Assistant Manager - Risk Management - Compliance

Presently we have opening with one of our reputed clients. Please find below the details:

Job Type: Permanent

Location: Mumbai

Job Description:

Title: Assistant Manager - Risk Management (Compliance)

Role Focus: Regulatory Risk - compliance oversight, regulatory change

Job Purpose

- Provide guidance and ad-hoc consultancy in the area of regulatory and operational risk and governance across the organization. The role will also involve supporting business units across the Group, mainly UK office in specialised projects and ad-hoc consultancy requirements.

- General statement on the standards and responsibilities for all staff in respect to the Statements of Principle and Code of Practice as set out in the FCA/PRA regulations.

Responsibilities:

Regulatory Risk

To work under the direct supervision and guidance of the Manager/Risk Consultant to generally achieve the following for the Regulatory Risk function:

- Maintain awareness of regulatory changes that impact the UK business

- Support the delivery of education and embedment of existing regulatory rules including conduct risk within the business

- Analyse and develop proposals for guidance or advice on matters of regulation for example HMRC/TPR/DWP/PPF/FAS/FCA/PRA/ICO

- Provide effective and efficient guidance to the UK business

- Provide education to promote a positive compliance culture and to ensure that Risk staff are kept up-to-date with regulatory matters regardless of domain

- Work with colleagues across locations within the Risk function and the wider Business to ensure that UK office and its subsidiaries comply with the appropriate rules, regulations and codes of practice (Regulatory Compliance)

- Build and maintain an understanding of the business needs through regular interaction with relevant business areas

- Properly assimilate the information provided by the Business and the regulator to provide guidance on implementation of the regulatory change. Understanding the business background of the area impacted is a key factor

- Document the key processes and associated controls being examined. This will involve the use of flowcharts where necessary.

- Complete a control and risk assessment matrix following their documentation of the systems and processes being reviewed.

- Use of regulatory knowledge, business understanding and expert judgement, to quickly identify underlying issues and escalate issues, where appropriate.

- Develop good working relationships with Business stakeholders and Staff at functional levels (within organization's UK branch) to ensure efficient clearance of issues and timely completion of assurance reviews.

- Identify and report opportunities for improvement in the functioning of business processes resulting in efficiencies.

- Work with colleagues elsewhere within the Risk function to ensure that organization's UK branch maintains good working relationships with all Regulators and Trade Bodies.

- Provide specific support and analysis activities in preparation for regulatory inspections and visits

- Work with the business on specific regulatory issues, be that guidance, liaison or change initiatives.

- Oversight of regulatory returns for organization's UK branch, ensuring appropriate governance and timely reporting

- Support and occasionally lead assurance reviews as and when required, ensuring accuracy, maintenance and tracking of documentation and activity

- Participate in the production of MI or other information requirements

- Work as directed on projects, initiatives and incidents

- Build understanding and experience of the principles and practices of risk management

- Work with others in Risk to challenge the business in its approach to risk identification, quantification, mitigation and management

- Contribute to the continuous improvement of methodology across risk

- Work flexibly in support of the wider Risk agenda

- Comply with Risk Management policies, procedures and guidelines.

- Carry out monitoring work across whole of Risk Management function as and when required.

- Demonstrate a positive risk, compliance and control culture through the identification, assessment, monitoring and management of risks and issues within the business area, alongside ensuring timely and appropriate resolution of control weaknesses, actions and failures that arise.

- Contribute to the Risk objective of recruiting and retaining high quality people by supporting the Risk Consultants in the development of people within the team

- Promote a positive risk and control culture within Risk and across the business, balancing commercial considerations with regulatory ones

This job will involve international travel to organization's UK branch's offices in UK, Europe, Asia and Africa (estimated at about 25% annually)

Competence / Knowledge / Skills required:

Qualification & Certifications

Chartered Accountancy/MBA specialising in Finance/Risk Management

Relevant risk management certifications such as CRMA, Certificate in Financial Planning

Experience / Knowledge / Skills required

At least 3-7+ years of relevant experience in the areas of responsibility.

Worked in Compliance / Risk Management functions within the Financial Services companies (BFSI sector), Big 4 Accounting/Audit Firms or Big 5 Consulting Firms.

A good understanding of regulatory and compliance environments

A good understanding of the regulated marketplace and the position of Prudential within that market.

Practical and theoretical knowledge of business risk and control frameworks and how these map to evolving regulatory requirements.

Good knowledge of Insurance products, systems and distribution methods would be desirable.

Have a demonstrable track record of delivering process/control improvements within significant programmes of work, with nominal supervision.

Gather, summarise, and examine data or information and identify root cause and implications of findings.

Ability to operate remotely, in a diverse and multi-cultural environment. International work or consultancy exposure would be a definite plus.

Excellent Microsoft Office skills (Word, Excel and PowerPoint).

Skills

Ability to quickly learn and assimilate key processes and procedures

Ability to analyse rules and regulations, highlighting key considerations or new requirements

Confidence to challenge appropriately, escalating as required.

Enquiring and persistent approach

Good interpersonal skills - involving liaison across the organisation with key personnel, influencing other to deliver to deadlines and guiding them on specific requirements;

Good written and oral communication skills (Face to face and via the telephone or video-conference)

Ability to manage conflicting objectives

Comprehension and analysis skills

Ability to work to pressured deadlines

Ability to make quick independent decisions based on logical thought processes

Good organisation and logistical skills

Ability to plan and prioritise own schedule ensuring timely completion of responsibilities

Behaviours

Strong work ethic with the highest levels of professionalism, commitment and integrity.

Excellent communication, presentation and interpersonal skills.

Good listener with attention to detail, analytical, objective thought process and an enquiring approach.

Ability to work with minimal inputs, information or supervision and deliver to tight deadlines.

Ability to prioritise and manage conflicting objectives.

Ability to work independently with minimal supervision.

Ability to liaise and negotiate proficiently and effectively with the business and third parties.

Operates within the context of own function but willing to help other areas when required.

Pragmatic without compromising functional goals and professional requirements.

Willingness to share knowledge with colleagues and work collaboratively within and across teams.

Effective team player

About the Company

One of the international London based financial services group with significant operations in Asia, the US and the UK with around 24 million customers- base and - 496 billion of assets under management.

If interested in the discussed position then kindly revert with the following required details:

Latest CV:

Years of Exp:

Current CTC:

Expected CTC:

Notice Period:

Willing to travel to onsite locations on a regular basis:

Kindly feel free to connect with us on the given email id in case of any queries.

Purnendu Shakunt
Hirewire Solutions