Senior Compliance Manager-Retail Liabilities & Wealth

Job Requirements

Role – Senior Compliance Manager - Retail Liabilities & Wealth

Function/Department – Compliance - -Retail Liabilities & Wealth

Location – BKC Mumbai

Job Purpose:

The Senior Compliance Manager - Retail Liabilities & Wealth will be responsible for managing compliance risk within the bank. This role is part of the Compliance Function, an independent unit ensuring adherence to regulatory requirements. The position is based in Mumbai and requires a seasoned compliance professional with a proven track record in banking or NBFC compliance functions.

Primary Responsibilities:

- Provide compliance oversight and advisory support to business units to ensure regulatory compliance and manage overall compliance risk.
- Collaborate with business and support/control functions to implement compliance requirements.
- Ensure all required policies, procedures, and manuals are in place for regulatory compliance in the Liabilities and Wealth Business.
- Review policies, product notes/manuals, SOPs, and internal process documents in line with RBI guidelines, focusing on closure of RBI inspection observations.
- Assist business teams by reviewing and providing feedback before launching products, variants, and campaigns.
- Disseminate relevant RBI circulars to business teams, highlighting required actions for smooth implementation.
- Manage dissemination and closure of RBI circulars through the system and ensure quarterly self-certifications.
- Respond to regulatory queries from RBI, PFRDA, and IRDA in a timely manner.
- Ensure timely submission of certifications, reports, and responses to regulatory communications.
- Share relevant PFRDA and IRDAI circulars with business teams and ensure implementation.
- Train personnel on regulatory compliance responsibilities and prepare/update FAQs based on applicable guidelines.
- Identify and escalate compliance issues and lead efforts to resolve them promptly.
- Circulate advisories to sensitize stakeholders on regulatory updates and issues.
- Advice on queries related to appointments and operations of Business Correspondents.
- Coordinate with stakeholders during regulatory inspections and collate responses to observations.
- Prepare control points for Liabilities and Wealth Business in RBS Tranche III data and coordinate data procurement.
- Conduct compliance monitoring to ensure alignment with RBI guidelines.
- Prepare and update regulatory checklists and FAQs for assigned areas.
- Prepare and submit periodic and ad-hoc notes to the Board.

Secondary Responsibilities:

- Perform other compliance activities as assigned by management.
- Support cross-functional initiatives and contribute to compliance strategy development.

Qualifications:

- Bachelor’s degree in a relevant field is required. A postgraduate degree or professional certification in compliance, law, or finance is preferred.
- Professional Degree - CA

Experience: Proven track record in the compliance function of a bank or NBFC with extensive 7 years of experience in managing regulatory compliance and risk.

- Industry : Banking / Finance