Position Purpose
Local Finance – Regulatory Governance and Controls
Process and New Product assessment, improvisation and Audit management.
The role ensures that regulatory reporting is performed in line with the firm's policies & procedures applicable accounting standards, and regulatory expectations, while maintaining rigorous control frameworks, data quality standards and continuous process improvement.
Responsibilities
Policies and Procedures
- Create and maintain the local Regulatory Accounting and Reporting Policies.
- Periodically review and update policies to reflect regulatory changes or process enhancements.
- Ensure with the regulatory reporting team members that all reporting activities comply with the latest internal policies and RBI / Central Bank circulars.
Accounting Norms and Product Schema through NAC / TAC Management
Own the accounting and reporting treatment matrix for all product families (loans, deposits, trade finance, derivatives, securities, NPA related items, etc.) from regulatory point of viewValidate that the General Ledger schema, chart of accounts and mapping to regulatory data fields are consistent with Ind AS / IFRS and RBI guidelinesLiaise with Product, Treasury and Risk to capture new product roll outs and reflect correct accounting codes in the regulatory reporting engine.LoD2 for Regulatory Reporting
Act as the second line of defense – design, document and execute control activities that mitigate reporting risk.Review and sign off on data lineage, model assumptions and materiality thresholds before submission to regulators.Control Testing, Design and Implementation
Develop and maintain a Control Testing Framework (risk based testing plan, test scripts, defect tracking).Perform periodic design effectiveness and operating effectiveness tests on key controls (e.g., regulatory adherence, data reconciliation, segregation of duties, approval workflows, systems access etc.).Report test results, remediate gaps and monitor remediation progress.Support Audits & Regulatory Inspections for Finance
Support CFO and Head of Regulatory reporting, for data extracts and explanatory notes for internal auditors, external auditors and RBI inspection teams.Respond to audit queries, provide evidence of control design / operation and provide assurance on regulatory adherence to the auditors and inspectors.Regulatory Watch
Continuously monitor RBI circulars, notifications, and industry wide regulatory developments related to FinanceAssess impact on local reporting obligations; produce impact assessment briefs and update the team on upcoming changes.Regulatory Reporting Governance, Data Quality & Process Efficiency
Govern the Regulatory Reporting Register – maintain deadlines, ownership, version control and status.Implement a Data Quality Framework (validation rules, exception handling, audit trail retention).Lead process improvement initiatives – automation (RPA, SQL / Python scripts), workflow redesign, reduction of manual touch points and measurement of efficiency gains.Technical & Behavioral Competencies
Expert Knowledge of RBI regulationsStakeholder managementCommunication & InfluenceFocus on Solution and Efficiency based approachEducation Level : CA
Experience Level : At least 10 years
Other / Specific Qualifications : 10+ years of work experience within banking industry across or in roles related to Regulatory Accounting & Reporting or Compliance
