Regulatory, Compliance & Controls Testing & Validation
- Consultant Same job available in 3 locations Bengaluru, Karnataka, India Chennai, Tamil Nadu, India Hyderabad, Telangana, India Position Summary Regulatory, Risk & Forensic | Testing & Validation Utility Our Regulatory, Risk & Forensic team supports client leaders to translate multifaceted risk and an evolving regulatory environment into defensible actions that help strengthen, protect, and transform organizations. Join our team and use advanced data, AI and emerging technologies with industry insights to help client service teams bring clarity from complexity and accelerate their path to value creation. The Testing & Validation Utility delivers integrated regulatory, compliance, and controls testing and validation services, along with regulatory reporting, across Controls Testing, Conformance Testing, Compliance Testing, Regulatory Reporting QA & Testing, Risk & Control Self-Assessment (RCSA) and Post-Effectiveness Testing, Issue Management & Remediation Validation, and Regulatory Reporting for global clients across industries, with a particular focus on Banking, Capital Markets, Investment Management, and Insurance. We expect our professionals to bring exposure across the end-to-end risk management lifecycle — Transactions, Conformance, Controls, Compliance, RCSA, and Issue Management — and to apply that breadth across the components they support. Position Summary Regulatory, Compliance & Controls Testing & Validation | Consultant Level: Consultant or equivalent (4-7 years of relevant experience) As an experienced Consultant within the Testing & Validation Utility at Deloitte Consulting Services, you will be responsible for individually delivering high quality work products within due timelines across regulatory, compliance, and controls testing and validation activities, along with regulatory reporting, spanning the Regulatory, Risk & Forensic portfolio. As needed, you will mentor and/or direct junior team members and liaise with onsite/offshore teams to understand the functional requirements. About At Deloitte, we do not offer you just a job, but a career in the highly sought-after Risk Management field. We are one of the business leaders in the risk market. We work with a vision to make the world more prosperous, trustworthy, and safe. Deloitte’s clients, primarily based outside of India, are large, complex organizations that constantly evolve and innovate to build better products and services. In the process, they encounter various risks and the work we do to help them address these risks is increasingly important to their success—and to the strength of the economy and public security. By joining us, you will get to work with diverse teams of professionals who design, manage, and implement risk-centric solutions across a variety of domains. In the process, you will gain exposure to the risk-centric challenges faced in today’s world by organizations across a range of industry sectors and become subject matter experts in those areas. Work you’ll do: Our Regulatory, Risk & Forensic Operate professionals help organizations effectively navigate business risks and opportunities — from strategic, reputation, and financial risks to operational and regulatory risks — to gain competitive advantage. We apply our experience in ongoing business operations and corporate lifecycle events to help clients become stronger and more resilient. Our market-leading teams help clients embrace complexity to accelerate performance, disrupt through innovation, and lead in their industries. We support clients by delivering Operate services spanning the Regulatory, Risk & Forensic portfolio. We embed continuous advantage through domain, industry, technology / Gen AI, and transformation skills to perform client business functions that manage risk and deliver value-added outcomes. As a Consultant within the Testing & Validation Utility, you will individually deliver regulatory, compliance, and controls testing and validation outcomes, along with regulatory reporting, across the end-to-end risk management lifecycle for global clients across industries, with a focus on banking, financial services, and insurance — owning end-to-end execution of assigned work, applying methodology with rigor, and partnering with control owners, process owners, and second-line stakeholders. You will be expected to bring breadth across multiple components and depth in at least two. You will perform this work for first-line control owners, second-line risk and compliance functions, and internal audit, following a standard methodology and using analytics and GenAI tools. Typical activities include data sourcing and reconciliation, walkthroughs, population validation, sample selection, evidence review, root cause analysis, workpaper documentation, and reporting of results and remediation status. Specific responsibilities span the following areas: Controls Testing Perform end-to-end assessments of the design and operating effectiveness of operational and compliance controls — including walkthroughs, process documentation, test strategy, sample design, and population validation — with full traceability from risk through evidence to conclusion.
· Perform end-to-end control assessments across operational and compliance controls, including planning, walkthroughs, design and operating effectiveness testing, documentation, and issue follow-up
· Apply risk analysis principles to scope reviews; develop test strategies, sample selection methodology, sample sizing, and rationale; document process flows and key controls
· Prepare reviewer-ready workpapers and draft observations including root-cause analysis, impact assessment, and remediation tracking
· Identify control deficiencies, document them with clear rationale, recommend corrective actions, and re-test where required; track remediation to closure
· Collaborate with control owners, process owners, 2nd Line of Defense partners, and Internal Audit; build reports/dashboards (Excel, Power BI, Tableau) for testing progress and exceptions Conformance Testing Execute conformance reviews of reports, processes, and controls against published regulatory instructions, internal policies, and procedures; identify variances, perform root cause analysis, and drive remediation.
· Execute conformance testing of regulatory reports and key business processes against published regulatory instructions, internal policies, procedures, and operating standards (e.g., FFIEC instructions, FR Y-9C glossary, Basel III, MiFID II, FINRA TTRO, Reg YY)
· Perform completeness, timeliness, and accuracy controls; reconcile reports against source data and prior submissions; identify variances and root causes
· Review and enhance process narratives, Operating Procedures, Checklists, and SOPs to ensure they are accurate, current, and aligned with regulator expectations
· Generate MI on conformance results, timeliness, and accuracy; escalate key issues and coordinate IT/operational fixes with business owners
· Support response to internal audit, second-line challenge, and regulatory examinations on conformance topics Compliance Testing Test the design and operating effectiveness of compliance controls across federal and state consumer protection regulations, BSA/AML, OFAC, sanctions, KYC, and fraud, delivering independent assurance outcomes for the business.
· Plan and execute compliance testing work programs across consumer and commercial regulations; assess whether controls are designed and operating effectively to comply with applicable laws, regulations,



