The Compliance and Risk Officer

4 weeks ago

Navi Mumbai Mumbai City Mumbai, India Skillventory Full time
Job Description

We are seeking a The Compliance and Risk Officer - CARO (Retail Lending) to ensure a strong risk and compliance culture within the Retail Portfolio Management Group. You will be responsible for formulating responses to RBI audit observations, designing new processes to address control gaps, and monitoring key risk indicators. This role requires a professional with deep knowledge of retail credit, collections, and compliance, as well as the ability to coordinate with cross-functional departments and provide regular updates to senior management.

Roles & Responsibilities:

- Regulatory Compliance & Audits: Respond to RBI queries during annual RBS audits and other regulatory inspections. Coordinate all activities related to these inspections, including data submission and departmental representation. Formulate responses to RAR observations from the RBI.
- Process & Control Management: Keep abreast of regulatory changes, disseminate them, and ensure implementation in line with committed timelines. Design new processes and controls to address gaps highlighted by Operational Risk and Internal Audit. Review policies related to Retail Lending and Collections to ensure alignment with regulatory guidelines.
- Risk Monitoring & Mitigation: Supervise the monitoring of Key Risk Indicators (KRIs) and Key Compliance Indicators (KCIs). Monitor various parameters such as review/renewals, internal ratings, and EWS/RFA triggers. Provide regular updates to senior management on the status of the Risk Mitigation Plan advised by the RBI.
- Reporting & Coordination: Ensure timely and vetted responses to regulatory correspondence. Facilitate walk-throughs for Operational and Financial Risk. Coordinate with cross-functional departments such as Operational Risk, Compliance, Credit Risk, and CBO.

Skills Required:

- In-depth knowledge of key drivers and indicators in relevant sectors.
- A solid understanding of financial statements and ratios.
- Strong understanding of compliance, regulatory norms, and operating procedures.
- Proven experience in banking, specifically in Retail Credit, Collections, Compliance, or Internal Audit.
- Good relationship management and strong communication and presentation skills.

QUALIFICATION:

- CA or MBA from a Tier 1 institute.

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