Internal Control (Unit)

Experience in the broking industry or financial services sector, especially in broking, depository services, or portfolio management. Position Overview

We are seeking a dynamic and detail-oriented professional to join our Internal Control Unit. The ideal candidate will play a pivotal role in managing, monitoring, and enhancing the organizations operational risk framework and internal controls. This position requires strategic oversight, thorough policy reviews, and active collaboration with stakeholders to ensure compliance with regulatory and organizational standards.

Key Responsibilities

Regulatory Assurance:

• Conduct regulatory assurance across areas such as Broking, Depository Participants, Portfolio Management Services, Research Analyst, Algorithm Trading, Business Associates, Code of Conduct and other critical areas.
• Highlighting non-compliance to the senior management
• Follow-up with concern stakeholder for closure of the observation

Risk Control Self-Assessment (RCSA):

• Identify operational risks, document controls, and test their effectiveness.
• Regularly update the RCSA framework to address emerging risks.
• Review model risk and assess its impact.

Risk Appetite Statement (RAS) Management:

• Monitor and report on RAS at the group and organizational level.
• Conduct periodic threshold reviews.
• Implement a breach management framework.
• Prepare and report on Group RAS metrics.

Internal Control Policy Review:

• Review and implement key policies, including BCP, Outsourcing, Error Trade Policy, Fraud Prevention, and Operational Risk Management.
• Ensure policies align with regulatory requirements and organizational objectives.
• Conduct gap analyses and strengthen controls within existing processes.
• Validation of the compensation given to the clients.

Enterprise Risk Management (ERM):

• Develop and implement the ERM framework.
• Monitor critical organizational parameters to enhance enterprise-wide risk visibility.
• Prepare the ICAAP document as part of the ERM process.

Risk and Compliance Awareness / Culture:

• Periodically conduct awareness sessions on risk and compliance.
• Perform weekly surveillance of mis-sales and business associates (BA).

Exception Reporting and RCA Framework:

• Conduct in-depth Root Cause Analysis (RCA) for exceptions and anomalies.
• Systematically address and prioritize deviations to ensure long-term solutions.

Process Gaps and Exception Reporting:

• Identify failures in product design, operations, or process implementation.
• Collaborate with stakeholders to resolve open observations and ensure timely follow-ups.
• Communicate RCA findings and identified issues effectively across the organization.
• Review and update process documentation to address identified gaps.
• Enhance system controls to mitigate risks.

Qualifications and Skills

• Educational Qualification:
  MBA/CA with a minimum of 2 years of relevant experience in internal control functions or operational risk management.
• Industry Experience:
• Candidates with relevant experience in the broking industry are strongly preferred.
• Technical Skills:
• Strong understanding of risk management frameworks and regulatory compliance requirements.
• Proficiency in designing and monitoring policies, RCSA, and RCA frameworks.
• Knowledge of enterprise risk management, fraud prevention, and internal control systems.
• Soft Skills:
• Excellent analytical and problem-solving capabilities.
• Strong communication and stakeholder management skills.
• Detail-oriented with a proactive and structured approach to resolving issues.
• Experience in the broking industry or financial services sector, especially in broking, depository services, or portfolio management.