Assistant Vice President Compliance

Job Purpose

• Support the Head of Compliance & Bank MLRO in managing overall Compliance Management Program for India in line with the regulatory requirement and Group Compliance Policies
• Manage the regulatory inspections (on-site/off-site) under Risk Based Supervision; interaction with regulatory officials to ensure the expected delivery from the Bank
• Pro-active and prompt escalation of any compliance issues to the Country Management & Head Office from governance perspective
• Develop and maintain awareness/knowledge of applicable regulations notified by Reserve Bank of India to ensure adherence.
• Conduct Compliance Risk Assessment (CRA) annually to evaluate underlying residual risks from compliance perspective in each domain
• Independent management of data/indent requests from RBI to ensure regulatory requirements are met by engaging with relevant stakeholders; Ensure timely submission of compliance related reporting / returns to the regulator
• Financial Crime Risk Assessment (FCRA) in consultation with Head Office as per Group Compliance Policy Framework
• Conduct Compliance Monitoring Reviews quarterly as per annual plan approved by the Head Office and publish the reports to stakeholders and management along with agreed remediation plan
• AML Transaction monitoring: reporting to the FIU-IND as required
• Sanctions Screening – Customers / Transactions (Trade and Payments)
• Conducting compliance training for branch stakeholders to provide refresher sessions on key regulatory areas
• Manage ad-hoc automation projects as may be required for various compliance related data
• Liaison with internal audit

Key Result Areas

• Assist the Head of Compliance & Bank MLRO in garnering a strong compliance driven culture/environment within Business Groups/Divisions
• Maintain ongoing awareness/current knowledge of all applicable internal/external compliance requirements and existing/emerging legal/statutory/regulatory environment – identifying any issues that could impact the bank
• Monitor and disseminate applicable regulatory guidelines / updates to various stakeholders in the Bank for necessary action
• Assist the Head of Compliance & Bank MLRO in ensuring Bank's compliance procedures/policies remain updated and compliant with the applicable regulations
• Maintain a pro-active relationship with business, facilitating timely involvement to ensure compliant/workable solutions to business issues
• Maintain country addendums as applicable for the group policies in line with the applicable local regulations; ensure the governance and documentation aspects with reference to deviations / exceptions, if any
• Review transaction monitoring alerts within the stipulated timelines, conduct enhanced due diligence of suspicious transaction / unusual activities and assist the Bank MLRO in reporting to the FIU-IND as and when required
• Periodic review of AML alerts thresholds and scenarios and ongoing mapping of transactions codes, account class, country risk updates in the transaction monitoring system
• Review of transactional and customer alerts from Sanction perspective and ensure that the relationships / transactions with the entities in the negative lists are blocked and/or dealt as per internal policies / regulatory requirements
• Conduct compliance monitoring reviews as per annual plan to identify compliance issues if any and issue reports to the stakeholders and update the management on key issues and remediation plans along with status
• Conduct annual exercise of Compliance Risk Assessment in collaboration with all functions in the Bank to evaluate underlying residual risks from compliance perspective in each domain; Conduct annual exercise of Financial Crime Risk Assessment (FCRA) in consultation with the Head Office as per Group Policy Framework
• Develop and impart Compliance, KYC and Sanctions related training programs to all business group staff on an ongoing basis to raise awareness and ensure all staff understand their responsibilities/obligations
• Providing support to other compliance staff members in their respective areas as and when required.
• Provide timely reports / updates to Head Office (IBG Compliance) on various requirements on monthly/quarterly basis or any other specific requirement as and when required
• Ensure to submit all the regulatory submissions related Compliance are submitted to RBI on timely basis and the submission is in line with the regulatory expectation; actively engage with other functions to consolidate the compliance related data as per requirement
• Assist the Bank MLRO and provide seamless support for identification and prompt escalation of any critical issues pertaining to regulatory / anti-financial crime domain
• Collaborate with other functions and Technology regarding the compliance related automation projects/UATs as and when required and ensure that they are successfully completed within the required time frame

Knowledge, Skills and Experience

• 15-18 years of strong experience in banking compliance preferably in AML/Sanctions Compliance
• Professional degree / qualification in business / commerce / economics / law.
• Thorough understanding and experience related to regulatory compliance domain related to foreign banks operating as branch in India
• Ability to comprehend and provide strategic solution for compliance related matters.