Regulatory Operations Expert

The Regulatory Operations Specialist is responsible for ensuring compliance with regulatory standards in our organization. This includes preparing, reviewing, and submitting timely and accurate regulatory reports to relevant authorities.

The ideal candidate will have a strong background in banking and possess relevant regulatory knowledge. They will be responsible for conducting comprehensive product audits and compliance checks, monitoring and implementing daily regulatory compliance requirements, developing and maintaining robust internal control frameworks, and implementing and tracking regulatory circulars.

1. Conduct Product Audits: Conduct comprehensive product audits and compliance checks to ensure adherence to regulatory standards.
2. Monitor Compliance: Monitor and implement daily regulatory compliance requirements.
3. Develop Internal Controls: Develop and maintain robust internal control frameworks for banking products.
4. Implement Circulars: Implement and track regulatory circulars, with a specific focus on KYC-related guidelines.
5. Prepare Reports: Prepare and submit regulatory reports as per jurisdictional guidelines.
6. Validate Data: Review, validate, and reconcile data sources used for regulatory reporting, ensuring accuracy and completeness.
7. Review Processes: Conduct periodic reviews to ensure customer onboarding and lifecycle management processes align with regulatory standards.
8. Collaborate Teams: Collaborate with internal teams including Finance, Risk, and Compliance to gather data and ensure accuracy in reports.
9. Maintain Documentation: Maintain strong documentation and audit trails for all submissions.
10. Support Submissions: Support in data submissions to compliance, internal audit teams, and regulators.
11. Analyze Data: Leverage data analytics for insights, ensuring proficiency in data extraction, manipulation, and reporting.
12. Implement Reporting Requirements: Assist in the implementation of new regulatory reporting requirements and upgrades to reporting systems.

The incumbent is expected to act as a catalyst for the management of the entire control life-cycle across the entity, from onboarding to post-modifications and closure. The incumbent is also expected to provide thought leadership and process improvement initiatives by demonstrating control across audit observations, good performance across risk scorecards, and ensuring compliance for reporting to relevant external and internal authorities and control functions.

Requirements:

• Knowledge of Regulations: In-depth knowledge of KYC regulations and related circulars.
• Understanding of Banking Products: Strong understanding of banking product lifecycles and customer onboarding processes.
• Skills and Qualifications: Other online-based certifications for name screening.

Benefits:

• Updation of SOPs: Updation of SOPs basis guidelines and compliances laid by Regulator(s) (like RBI, UIDAI, CERSAI etc.) with respect to Manual Onboarding Operations.
• Onboarding Due Diligence: 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.
• Clean Compliance and Reporting: Ensure Clean Compliance and reporting , nil Audit observations , Process adherence from the team as per SoP and Way-of-Working
• Interacting with Teams: Interacting with team(s) like Product, IT, CBS, CX, Risk , Audit, Compliance, Internal Control (Control Functions).

Decision Level:

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.

Education: Graduate/Post-Graduate

Analysis Skill: Understanding of KYC guidelines , Analysis Skill, goodSkill set on MS office & SQL

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