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Bajaj FinservEmployer profile

Deputy National Lead - Compliance

Location not specified · 10–13 yrs

Experience
10–13 yrs
Salary
Not disclosed
Location
Location not specified
Work mode
Not specified
Job type
Full-time
Apply by
Closing date not listed
Posted
14 Mar 17

About this role

Job Purpose

Compliance testing Lead a team for Compliance testing of various products and processes. Develop a compliance testing plan, determine scope & testing methodology, lead a team for execution, discuss & obtain responses with action plan and present the results to Senior Management.

Duties And Responsibilities

Compliance testing and product reviews

Compliance Function plays a central role in identifying the level of Compliance risk in the organisation. The compliance function comprises of Regulatory correspondence team, Advisory team and Compliance Monitoring & Testing (CMT) team.

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

Key Responsibilities

  •  Build an annual plan for Compliance testing reviews of various products and processes considering regulatory risks and feedback from Senior Management.
  •  Develop testing procedures and train the team to carry out such procedures.
  •  Determine scope and lead a team to perform compliance testing.
  •  Discuss the results with Business Heads and provide recommendations as necessary
  •  Obtain responses with action plan and timelines.
  •  Present the results to Senior Management.
  •  Track actionables for appropriate closure.
  •  Expert in leading a high performing team of compliance testing manager


Key Decisions / Dimensions

  •  Specific area prioritization during field work in terms of what areas to focus on and what testing approach to be used.
  •  Deciding the approach for case analysis; what sample size to take and how to analyse the data.


Major Challenges

  •  BFL is a fast-paced growing organization with almost 90 + products. The business processes are changing at a very fast pace, so it is important to keep oneself updated and in fact, try to think ahead of the business.
  •  The compliance requirements are complex and ever evolving hence the need for constant learning and keeping updated of industry developments


Educational Qualifications

Required Qualifications and Experience

  •  10-13 years of experience in Banking and Financial services industry
  •  Strong domain knowledge of RBI requirements related to retail assets, liabilities, payments, etc in BFSI sector is required


Work Experience

  •  Candidate is expected to have know-how of regulatory requirements specifically from RBI
  •  Candidate is expected to have know-how of KYC, AML and Outsourcing Arrangements
  •  Work jointly with a dynamic team of professionals having diversified experience CAs/ MBAs
  •  With various BFL business initiatives candidate need to have agility to adopt to new changes


Leadership

  •  Demonstrate leadership, negotiation, communication and compliance management skills in order to handle CMT team activities and engage with Senior Management.
  •  Develop rapport with Business teams for adding value through compliance recommendations.
  •  Bring new knowledge on board and keep updated with rapidly changing business environment.
  •  Constantly challenge status quo for bringing value addition.

Skills

Finance and Sales
Deputy National Lead - ComplianceNot disclosed