Looking for an incumbent to head the compliance for a retail lending business with one of the largest conglomerate.

Job Context:

The Head - Compliance is responsible for establishing standards and implementing procedures to ensure that the compliance processes throughout the organization are effective and efficient in adhering to the local regulator's guidelines and ensuring corrective measures are taken where non-compliances with regulatory guidelines have been identified.

Reporting to the Chief Compliance Officer and working closely with the Risk and Legal organizations and various support and business functions, the incumbent should be able to provide strategic direction to the senior management team for all regulatory issues and develop understanding of the compliance imperatives across the business.

This role will be tasked with assessing, approving and recommending policies and procedures for ensuring internal controls and also lead all audits and reviews by the Regulator.

Role:

Provide direction on regulatory compliance issues.

- Define the necessary level of knowledge on existing and emerging regulatory compliance requirements across the organization.

- Provide guidance, advice and clarification to internal stakeholders on regulatory. queries/requirements.

- Be part of the Products/Processes Approval Committee (PAC) for reviewing all products notes/processes and procedures from a compliance perspective.

- Define and oversee all compliance processes and procedures.

- Develop and approve compliance policies and procedures and guidelines working in close consultation with the Chief Compliance Officer.

- Disseminate regulatory guidelines as issued by the regulator to internal stakeholders and track implementation / changes in existing processes/procedures.

- Be the single point of contact for the regulator (RBI) for all regulatory correspondences and managing the same.

- Monitoring for Know Your Customer (KYC) and Anti-Money Laundering (AML) and filing reports with Financial Intelligence Unit-IND.

- Responsible for the implementation of the Prohibition of Insider Trading Policy.

- Prepare submissions to the Board/Audit Committee.

- Implement a robust regulatory change management process.

- Oversight on compliance testing framework, ensuring robust compliance testing, reporting (MIS) and addressing compliance testing observations.

- Lead regulatory reviews.

- Be the Central Co-ordinator for any regulatory inspections; handling the pre/post inspection related activities.

- All inspection related correspondences handled by the Compliance Unit.

- Coordinate with internal stakeholders for collation of data/information/documents as required by regulatory inspection teams.

- Coordinating with all stakeholders for the preparation of responses to regulatory inspection observations and review/validate the same.

- Ensure implementation of actions plans prepared for all the regulatory observations including inspection observations, directions and advises.

- Liaise with internal audit teams and external auditors on compliance issues.

- Ensure timely escalation and mitigation of significant regulatory/compliance issues.

People management and culture-building.

- Enable a risk-driven approach to compliance.

- Oversee the implementation of compliance training programs like refresher training on KYC/AML, in particular.

- Provide oversight and be a coach and mentor for the compliance function.

- Ensure regular functional & behavioral trainings of team members in collaboration with HR.

- Participate in relevant talent management and people development activities to ensure a. healthy compliance function pipeline and an engaged team.

- Supporting Chief Compliance Officer in managing compliance risk.