Lead – Compliance Testing

Designation/ Role

Designation

Lead Compliance Testing

Grade

Level 1 - Senior Executive/

Assistant Manager

Reporting to

Manager - Compliance

Location

HO, Mumbai

Function

Risk

Job Purpose

This role requires a dynamic candidate who can contribute to Lead Compliance Testing at an NBFC/HFC.

Role

• Testing Framework
• Assist in preparing annual compliance testing plan for senior management
• Prepare monthly & quarterly plans/scope and update senior compliance leadership on progress
• Provide detailed report to Compliance senior management on a regular basis of the review conducted in a month and critical gaps identified during the review along with status

• Regulatory Compliance
• Review the testing checklists required for the review for each regulated business
• Develop solutions to address specific challenges faced by the business units in regulatory compliance matters including impact assessments

• Business, Policies & Processes
• Develop a comprehensive understanding of Companys business, systems, Policies and processes.
• Acquire in-depth process understanding for planned audits, including processes, systems involved, data flow, and datasets.
• Formulate queries, lead process walkthroughs with key business stakeholders and document the outcome with thorough identification of risks and controls.
• Drives and understand root cause of the observations and ensure
• implantation of corrective actions.
• Co-ordinate/Collaborate with various verticals such as Compliance, Credit, CX, Ops, Product and tech teams for ensuring overall compliance framework

• Systems/Journeys
• Assess the loan journeys, internal tech journeys and developments to ensure adherence to regulatory guidelines and internal policies/processes

• Identification, Reporting and Mitigation of Compliance Risks
• Assist in Annual Compliance Risk assessment and mitigation actions
• Assist the Compliance leadership in providing updates to senior management on the critical compliance issues for immediate attention and escalations

• Regulatory Inspections/Audits
• Provide constant support during regulatory inspections
• To act as a bridge between Internal Audit/Regulators and Business to follow up on IA recommended action closures by business units

• Team Management
• Lead compliance testing team

Qualification

Essential CA / CIA / MBA Finance

Preferred CA

Experience

Essential: Professional with past work experience of at least 5-7 years in Regulatory Compliance/ Compliance Testing. Internal Audit of NBFC/HFC

Preferred: Prior experience of regulatory inspections with analytical mind and ability to assess & solve the complexities of procedures and regulations.