Lead - Compliance/Senior Lead - Compliance

Location Name: Pune Corporate Office - PTP

Job Purpose

Compliance testing Perform Compliance testing of various products and processes. Determine scope & testing methodology in line with the Compliance testing plan, perform testing, discuss & obtain responses with action plan and present the results to Senior Management.

Duties And Responsibilities

Compliance testing and product reviews

Compliance Function plays a central role in identifying the level of Compliance risk in the organization. The compliance function comprises of Regulatory correspondence team, Advisory team and Compliance Monitoring & Testing (CMT) team. The incumbent will be part of the CMT team performing Compliance testing for various products and processes.

The CMT team is responsible for testing and evaluating the effectiveness of internal controls, policies, procedures, and processes designed to meet regulatory requirements.

Key Responsibilities

•  Build an annual plan for Compliance testing reviews of various products and processes considering regulatory risks and feedback from Senior Management.
•  Develop testing procedures and train the team to carry out such procedures.
•  Determine scope and lead a team to perform compliance testing for various products and processes.
•  Conduct walkthrough, understand the regulatory requirements and BFL processes to meet those requirements, accordingly, develop testing procedures.
•  Discuss the results with Business Heads and provide recommendations as necessary
•  Obtain responses with action plan and timelines.
•  Prepare detailed reports on findings and recommendations.
•  Present the results to Senior Management.
•  Track actionables for appropriate closure.
  
  
  

Key Decisions / Dimensions

•  Specific area prioritization during field work in terms of what areas to focus on and what testing approach to be used.
•  Deciding the approach for data analysis; what sample size to take and how to analyse the data.
  
  
  

Major Challenges

•  BFL is a fast-paced growing organization with multiple business lines and product families. The business processes are changing at a very fast pace, so it is important to keep oneself updated and in fact, try to think ahead of the business.
•  The compliance requirements are complex and ever evolving hence the need for constant learning and keeping updated of industry developments.
  
  
  

Educational Qualifications

Required Qualifications and Experience

•  CA with 8 to 10 years of experience.
•  Strong domain knowledge of RBI requirements related to retail assets, liabilities, payments, etc in BFSI sector is required
  
  
  

Work Experience

•  Candidate is expected to have expertise in understanding of regulatory requirements specifically from RBI
•  Candidate is expected to have a strong background of working in Internal Audit or Compliance teams of BFSI
•  Good analytical, communicating skills and reporting skills.
•  Ability to learn and implement at a fast pace.
  
  
  

Leadership

•  Demonstrate leadership, negotiation, communication and audit/ compliance management skills in order to handle CMT team activities and engage with Senior Management.
•  Bring new knowledge on board and keep updated with rapidly changing business environment.