Director - Local Regulatory Compliance - BFS

The Purpose of Your Role :

Director - LRC will manage the Local Regulatory Compliance function in India and provide a comprehensive and a holistic oversight/view of Local Regulatory Compliance to applicable Business Functions. This position will serve as an extension to functions aligned and provide oversight and governance support by engaging with function owners. Compliance assessment and testing will be performed on a planned basis.

The Value You Deliver :

Proper Regulatory Compliance management implies control of possible future events and is proactive rather than reactive. This role will help achieve strategic goals through the process of identifying, measuring, and treating exposures to loss and potential compliance risk events.

Responsibilities include and are not limited to:

- Empower the team's success by developing a well thought out governance plan and process

- Manage the Roll-out of Regulatory Changes to applicable laws, rules and regulations for the organisation.

- Effectively manage the timely identification of regulatory change alerts

- Designing oversight reporting for the identification of Regulatory Change and tracking the compliance status

- Acts as an escalation point for regulatory changes

- Partners with External consultants/ internal stakeholders on Regulatory Changes to ensure regulatory changes are added within the system of record.

- Drive integration with Compliance teams aligned to Business Units

- Ensure adherence to Compliance standards, review any material changes to the Compliance requirements

- Implement integrated Compliance Risk oversight to actively discuss compliance risks and create reporting, escalation, and various governance routines

- Periodic aggregate reporting to various key stakeholders

- Supports initiatives and Enterprise wide Projects for the Risk group, tracking of project deliverables and tasks with a high degree of understanding of highly complex processes and systems and their interdependencies, and regulatory and internal control requirements

- Conducting deep dives into specific areas of focus based on Risk and Regulatory priorities

- Adept in performing legal and regulatory reviews to the laws of the country in which we do business

- Proficiency in reviewing and assessing process flows to detect potential risks, deficient controls, duplicated effort, extravagance, fraud, noncompliance with laws, regulations, and management policies

- BFSI Compliance experience, or equivalent in Risk Management, Controls and Regulations. Extensive experience in multiple domains of Banking Regulatory Compliance across LOBs and functions

- Seasoned Regulatory Compliance SME with sound understanding of regulatory landscape.

- Analytical skills and ability to breakdown regulations and assess impact.

- Ability to groom team members to develop SME skills in the Regulatory Compliance domain. Provide Advisory support to key senior stakeholders on Compliance requirements across functions HR, Finance, Real Estate etc.

- Has good knowledge of applicable local regulations and ability to perform impact analysis adeptly to changes in regulations

- Reporting and documentation skills

- Stakeholder management