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Risk & Compliance Officer

3-8 years

Gandhinagar

2 vacancies

Risk & Compliance Officer

Baroda Global Shared Services

posted 7hr ago

Job Description

Job Summary: The Compliance Officer will be responsible for ensuring adherence to regulatory requirements, internal policies, and compliance frameworks. The role involves monitoring and evaluating internal processes, coordinating regulatory approvals, and ensuring compliance with guidelines set by the Reserve Bank of India (RBI) and other regulatory bodies. The Compliance Officer will also assist in risk management and business continuity planning to maintain operational integrity.


Note: We are NOT looking for Company Secretary profiles.

Job Title: Risk & Compliance Officer

Location: GIFT City, Gandhinagar, GJ.
Department: Compliance
Reporting To: Head Compliance & Assurance


Key Responsibilities:


Regulatory Approvals & Compliance:

  • Ensure all internal and regulatory approvals are in place before seeking Parent Banks approval for new processes/initiatives.
  • Ensure RBI approval is obtained before implementing any new process or initiative.
  • Maintain compliance with all prerequisites stipulated by the regulator.

Regulatory and Contractual Compliance:

  • Ensure compliance of Master Service Level Agreements (MSLAs) and Partner Service Level Agreements (PSLAs) with all applicable regulations.
  • Conduct periodic reviews to align policies, Standard Operating Procedures (SOPs), and guidelines with regulatory requirements.

Monitoring & Compliance Assessment:

  • Conduct timely test checks on outsourced activities to ensure adherence to internal policies and RBI guidelines.
  • Monitor compliance-related violations, incidents, and investigations, coordinating with relevant internal and external departments for resolution.
  • Facilitate the development and maintenance of a risk management framework by supporting relevant teams in identifying, measuring, and mitigating risks using Key Risk Indicators (KRIs).

Audit & Regulatory Reporting:

  • Ensure timely redressal of issues raised by Risk-Based Supervision (RBS), Audit Observations, Zonal Internal Audit Department (ZIAD), Central Internal Audit Department (CIAD), or any other regulatory authority.
  • Assist in the preparation and submission of requisite compliance reports to regulatory authorities and senior management in a timely manner.
  • Support periodic risk assessments and internal audits to maintain regulatory adherence. (Risk Management Dept. to conduct risk assessments)

New Business & Product Review:

  • Review new business initiatives and products, collaborating with risk management, control, and business teams to ensure compliance before implementation.

Business Continuity & Compliance Support:

  • Facilitate Business Continuity Plan (BCP) drills as per regulatory and internal requirements.
  • Collaborate with Risk Management Department in preparing regular risk management reports for stakeholders, senior management, and the Board.

IT Security Governance:

  • Collaborate with senior management to establish and maintain IT security governance frameworks.
  • Monitor adherence to internal IT security policies and procedures.
  • Support the enforcement of access control policies, data protection measures, and secure system configurations.

Incident Management:

  • Assist in investigations of security breaches and compliance violations.
  • Support coordination of response actions for IT security incidents and ensure timely reporting to regulatory bodies if required.
  • Recommend corrective and preventive measures post-incident.

Key Skills & Competencies:

  • Strong knowledge of RBI regulations and financial compliance frameworks.
  • Excellent analytical and risk assessment skills.
  • Attention to detail with strong problem-solving capabilities.
  • Ability to coordinate and collaborate with cross-functional teams.
  • Strong written and verbal communication skills.
  • Ability to handle regulatory audits and stakeholder expectations effectively.

Qualifications & Experience:

  • Bachelors or Masters degree in Finance, Law, Business Administration, or a related field.
  • Minimum 3-5 years of experience in compliance, risk management, or regulatory affairs within the banking or financial sector.
  • Prior experience in handling RBI regulatory requirements and audits is preferred.
  • Professional certifications such as Financial Risk Manager (FRM) would be an advantage

Note: The responsibilities outlined above are indicative and may change based on organizational requirements and regulatory updates.


Employment Type: Full Time, Permanent

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Day Shift
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Baroda Global Shared Services Benefits

Health Insurance
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