Chief Compliance Officer (CCO) on contractual basis with PSU Bank Hiring a CCO with a PSU bank on contractual basis initially for 3 Years, extendable as per the performance. Eligibility / educational qualification: Bachelor's degree in accounting, finance, management or a related field of study. However master degree holder & CAIIB pass candidate will be given weightage. Work experience : Candidate should have working experience in any of Public Sector Banks, Private Sector banks or Reserve Bank of India for at least 10 years. Candidate should have worked for at least 05 years in the rank of Asst. General Manager and above in Compliance department/Risk Based Supervision Department. Role and responsibilities are outlined below: 1) Develop function wise compliance manuals and provide these to the staff associated with the respective functions. 2) Identify level of compliance risk in each business line, products and processes and mitigation of such risks. 3) Circulation of : A) Instances of compliance failures among staff B) Preventive instructions. 4) Active interaction with head of audit for remedying deficiencies 5) Vetting of guidelines/circulars issued, for compliance with regulatory guidelines before these are disseminated amongst the operational units. 6) Putting in place a robust mechanism to : a) Ensure that regulatory guidelines/instructions are promptly issued/ disseminated within the organization. b) Monitor compliance with the regulatory guidelines/ instructions. c) Ensure detection of frauds are promptly reported to the regulator in the prescribed timelines. 7) Be a reference point for the bank's staff from operational departments for seeking clarifications/ interpretations of various regulatory and statutory guidelines. 8) At frequent intervals, interact with Legal Department, operational Risk Management Department, Taxation Department and Audit / Inspection Department of the bank to take stock of the latest developments. 9) The CCO shall necessarily be a participant in the periodical informal discussions held with RBI. In case no periodical meetings are held, he should meet the CGM, DBS in charge of the concerned bank at Central Office of RBI, when necessary, to discuss compliance issues. 10) Subjecting - new products launches- to compliance test and monitor the product for the first six months of introduction to ensure that the indicative parameters of compliance risk are mitigated. 11) Arrange to put in place a comprehensive compliance manual - documenting and recording for posterity 12) Documenting well entrenched list of Dos nand DONTS in business operations. 13) Oversight of risk based compliance programme. 14) Submission of reviews on quarterly/ annual basis to Board/ Board level committee 15) Focus on regulatory/statutory compliance a) Compliance with fair practice codes and b) Other codes prescribed/ suggested by self regulatory organization, c) Government policies, bank's internal policies and prevention of money laundering/ funding of illegal activities. 16) Compliance with legal and regulatory requirement by overseas branches/subsidiaries/joint ventures in different jurisdictions observing proper standards of market conduct. 17) Managing conflicts of interest between business mandates and compliance. 18) Increased attention in ensuring compliance of : i. Prevention of money laundering and terrorist financing. ii. Various directions emanating from banking regulator and supervisor iii. Tax laws and other statutes iv. KYC practices, frauds, fictitious offer of funds v. Sharing of information under law 19) Evolve and compliance culture in the Bank with respect to scale of operations, risk profiles and organizational structure. 20) Constantly work on forward looking compliance culture to deal with today's requirements with an eye on tomorrow. 21) Calibrating each guideline and mapping it to risk categories. 22) Testing controls around each guideline. 23) Put in place a system, where transactions audit undergoes verification by compliance functionaries. 24) Evolve a Compliance assessment template to include all regulatory guidelines that need testing and same should be updated all the time. 25) Putting in place a mechanism for sampling and testing of business risk. 26) Put in place a system to ensure on an ongoing basis : a. integrity of regulatory/supervisory reporting b. Compliance of irac norms/ priority sector norms c. overseas regulatory requirements d. not to work around rules; but within rules e. compliance foreign exchange business with reference to FEMA and regulatory requirements. f. KYC/ARMl/FATF requirement 27) Carry out an annual compliance risk assessment in order to identify and assess major compliance risk faced by the bank and prepare a plan to manage the risks. 28) The annual review should broadly cover the following aspects. i. Compliance failures, if any during the preceding year and consequential losses and regulatory action as also steps taken to avoid recurrence of the same. ii. List of all major regulatory guidelines issued during the preceding year and steps taken by the bank to ensure compliance. iii. Independence of compliance procedures and processes. iv. Scope of compliance procedures and processes. v. System of internal control to minimize compliance risk. vi. Compliance with fair practices codes and adherence to standards set by self regulatory bodies and accounting standards. Vii. Progress in rectification of significant deficiencies pointed out in the internal audit, statutory audit an RBI inspection reports and position of implementation of recommendations made therein. viii. Strategy for the next year including restructuring of compliance department, if necessary, posting/transfer/training of staff. ix. Ensure review of all policies. x. Compliance failures, if any during the preceding year and consequential losses and regulatory action as also steps taken to avoid recurrence of the same. 29) Ensure timely rectification of Risk Mitigation Plan (RMP) and its sustenance, prompt rectification of Risk Assessment Report observations with action plan to resolve the same in coordination with functional departments. 30) Monitoring and certifying the error free submission of Tranche data to RBI periodically by invoking rigorous verification mechanism and also test check Tranche III data submitted by the functional departments. 31) Ensure prompt reply/action taken report to the communications received from GOI/Regulator/VIPs. 32) Ensure preparation of curriculum for compliance training and imparting in each of the training programme conducted and training of compliance officers and compliance executives every year. 33) To decide on the presence of conflicts of interest in the business service or activity and maintain the register for the same. 34) Participate as an invitee for the Operational Risk management Committee, Credit Risk Management Committee, Asset Liability Management Committee, New Product Approval Committee, Risk management Committee of the Board, Audit Committee of the Board. Interested candidates can apply or can reach me at 011-6606524, should you have any query. Smily Jindal

Bangalore

Chief Compliance Officer - Bank - Contractual Role 

Chief Compliance Officer - Bank - Contractual Role  ,Job Description for Chief Compliance Officer - Bank - Contractual Role  in IKYA Human Capital Solutions in  Bangalore for (15-28) years of experience. Apply Now!

Job Description for Chief Compliance Officer - Bank - Contractual Role  in IKYA Human Capital Solutions in  Bangalore for (15-28) years of experience. Apply Now!