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.