Compliance Testing Lead

ROLE SUMMARY

The role holder is responsible for ensuring that Compliance Testing are conducted in line with Annual Compliance Testing Plan approved by Audit Committee of the Board (ACB).

KEY RESPONSIBILITIES/ ACCOUNTABILITIES

Strategic/ Managerial Responsibilities

Designing, delivering, and maintaining best-in-class Compliance practices; Managing a team of Compliance professionals; Preparation and implementation of Compliance Testing Plan.

Core Responsibilities

Preparation of Compliance Testing plan.

Managing the Compliance Testing Team to ensure that the compliance reviews are completed as per the approved Compliance Testing Plan.

Finalization of compliance testing scope , ensuring sample selection in line with policy guidelines

Review of the Compliance Testing observation, Discussion with stakeholders and finalization of compliance testing report

Ensure proper documentation and working papers are maintained for all the compliance testing conducted.

Interact with the Senior & Top management of the Bank relating to activities pertaining to Compliance Testing

Ensuring timely closure of open issue, regular follow up with stakeholder and publishing of MIS to Top Management

Preparation of ACB Note on Compliance Testing Report and Compliance Testing Open Points

People Management or Self-Management Responsibilities

Need to interact with middle/senior management of Business Unit/ Product Team/ Operation Unit

Keeps abreast of relevant professional/industry developments, new techniques and current issues through continued education and professional networks.

Risk and Internal Control Responsibilities

Ensuring completion of Compliance Testing Plan.

Ensuring updation of Compliance Risk Register .

KEY INTERACTIONS

Key Internal Interactions

Purpose of Interaction

Business Unit / Product Team and Central Compliance Team

Interacting with various units within the Bank for discussion / finalization of Compliance Testing Report.

Key External Interactions

Purpose of Interaction

Regulators

Other Banks

KNOWLEDGE & EXPERIENCE

KNOWLEDGE

Minimum Qualifications

CA/CS

Professional Certifications

N/A

Language Skills

Written and spoken English is essential.

EXPERIENCE

Years of Experience

A minimum of 12 years of relevant experience.

Nature of

Experience

Prior experience in a Compliance Testing / Internal Audit witH a Bank/Top NBFCs

COMPETENCIES & KEY PERFORMANCE INDICATORS

BEHAVIORAL COMPETENCIES

Core Competencies

Competency Name

Behaviors

• Customer Focus

• Champions establishment of customer need assessment processes and incorporating their feedback to deliver tailored solutions

• Conceives new means of delivering customer value and acts as a trusted advisor to existing customers

• Fosters an environment of solution mindset by institutionalizing processes, providing opportunities and incentivizing people

• Professional Entrepreneurship

• Fosters initiative and calculated risk taking, keeping in mind long-term goals by leading through examples, and creating systems supporting the same

• Fosters and establishes a culture of high sense of accountability and ownership across the Bank, by leading through examples, and creating systems that promote individual and team accountability

• Drive for Results

• Establishes a culture of effective decision-making, leading by example in strategic decisions that have a long-term impact on the success/ failure of the organization

• Fosters a culture of bias for action and urgency in which employees feel self-motivated to deliver on stretch goals

• Drives a culture of perseverance and pushing through challenges by leading by example and consistently communicating the same

• Influence and Impact

• Leverages flexible styles/ sources of influence to gain internal and external credibility, and achieve success

• Establishes a culture of partnership building through transparency and integrity and leverages strategic relationships to develop mutually beneficial opportunities

• Quality Focus

• Fosters a culture of quality focus in the organization by establishing systems/ processes and encouraging, rewarding the right behaviors

• Fosters a culture of continuous process improvement and makes balanced investments in the right resources (technology/people) for enhancing efficiency and productivity

Leadership Competencies

Competency Name

On Behaviors

• Lead the way

• Displays the ability to assimilate information to understand external environment/competitive landscape/risks etc. to identify challenges and opportunities in the long run

• Articulates vision for the Bank to achieve the objectives of growth and scale while ensuring highest levels of quality
• Identifies and champions new approaches for improving organizational results

• Defines a common language for Bank with respect to its vision, mission and values and develops systems to communicate these in a structured manner

• Lead and Develop people

• Fosters a performance oriented culture by setting objectives, monitoring performance, providing measurement systems, driving accountability and rewarding high performance

• Fosters a culture of empowerment and delegation by institutionalizing processes, providing resources, authority and incentives for making good decisions

• Builds an organizational culture of developing capabilities through the right mix of developmental opportunities, mentoring and coaching

• Enables Change

• Leads by example by openness to and enthusiasm for new initiatives and process improvements and creates a compelling business case for organizational change

• Outlines a vision of the desired state through a process of discussion and achieves necessary buy-in for the change
• Manages complexity and change resistance with continuous communication and contact with people

TECHNICAL COMPETENCIES

Technical Competencies

• Strong communication skills (Written and verbal)
• Expert knowledge of bank audit procedures.
• Sound product knowledge of all other areas of banking including regulatory requirements.