Fci:caro Team

FCI:CARO Team
INTERNAL USAGE:
No. of Vacancies: 1 Reports to: AVP
Is a Team leader? N Team Size: NA

Grade: SM/ M
Business: Department: FCI Sub-Department: DTM
Location: Mumbai (C002)
About
Financial Crime Intelligence (FCI) department has been created to enhance the Bank’s capabilities in prevention, detection and response to frauds against the Bank as well as our customers. This a centralized team that will focus on ensuring there is a strong feedback loop of learnings into improvement in practices, models and customer journeys, develop analytics and technological capabilities as a competitive advantage and deepen our focus on training to ensure fraud prevention at the frontline. With these objectives in mind, a new department ‘Financial Crime Intelligence’ has been created with the Fraud Control Unit (FCU) and Digital Transaction Monitoring (DTM) being housed under the FCI department to ensure greater synergies.
About the Role
The CARO SPOC team is responsible for support functions to the CARO SPOC for the FCI function. It includes coordination with various stakeholders within the department for activities such as monitoring of various financial reporting parameters, monitoring of Key Risk Indicators and Key Compliance Indicators, assessment of all Risks and associated control, timely and vetted response of regulatory/ statutory correspondence to Compliance Department for onward submission, facilitation of Operational Risk and Financial Risk walkthrough, Remediation of operational risk issues and control gaps and responses to audit observations. The role also involves working closely with the concurrent auditors appointed by the bank for DTM, assisting them in their work and addressing their queries.
Key Responsibilities
- Respond to ad-hoc data/ information requirement of regulatory authorities, investigative agencies, and other statutory bodies whin stipulated timelines.
- Coordination with various stakeholders across different departments to address voluminous data/ information requirement by RBI during the RBS audit as well as during preparation of bank’s responses to RAR observations and for concurrent auditors.
- Closure of correspondences raised by Compliance in the CAMS (tracking platform) to monitor completion of actionable on such correspondences.
- Automation/Digitization to address process efficiency, enable automated reporting, address audit remarks, and address supervisory concerns.
- Timely closure of open issues in EGRC through implementation of regulatory guidelines / actionable disseminated by Compliance Department, Operational Risk Department
- Periodic reviews of processes documented in EGRC and consequent updation of existing processes or documentation of new processes, as and when required.
- Facilitate walkthrough / Risk and Control Self Assessments (RCSA) by Operational Risk Department / Financial Risk, ensuring proper actioning and reporting for issues identified during walkthroughs, testing, as per prescribed checklist, and ensure timely closure of gaps identified during walkthrough, etc.
- Remediation of operational risk issues through identification of new risks and designing effective controls as part of various risk assessments and updating the same in the Risk Control Matrix in EGRC. Identification of process gaps if any leading to risk concerns and implementation of enhanced controls to address the gaps. Analysis and dissemination of high-risk concerns to all key stakeholders, follow-up on compliance
- Updation of Key Risk Indicators monitored by Operational Risk for both domestic and overseas business and Key Compliance Indicators monitored by Compliance in EGRC and ensuring appropriate action for KRIs and KCIs which are not in acceptable state
- Preparation of weekly dashboards to provide status of RMP parameters such as review/ renewals, internal rating, EWS and RFA triggers, pending security creation, etc. and ensure nil pendency through regular follow up with RMs/ Analysts
- Timely closure of RAR observations/ thematic audit observations/ Compliance testing, providing Management Action Plan (MAP) for closure of the observations, and implementation of MAP through process improvisation/ policy modifications/ issuance of circulars/ advisory through mails.
- Preparation of various MIS required for addressing queries from regulators or government ministries.
- Ensure that reviews and other actionable as specified in the Corporate Credit Policy are completed within the stipulated timelines and as per the specifies frequency (quarterly/ half-yearly/ yearly)

**Qualifications**:
Optimal qualification for success on the job is:

- MBA (Finance) from a recognized institute

Role Proficiencies:

- In-depth knowledge of key drivers and indicators in the relevant sectors
- A solid understanding of financial statements, ratios
- Understanding of compliance and regulatory norms
- Good relationship management and strong communication and presentation skill