Compliance Manager

Roles and Responsibilities :

• Support in conducting assessment of the compliance risk (at least once a year) and develop a risk-oriented activity plan for compliance assessment.
• Provide clarification on any compliance related issues to various business functions.
• Support monitoring and periodically testing compliance by performing sufficient and representative compliance testing.
• Examine sustenance of compliance as an integral part of compliance testing and annual compliance assessment exercise.
• Support in ensuring compliance of Supervisory observations made by RBI and/or any other directions in both letter and spirit in a time bound and sustainable manner.
• Help in identifying level of compliance risk in each business line, products and processes and mitigation of such risks.
• Vetting of guidelines/ circulars issued, for compliance with regulatory guidelines before these are disseminated amongst the business functions.
• Supporting submission of reviews on quarterly/ annual basis to Board/ Board level committee. The annual review should broadly cover the following aspects.

1. a. Compliance failures,if any during the preceding year and consequential losses and regulatory actions also steps taken to avoid recurrence of the same
2. . b. List of all major regulatory guidelines issued during the preceding year and steps taken by the Company to ensure compliance.
3. c. Independence of compliance procedures and processes.
4. d. Compliance with fair practices codes.
5. e. Progress in rectification of significant deficiencies pointed out in the inspection reports and position of implementation of recommendations made therein.

• Subjecting “new products launches” to compliance test and monitor the product for the first six months of introduction to ensure that the indicative parameters of compliance risk are mitigated.

• Arrange to put in place a comprehensive compliance manual - documenting and recording for posterity. Oversight of risk-based compliance programme.

• Focus on regulatory/statutory compliance

• a. Compliance with fair practice codes,

• b. Government policies, Company’s internal policies and prevention of money laundering/funding of illegal activities.

• Compliance with legal and regulatory requirement by branches/ subsidiaries observing proper standards of market conduct.

• Calibrating each guideline and mapping it to risk categories. Support timely rectification of Risk Mitigation Plan (RMP) and its sustenance, prompt rectification of Risk Assessment

• Ensure preparation of curriculum for compliance training and imparting in each of the training programme conducted, training of compliance officers and compliance executives every year.

• Maintain policy templates, guidance and the annual calendar for policy reviews.

• Liaise with policy owners to ensure policy reviews are carried out on schedule. Ensure consistent application of the policy framework. Any other work related to compliance functions allotted from time to time.