Compliance Testing Specialist is responsible for evaluation & monitoring internal controls, policies & procedures to ensure the organization adheres to applicable regulatory and compliance requirements. This role involves conducting Compliance assessments, identifying risks and recommending corrective actions to mitigate potential violations. The role is a part of 2nd line control testing for respective regions such as EMEA, Americas, AEJ, Japan, Powai.
Key responsibilities include:
- Compliance Testing & Monitoring:
- Conduct periodic risk-based control testing and reviews across various business areas & regions
- Evaluate policies, procedures & transactions, reports etc. by employing strong investigative techniques such as in-depth interviewing, inspection, observation and analysis to assess compliance key compliance risks, regulatory requirements, internal Compliance policies and effectiveness of key controls
- Identify gaps & recommend corrective actions to improve overall levels of compliance
- Reporting & Documentation:
- Prepare detailed reports on testing results, findings, and recommendations
- Maintain comprehensive documentation of compliance testing activities including approach of testing, evidence gathering etc. to further back the findings & exceptions that get reported
- Develop & document recommendations for actions to be taken by business towards mitigation of compliance risks
- Present findings to senior management & relevant compliance teams
- Track open issues & follow up for closure. This includes preparing appropriate management information
- Process Improvement:
- Stay updated on relevant laws, regulations & industry standards
- Work with stakeholders towards enhancing compliance practices
- Collaborate with internal teams to improve control frameworks
Domain / Technical
- 10 - 12 years of demonstrated experience in a Compliance and / or Control and / or Line of Defence (LoD) function, audit, risk management or related field preferably in the financial services industry
- Should have worked extensively on control testing and monitoring
- Strong knowledge of the Business Operational Risk Management Framework, Risk & Control Self-Assessment or Compliance Risk Assessment
- Proficiency in compliance testing methodologies & tools
- Strong communication & report-writing abilities
- Excellent analytical and problem-solving skills
- Good working knowledge of financial products and services
- Ability to work with multiple teams as well as to take independent ownership of assignments as a when required
- Minimum education requirement - bachelor s degree preferably in finance & business
- Excellent communication and influencing skills, with a good understanding of Compliance and Regulatory requirements
- Good understanding of the Investment Banking business and the Financial Services regulatory environment
- Proven project management would be an added advantage
- Knowledge and understanding of Data Analytics tools and technologies
Interpersonal
- Strong interpersonal and administrative skills, mature judgement, and high ethical standards
- Pro-active, with a mind set to drive efficiency
- Ability to identify issues and knowing when to escalate
- Self-starter, with an ability to multi-task
- Critical thinking, Conflict Management
