Head – Regulatory Reporting & Financial Control – Bank

Skillventory; Mumbai; On-site; INR 2,000,000 - 3,000,000; Full time

Job summary

A leading financial institution in Mumbai is looking for a seasoned financial professional to manage local financial and regulatory reporting. This role requires significant experience in team management and compliance with regulatory standards, with a focus on enhancing operational efficiency and managing audits. Candidates should possess at least 15 years of relevant experience, with qualifications including a graduate degree and potentially further certifications. Strong leadership and stakeholder management skills are essential.

Qualifications

• At least 15 years of experience in financial or banking sectors.
• Experience in managing compliance with local accounting standards.
• Strong knowledge of regulatory frameworks and reporting requirements.

Responsibilities

• Manage overall governance of regulatory reporting.
• Ensure accurate and timely submissions of regulatory filings.
• Lead strategic initiatives related to regulatory compliance.
• Prepare financial statements as per local accounting standards.
• Drive and manage various audits and meet compliance requirements.

Skills

Team Management

Regulatory Reporting

Stakeholder Management

Financial Analysis

Operational Excellence

Education

Graduate

Post-graduation

Certification in Foreign Exchange Operations

Job description

Position Purpose: Responsible for the Local Financials and Regulatory Reporting of the Bank.

Direct Responsibilities

• Team Management, Leadership & Stakeholder Management: Manage overall governance of regulatory reporting in Finance domain and have a complete and thorough understanding of the control environment, identifying gaps and executing remediation plans to mitigate such gaps.
• Ensure all regulatory filings are duly validated for accurate & timely submissions.
• Liaise with business, Operations & other relevant functions for inter-dependencies, review of the submissions and facilitate conflict closure.
• Lead, participate and execute Finance India strategic initiatives with respect to regulatory compliance including defining business requirements & driving system changes with technology & other relevant teams.
• Identify change opportunities and drive innovations along with change specialist teams to implement process changes to enhance efficiency.
• Manage and develop team, create backup and resiliency, ensuring its optimal utilization, knowledge management through regular updates of SOPs and attrition risk management.
• Manage the day-to-day relationship with all internal & external stakeholders to ensure efficient working partnership and build up a collaborative model.

Local Reporting

• Manage preparation of Financial Statements as per local accounting standards & RBI guidelines to ensure that Financial Statements meet all disclosure requirements.
• Plan local audits & various certification requirements & finalize appointment of auditors.
• Drive the annual statutory audit and primary face off with statutory auditors to finalize financial statements of the Bank as per local regulatory requirements.
• Address accounting related matters & queries to ensure that accounting of various products & transactions is in accordance with accounting standards, policies, regulations & generally acceptable accounting conventions.
• Manage various MIS required for review of regulatory compliances & reporting.

Regulatory Reporting

• Analyze new regulations / changes in existing regulations and impact assessment on systems & processes so that regulations are implemented in a timely & accurate basis.
• Partner with key stakeholders in Business, Compliance, Credit and Operations for bank level regulatory positions / conclusions and submission of regulatory information to the RBI.
• Oversight & review of RBI regulatory reports such as Basel prudential reporting (capital adequacy, Pillar 3, ICAAP, LCR, NSFR, large exposure framework, leverage ratio), Statutory reserves (CRR, SLR), liquidity reporting, DSB returns, and Risk-Based Supervision data points.
• Manage that all regulatory queries are suitably responded both during annual regulatory inspection as well as ad hoc queries.
• First touchpoint for the regulator to reach out for inputs and explanations with regards to Financial & regulatory reporting related queries.
• Provide the information to Branch Management Board and other forums e.g. Asset Liability Committee, Management Committee, Risk committee) & highlighting key capital and liquidity metrics, risks, gaps & remediation plans.
• Lead the Finance team for the India regulatory returns automation.

Contributing Responsibilities

• Bank’s strategic initiatives.
• Capital infusion.
• LEF Financial Management.

Specific Qualifications

• Experience Level: At least 15+ years.
• Graduate. Post-graduation would be an added advantage.
• Certification in Foreign Exchange Operations – FEDAI.
• 4-5 years of experience in banking.