VP - Compliance (Gift City)

Job Description

JOB PURPOSE :

To ensure that the activities and businesses of Gift City India are carried out in accordance with IFSCA and other local rules and regulations and to provide update on compliance matters to the related Compliance units in the Compliance Division.

KEY ACCOUNTABILITIES :

• Provide support primarily on regulatory compliance advisory covering IFSCA Act, related Rules, Regulations and Guidelines as well as secondary support on Financial Crime Compliance (AML, Sanctions, and ABC) matters.
• Carry out Compliance Monitoring and Assurance Testing on all business units and infrastructural functions in Gift City Branch
• Provide compliance trainings for core and high-risk areas to ascertain that all staff in Gift City Branch are aware of their regulatory obligations with emphasis on AML to educate staff and raise their awareness of their individual obligations in relation to AML and have a working knowledge of how to identify suspicious transactions.
• Maintain and update the Compliance Compendiums / Registers for India Gift City branch and keep abreast of global and local regulatory reform, providing leadership to the bank for regulatory reform management.
• Develop, maintain and update Compliance Policies and Procedures for India Gift City branch, taking into consideration changes to Group Policies, local regulatory developments and international best practices.
• Develop, establish and implement, maintain and review the internal Compliance Framework, AML and CFT Framework - consisting of policies, standard operating procedures and best work practices, and self-assurance audits etc., covering both regulated and non-regulated business activities and the bank's business operations, and monitoring oversight to ensure their robustness and effective implementation and compliance by the respective Business Units and Department.
• Provide periodic, regular and accurate reports to the Senior Management, both local India and Head Office on regulatory and compliance matters, AML and CFT matters, which includes the updating of the latest legislations and regulations, raising of significant regulatory matters, concerns or breaches of regulations, etc., and assess and suggest ways to mitigate and manage these risks.
• Handle projects as designated by Group Compliance.
• Support the Gift City branch's audit remediation efforts and to liaise with Auditors, Inspectors and Consultants.
• Keep abreast of regulatory developments in India in specific to IFSC and to review changes to regulation, analyze its impact for Gift City Branch.
• Provide guidance, advice and support in relation to all regulatory matters applicable to India Gift City and ensure continued technical understanding of the activities and regulations.
• Provide assistance to conduct special investigations or reviews as and when required.
• Perform other additional tasks as required from time to time as directed by the Group Compliance in the head office.

Anti-Money Laundering / Countering the Financing of Terrorism ('AML / CFT')

The AML / CFT responsibilities shall include but not be limited to :

Job Context :

Specific Accountability :

FRAMEWORKS, BOUNDARIES, & DECISION-MAKING AUTHORITY :

Qualifications

Additional Information

EXPERIENCE :

At least 10-15 years of business experience with minimum working experience of 5 years in Bank Compliance.

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Skills Required

compliance training