Vice President/Senior Vice President - Compliance

Key Responsibilities

Reporting to the Compliance Director Asia Pacific within a team of skilled colleagues, Compliance Business Partner India is a key contributor to the departments aim of maintaining an efficient, independent Compliance Function and framework, principally through:

Principal Duties/Responsibilities

1. Identify, Plan and Apply

• Develop, implement, embed and maintain an efficient and independent Compliance Function . (IPA1.1)
• Map the regulatory framework , horizon scan for developments, report and respond to new or changed regulation or legislation within Compliances remit applicable to the Relevant Business. (IPA1.2, IPA1.3, IPA1.4)
• Assess whether policies and procedures, systems and controls fully address regulatory or compliance strategic requirements applicable to the Relevant Business. Develop, implement, embed and maintain an efficient Compliance framework of policies and procedures, systems and controls. (IPA1.5, IPA1.6, IPA1.7, IPA1.8)
• Closure of Compliance owned actions and supporting the closure of regulatory recommendations following internal/external audits. (IPA1.9)
• Identify compliance training needs, develop and deliver compliance training within the Relevant Business. (IPA1.10)
• Identify and assess compliance and regulatory risks in the Relevant Business taking into account relevant internal and external sources of data as well as changes to assessments of other risk types. (IPA2.1)
• Create and deliver an annual Compliance Plan for the Relevant Business. (IPA3.1, IPA3.2, S1.1)
• Appropriate communications to colleagues in the Relevant Business as set out in the Compliance Plan, and on an ad-hoc basis. (IPA4.1, IPA4.22)

2. Support

• Champion Compliance at all levels of the Relevant Business, partnering with the business, support and provide pragmatic risk-based advice and counsel to all appropriate stakeholders as well as provide effective challenge and oversight . (S1.2, S1.7, S1.8, S1.9, S1.10)
• Partnering with business management to define the Compliance strategy for the Relevant Business. (S1.3)
• Provide challenge and oversight on business managements assessment and governance of compliance and regulatory risk . (S1.4, S1.5)
• Provide guidance and advice to business management in developing appropriate 'tone from the top' and awareness of required business conduct and ethical standards, including the Code of Conduct. (S1.6)
• Partnering with the business to review and challenge the design and structuring of specific transactions, new products, services, operational procedures, operational change and initiatives. (S1.11)
• Provide advice, from a compliance and regulatory perspective only, on the design of First Line of Defense quality assurance models . (S1.12)
• Oversight of and support to complaints handlers, handling complaints in rare cases as appropriate. (S1.13)
• Compliance Function ad-hoc strategic or operational projects as requested. (S1.14)
• Record keeping in line with regulatory requirements and/or WTW policies and procedures. (S1.15).
• If mandated by regulation or applicable policies and procedures, provide input to new or approve changes to operating procedures , and give approvals under specific control frameworks . (S2.1, S2.2)
• Investigate suspected, alleged or actual breaches of regulatory requirements or WTW Compliance policies and procedures within the Relevant Business and ensure resolution. Develop corrective action plans and track implementation status for revisions of other compliance-related controls. (S4.1, S4.2)
• Serve as the Money Laundering Responsible Officer for WTW India if and when required. (s3.1)
• Responsible for management of the anti-money laundering program in the Relevant Business; including coordination of annual anti-money laundering training; serve as the key focal point for all activity within the Relevant Business relating to anti-money laundering; responsible for oversight of the Relevant Business' compliance with the regulator's rules on systems and controls against money laundering. (s3.2)
• Serve as the Data Protection Officer for WTW India operations.

3. Monitor

• Carry out monitoring activities in line with the annual Compliance Plan and on an ad-hoc basis, ensuring that remedial action is taken, and material issues, incidents and breaches are escalated to relevant stakeholders. (M1.1, M1.3)
• Support the Excellence function in the performance of selected Excellence Reviews, focusing on compliance with regulatory requirements and Compliance policies/procedures. (M1.2)
• Collate and deliver accurate and appropriate compliance metrics and information to appropriate stakeholders in the Relevant Business and the Compliance Function. Compile and deliver compliance records or information requested by internal/external auditors. (M.2.1, M2.2, M2.3)

4. Engagement

• Maintain effective relationships with regulators and relevant supervisory authorities or self-regulating bodies ; ensure timely submission of accurate regulatory reporting; respond to regulatory information requests and enquiries. Reporting of issues and breaches to applicable regulators where requested or required. (E1.1, E1.2, E1.3, E1.4)
• Represent WTW in relevant industry or similar associations or groups as appropriate. (E2.1)
• Act as a professional, trusted and transparent Business Partner to the Relevant Business and other stakeholders . (E3.1)
• Ensure quality and proactive engagement with the Relevant Business at all levels, by e.g. attending relevant meetings, and supporting the business in meeting its regulatory obligations. Partner with management in the Relevant Business and foster a collaborative approach to embedding compliance culture throughout the business and to support the Three Lines of Defence model . (E3.2, E.3.3, E3.5)
• As a representative of the Second Line of Defence , monitor and facilitate the implementation of effective regulatory risk management practices by operational management in the Relevant Business and assist the risk owners in reporting adequate risk related information up and down the organization. (E3.4)
• Foster close relationships with other Functions including Legal, Risk and Internal Audit. (E4.2, E4.3)

Communications and Relationships

Internal : Strong relationships with compliance and OGC team, trusted relationship with business team and operations.

External: Relevant regulator in India, relevant industry bodies in India.

Strong regulatory and corporate governance knowledge/understanding required.

• Ability to work, both individually and as a team, under pressure to tight timelines and without direct supervision.
• Commercial awareness a commercial and pragmatic approach to managing compliance risks.
• Proactive and a self-starter.
• Organised and methodical.
• Excellent analytical problem-solving skills.
• Strong communication skills, both orally and in writing.
• Excellent interpersonal and influencing skills, with the ability to engage effectively at all levels to promote an effective and business focused compliance culture.
• Commitment to continuous professional development and maintaining excellent understanding of regulatory developments.
• Must be committed to maintaining a robust compliance culture and high ethical standards.
• Always demonstrates high integrity.