and firm policies
· Conduct routine and ad-hoc compliance testing including forensic testing, transactional testing, and surveillance testing; design test scripts and sampling approaches for high-risk processes
· Apply data analysis tools and analytics to mine populations, identify high-risk transactions, account types, activity patterns, and surface themes across business lines
· Validate Risk and Control Matrices (RCMs), business-unit control testing, and remediation actions; identify control improvement opportunities
· Communicate test results to Compliance, Operational Risk, FLU process owners, and senior stakeholders; identify themes/trends at FLU, control function, and Enterprise level Regulatory Reporting QA & Testing Perform in-line Quality Assurance and independent testing of regulatory reports to validate data lineage, conformance with reporting instructions, accuracy, completeness, and the effectiveness of report-level controls.
· Plan and execute end-to-end QA testing across regulatory reporting submissions (FR Y-9C, FR Y-15, FR 2052a, FFIEC, LCR, CCAR, PRA 110, FINREP/COREP, etc.), covering data profiling, completeness, accuracy, conformance with reporting instructions, and control evaluation
· Perform transaction-level testing from point of origin to reporting, including source-to-report data lineage, line item mapping, and validation of underlying products, accounting concepts, data elements, and data flow
· Develop, refresh, and document QA test methodologies including scoping, sample selection, sample sizing rationale, and test scripts for assigned report families
· Prepare reviewer-ready workpapers, draft observations, and conclusions; identify control gaps, document rationale, and recommend remediation
· Coordinate with Report Owners, Finance, Risk, Operations, and Data SMEs to obtain evidence, resolve interpretive questions, and validate findings
· Track issue remediation, validate evidence of closure, and re-test where required; support response to internal audit and regulatory examinations Risk & Control Self-Assessment (RCSA) and Post-Effectiveness Testing Facilitate and execute risk and control self-assessments — identifying inherent risks, evaluating control effectiveness, rating residual risk, and tracking action plans — and perform post-effectiveness testing of key controls, in line with the Operational Risk Management Framework.
· Facilitate RCSAs for assigned business units and processes: identify inherent risks, evaluate control design and operating effectiveness, assess residual risk, and document RCSA outputs
· Apply enterprise risk taxonomy and control taxonomy; rate risks and controls consistently; map controls to applicable regulations, policies, and standards
· Drive design and execution of post-effectiveness testing for key controls identified in RCSA; validate management's self-assessment ratings and challenge where required
· Track RCSA action plans, control enhancements, and remediation through to closure; partner with 1LoD risk officers, control owners, and 2LoD
· Configure and maintain RCSA records in the GRC platform; produce risk reporting, heat maps, and trend analyses for senior stakeholders Issue Management & Remediation Validation Validate the completeness and accuracy of issue remediation activities, perform root cause analysis, and assure the sustainability of corrective actions for self-identified, audit, and regulatory issues.
· Perform issue validation for high-complexity self-identified, audit, and regulatory issues; review and assess individual remediation artifacts for completeness and accuracy
· Partner with issue owners and Issue Execution Officers to incorporate observations into remediation scope prior to issue due date; ensure alignment to enterprise issue management standards and regulatory expectations
· Support completion of issue closure packages with rationale, evidence inventory, and validation conclusions; identify themes in remediation to feed into best practices
· Coordinate end-to-end issue management process: root cause analysis, corrective action development, sustainability testing, and risk mitigation validation
· Provide credible challenge and recommendations to issue owners and leadership; recommend updates to controls, policies, procedures, and risk/control documentation Regulatory Reporting Alongside testing and validation work, own and execute the preparation, review, and timely submission of financial and non-financial regulatory filings across Banking, Capital Markets, and Investment Management clients — including FFIEC Call Reports, FR Y-series filings, CCAR/DFAST, liquidity and capital reports (LCR, NSFR, FR 2052a), broker-dealer filings (FOCUS, FINRA), and Investment Management reports (Form PF, N-PORT, Form ADV) — with appropriate accuracy, completeness, and audit-ready documentation.
· Manage end-to-end regulatory reporting activities for assigned report families across Banking (FFIEC Call Reports, FR Y-9C/9LP/9SP, FR Y-14A/Q/M for CCAR/DFAST, FR Y-15, FR 2052a, LCR, NSFR, capital and liquidity reports), Capital Markets (FOCUS Report, FINRA filings, Volcker Rule reporting, large trader reporting), and Investment Management (Form PF, N-PORT, N-CEN, Form ADV, CPO-PQR, 1940 Act and Private Funds, liquidity and derivatives reporting), ensuring compliance with applicable requirements and deadlines
· Prepare, review, and submit regulatory filings to the FRB, OCC, FDIC, SEC, CFTC, FINRA, and international regulators (PRA, FCA, EBA via COREP/FINREP) where applicable; ensure accuracy, completeness, and consistency with established standards
· Maintain and enhance SOPs, documentation, control frameworks, and audit trails to support audit readiness and regulatory examinations
· Coordinate across Finance Controllership, Treasury, Risk, Compliance, Legal, Operations, Technology, and external service providers throughout the reporting lifecycle; resolve interpretive questions and operational issues
· Support regulatory exams, internal audits, and ad-hoc data requests related to capital, liquidity, financial, and non-financial reporting
· Drive continuous improvement and change-management initiatives to strengthen reporting quality, reduce operational risk, and improve process efficiency Root Cause & Thematic Analysis, Testing MI, and KCI/KRI Reporting (across all components) Analyze why exceptions occur, surface themes across testing results, and report results and remediation status to control owners, second-line risk and compliance functions, and internal audit.
· Perform root cause analysis on test exceptions, control deficiencies, and conformance breaks; identify recurring themes across testing cycles and business units and recommend corrective actions
· Build and maintain testing MI, dashboards, and KCI/KRI views (Excel, Power BI, Tableau) covering testing progress, exceptions, and remediation status
· Communicate results and remediation status to control owners, risk and compliance functions, and internal audit; escalate key themes and trends Analytics-led & GenAI-enabled Testing (across all components)
· Use approved AI / GenAI tools (Microsoft 365 Copilot,



