AVP - RC Monitoring & Testing - Investment Bank

AVP RC Monitoring & Testing, -Hiring for Leading Investment Bank-Bangalore

We are hiring for Leading Investment Bank-AVP RC Monitoring & Testing, -Bangalore

Shift : between 10:00 AM - 10:00 PM

Business: Regulatory Compliance Monitoring and Testing (RCMAT)

Role Title AVP RC Monitoring & Testing, GSCs GHRS

(Couantry/Department) GSC RC Monitoring and Testing

- The purpose of this position is to perform periodic testing reviews of the compliance control framework as directed by RCMAT management. The objective of these reviews is to assure compliance with internal and external policies and procedures and with laws and regulations that are applicable banking activities. Review focus will be on assessment of the design and operating effectiveness of the control for the offshored activities.

Principal Accountabilities: Key activities and decision making areas Typical Targets and Measures

Impact on the Business

- Manage the activities of GSC RCMAT team and liaise with country RCMAT teams wherever required for execution of reviews.

- Ensure local monitoring activities are carried out in accordance with Global monitoring policies and methodology.

- Ensure local monitoring activities provide adequate coverage of the Group's key regulatory risks, liaising with Global Compliance teams

- Proactively identify key emerging compliance risks across all RC categories and interface appropriately with other RC teams and senior management

- Foster a close working relationship with key stakeholders in the region and in GSCs.

- Source and manage review information to perform testing drawing on the experience and knowledge of the RCMAT/RC team and with active participation of senior managers in the Business.

- Identify and follow-up for remediation / resolution of issues arising out of reviews undertaken by GSC RCMAT.

- Prepare reports to inform key stakeholders of the outcome of monitoring and review work, including rating findings and assigning owners/actions.

- To provide greater understanding of the potential impact and associated consequences / failings of significant new or emerging risks

- Manage and oversee preparation of the Dynamic Rolling Plan.

- Contribute to the preparation of consolidated MI on the results of monitoring reviews across different sites for Senior Management in the Business and RCMAT

- Contribute to the provision of education and support to CMAT specialists on risk assessments, planning and conducting reviews.

- Prepare reports to inform key stakeholders of the outcome of monitoring and review work, including rating findings and assigning owners/actions.

- Ensure all GSC RCMAT reviews are completed in time and as per quality standards laid out in global RCMAT methodology.

- Consistent, accurate and timely management information obtained from each country

- Evidence of effective communication with compliance teams and other monitoring staff.

- Consistent approach to monitoring across the business lines in the GSC site.

- Input to the timely production, delivery and completion of monitoring reports and MI.

- Input to the production of Testing and Monitoring Plans.

Customers / Stakeholders

- VP RC Monitoring & Testing, GSC

- CMAT Team at Country and Line of Business level

- GSC Operations and Support Functions

- On-shore RC & RCMAT country teams

Develop and maintain a collaborative working relationship with RCMAT monitoring specialists and key business stakeholders whilst ensuring independence of the monitoring function

Leadership & Teamwork

- Strong people management.

- Drive excellence, consistency and quality across the entire RCMAT team

- Develop and communicate a clear vision for RCMAT that is aligned to the overall Firms vision, Values and goals, and inspires and engages people to create an inclusive, high performing, customer-centred culture

- Remain up to date with key business developments and regulatory and industry practices.

- Participate in the full Compliance Monitoring review cycle.

- Communicate effectively at all levels to engage with senior stakeholders within the functions.

- Delivery of high quality review work.

- Support the team in delivering work to agreed deadlines.

Operational Effectiveness & Control

- Provide accurate and timely value adding input during all stages of the Compliance Monitoring review cycle including planning and scoping, fieldwork, reporting and issue management.

- Assist with liaison with Group Audit, Operational Risk Internal Control and Chief Control Office in relation to Compliance Monitoring matters.

- Ensure maintenance of robust and efficient control environment within GSC operations through planned reviews and early identification, effective resolution or escalation of issues that arise,

- Lead the implementation and oversight of policy and governance frameworks, procedures, practices and standards to ensure quality, effective risk management and regulatory compliance

Major Challenges (The challenges inherent in the role that require a continual test of the role holder's abilities)

- Firm operates in an increasingly complex and challenging regulatory environment. There is significant challenge in striking a balance between the demands of regulators and the Group's shareholders and customers

- Understand and respond appropriately to local differences maintaining trusted relationships whilst delivering the Group's wider strategic objectives

- Ensuring there is adequate independence of the monitoring function.

- Carrying out thorough preparation and high-quality reviews of First Line of Defence (1LoD) controls

- Maintain and enhance standards of Compliance in a rapidly growing and diversifying business.

- Against this period of considerable regulatory change and development, and as regulators develop their own understanding of compliance risk management, the role holder must maintain a strong knowledge and understanding of regulatory development and the evolution of the compliance risk framework, risk appetite and risk assessment methodology.

Role Context (The environment and operating conditions of the role including the extent of guidance and authority)

- Work collaboratively within the immediate team and more widely within the RCMAT team globally.

- Contribute to team's delivery of outstanding performance (client service, behavioral expectations, and adherence to Compliance Monitoring Plans).

- Work with the team to provide a highly professional, competent and skilled service to the Business.

- Exercise any/all delegated authorities with due care and diligence.

- Take decisions based on knowledge and experience.

- Think proactively and come up with ideas for enhancements to monitoring activity.

- Record details of compliance monitoring and review work onto IRIS along with follow up and escalation as necessary.

Management of Risk (Operational Risk / FIM requirements)

- Be aware of the Operational Risk, primarily Business Regulatory Risk, associated with the business. Conduct monitoring in accordance with the Principal Accountabilities set out above.

- Contribute to the Compliance Risk Assessment process aligned to L2 Regulatory Compliance taxonomy on an ongoing basis.

Observation of Internal Controls (Compliance Policy / FIM requirements)

- Maintain Firm internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.

- Assist in the discharge of accountabilities set out in the Compliance FIM by proactively assisting Compliance in their responsibilities to assist management in identifying and containing compliance risk, monitoring, reporting and certification, fostering a compliance culture and optimising relations with regulators.

- Immediately escalate to the Regional Head any material actual and potential breaches of Law, Rules and Regulations

Knowledge & Experience / Qualifications (For the role - not the role holder. Minimum requirements of the role.)

- Minimum of a Bachelor degree/PG in business, law, accountancy or related field or equivalent experience.

- Certification / Diploma holder in banking or compliance stream will be a plus.

- Experience of control testing gained within a financial services organization or audit/consulting practice

- Excellent planning, prioritisation and documentation skills are essential

- Awareness of good risk management and governance frameworks including 3 lines of defence criteria

- Understanding of the activities of relevant business lines and associated compliance risks .

- A proven track record of quickly acquiring new skills and expertise;

- Strong inter-personal skills and excellent communication, dealing with senior executives;

- Ability to foster relationships whilst providing adequate challenge and effecting change

- Ability to work under pressure and within tight time-lines

- High level of professional and personal integrity

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