The Senior Compliance Manager - Retail Liabilities & Wealth will be responsible for managing compliance risk within the bank. This role is part of the Compliance Function, an independent unit ensuring adherence to regulatory requirements. The position is based in Mumbai and requires a seasoned compliance qualified with a proven track record in banking or NBFC compliance functions.
Primary Responsibilities
- To work closely with business units and support / control functions to effectively implement compliance requirements related to Wealth Business and Retail Liability vertical of the Bank.
The Wealth
Business will include various insurance and investment products and liability vertical encompasses various account and deposit.
- To ensure that all required policies, procedures, manuals, etc. is in place to conduct business in compliance with the regulatory framework in wealth business of the Bank.
- To review required Policies, Product notes / Manuals, SOPs & other Internal process documents for wealth and liability products of the Bank in line with Regulator guidelines and instructions issued.
- To review and provide Compliance comments / views for launching various products, product variant, campaigns, etc.
- Broadcast relevant Regulatory circulars for wealth business to the respective business teams also highlighting the points/actionable that are required to be completed by them for Ensuring timely submission of all the relevant certifications, filing reports, responding to regulatory queries and communications/letters pertaining to Regulatory regulations.
- To identify compliance issues, escalate those appropriately and take a lead to close those issues promptly.
- Circulate advisory for sensitizing various stakeholders on the key updates and various regulatory issues.
- Co-ordinate with various stakeholders of the Bank during inspection by Regulator (RBI, IRDAI, PFRDA, etc) including collation of indents and timely submissions. Also, collating responses from various stakeholders for the observation raised by Regulator during the inspection.
- Preparing control points for the various line items pertaining to wealth business in the RBS Tranche III data. Co-ordination with the relevant persons for procurement of data and confirmations for putting the controls.
- To perform other Compliance activities for liability and wealth products as may be assigned by the management.
Secondary Responsibilities
- Perform other compliance activities as assigned by management.
- Support cross-functional initiatives and contribute to compliance strategy development.
Qualifications
- Preferably CA / CS / Law graduate / MBA with relevant experience
Experience: Proven track record in the compliance function of a bank or NBFC with extensive 7 years of experience in managing regulatory compliance and risk.
- Industry : Banking / Finance
📌 Senior Compliance Manager-Retail Liabilities & Wealth (Mumbai)
🏢 IDFC FIRST Bank
📍 Mumbai
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