Claude, ChatGPT / Azure OpenAI, Deloitte-approved AI assistants) to accelerate test-script drafting, walkthrough narrative buildout, policy-to-control mapping, evidence review, exception triage, and report drafting, in line with firm AI usage policies
· Apply prompt-engineering skills (role, context, task, constraints, output format) to generate reliable, audit-friendly outputs; iteratively refine prompts and validate accuracy
· Use SQL, SAS, Python (pandas), Alteryx Designer, KNIME, or Power Query for population validation, sample selection, reconciliations, transaction tracing, and full-population analytical procedures
· Use Power BI, Tableau, or Qlik to build testing dashboards, KCI/KRI views, and stakeholder reporting Required

skills:
· 4-7 years of relevant experience in controls testing, regulatory reporting QA, conformance testing, compliance testing, RCSA, internal audit, operational risk, SOX, financial crimes, or business process management in a BFSI, other regulated-industry, or consulting environment
· Exposure across the end-to-end risk management lifecycle — Transactions, Conformance, Controls, Compliance, RCSA, and Issue Management — with hands-on delivery in at least two of these components
· Strong understanding of internal control concepts (manual vs. automated controls, preventive vs. detective controls, IPE, SoD, sampling fundamentals)
· Working knowledge of the COSO 2013 framework and US/UK regulatory frameworks (e.g., FR Y-9C, FR Y-15, FR 2052a, LCR, CCAR, PRA 110, Reg YY, BSA/AML, UDAAP, Reg B/Z, FCRA)
· Exposure to regulatory reporting across Banking (FFIEC Call Reports, FR Y-9C, FR Y-14 CCAR/DFAST, FR Y-15, FR 2052a, LCR/NSFR), Capital Markets (FOCUS Report, FINRA filings), and/or Investment Management (Form PF, N-PORT, Form ADV, 1940 Act and Private Funds, derivatives and liquidity reporting) is highly desirable
· Advanced Microsoft Excel (pivots, lookups, conditional logic) and strong working knowledge of Word, PowerPoint, and Outlook
· Working knowledge of, and willingness to use, AI / GenAI tools (Microsoft 365 Copilot, Claude, ChatGPT / Azure OpenAI, or equivalents) for test-script generation, walkthrough narrative buildout, policy-to-control mapping, evidence review, exception triage, and report drafting
· Basic prompt-engineering skills
- able to write clear, structured prompts (role, context, task, constraints, output format) and iteratively refine them for reliable, audit-friendly outputs
· Working knowledge of SQL (and exposure to SAS, Python pandas, KNIME, or Power Query) for population validation, sample selection, transaction tracing, reconciliations, and exception analysis
· Hands-on or strong working knowledge of at least one analytical / data-prep tool such as Alteryx Designer, KNIME, or Power Query
· Strong analytical skills with high attention to detail and accuracy
· Strong written and verbal communication skills, with ability to document observations and interact with stakeholders across levels
· Ability to work in a fast-paced environment, manage multiple priorities, and meet deadlines with high-quality standards Preferred

