Avp - Compliance Assurance / Testing - Mumbai, India - DBS Bank

DBS Bank

Verified Company

Mumbai, India

4 weeks ago

Posted by:

Deepika Kaur

beBee Recuiter

Description

**Function of the Department:
- **Compliance Department works closely with the business partners to manage the Bank's regulatory / compliance risk by balancing its objective to maximise returns against an acceptable risk profile.

The compliance department, partners with stakeholders in developing controls and adequate governance framework and also develops a compliance assurance programme as part of independent second line function.

To manage risk effectively and run a successful business we invest in our people and infrastructure.

**Job Purpose:
- **To conduct assessment of the compliance risk and to develop a risk-oriented activity plan for compliance assessment. To monitor and periodically test compliance by performing sufficient and representative compliance testing.*****Key Accountabilities:
- *

Driving Compliance Culture and standards
Assess the Compliance Risk within the Bank and arrive at a Compliance Testing Plan.
Conduct Thematic / Spot Reviews as per the Compliance Testing Plan
Conduct other periodic reviews such as RBS Tranche III Testing, Surveillance of the Treasury function etc.
Support the department / Bank during regulatory inspections.
Be updated of the latest regulatory developments in the Industry
Drafting policies / procedures related to the Compliance department.
Take up related roles such as Compliance Advisory / Regulatory Engagement etc within the Compliance Department whenever required.

**Job Duties & Responsibilities:
- *

Evaluate various circulars / products / processes across the Bank to assess the compliance risk at the Bank level and at Business Unit /Support Unit level.
Work out a Risk oriented Compliance Testing plan based on the key risk areas identified as part of the risk assessment activity
As part of Thematic Reviews, prepare the scope of the review, conduct walk throughs with the stakeholders to understand the controls in place to manage regulatory risk and conduct data driven testing.
Arrive at design level issues and operational lapses and suggest measure to rectify / resolve the same and prevent its occurrence in future.
Discuss the review findings with the stakeholders and arrive at management actions for resolution.
Prepare reports of the Thematic Review findings and present it to the management as per requirement.
Work closely with Business / Support units to ensure closure of management actions agreed upon, ensure overall compliance to all applicable regulatory and licensing requirements and improve overall control environment and promote sustainable growth.
Track agreed actions through to conclusion and escalate wherever overdue.
Conduct RBS Tranche III Testing by following up for control description and samples from the BU/SU. Ensure correct and timely completion of the activity.
Maintain a broad knowledge of the business and regulatory framework in Banking/Financial services and stay aware of the latest regulatory developments within the industry through Networking with peers across banks.

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Engage with the regulators during inspections whenever required to do so
:

Proactively identify the regulatory requirements with respect to the Compliance Department and draft policies, procedures, and practices for the same. Conduct periodic reviews of the compliance department in line with the regulatory requirements.
Explain the circulars / guidelines to the Business / Support Units wherever required to increase their understanding about the regulatory guidelines. Drive the compliance culture and agenda within the Bank
Take up related roles such as Compliance Advisory / Regulatory Engagement etc with the Compliance Department whenever required. Support the compliance head and the team members in executing specific projects / work assignments.

**Required Experience:
- *

Compliance / Risk / Audit Role in Bank for 812 years (incl. exposure to compliance reviews / testing)
Sound financial and technical knowledge of banking and financial services laws
Knowledge of overall banking environment and regulatory circulars/guidelines.

**Core Competencies:
- *

Able to identify and forecast compliance risks in line with the proposed business growth & find solutions
Analytical and comprehension skills to understand & interpret regulatory requirements
Attention to detail and researchoriented approach
Sound approach to problem solving
Good communication and negotiation skills at all levels, especially drafting & writing skills.

**Education / Preferred Qualifications:
- **
Professional (CA / MBA-Finance from reputed institute), with experience in Bank Compliance / Risk / Audit Department for 8-12 years

Primary Location:

India-Maharashtra-Mumbai

Job:

Compliance

Schedule:

Regular

Employee Status:

Full-time

Job Posting:

Sep 5, 2023, 12:13:47 AM