Any post-graduationExperience: 5 - 10 years of experience