ISS:Compliance and Risk Officer (CARO)

Information Systems Security (ISS) team ensures that Cyber Security Risk and Threats are managed through an risk management framework comprising of Information Systems Security Policies, Standards and Guidelines. The bank's Information Security & Cyber Security Policy & Standards based on various regulatory requirements / guidelines from RBI Gopalkrishna report, cyber security framework, NPCI, IT Act, MAS, HKMA, Aadhar etc., International regulations & standards such MAS, HKMA, PCI-DSS etc. The policies and standards approved by the Board of Directors encompassing independent identification, measurement and management of risks across the various businesses of the Bank. All compliance related requirements emanating from various regulators and stipulations like legal, regulatory and other standards adopted by the bank are periodically communicated to various stakeholders by way of circulars, office notes, workshops, etc. The bank has developed a comprehensive set of metrics like key performance indicators and key risk indicators for review by Business units, Subsidiaries and Top Management on a regular basis. Quarterly monitoring and reviews are undertaken by the top management for review and necessary action.

Respond to RBI queries during annual RBS audit

Co-ordinate for all the activities related to Risk Based Supervision / other regulatory inspections including the submission of data / documents and represent the department for all the queries raised during the RBI inspections.

Formulate responses to RAR observations from RBI in coordination with various Business Segments and Credit Underwriting,

Keep abreast with the regulatory changes and ensure dissemination and Implementation of regulations / amendments / actionable/ compliance communication in line with the milestones committed and within the timelines prescribed by regulators / internal timelines.

Supervise activities of CARO team members which includes various financial reporting. monitoring of Key Risk Indicators and Key Compliance Indicators, assessment of all Risks and associated control, timely and vetted response of regulatory/ statutory correspondence to Compliance Department for onward submission, facilitation of Operational Risk and Financial Risk walkthrough, Remediation of operational risk issues and control gaps, responses to audit observations.

Design new processes/ controls to address gaps highlighted by Operational Risk after risk assessment exercise and IAD after audit review

Review of Policies pertaining to Wholesale Coverage in alignment with the regulatory guidelines

Monitoring the Compliance Risk / Operational risk dashboards / risk movements of assessment units and flagging of the concerns to Head of the Department.

Monitor parameters such as review/ renewals, internal rating, EWS and RFA triggers, pending security creation, etc. and ensure they are done within due dates so that the overdue cases are within the minimum thresholds,

Provide regular updates to Segment Heads and Senior Management on status of implementation of Risk Mitigation Plan advised by RBI through weekly dashboards and bi-monthly RMP meeting with all Department Heads and MANCOM members.

Optimal qualification for success on the job is:

MBA (Finance) from a recognized institute

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

In-depth knowledge of key drivers and indicators in the relevant sectors

A solid understanding of financial statements, ratios

Understanding of compliance and regulatory norms

Good relationship management and strong communication and presentation skill