Senior Compliance Officer – Bank

Dimensions HRD Consultants; Mumbai; On-site; INR 800,000 - 1,200,000; Full time

Job summary

A leading HR consultancy in Mumbai is seeking a Senior Compliance Officer to ensure adherence to RBI regulations and manage compliance-related tasks. The ideal candidate will have experience with regulatory audits and excellent analytical and communication skills. Responsibilities include liaising with RBI, monitoring regulatory changes, and preparing compliance reports. This role is crucial for maintaining regulatory standards and fostering stakeholder relationships.

Qualifications

• Strong understanding of Indian banking regulations, particularly those related to RBI.
• Experience in handling on-site inspections and regulatory audits.
• Ability to meet tight deadlines.

Responsibilities

• Serve as the primary point of contact for RBI’s on-site inspection team.
• Monitor regulatory changes and ensure compliance with RBI guidelines.
• Coordinate with the Compliance team and the Audit team to conduct Tranche III testing.

Skills

Understanding of Indian banking regulations

Strong analytical skills

Excellent communication skills

Problem-solving skills

Attention to detail

Ability to work under pressure

Tools

Microsoft Office Suite

Job description

About the Role

– We are seeking a highly motivated and experienced Senior Compliance Officer to join our Compliance team.

– This role is crucial in ensuring adherence to regulatory guidelines, particularly those set forth by the Reserve Bank of India (RBI).

– The successful candidate will be responsible for acting as the primary point of contact for RBI’s on-site inspections, coordinating with various business units, and ensuring timely responses to RBI queries.

Key Responsibilities

• RBI Liaison
  • Serve as the primary point of contact for the RBI’s on-site inspection team.
  • Coordinate with various business units to gather necessary information and documentation.
  • Ensure timely and accurate responses to RBI queries and requests.
• Regulatory Compliance
  • Monitor regulatory changes and ensure compliance with RBI guidelines and industry standards.
  • Conduct regular reviews and assessments of compliance programs.
  • Identify potential compliance risks and implement mitigating measures.
• Tranche III Testing
  • Coordinate with the Compliance team and the Audit team to conduct Tranche III testing.
  • Ensure adherence to testing methodologies and standards.
  • Analyze test results and identify areas for improvement.
• Regulatory Reporting
  • Coordinate with various business units to prepare and submit regulatory reports, including Risk Assessment Reports (RAR) and Risk Management Plans (RMP).
  • Ensure timely submission of reports post necessary approvals.
• Stakeholder Management
  • Build strong relationships with various business units and stakeholders.
  • Provide guidance and support to business units on regulatory matters.
  • Facilitate effective communication and collaboration among different teams.

Qualifications and Experience

• Strong understanding of Indian banking regulations, particularly those related to RBI.
• Experience in handling on-site inspections and regulatory audits.
• Strong analytical and problem-solving skills.
• Excellent communication and interpersonal skills.
• Ability to work under pressure and meet tight deadlines.
• Strong attention to detail and accuracy.
• Advanced knowledge of Microsoft Office Suite.