skills:
· Exposure to BFSI products and processes (banking operations, payments, lending, capital markets, insurance, or investment compliance)
· Exposure to SOX Section 404 and ITGC testing
· Experience with US/UK regulatory requirements across Banking (FR Y-9C, FR Y-14 CCAR/DFAST, FR Y-15, FR 2052a, LCR/NSFR, PRA 110, FFIEC Call Reports, FINREP/COREP), Capital Markets (FOCUS, FINRA filings), and/or Investment Management (Form PF, N-PORT, Form ADV) plus consumer compliance regulations (UDAAP, RESPA, TILA, Reg B/Z, FCRA, SCRA, FDCPA, BSA/AML, OFAC)
· Experience with reporting tools (e.g., Axiom, Vermeg, Moody's, Wolters Kluwer OneSumX) is a plus
· Exposure to GRC platforms (Archer, ServiceNow GRC / IRM, MetricStream, OpenPages, or Workiva)
· Awareness of Continuous Controls Monitoring (CCM) concepts and analytics-driven assurance
· Awareness of Deloitte AI policies and Trustworthy AI frameworks; certifications such as Microsoft AI-900 are a plus
· Pursuing or partially completed certifications such as CIA, CISA, CRMA, CFE, FRM, CAMS, CPA, ACCA, or equivalent
· Public accounting / Big 4 experience in audit or SOX advisory / consulting
· Basic Python or VBA for data wrangling and reconciliation tasks Qualification:
· Bachelor's degree in Commerce, Finance, Business, Accounting, Engineering, or Computer Science, or similar 3-year graduate course
· M.
Com / MBA or similar post-graduate course (Tier 2/3 colleges) preferred

Location:
· Hyderabad / Bengaluru / Chennai
· Professionals are required to work from the office all 5 days of the week.
· Based on engagement requirements, professionals will be required to work out of a secure clean room and/or an Offshore Delivery Center (ODC). Shift Timings:
· Based on the engagement, professionals will work in one of the following shifts: 9:00 AM – 6:00 PM, 11:00 AM – 8:00 PM, or 2:00 PM – 11:00 PM.
· As part of your role at Deloitte and its related entities, you may be required to work in various shift timings to support client deliverables. This could also involve working beyond standard hours, including weekends, holidays and also from Offshore Delivery Centers (ODC) or Client Location. You may be assigned to projects on different technical platforms and skills, and work at designated locations as determined by the company. Our purpose Deloitte’s purpose is to make an impact that matters for our people, clients, and communities. At Deloitte, purpose is synonymous with how we work every day. It defines who we are. Our purpose comes through in our work with clients that enables impact and value in their organizations, as well as through our own investments, commitments, and actions across areas that help drive positive outcomes for our communities. Our people and culture Our inclusive culture empowers our people to be who they are, contribute their unique perspectives, and make a difference individually and collectively. It enables us to leverage different ways of thinking, ideas and perspectives, and bring more creativity and innovation to help solve our clients’ most complex challenges. This makes Deloitte one of the most rewarding places to work. Professional development At Deloitte, professionals have the opportunity to work with some of the best and discover what works best for them. Here, we prioritize professional growth, offering diverse learning and networking opportunities to help accelerate careers and enhance leadership skills. Our state-of-the-art DU: The Leadership Center in India, located in Hyderabad, represents a tangible symbol of our commitment to the holistic growth and development of our people. Explore DU: The Leadership Center in India. Benefits to help you thrive At Deloitte, we know that great people make a great organization. Our comprehensive rewards program helps us deliver a distinctly Deloitte experience that helps that empowers our professionals to thrive mentally, physically, and financially—and live their purpose. To support our professionals and their loved ones,

we offer
a broad range of perks. Eligibility requirements may be based on role, tenure, type of employment and/ or other criteria. Learn more about what working at Deloitte can mean for you. Recruiting tips From developing a stand out resume to putting your best foot forward in the interview, we want you to feel prepared and confident as you explore opportunities at Deloitte. Check out recruiting tips from Deloitte recruiters. Requisition code: 374118

📌 Regulatory, Compliance (Hyderabad)
🏢 Deloitte
📍 Hyderabad