Position Purpose
The Head of the Regulatory Desk in Compliance supports the Territory Chief Compliance Officer on ensuring local regulatory requirements are met including
Partnership with Business & Compliance Domain Heads: Partner and collaborating closely with the Compliance Domain Heads to provide SME support on regulatory topics related to the respective domain in order to support clients business strategy and growth whilst ensuring internal policies and regulatory requirements are fulfilled.
Transformation & Industrialisation: Own and manage Regulatory responsibilities for the Bank including related systems / utilities managing deployment and monitoring and actively look for opportunities to enhance/industralise the Compliance operational framework.
Active Supervisory Engagement & Risk Management plan and facilitate regular/periodic engagement with regulators by Compliance CEO and relevant business heads (as needed) to ensure adherence to regulatory expectations and continue advocacy efforts to help protect the Bank/Group franchise from existing and emerging Compliance risks. Act as primary SPOC for all inspections and queries
Direct Responsibilities
Partnership with Business & Compliance Domain Heads:
- Assist with Regulatory Advisory to Business and Functions
- Provide transversal regulatory watch and monitoring of regulatory evolutions that have an impact of the business or operations activities within the Bank/Territory and follow the general principles (the Regulatory Watch Best Practices) of the regulatory watch process. These include but not limited to (i) identification (and update where needed) of appropriate regulatory watch sources; (ii) having a process in place for regular monitoring of such sources; (iii) communication on relevant regulatory watch developments to all necessary stakeholders.
- Local Compliance Regulatory Office acts as local text identification leaders (Leader) for Compliance and can be assisted by potential contributors (local or regional such as Regional Compliance domains who can contribute to high level impact assessment and determination of concerned operating entities).
- Partner and collaborate closely with the Compliance Domain Heads to provide SME support on regulatory topics and ensure relevant circulars/guidelines/advisories related to their respective domain are duly discussed and understood
Regulatory/ Supervisory & Industry Engagement:
- Build strong working relationships at the relevant levels across regulators RBI SEBI other Banking industrial bodies / quasiregulators such as IBA FEDAI FIMMDA etc.
- Maintain an annual calendar of regulatory meetings for Compliance to support advocacy and supervisory engagement efforts and ensure meetings duly logged and any action items followedup on and closed.
- The Head of Regulatory Desk will also be required to attend meetings with Regulators Quasiregulators and Banking industrial bodies from time to time
- Connect with industry forums and other Banks compliance officers to better understand industry trends peer practice on management of existing Compliance risks and assessment of emerging risks.
Regulatory & Internal Reporting:
- Ensure tracking monitoring and validating where required of submission of various returns / data to Regulators including Tranche I II and III under Risk Based Supervision of RBI.
- Provide guidance on and manage timely reporting to HO / Region / Local (RBI/SEBI etc.) correspondence with Regulators / HO / Region MIS / reporting to Regulators.
Governance
- Operate APAC Territory Compliance Committees (TCC) or any other Cross function committee (such as Bank Compliance Committee BCC) to cover key regulatory watch topics and to decide on appropriate measures to be taken (e.g. launch of regulatory projects) and to monitor their implementation.
- Conducting and participating in various statutorily required committee meetings including coordinating MANCO as meeting secretary.
- Review of and participation in TAC / NAC proposals
Ensure adherence to AML / FSrelated Group policies/ local regulations and execution of associated controls (if any) and to promptly escalate any resulting assessment to the relevant authority / central FS team for necessary action being control function 2LOD.
Act as a backup to roles suggested and support in other areas of Compliance activities as assigned by CCO
Assist Head of Compliance in special assignments / projects
Required:
- High level knowledge of various regulatory guidelines under Banking Regulation Acts RBI FEMA & SEBI guidelines
- Experience on independent handling of regulatory/internal reports dissemination of notifications
- Knowledge on AML & KYC related regulations and guidelines Financial Security
- High level of knowledge of various regulatory guidelines under the Banking Regulation Act RBI FEDAI FIMMDA & SEBI guidelines
- Expertise in either Banking and/or Global market & ALMT regulations and products would be an advantage.
Education Level: Master Degree or equivalent (>4 years)
Experience Level: At least 12 years
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