Compliance Specialist

This position requires a detail-oriented and experienced professional to oversee comprehensive product audits and compliance checks, ensuring adherence to regulatory standards.

1. Conduct regular product audits to identify potential compliance issues and implement corrective actions as needed.
2. Develop and maintain robust internal control frameworks for banking products, ensuring accuracy and completeness of data.
3. Monitor and track daily regulatory compliance requirements, identifying areas for improvement and implementing process enhancements.
4. Prepare and submit regulatory reports as per jurisdictional guidelines, collaborating with internal teams including Finance, Risk, and Compliance.
5. Review, validate, and reconcile data sources used for regulatory reporting, ensuring accuracy and completeness.
6. Collaborate with internal teams to gather data and ensure accuracy in reports, maintaining strong documentation and audit trails for all submissions.
7. Support in data submissions to compliance, internal audit teams, and regulators, leveraging data analytics for insights and proficiency in data extraction, manipulation, and reporting.

The incumbent will act as a catalyst for management of the Entire Control management across the entity Life-cycle (Onboarding, post-Modifications, and Closure) of entities identified by the bank's Standard Operating Procedure (SoP).

The Incumbent is expected to be well-versed with the extant norms, guidelines of various regulatory bodies such as RBI, UIDAI, CERSAI, NeSL, CRILIC, Ministry of Corporate Affairs, and all relevant URLs, Sites in the Corporate/ mSME/ Non-Individual domain.

The Incumbent has to provide thought leadership and process improvement initiatives by demonstrating Control across Audit observations, good performance across RISK scorecards and ensure Compliance for reporting to relevant external and Internal authorities and control functions.

1. Updation of SoPs basis guidelines and compliances laid by Regulator(s) (like RBI, UIDAI, CERSAI etc.) with respect to Manual Onboarding Operations.
2. Periodic Onboarding Due Diligence – Such as Creation / Management / Closure, of Accounts, Name Screening for Individual and Non-Individual entities (including BCs and BC Agents), and Individuals as Authorized Signatories of these entities.
3. Ensure Clean Compliance and reporting, nil Audit observations, Process adherence from the team as per SoP and Way-of-Working.
4. Interacting with team(s) like Product, IT, CBS, CX, Risk, Audit, Compliance, Internal Control (Control Functions).

Primary: Must have working experience in Banks for KYC / AML Onboarding and Management of Control tasks such Name Screening, Risk profile based Customer CDD / EDD, Consequence Management action and process enhancement.

Shared: Reporting, analysis, and operations across processes ranging from Individual Customer to Non-Individual Customer and Retailer/Distributor verticals.

Contributory: Process improvement in regulatory reporting's, Inputs to business basis Control team inputs.

• Graduate/Post-Graduate
• Understanding of KYC guidelines, Analysis Skill, good Skill set on MS office & SQL

Understanding of Name Screening KYC /AML activities. Deep understanding of RBI guidelines and Regulatory Reporting.