Compliance:Compliance Operations Team

Compliance:
Compliance Operations Team
INTERNAL USAGE:
No. of Vacancies:
1

Reports to:

Compliance Operations Team

Is a Team leader
No
Team Size:
5-8

Grade:
Vice President (Compliance Operations)
Business:
Corporate Centre
Department:
Compliance
Sub   -  Department:

Location:

Mumbai
About Compliance
The Compliance department assists the Board and Top Management in managing the compliance risk, that is, the risk of legal or regulatory sanctions, financial loss or reputational loss that the Bank may suffer as a result of its failure to comply with the applicable laws, regulations or code of conduct applicable to banking activities. It ensures strict observance of all statutory provisions in various legislations such as Banking Regulation Act, Foreign Exchange Management Act, Prevention of Money Laundering Act, Reserve Bank of India Act, etc.

as well as the regulatory guidelines issued from time to time, the standards and codes prescribed by BCSBI, FEDAI, FIMMDA, etc. and the Bank's internal policies and fair practice code.
About      the      Role
.
Management of correspondence from regulators / law enforcement agencies such as RBI, SEBI, Enforcement Directorate, SFIO, etc. and timely / accurate submission of data / responses, monitoring timely submission of returns to regulators / govt. agencies by departments, internal / external stakeholder management.
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Providing timely inputs to data requests for reporting to the Board / Board Committee related matters including preparation presentations, response to action taken report and monitoring closure
.
Support all the internal activities such as audits (internal and external), system enhancements being undertaken to streamline, simplify or automate the processes within Compliance function.
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Ensure continuous review of the areas managed, identify process improvement areas and ensure timely implementation. This includes end-to-end implementation of these initiatives.
.
.
Collaborate with business and other lines of defense like internal audit and risk for information facilitating assessment of risk, being part of activities for promoting strong compliance culture within the Bank and managing other critical activities, administrative matters of the department.
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Supporting any other regulatory submissions, ad hoc requests as and when received by the department.

Key Responsibilities
The responsibilities will be corresponding to the areas mentioned in the role description above:
Board Governance Matters:
1.
Management of Board / Board Committee matters interalia covering preparation of agenda notes related to compliance function, preparation. Monitoring of action taken report specific to compliance department, presentations, monitoring Board / ACB / other Committees calendar of reviews from compliance function perspective, co-ordination with stakeholders for other related critical matters.
Regulatory matters / Correspondences from Regulators / Law Enforcement Agencies:
2.
Ensuring sharing of regulatory guidelines / notifications issued by regulators, regulatory bodies and government within compliance teams for action, conducting internal meetings of compliance teams for discussion / deliberation of actionable emanating from the guidelines and ensuring disseminating to the respective departments for action / monitoring their implementation / closure.
3.
Management of correspondence / communications received from regulators (RBI, SEBI, etc), law enforcement agencies (e.g. Enforcement Directorate, SFIO, CBI,etc.) and ensure timely submission of data/information/ responses through consistent follow up with departments.
4.
Monitoring submission of returns to regulators and Govt. agencies, review of Bank's policies by respective departments in prescribed timelines.

Strategic Initiatives:
1.
Management of various initiatives / projects (including automation) undertaken by compliance department.
2.
Monitoring implementation of Risk and Compliance Culture initiative of the Bank.
3.
Continuously enhance processes by leveraging automation to improve efficiency, accuracy, and scalability.

Internal / External Stakeholders Management & Reporting:
1.
Internal / External stakeholder management for managing the compliance operations activities.
2.
Monitoring submission of returns (Tranche 1, Tranche2 etc.) of the department.
3.
Reporting / MIS to Top Management e.g. status of review of policies, correspondences, regulatory returns, etc.
4.
Co-ordinate with statutory auditors, HR, Finance & Accounts and other departments for various compliance / administrative matters.
5.
Preparation of summary notes for MD&CEO for IBA managing Committee and Parliamentary Committee meetings held with banks and managing such other critical matters.
6.
Collaborate with other lines of defense like Internal Audit and Risk for exchange of results / information facilitating assessment of risk.
7.
Managing the external audits viz. Management Audit, Quality Assurance and Improvement Programme (QAIP), Model audit etc.

Qualifications - Gradewise
Optimal qualification for…