Vice President - Compliance - Digital Banking

Job Role: VP-Compliance-Digital Banking

Location: Mumbai

About Compliance

The Compliance department is second line assurance function and provides effective assurance to the Board and Top Management in managing the compliance/Regulatory risk. It ensures adherence to various regulatory guidelines issued by financial Regulators. The compliance function advises stakeholders on various Regulatory obligations, conducts sufficient testing of controls and design framework and manages on-going Regulatory supervision.

Key Responsibilities

Regulatory Adherence / Implementation:

- Supervising dissemination of actionable emanating from new guidelines and ensuring implementation by the respective Business units of the Bank

- Strict monitoring through the systems/ tools available in the department of various issues relating to Digital Journeys

- Approval of any new/ review of existing Policy/ Internal circulars/ processes upon ensuring all regulatory/internal guidelines have been complied with.

- Handling of Advisory related to Compliance with Regulatory Guidelines on Digital Lending and other related guidelines.

- Connecting with regulators/ peer banks to seek clarification/ benchmark process followed in the bank (wherever required)

- Testing of regulations / processes/ controls when required.

- Providing relevant inputs for preparation of presentations / dashboards for senior management

- Co-ordinate with the respective stakeholder and ensure that proper controls are put in place to mitigate the compliance risk,

- Vetting of Bank's Policies, internal circulars, manuals, validation of forms from the compliance perspective, validating internal controls with various Codes (BCSBI, etc)

- Vetting of responses / compliance to be submitted to regulators / agencies provided by the business departments / stakeholders.

- Monitoring compliance risk using various tools (e.g. Key Compliance indicators, etc.)

- Testing Processes related to Observations/Regulatory line items of RBI and closure of Testing reports.

- Monitoring and tracking of Regulatory observations emanating from IAD/ CTG/ other sources,

- Approval and review of PMC/CMC notes in line with relevant applicable regulations /internal policies.

- Assisting RBI Compliance Team for onsite inspection (wherever required)