CA Fresher - Compliance Officer FM Advisory

Role & responsibilities

ROLE SUMMARY

The role holder is responsible for providing regulatory guidance on various products, processes and transaction structures pertaining to the treasury function of the Bank. The role also ensures regular interaction with the regulators for queries as well as during on-site and off-site inspections. Further, the role also ensures preparation of certain Management Information Systems.

KEY RESPONSIBILITIES/ ACCOUNTABILITIES

Core Responsibilities Regulatory Guidance

Providing regulatory guidance on various business structures and transactions pertaining to the treasury and PD operations.

Review of Product and Process Notes

Reviewing various product and process notes pertaining to the treasury and PD operations of the Bank from a regulatory point of view.

Interacting with the Regulators

Regularly interacting with the regulators to seek clarifications on guidelines or representing various business proposals for their approval.

Implementation of latest regulations

Ensuring that the action points from the latest regulations are shared with the concerned stakeholders and the same are implemented within regulatory prescribed deadlines or within suitable time in absence of any regulatory prescribed deadlines.

Management Information System (MIS)

Ensuring that accurate MIS are prepared and circulated to the Top Management on a timely basis.

Submission of Notes to the Board / Board level Committees

Ensuring that various compliance related notes are prepared and submitted to the Board / Board Level Committees on a timely basis either through placing it in the meeting or through circulation.

People Management or Self-Management Responsibilities Defines performance goals at the start of the year in discussion with the reporting manager and ensures that the goals are monitored and achieved during the course of the year. 

Takes ownership of his/her own learning agenda by identifying development needs in consultation with the reporting manager and working towards bridging the gaps through various means which go beyond just training.

Understands the competencies relevant to his/her role, and works towards displaying as well as developing these effectively.

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

Risk and Internal Control Responsibilities Implements the risk policies and processes (operational, regulatory, financial, informational, reputational and audit risks), ensuring that that these meet regulatory and internal requirements.

Implements the internal control systems in the department and participates in the departmental audits.

Implements practices to bridge gaps identified during departmental audits.

KEY INTERACTIONS

Key Internal Interactions Purpose of Interaction

Financial Markets Interacting with the Financial Markets unit on various queries and business proposals raised by them for Compliance approval / guidance.

Financial Market Operations Interacting with the Financial Markets Operations unit on various queries and process related transactional issues raised by them for Compliance approval / guidance.

Financial Market Middle Office Interacting with the Financial Markets Middle Office unit on various queries and process related transactional issues raised by them for Compliance approval / guidance.

Market Risk Interacting with the Financial Markets unit on various queries and business proposals raised by them for Compliance approval / guidance.

CS Interacting with the Company Secretary department to ensure that various Board / Board Level Notes are submitted on time for placing them in the meetings or through circulation.

RBI Inspection Interacting with various departments within the Bank to ensure that the requisite data is received and provide to the RBI inspectors. Further, ensuring that the requisite responses are received from various departments on the regulatory observations. The departments involved are AML, Internal Audit, Branch Banking, Credit Administration, Company Secretary, Digital Banking, Operations & Service Delivery, Financial Markets, Financial Markets Operations, Financial Market Middle Office, Financial Management, Fraud Investigation, Trade Operations, Market Risk etc.

Returns Submission Interacting with various departments within the Bank to ensure that the regulatory returns are filed on time. The departments involved are AML, Internal Audit, Bancassurance, Branch Banking, Business Banking, Credit Administration, Cash Management Services, Company Secretary, Corporate & Service Delivery, Currency Chest operations, Digital Banking, Operations & Service Delivery, Financial Markets, Financial Markets Operations, Financial Market Middle Office, Financial Management, Fraud Investigation, Trade Operations etc.

Key External Interactions Purpose of Interaction

Regulators Interacting with various regulators and quasi regulators such as RBI, FEDAI, FIMMDA, FBIL, CCIL, etc. for regulatory clarifications as well as representing various business proposals for the regulators guidance and approval. 

Interacting with RBI inspectors during the on-site as well as off-site inspections for ensuring seamless flow of requisite information to the regulators.

Other Banks Interacting with other peer banks on various business proposals to understand how the market is assessing such structures to help in making a sound regulatory decision.