Bajaj FinservEmployer profile
Lead - Compliance/Senior Lead - Compliance
Location not specified · 8–10 yrs
Experience- 8–10 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 PurposeKYC & outsourcing Team- Lead a team for KYC & Outsourcing compliance related requirements of various products and processes. Develop an evalution 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 Horizontal Compliance Framework Specialist will play a key role in designing, implementing, and managing a comprehensive compliance framework across Know Your Customer (KYC), Anti-Money Laundering (AML), and Outsourcing Arrangements. The role focuses on ensuring that compliance protocols are standardized, scalable, and effectively integrated across the organization, mitigating risks and ensuring adherence to regulatory standards.
Key Responsibilities
- Know Your Customer (KYC) / Anti-Money Laundering (AML) Compliance
o Regularly review and update KYC protocols based on evolving regulatory requirements.
o Review AML controls, including transaction monitoring, name screening, and risk categorisation.
o Stay updated with relevant laws and regulations (e.g., FATF, RBI regulatory requirements) and ensure that the framework complies with industry standards.
- Outsourcing Arrangements Compliance
o Review risk categorization of outsourced services and monitor ongoing compliance through regular reviews.
o Ensure adherence to contractual obligations and regulatory requirements in outsourcing agreements.
- Monitoring, Reviewing, and Reporting
o Prepare and present compliance reports to senior management.
- Lead a high Performing Team
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.
- 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
Required Qualifications and Experience
- 8-10 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
- 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
- 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.