Chief Compliance & Risk Officer - BFSI

Job Responsibilities:-

Responsible for planning, leading and managing all activities of the compliance function across the bank; lead the design and implementation of an integrated compliance program for carrying out the business of the Bank in accordance with the regulatory framework and principles of good corporate governance.

To formulate and implement an enterprise-wide, integrated risk management policy governing the adoption and management of risks at the bank and ensure its compliance with the view of maximizing risk adjusted returns at the bank in a sustainable manner.

Strategic

1. Lead the formulation of the Compliance and Risk Department's strategy and strategic objectives ensuring alignment to the corporate strategy; monitor the implementation of the strategy

2. Develop and oversee the implementation of policies, procedures and controls covering all areas of Compliance and Risk division activity ensuring that all relevant procedural/regulatory requirements are fulfilled and also promoting leading practices

3. Oversee the consolidation and recommend the Compliance and Risk division budget and monitor the budget to ensure adherence

Compliance

4. Assist the Board and Senior Management in monitoring and managing the compliance function

5. Maintain a relationship with the regulators and act as nodal point of contact between the Bank and the regulators

6. Report to the regulator on cash and suspicious transactions in the capacity of Principal Officer

7. Promptly report instances of all material compliance failures and audit findings of the regulator which may attract a significant risk of legal or regulatory sanctions, financial loss or loss of reputation to the Senior Management and the Board / ACB

8. Participate in the Product Approval Committee which approves all new products / processes or changes in the existing products/ processes and participate various inter-departmental committees of the Bank

9. Update the regulator on the status of implementation of audit findings

10. Develop, maintain and implement the compliance policy and compliance framework within the Bank

11. Monitor activities of the Compliance Department, develop and implement risk mitigating measures including clear standards, procedures and guidelines to prevent, mitigate or minimize compliance risks

12. Provide the staff with sufficient resources, management support and the access required to prevent / detect compliance issues / breaches

13. React promptly with compliance issues/ breaches and involve the appropriate staff member whenever a compliance issue is detected/ suspected

14. Gather industry-wide intelligence on best practices by participating in various regulatory forums and discussion panels and analyse the applicability as per the Bank's requirement

Risk

15. Develop a comprehensive risk management framework for assessing, identifying, monitoring and reducing pertinent business risks that could interfere with the bank's objectives and goals

16. Implement the risk management (Credit, Operational, Market & Liquidity risks) frameworks and policies for the Bank

17. Assess and quantify impact of risks across every vertical (business and functional units)

18. Design and implement measures to minimize occurrence of identified risks and customize the same to adhere to regional requirements in each zone/ branch/ customer service point

19. Supervise and report on liquidity risk, interest rate risk in the banking book and other Pillar II risks as defined by the BASEL guidelines; independently apprise the Board on capital adequacy and results of stress testing

20. Oversee the processes and systems encompassing fraud control and information security

21. Oversee development of the credit policy in conjunction with Credit and Business and oversee its implementation across the Bank

22. Work with the business and recovery teams in co-designing the collections and recoveries strategy for the Bank, incorporating inputs from relevant heads of functions, and lay down the guidelines for the collections activities

23. Ensure that the Bank is in substantial compliance with its internal operating policies and procedures and any external regulatory, legal or contractual requirements

24. Regularly review appropriateness of the methodologies pertaining to Credit, Operational, Market and Liquidity risk and recommend suitable changes

25. Support business heads in increasing awareness of risk requirements through preparation of risk assessment manuals and effective dissemination of statutory and bank guidelines

26. Oversee periodic reviews of risk management guidelines to identify potential weaknesses and losses

27. Issue guidance notes/ advisories/ credit alerts on various aspects of risk from time to time

28. Interact with regulatory authorities and rating agencies to provide information as well as ensure adherence to guidelines

29. Perform portfolio monitoring to identify concentrations, outliers and stress testing to assess appropriate provisioning requirements

People

30. Ensure that the employees within the division maintain the highest standards of professional conduct, ethics, integrity, and control in execution of all their daily operations

31. Drive a performance driven culture in the team by timely monitoring, review of performance parameters and feedback to the team members

32. Take overall responsibility for identification of training needs and completion of mandatory training programs/certifications for self and reportees

33. Mentor and coach subordinates to develop the team's capabilities and build a robust succession pipeline

34. Ensure that the all the departments reporting to him/her are adequately staffed as per the manpower requirements

35. Ensure high level of employee engagement and retention of key performers

Qualification: Graduation in Finance or equivalent & PGDM/ MBA & CA