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VP / SVP - Finance & Strategy with a Large MNC Bank

VP / SVP - Finance & Strategy with a Large MNC Bank

Riverforest Connections Private LimitedMumbai, MH, Maharashtra, India
1 day ago
Job description

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 view
  • Validate that the General Ledger schema, chart of accounts and mapping to regulatory data fields are consistent with Ind AS / IFRS and RBI guidelines
  • Liaise 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 Finance
  • Assess 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 regulations
  • Stakeholder management
  • Communication & Influence
  • Focus on Solution and Efficiency based approach
  • Education 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

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    Finance Strategy • Mumbai, MH, Maharashtra, India

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