Assistant Vice President- Regulatory Compliance (RBI)

COMPANY OVERVIEW

Headquartered in Tokyo, SMBC is one of the largest Japanese banks by assets (with over \238,700 billion in total assets), with strong credit ratings across the globe. The bank offers personal, corporate and investment banking services to their customer network that extends across 39 countries and regions, 15 of which are in Asia. The Asia-Pacific regional headquarter, established in 2008, is based in Singapore. The bank’s presence in India was established in New Delhi in December 2012, in Mumbai in March 2017 and Chennai in November 2020. In India, SMBC concentrates on Wholesale Banking with a strong client base and coverage of global and local conglomerates and corporates. Its strong financials and worldwide operations provide clients with global solutions that makes SMBC the leading choice for businesses expanding around the globe, particularly in Asia.

OUR VALUES

Integrity Customer First Proactive & Innovative Speed & Quality Team“SMBC Group”

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JOB DESCRIPTION

Purpose of the position

Responsible for handling all the compliance related function of the bank

Receive and manage the correspondences from RBI in Mumbai office

Coordination with internal and external stakeholders. Arrange various committee meetings, project meetings, others etc.

Scope and Dimension

Geographical/Functional coverage: Mumbai – India (Compliance of all India Operations)

Annual budgetary amounts the job is accountable for LCD

Team contributor

Coordination with various internal and external stakeholders.

Challenges

Good coordination and monitoring skills in order to obtain responses on various regulatory / HO requirements from time to time.

Continuously updated on the recent developments in the industry.

Assertive to ensure timely delivery of information to the Regulator/ HO etc..

Job Responsibilities

Issue Branch circulars for all the staff members of the India Branches highlighting the regulatory requirements, actionables, timelines etc.

Keep a track and strict monitoring of all correspondences with the Regulators and ensure that responses to regulatory authorities are properly submitted within the stipulated period of time.

Handle Inspection by Local Regulatory Authorities and coordinate with other departments for smooth completion of the inspection.

Liaise with various internal stakeholders and ensure to submit the bank response to local regulatory authorities within the prescribed stipulated period of time.

Preparation of Annual Compliance Risk assessment & Compliance Action Plan and put up the same to Management. Post approval by branch management, submit the same to HCO, LCAPD, CCO, CPLD and ICPG.

Carry out Compliance Self Review and compliance Testing in line with the approved Compliance Risk Assessment and Action Plan and put up the report with findings to the management in a timely manner.

Conduct various Training (classroom training, Online training etc) to educate the branch staff on compliance issues followed with test assignments and track until completion.

To arrange for In Office Compliance Committee Meeting on bimonthly basis to discuss significant compliance matters in line with the HO guidelines

Arrange different meetings including Customer Service Committee Meeting etc. coordinate, prepare agenda and minutes.

Regular review of Policy and Procedure of Legal & Compliance Department to ensure that same is updated and amended with the approval of appropriate authority as and when there are changes in regulations/ guidelines

Maintain various MIS and prepare periodic reports in a timely manner. Monitor and manage various approved documents for quick retrieval.

Execution and completion of tasks assigned by department Head, controlling office, Regulator etc. in a timely manner.

Experience & Qualifications:

Key Competencies:

Should have sound knowledge of Legal and Compliances applicable on foreign banks in India.

Should have good oratory and written skills.

Should be able to keep track with the external compliance updates and implementation to take care of.

Strong in Microsoft Word/ Excel/ PowerPoint excel and presentations.

Education & Qualification:

Bachelor/ Masters in related field.

Working Experience:

Should have 10+ years of experience in related field.