Key Responsibilities
Regulatory Compliance:
- Ensure that the Companys operations comply with all applicable RBI regulations, including those related to capital adequacy, asset classification, provisioning, liquidity management, and Fair Practices Code.
- Stay updated on changes in regulatory requirements and disseminate relevant information to the organization.
- Assist in implementation and maintenance of compliance policies and procedures.
- Monitor and report on compliance risks.
- PMLA/KYC Compliance:
- Ensure adherence to KYC/AML guidelines, including customer due diligence, transaction monitoring, and reporting of suspicious transactions
- Ensuring the Compliance Management Tool is updated regularly and dashboards are published in a timely manner to leadership.
- Building and updating trackers and reports for activities within compliance function Internal Audits and Monitoring:
- Conduct regular internal audits and compliance reviews to assess the effectiveness of compliance controls.
- Identify and report compliance gaps and recommend corrective actions.
- Monitor the implementation of corrective actions and track their effectiveness.
- Assistance in preparation of compliance related reports to the RBI and internal management. Automation, Training and Awareness:
- Automating systems and processes through a compliance tool
- Develop and deliver compliance training programs. Regulatory Liaison:
- Assistance in liasioning with regulatory authorities, including the RBI, NHB and FIU-IND.
- Preparing response to regulatory inquiries and requests for information.
- Facilitate regulatory inspections and audits.
- Maintain records of regulatory communications. Risk Management:
- Assist in the development and implementation of a risk management framework.
- Identify and assess compliance risks and recommend mitigation strategies.
- Contribute to the organization's overall risk assessment process.
- Handling of consumer complaints related to compliance.