Manager - FCU Governance

IDFC FIRST Bank; Mumbai; On-site; INR 3,000,000 - 6,000,000; Full time

Job summary

IDFC FIRST Bank in Mumbai seeks an experienced Manager - FCU Governance to lead regulatory interactions with RBI/SEBI, drive evidence submissions, and coordinate internal audit engagements related to financial crime. The role requires deep expertise in money mule risk mitigation and cyber‑enabled fraud controls.

You will manage cross‑functional stakeholders, ensure timely regulator responses, and maintain robust documentation and control frameworks to support regulatory expectations.

Qualifications

• Experience handling money mule/cyber-enabled fraud regulatory engagements.
• Understanding circulars, advisories and evolving regulatory expectations on money mules.
• Excellent written and verbal communication with regulators and auditors.

Responsibilities

• Manage RBI/SEBI regulatory interactions and audit engagements end‑to‑end.
• Coordinate evidence collection, drafting and timely submissions for regulator inquiries.
• Maintain governance and tracking of regulatory deliverables and responses.
• Provide guidance to due diligence teams based on regulatory interactions.
• Ensure adherence to SOPs and strengthen internal controls related to regulatory reporting.

Skills

Money mule risk

Cyber-enabled fraud

Regulatory correspondence

Audit management

Stakeholder management

Regulatory submissions

Education

Data science graduation (Premier/Tier 1 University)

Post-graduation: any stream (Premier/Tier 1 University)

Job description

Job Title/ Role: Manager - FCU Governance

Business Unit/ Department: Risk

Job Purpose

As a member of the Enterprise Risk Management (ERM) team, this role is responsible for managing regulatory interactions—particularly with the Reserve Bank of India (RBI) / SEBI, law enforcement agencies like Indian Cyber Crime Coordination Centre (I4C), Ministry of Home Affairs (MHA), Financial Intelligence Unit of India, NPCI and other authorities; besides the internal audit engagements related to financial crime – money mules and cyber‑enabled fraud related matters. The incumbent will ensure timely and accurate delivery of regulatory submissions, support balanced and risk‑based discussions with the authorities, and provide high‑quality drafting and review of regulator‑facing responses. The role requires strong experience in money mule risk mitigation, cyber‑enabled fraud prevention, compliance frameworks, and the ability to manage cross‑functional stakeholders to close issues effectively.

Roles & Responsibilities

Regulatory Interaction & Response Management (RBI Focus)

• Ensure effective and quality liaison for RBI inspections, offsite reviews, adhoc submissions in response to targeted questionnaires, onsite thematic reviews, and other supervisory/regulatory communications related to money mules and cyber‑enabled fraud risk.
• Lead the end‑to‑end process of regulatory responses: query intake → stakeholder coordination → evidence collation → drafting → quality review → timely submission.
• Ensure high quality responses reflecting a balanced, transparent, and risk‑based perspective, aligning with regulatory expectations.
• Maintain a robust repository of submissions, inspection reports, compliance status, and closure evidence to enable consistency in responses.
• Liaise with internal stakeholders for assimilation of required information, tracking, and escalating issues to ensure timely submissions.
• Manage regulatory on‑site inspections by liaising with various stakeholders to ensure accurate, complete, and timely submission of high‑quality data and responses.
• Ensure end‑to‑end compliance with RBI Master Directions, circulars, and advisories; proactively track regulatory changes and embed requirements into business processes.

Audit/Compliance Assurance Engagement

• Manage end‑to‑end interactions and responsiveness with internal audit teams, concurrent auditors, and compliance testing groups.
• Coordinate walkthroughs and ensure high‑quality evidence submission.
• Provide proactive guidance to the mules monitoring/central due diligence team based on audit/regulatory interactions, recommending process changes and upliftment.
• Track deliverables and govern interactions, responses, and open items to closure.
• Act as central point of contact for internal audit requests, walkthroughs, sampling, evidence submission, and management responses.
• Coordinate and support internal audits end‑to‑end, including preparation of audit documentation, responding to audit observations, facilitating discussions with auditors, and ensuring timely implementation and closure of audit findings.
• Review and evaluate existing organizational processes to design and strengthen internal controls, ensuring accurate and timely regulatory and management reporting, while driving continuous process improvements for operational efficiency.
• Ensure complete adherence to the processes outlined in the SOPs/Mule Framework and proactively align documented procedures with actual on‑ground activities to mitigate potential audit or compliance queries.

Language, Quality & Documentation Excellence

• Good interpersonal and narrating skills to ensure clarity, completeness, factual accuracy, risk‑contextualised narratives with appropriate tone.
• Prepare comprehensive information notes and decks for various management and board‑level committees, enabling timely review, informed decision‑making, and effective issue closure through cross‑functional coordination.

Governance around Regulatory Deliverables and Engagements

• Own a structured regulatory & audit deliverables tracker with clear owners, due dates, status, dependencies, and escalation paths.
• Run periodic governance reviews to assess progress, dependencies, and follow up and escalating issues when needed.
• Ensure robust version control, submission logs, and evidence repositories for traceability and future examinations.
• Maintain consistency in responses and reduce risk of misstatements by confirming definitions, metrics, and factual grounding before finalization.

Required Skills & Competencies

• Experience in handling money mule / cyber‑enabled fraud related regulatory engagement and audits.
• Understanding of various circulars, advisories, and evolving regulatory expectations with respect to money mules and cyber‑enabled frauds.
• SME knowledge of mule typologies, detection strategies, risk indicators, control enhancements, and investigative themes pursued by regulators/authorities.
• Strong experience in regulatory correspondence and audit management, preferably from compliance function.
• Excellent written and verbal communication.
• Strong discipline in ensuring that regulatory expectations and timelines are met.

Educational Qualifications

• Graduation: Data science relevant stream (Premier/ Tier 1 University).
• Post‑graduation: Any stream (Premier/ Tier 1 University).

Experience

• 10–12 years in a relevant role, handling regulatory engagement preferably in compliance/audit functions.