AmbitionBox
Search
Jobs
- Reviews
- Salaries
- Interview Questions
- About Company
- Benefits
- Jobs
- Office Photos
- Community
Add office photos
Engaged Employer
i
This company page is being actively managed by
Bajaj Finserv Health Team. If you also belong to the team, you
can get access from
here
Bajaj Finserv Health
Compare
All Filters
4686 Bajaj Finserv Health Jobs
Cluster Manager
Bajaj Finserv Health
posted 5hr ago
Job Role Insights
Flexible timing
Key skills for the job
Job Description
Compliance Function plays a central role in identifying the level of Compliance risk in the organisation. The compliance function comprises of Regulatory correspondence team, Advisory team and Compliance Monitoring Testing (CMT) team. The incumbent will principally be accountable to lead the CMT team.
The Horizontal Compliance Framework Specialist will play a key role in designing, implementing, and managing a comprehensive compliance framework across Know Your Customer (KYC), Anti-Money Laundering (AML), and Outsourcing Arrangements. The role focuses on ensuring that compliance protocols are standardized, scalable, and effectively integrated across the organization, mitigating risks and ensuring adherence to regulatory standards.
Key Responsibilities:
1. Know Your Customer (KYC) / Anti-Money Laundering (AML) Compliance
o Review documentations for new account customers, categorize high-risk accounts basis KYC guideline ensuring proper customer due diligence (CDD) and enhanced due diligence (EDD) processes.
o Regularly review and update KYC protocols based on evolving regulatory requirements.
o Review AML controls, including transaction monitoring, name screening, and risk categorisation.
o Stay updated with relevant laws and regulations (e.g., FATF, RBI regulatory requirements) and ensure that the framework complies with industry standards.
2. Outsourcing Arrangements Compliance
o Review of outsourcing agreements, Business continuity Plan/ DR
o Review risk categorization of outsourced services and monitor ongoing compliance through regular reviews.
o Ensure adherence to contractual obligations and regulatory requirements in outsourcing agreements.
3. Monitoring, Reviewing, and Reporting
o Develop and implement regular monitoring and testing mechanisms to ensure compliance across KYC, AML, and outsourcing practices.
o Prepare and present compliance reports to senior management. Key Decisions / Dimensions
Specific area prioritization during field work in terms of what areas to focus on and what testing approach to be used.
Deciding the approach for review; what sample size to take and how to analyse the data. Major Challenges
BFL is a fast-paced growing organization with almost 90 + products. The business processes are changing at a very fast pace, so it is important to keep oneself updated and in fact, try to think ahead of the business.
The compliance requirements are complex and ever evolving hence the need for constant learning and keeping updated of industry developments Required Qualifications and Experience
Educational Qualifications
CA /MBA Fin with 5-8 years of experience
Understanding of operational processes and regulatory requirements
Analytical skills to perform testing
Ability to learn and implement at a fast pace
Work Experience
Candidate is expected to have know-how of regulatory requirements specifically from RBI
Candidate is expected to have a know-how of KYC, AML and Outsourcing Arrangements
Work jointly with a dynamic team of professionals having diversified experience CAs/ MBAs
With various BFL business initiatives candidate need to have agility to adopt to new changes
The Horizontal Compliance Framework Specialist will play a key role in designing, implementing, and managing a comprehensive compliance framework across Know Your Customer (KYC), Anti-Money Laundering (AML), and Outsourcing Arrangements. The role focuses on ensuring that compliance protocols are standardized, scalable, and effectively integrated across the organization, mitigating risks and ensuring adherence to regulatory standards.
Key Responsibilities:
1. Know Your Customer (KYC) / Anti-Money Laundering (AML) Compliance
o Review documentations for new account customers, categorize high-risk accounts basis KYC guideline ensuring proper customer due diligence (CDD) and enhanced due diligence (EDD) processes.
o Regularly review and update KYC protocols based on evolving regulatory requirements.
o Review AML controls, including transaction monitoring, name screening, and risk categorisation.
o Stay updated with relevant laws and regulations (e.g., FATF, RBI regulatory requirements) and ensure that the framework complies with industry standards.
2. Outsourcing Arrangements Compliance
o Review of outsourcing agreements, Business continuity Plan/ DR
o Review risk categorization of outsourced services and monitor ongoing compliance through regular reviews.
o Ensure adherence to contractual obligations and regulatory requirements in outsourcing agreements.
3. Monitoring, Reviewing, and Reporting
o Develop and implement regular monitoring and testing mechanisms to ensure compliance across KYC, AML, and outsourcing practices.
o Prepare and present compliance reports to senior management. Key Decisions / Dimensions
Specific area prioritization during field work in terms of what areas to focus on and what testing approach to be used.
Deciding the approach for review; what sample size to take and how to analyse the data. Major Challenges
BFL is a fast-paced growing organization with almost 90 + products. The business processes are changing at a very fast pace, so it is important to keep oneself updated and in fact, try to think ahead of the business.
The compliance requirements are complex and ever evolving hence the need for constant learning and keeping updated of industry developments Required Qualifications and Experience
Educational Qualifications
CA /MBA Fin with 5-8 years of experience
Understanding of operational processes and regulatory requirements
Analytical skills to perform testing
Ability to learn and implement at a fast pace
Work Experience
Candidate is expected to have know-how of regulatory requirements specifically from RBI
Candidate is expected to have a know-how of KYC, AML and Outsourcing Arrangements
Work jointly with a dynamic team of professionals having diversified experience CAs/ MBAs
With various BFL business initiatives candidate need to have agility to adopt to new changes
Employment Type: Full Time, Permanent
Read full job descriptionPrepare for Cluster Manager roles with real interview advice
What people at Bajaj Finserv Health are saying
Cluster Manager salary at Bajaj Finserv Health
reported by
4
employees
with 6-9
years exp.
₹11
L/yr - ₹17.5
L/yr
44%
more
than the average Cluster Manager Salary in India
View more details
What Bajaj Finserv Health employees are saying about work life
based on 193 employees
Flexible timing
Monday to Friday
No travel
Day Shift
Bajaj Finserv Health Benefits
View more benefits
Compare Bajaj Finserv Health with
Star Health & Allied Insurance
Compare
Niva Bupa Health Insurance Company
Compare
HDFC Ergo General Insurance
Compare
ICICI Lombard General Insurance Company
Compare
Care Health Insurance
Compare
Aditya Birla Health Insurance Co
Compare
ManipalCigna Health Insurance
Compare
Future Generali India Life Insurance
Compare
Reliance Health Insurance
Compare
Udaan
Compare
Swiggy
Compare
BlackBuck
Compare
Zomato
Compare
Blinkit
Compare
Myntra
Compare
Ninjacart
Compare
Meesho
Compare
Matrimony.com
Compare
Paisabazaar.com
Compare
FirstCry
Compare
Similar Jobs for you
Share an Interview