Senior Manager - Compliance & Risk

About Department:

HDFC International Life and Re Company Limited

Duties & Responsibilities:

The role will be to lead the Compliance and AML function to achieve the outcomes set out in the IFSC Branch's Compliance Policy and Conduct Principles: Fair and compliant outcomes for Customers; Financial Crime Prevention; Promote Compliance culture.

• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters
• Clear Understanding of Local Laws & Sanctions, Regulations and other leading Sanctions Regimes
• Managing FI Relationships w.r.t. Compliance and especially Financial Crime Compliane (FCC) Segment and handling of Red Fag Indicators (RFIs)
• Consistent application of the KYC/AML/CFT policy, Standards and allied procedures
• Review KYC/AML/CFT Policy & Standards to ensure these are consistent with regulatory requirements and updating the same upon change in the regulatory regime
• Ensure effective implementation of the FCC strategy to ensure vertical alignment and horizontal integration with other inter-functional operations
• Review policies, procedures, and products, recommend required changes if any to align them with the local regulatory requirements and providing day to day advisory
• Oversee and monitor the reviews as per the Compliance Monitoring Plan.
• Provide Subject Matter Expert guidance to Business and Operations on AML and Sanctions, especially legal bindings and commentary on contractual obligations
• Oversee the operations and review of Suspicious Activity Reports (SARs) for reporting of Suspicious Transaction Reports (STRs) to the regulator
• Design and conduct periodic training of the staff on the latest and significant regulatory requirements including KYC/AML/CFT
• Act as single point of contact for International Financial Services Centres Authority (IFSCA) - the "regulator".
• Keep strong relationship with the IFSCA and other regulatory authorities and ensuring provision of required information to the regulators in a timely manner.
• Ensuring timely and effective closure of actions and audit findings suggested by the Audit Committee and Auditors respectively
• Submit periodic reports to the members of the Management Committee on issues of regulatory significance and tracking for resolution
• Implementing Compliance Risk Management framework in line with the applicable regulatory requirements and with coordination and direction from Head Office