Associate - Compliance - Credit Card

JOB PROFILE :

Job Title : Associate - Compliance

Department : LCS

Section/ Business Area : Business Compliance - Credit Cards

Job Status : Head - Compliance

Reports to (Hard Line) : SVP - Compliance

Job Purpose :

- To ensure that best practices are adopted, and guidelines complied with and that all New Products and outsourcing activities comply with applicable laws, rules, and regulations.

- To assist in Reviewing and interpreting new laws and regulations and advising Units regarding legal and regulatory requirements impacting Bank (primarily pertaining to Credit Cards)

Key Accountabilities :

PRIMARY :

1. Outsourcing Risk Review for Regulatory requirements

2. Handling of RBI Inspection and RBI Liasioning

3. Conducting Compliance testing in accordance with the Compliance testing plan

4. Provide Compliance opinion for New Product Approvals

5. Reviewing and interpreting new laws and regulations and advising Units regarding legal and regulatory requirements impacting Bank (primarily pertaining to Credit Cards)

Job Duties & Responsibilities :

- Assist in the conduct of RBI Audit and resolution of regulatory issues.

- Ensure best practices are adopted and guidelines complied with and that all activities comply with applicable laws, rules and regulations in case of Outsourcing and New products approvals.

- Liaise with the Regulators and establish a cordial rapport. Correspond with the regulators, if appropriate.

- Proactively forge relationships with a broad range of business areas and third parties to encourage the best quality output and service from the team.

- Share know-how and experience with other the legal-compliance team and elsewhere within the bank compliance and legal function, including participation in any global practice groups relevant to role and expertise.

- Managing Inward Correspondence with the regulators.

- Addressing queries relating to legal/regulatory risks involved in launch of new products/business, expansion (primarily pertaining to Credit Cards); and

- Evaluating suspected violations of laws and regulations in conjunction with Group Compliance.

- Disseminating regulations to business and support functions and provide ongoing advisory service (primarily pertaining to Credit Cards) to ensure that the Bank operates in accordance with (a) all regulatory and legal requirements; and (b) Group compliance standards.

Core Competencies :

- Excellent diagnostic skills and rigorous approach to problem solving

- Excellent communication and negotiation skills at all levels, especially drafting & writing skills

- Excellent comprehension skills to understand and interpret industry data and economic trends

- Strong formal presentation skills to gain acceptance to solutions, both internally and externally

- Attention to detail & Tenacious

- Ability to think creatively and identify innovative solutions; Should have a stable mindset to handle issues & also be able to think through a problem

- Should be able to identify and forecast legal & compliance risks / rewards, in line with proposed business growth & find solutions

Technical Competencies :

- Extensive financial & technical knowledge of banking and financial services laws

- Strong technical ability & ability to grasp new technical areas of law very quickly

- Knowledge on BCSBI (Banking Codes & Standards Board of India)

- Knowledge on all related laws in India especially laws governing RBI, SEBI, FEDAI, IRDA, AMFI, FIMDA, NSE, BSE, NSDL, CDSL, etc.

- Sound knowledge of the overall banking environment (primarily pertaining to Credit Cards)

- Must have overview of the applicability of various statutes/ laws applicable.

- Must have worked on overall regulatory compliance in Bank for 5-7 years (incl. regulatory advisory or regulatory compliance for Credit Cards business for minimum 2 to 4 years)

Work Relationship :

- Close working relationship with all business heads, product owners & internal support functions to sign off & ensure compliance for all products & services offered by bank (primarily pertaining to Credit Cards)

- External interaction with governing bodies such as the RBI, SEBI, FEDAI, IRDA, AMFI, FIMDA, NSE, BSE, NSDL, CDSL, etc.

- Establish a working relationship with Legal & Compliance team .