Compliance department assists the Board and Top Management in managing the compliance risk, arising out of legal or regulatory sanctions, financial 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 (BR Act, FEMA, RBI Act, etc.). This also required adherence to Bank’s internal policies and code of conduct.
About the Role:
The official shall be responsible for providing compliance advisory support and overseeing the Compliance Risk Management for Treasury functions and Market Risk.
Key Responsibilities:
Regulatory adherence / monitoring implementation:
- Assessment of applicable regulatory guidelines and identifying the actions emanating from these guidelines
- Ensuring that changes in applicable regulatory guidelines are promptly disseminated,
along with actionable to the concerned business units / departments for implementation
- Driving timely implementation of regulatory changes across assigned business, risk and support units
Compliance Advisory / Consultative Role:
- Being trusted & learned advisor - Advising business units on processes / controls from compliance standpoint to ensure adherence to applicable regulatory guidelines and Providing clarification on any compliance related issues and monitoring of resolution thereof
- Engaging with regulatory authorities to facilitate discussions and/or seek specific guidance on critical matters including interpretation of regulatory guidelines
- Reviewing recent products / change in product features, as a part of PMC/CMC, to be in alignment with applicable regulatory guidelines
- Review of policies / internal circulars or guidelines from compliance perspective, and challenge constructively & provide guidance to business