Compliance Advisory- Data Privacy

Kotak Mahindra Bank; Mumbai; On-site; INR 1,500,000 - 1,900,000; Full time

Job summary

Kotak Mahindra Bank is seeking a Team Member- Compliance Advisory (Retail Business) to provide proactive compliance guidance across liabilities, payments, and digital banking, ensuring adherence to regulatory requirements and internal policies while supporting business growth within the regulatory framework.

The role will interpret circulars and updates, advise on data privacy and third-party arrangements under DPDP Act 2023, engage with senior stakeholders, draft policies, and assist in

Qualifications

• CA/MBA/LLB or equivalent professional qualification.
• 4–10 years of experience in compliance advisory within banking or financial services with data privacy experience.
• At least 5 years of second line of defence compliance in a bank.
• Strong understanding of RBI guidelines, payment systems, data privacy, and digital banking frameworks.

Responsibilities

• Provide compliance advisory support across Liabilities (Branch Banking and related products) and Payments business (UPI, AEPS, PA, PG, acquiring solutions, and other channels).
• Advise on Digital Banking products, services, and privacy-related considerations.
• Interpret regulatory updates and assess impact on products, processes, and policies.
• Draft, review, and update compliance policies, SOPs, and guidelines; coordinate with internal audit, risk, and legal teams.
• Support responses to regulatory inspections, audits, and supervisory observations.
• Coordinate data privacy reviews, third-party arrangements, data processing, and data subject rights requests.
• Engage with senior stakeholders and provide practical compliance solutions.

Skills

Stakeholder engagement

Regulatory knowledge

Attention to detail

Education

Chartered Accountant / MBA / LLB or equivalent

Job description

Team Member- Compliance Advisory (Retail Business)

To provide compliance advisory support across key business segments, ensuring adherence to regulatory requirements and internal policies. The role involves proactive engagement with stakeholders to mitigate compliance risks and enable business growth within the regulatory framework.

Key Responsibilities

• Provide compliance advisory support to the following:
  • Liabilities Business including Branch Banking and related products.
  • Payments Business covering UPI, AePS, Payment Aggregators (PA), Payment Gateways (PG), acquiring solutions, and other payment channels.
  • Digital Banking advisory on digital platforms, products, and services
  • Government agency business
  • Data Privacy aspects
• Interpret circulars, notifications, and regulatory updates and assess their impact on existing products, processes, and policies.
• Review and advise on customer consent mechanisms, data collection, processing, sharing, retention, and deletion practices to ensure compliance with the DPDP Act, 2023 and related privacy. Provide advise on third-party/vendor data processing arrangements, data breaches, data subject rights requests and digital initiatives from a data privacy perspective. Reviewing Digital Banking Related Products, Policies, Processes and journeys. It involves giving feedback and advice to ensure the bank processes are comprehensive and compliant with regulatory guidelines
• Act as a point of contact for compliance-related queries from internal stakeholders.
• Assist in drafting, reviewing, and updating compliance policies, SOPs, and internal guidelines in line with regulatory changes.
• Support implementation of compliance frameworks including data Privacy framework, monitoring mechanisms, and control assessments.
• Ensure Compliance policies/SOPs are communicated effectively across departments.
• Conduct compliance risk assessments and identify gaps in adherence.
• Advice on mitigation strategies for regulatory and compliance risks.
• Support responses to regulatory inspections, audits, and supervisory observations.
• Assist in preparation and submission of regulatory reports and disclosures.
• Coordinate with internal audit, risk, and legal teams as required.

Qualifications & Experience

• Chartered Accountant / MBA / LLB or equivalent professional qualification.
• 4 10 years of experience in compliance advisory within banking or financial services including good experience on data privacy.
• At least, 5 years of work experience in second line of defence Compliance function of a Bank
• Strong understanding of banking regulations, payment systems , data privacy and digital banking frameworks.
• Strong knowledge of RBI guidelines and other regulations.
• Ability to engage with senior stakeholders and provide practical compliance solutions.

This is a Public document.