Compliance:Compliance Testing Team

About Compliance:

The Compliance department assists the Board and Top Management in managing the compliance risk, that is, the risk of legal or regulatory sanctions, financial loss or reputational loss that the Bank may suffer as a result of its failure to comply with the applicable laws, regulations or code of conduct applicable to banking activities. It ensures strict observance of all statutory provisions in various legislations such as Banking Regulation Act, Foreign Exchange Management Act, Prevention of Money Laundering Act, Reserve Bank of India Act, etc. as well as the regulatory guidelines issued from time to time, the standards and codes prescribed by BCSBI, FEDAI, FIMMDA, etc. and also the Bank’s internal policies and fair practice code.

About the Role:

The Compliance testing team is responsible for testing and evaluating the effectiveness of internal controls, policies, procedures, and processes designed to meet regulatory requirements and/or internal standards.

Key Responsibilities:

• Identify gaps/issues, if any and provide appropriate recommendation for remediation of gaps.
• Co-ordinate with process owners (business / support functions) for conducting and completing the testing, placing results with clear focus on the gaps
• Offer recommendations for appropriateness and adequacy, taking up with Compliance Officers for arranging timely redressal of the gaps
• Provide a unit wise risk overview on the basis of testing.

Qualifications:

Optimal qualification for success on the job is:

• MBA from a recognized institute
• AML Related courses / Programme certification is desirable
• Banking experience is desirable

Role Proficiencies:

For successful execution of the job, the candidate should possess the following:

• Good communication (both verbal and written) and inter-personal skills
• Strong Excel and database manipulation skills, financial and statistical analysis skills)
• Ability to manage risk and uncertainty for self and team within a dynamic priority-setting environment
• Ability to prioritize and make decisions in a fast-paced environment
• Ability to work as a part of team and contribute towards team goals
• Ability to manage multiple tasks/projects and deadlines simultaneously

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