Bharat Banking:CARO Team

Axis Bank

Mumbai, India

10-12 Years

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Job Description

Bharat Banking: CARO

INTERNAL USAGE

No. of Vacancies:

Reports to:

BH- BE Wholesale

Is a Team leader

Team Size:

Grade:

VP/SVP-1

Business:

BHARAT BANKING

Department:

Bharat Enterprises

Sub-Department:

Location:

CO Mumbai

About Bharat Banking

Bharat Banking is a new Department which has been set up to drive different business that the Bank does in Semi Urban and rural markets. The department is expected to drive business outcomes by focusing on partnerships, new products, innovation, reimagining customer journeys and driving / creating new channel.

AbouttheRole

The present role is of CARO, which looks after the Compliance and Risk Assessment for the Bharat Banking department at CO, and also looks after the Risk Control Unit in Bharat Banking. The role of the Bharat Banking CARO team encompasses the following:

Regulatory Reporting to RBI by way of periodic returns
Ensuring timely replies to External / Internal Audit reports / RBI queries / RBI inspection reports / Walkthroughs / EGRC open issues
Disseminating regulations relevant to the department and to the business units
Correspondence with regulator / BO for complaints / queries
Preparing and presenting periodic compliance reports / MISs to the department head
Coordination with external vendors conducting due diligence for the bank and review of the vendor agreements
Formulating standard processes / process improvements and getting them approved from the competent authorities.

Key Responsibilities

1	Anchoring the Supervisory Process for Assessment of Risk and Capital (SPARC) ie Risk Based Supervision (RBS) for Retail Lending Business
2	Meeting RBI officials during onsite inspection for various regulatory matters associated with Retail Lending Business
3	Analysing new RBI guidelines/changes in the extant guidelines applicable to Retail Lending department, place a synopsis of the same to business and follow-up for their effective implementation
4	Identify the controls associated with the new regulatory guidelines and follow-up for effective implementation of the same
5	Timely submission of responses to RAR / RMP / internal audit or testing reports & ensuring quality and comprehensiveness of the responses to eliminate requirements of resubmission.
6	Seeking clarifications on important regulatory guidelines from Compliance Department/RB
7	Implementation of actionable specified in the Risk Assessment Report of RBI
8	Handling the entire gamut of activities related to internal and external audit process of the Bank. The activities span, interaction with the auditors, resolution and responding to all aspects
9	Anchoring the EGRC framework of Retail Lending Department
10	Reporting of incident and operational errors and identifying potential areas of compliance vulnerability and risk
11	Undertaking Testing and monitoring of Key Compliance and Operational Risk indicators
12	Ensure adherence and timely implementation of regulatory guidelines raised by compliance units
13	Review SOPs to make them effective tools for ensuring compliance with new/revised regulatory guidelines.
14	Appropriate updation of risk register (RCM)
15	Timely Closure of compliance Issues in GCM / Operational Risk issues / Internal audit issues
16	Driving initiatives & actionable under the framework of assessment of risk and compliance culture
17	ensuring timely & comprehensive RCAs are done to avoid recurrence of observations.

Qualifications

Optimal qualification for success on the job is:

CA or MBA from a recognized institute
Other graduates with relevant experience of around 10 years would also be considered

Role Proficiencies:

For successful execution of the job, the candidate should possess the following:

Remain updated with regulatory guidelines and judge the effect of the same on the regulatory returns / compliance required by the department
Ability to multitask and ensure completion of tasks in hand within timelines
Ability to build good working rapport with internal stakeholders and to be able to leverage the same for quick turnaround of projects in hand
Ability to take on new tasks and learn on the job
Willingness to work on tight deadlines