Compliance : BUCG - Group Compliance Team

Compliance : BUCG - Group Compliance Team

About Compliance

Compliance department assists the Board and top management in managing the compliance risk arising out of legal or regulatory sanctions, financial loss or reputational loss that the Bank may suffer on account of its failure to comply with the applicable laws, regulations or code of conduct applicable to banking activities. This entails adherence to guidelines issued by regulators (Reserve Bank of India, Securities and Exchange Board of India etc) statutory provisions under various legislations (such as Banking Regulation Act, Foreign Exchange Management Act, Prevention of Money Laundering Act ec.) as well as the standards and codes prescribed by IBA, FEDAI, FIMMDA, etc. This also requires adherence to Bank's internal policies including Code of Conduct.

About the Role

Understanding Bank's and Bank's subsidiaries Regulatory and internal guidelines and exercise oversight on compliance as required .Tracking implementation of Group Assurance level Policies / Frameworks / Processes by Bank's subsidiaries, and assist the Sub. Compliance Officers / team to align policies / procedures to the Bank Compliance culture or regulatory expectations. Analysing impact of Regulatory Circulars / Directions / Notifications issued by RBI / SEBI / AMFI / IRDA / DP / SE any other regulator and dessiminate to Bank's Subsidiaries, monitor impplementation of regulatory guidelines and inform the Senior Management of Bank's Subs. about the Compliance Risk emanating if the guidelines are not implemented within the Regulatory timelines as prescribed by the Regulator. Partnering with Subsidiaries on various aspects of Regulations applicable to their Business and providing them solutions on matters referred by them in new and existing products and processes or any existing regualtory queries.

Conducting compliance process evaluations of Bank's subsidiaries, ad hoc testing of compliances, periodic compliance meetings alongwith Group Compliance Officers and Senior management of Subsidiaries, tracking of observations / recommendations / suggestions emanating from such evalautions / visits.

Assisting in RBI Inspection process and addressing Inspection Observations -RAR specifically focusing on group assurance function observations, assist in ATR and implementation of the actionables. Critically analysing monthly, quarterly and periodic submissions made by the Bank's subsidiaries w.r.t implementation of circulars, penalties, vigilance issues, adequacy of root cause anaylsis, regualtory audit report tracking for satisfactory closure etc., Reporting issues and concerns highlighted in periodic meetings / periodic submissions made by Bank's subsidiaries internally and tracking of actionables suggested by Group Team Lead / Group Compliance Officer. Any other similar activity pertaining to Subsidiaries / Group Companies

Key Responsibilities

• .Supervising dissemination and closure of actionable emanating from new guidelines, periodic meetings, RAR recommendations, and ensuring implementation by the respective Subsidairies.
• .Approval of any new / review of existing Policy / Internal circulars / processes / business / process after ensuring all regulatory / internal guidelines have been complied.
• .Handling of Compliance related queries and approvals received from subsidairies.
• .Providing relevant inputs for preparation of presentations / Dashboards for Board and other Committes.
• .Testing Processes related to Observations / Regulatory line items of RBI and closure of Testing reports.
• .Monitoring and tracking of Regulatory Observations emanating from Subsidairy regualtors viz., RBI / SEBI / PFRDA / SE / DP
• .Assisting RBI Compliance Team for onsite inspection and co-ordinating with Business for meeting Offsite Data requirements
• .Analysing RAR Report, closure of open issues in RAR and RMP
• .Staying abreast of latest version of system used by Bank and effectively evolving as a point of contact for all Compliance related activities within subsidairies for implementation of same.

Qualifications

Chartered Accountant, Company Secretary, MBA, LLB / Postgraduate with banking background

Role Proficiencies :

For successful execution of the job, a candidate should possess the following :

Skills Required

Refer to the Job Description