Senior Regulatory Reporting Specialist

Job Opportunity

This is a challenging role that requires an experienced Regulatory Reporting professional to ensure adherence to regulatory standards.

• Conduct comprehensive product audits and compliance checks to verify adherence to regulatory requirements.
• Monitor and implement daily regulatory compliance obligations.
• Develop and maintain robust internal control frameworks for banking products.
• Implement and track regulatory circulars, focusing on KYC-related guidelines.
• Prepare and submit regulatory reports according to jurisdictional guidelines.
• Review, validate, and reconcile data sources used for regulatory reporting, ensuring accuracy and completeness.
• Conduct regular reviews to ensure customer onboarding and lifecycle management processes align with regulatory standards.
• Collaborate with internal teams, including Finance, Risk, and Compliance, to gather data and ensure accuracy in reports.
• Maintain strong documentation and audit trails for all submissions.
• Support data submissions to compliance, internal audit teams, and regulators.
• Leverage data analytics for insights, ensuring proficiency in data extraction, manipulation, and reporting.
• Assist in the implementation of new regulatory reporting requirements and upgrades to reporting systems.

The incumbent will act as a catalyst for managing entire control management across the entity's lifecycle (onboarding, post-modifications, and closure) of entities identified by the bank's Standard Operating Procedure (SoP) for performance of any onboarding-related consequence management or control actions.

The incumbent is expected to be well-versed with existing 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 must 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.

• In-depth knowledge of KYC regulations and related circulars.

• Strong understanding of banking product lifecycles and customer onboarding processes.

Deliverables

• Updation of SoPs basis guidelines and compliances laid by Regulator(s) (like RBI, UIDAI, CERSAI etc.) with respect to Manual Onboarding Operations.
• 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.
• Ensure Clean Compliance and reporting, nil Audit observations, Process adherence from the team as per SoP and Way-of-Working.
• 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 as 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.

Educational Level

• 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