Vice President - Business Compliance

Role Accountability-

1. Formulate and execute a compliance program including machanisms to track regulatory risks and policy compliance to provide pro-active Regulatory and Statutory Compliance support to the business
2.Lead the regulatory examinations/inspections/audits by regulatory bodies
3.Identify emerging Compliance trends, including related regulatory and policy issues that may impact the business
4. Sustain the Compliance Operating Model/program for the business by ensuring timely reporting of metrics to internal committees
5.Monitor functional compliance of all functions within the business & timely closure of actionables by functions
6. Support business growth by partnering with business on new product introductions, marketing proposals, customer communications, marketing material etc. to help identify & resolve any Compliance related risks
7.Work with Sales, Risk, Marketing and the other functional teams to ensure their processes & practices are in compliance with local law regulatory requirements, internal company requirements or Corporate policies & procedures
8.Monitor industry compliance activities and other trends (external and internal) through appropriate early warning systems in order to take pre-emptive actions
9.Support the business leadership in driving organizational understanding & adherence to business specific policies & procedures in consultation with Business Compliance Leader
10.Support the business in complying with the various laws and regulations applicable to the Business including but not limited to RBI, SEBI, IRDA, TRAI, UIDAI, FIU-IND etc. & NBFC guidelines and regulations/licenses that may be required to conduct business and/or regulatory requirements and any other emerging risk areas related to local laws/policies
11. Ensure compliance to statutory requirements for locations pan India including S&E/Trade license registrations, renewals, amendments thereof, CLRA registrations and amendments etc.
12. Ensure timely addressal and response on the regulatory/statutory notices received from regulators and statutory authorities
13. Adapt and lead the roll-out and implementation of policies, regulatory excellence and other compliance initiatives, including identifying key Critical-to-Compliance parameters, determining residual risk and improving controls
14. Conduct the Annual Compliance Risk Assessment for the business and present the results to relevant Board Committee and senior management forums
15. Provide periodic certifications to the relevant Board Committees and parent entity on the Compliance status of the business
16. Coordinate with relevant business owners to define gaps/identify and resolve Compliance-related procedural issues and areas of improvement and ensure remediation actions plans are established, implemented and tracked through to closure
17. Evaluate and review critical SBI Card policies, processes, procedures & practices from Compliance standpoint
18.Oversee process documentation and compliance adherence

Measures of Success(Define the Outcomes expected of the role)-

1.No significant regulator penalties/fines
2.Implementation of regulatory guidelines withing specified/agreed timelines
3.Timely closure of compliance observations by functions
4.Feedback from business stakeholders (Non Measureable)
5.No significant observations in Internal / external audit
6.Process Adherence as per MOU

Technical Skills / Experience / Certification (If any)-

1.Experience directing and leading the implementation of key Compliance initiatives and projects is desirable
2.Strong grasp of code of conduct, business ethics policies and current compliance practices and industry standards in a relevant services space

Competencies critical for role with High Proficiency-

Stakeholder Management
Problem Solving
Business Acumen
Influencing skills
Process Orientation

Relevant Experience with respect to the role-

8 - 10 years of experience in managing Regulatory & Business Compliance

Preferred Industry(If any)-FSI