- Regulatory Compliance:
- Stay up-to-date with the latest laws, regulations, and industry guidelines to ensure the institution's practices are in line and in compliance with current requirements.
- Interpret and communicate regulatory changes to relevant stakeholders within the organisation.
- Develop and maintain compliance policies and procedures that align with applicable regulations.
- Monitoring and Reporting:
- Conduct periodic compliance reviews and risk assessments to identify potential gaps and areas for improvement.
- Analyse and assess the institution's adherence to regulatory requirements and internal policies.
- Prepare reports on compliance findings and share them with Senior Management and Regulatory authorities.
- Training and Education:
- Provide training to employees on compliance-related matters to promote a culture of compliance throughout the organization.
- Conduct workshops or seminars to ensure staff members understand their responsibilities and obligations under the law.
- Compliance Investigations:
- Investigate and respond to compliance-related issues, such as customer complaints, suspicious activities, or potential breaches.
- Collaborate with internal audit and legal teams to address and resolve compliance incidents.
- Risk Management:
- Work with the risk management team to identify and assess compliance risks and develop strategies to mitigate them.
- Assist in developing contingency plans for potential compliance-related emergencies.
- Regulatory Filings and Documentation:
- Prepare and submit required regulatory filings and reports accurately and within specified deadlines.
- Maintain comprehensive documentation of compliance activities, reports, and other relevant records.
- External Liaison:
- Serve as the primary point of contact for regulatory agencies during compliance examinations and audits.
- Foster positive relationships with Statutory Auditors, external auditors, regulators, and other industry stakeholders.
- Ethics and Code of Conduct:
- Ensure the institution's adherence to its ethical code of conduct and promote ethical behaviour within the organisation.
- Bachelor's degree in finance, business, law, or a related field (advanced degrees or certifications in compliance are a plus).
- In-depth knowledge of banking/ NBFC regulations, including but not limited to anti-money laundering (AML), Bank Secrecy Act (BSA), Know Your Customer (KYC), Consumer Financial Protection Bureau (CFPB) rules, etc.
- Strong analytical and problem-solving skills to assess compliance risks and find appropriate solutions.
- Excellent communication and interpersonal abilities to interact with stakeholders at various levels of the organisation.
- Attention to detail and ability to maintain accurate records and reports.
- Sound judgement and decision-making skills to handle complex compliance issues.
- Experience in regulatory compliance or a related field within the banking industry is highly desirable.
