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Function Description:
Analyst, Compliance will report directly into the Manager, Compliance for American Express Banking Corp. and will work with Regulators, External Advisors, Compliance teams in India and internationally as well as business teams across the Bank and its affiliates.
Responsibilities:
Relationship Management with RBI
•Build strong relationships with various RBI departments (DOS, DPSS, DOR, CSITE and others) to understand RBI expectations of AEBC India and provide guidance to internal stakeholders
•Participate in and representing the views of AEBC India in regulatory and industry forums, councils and associations
•Leverage industry knowledge to provide guidance to AEBC India regarding its proposals, communications to be sent to the regulators
•Coordinate RBI audits / exams to ensure the exam is well managed and any regulatory findings are closed to the RBI’s satisfaction
Regulatory Change Management
•Analyze impacts of proposed regulation to AEBC based on knowledge of RBI’s regulatory expectations. Provide input to AEBC’s responses in the form of proposals or position papers.
•Provide guidance to internal stakeholders on interpretation of regulations and guidelines issued by various regulators
•Provide guidance and support to business team in development of controls for new product/service projects
Governance
•Participating in governance and risk committee meetings to inform them of the Compliance Risks facing AEBC
•Provide compliance perspective on AEBCs policies and procedures
•Contribute to Compliance Assessment of quarterly and annual Control & Compliance Rating of AEBC
Purpose of the role:
•Develop and maintain an effective compliance program consistent with local market's requirements
•Ensure that business activities are aligned to American Express Company compliance program and local regulations in local market
•Promote and disseminate compliance information, encourage behaviors that integrate compliance values into business practices and continually reinforce personal responsibility for compliance to all staff
•Implement policies and procedures to achieve compliance at levels consistent with company standards
•Develop and revise local business procedures in line with relevant company policies and local requirements
•Develop compliance training program for the market and ensure training program is executed
Critical Factors to success:
•Develop relevant compliance training materials and assist management in promoting staff awareness of compliance requirements, in partnership with the designated compliance champions and training department as appropriate and ensure available resources to support execution
•Review and monitor (leveraging on subject matter experts and/or other professional, as appropriate) local market's blue box business activities to assess adherence to compliance standards and report deficiencies (gaps reporting) to management for corrective actions
•Maintain central repository of all legal entity line of business compliance manuals, policies, local legal inventory, and central list of all governing status, regulation, policies and other material related to respective compliance program
•Performing other duties as assigned
Academic Background:
•Post Graduate degree from a recognized university.
•CAIIB/CA/CS/LLB/LLM/Doctorate or any combination of relevant education and experience and/or related professional designations/certifications in this field are highly desirable.
Past Experience:
•8+ years’ work experience as a subject matter expert in Regulatory Compliance within large banks or payment operators.
•Experience in working with regulatory bodies will be an added advantage Essential Skills.
Technical/Function skills:
•Strong knowledge of Banking Regulations Act, Credit cards, Prevention of Money Laundering Act and other laws applicable to Commercial Banks and Payment Operators
•Ability to work in a self -directed and remote environment
•Demonstrated ability to draft clear and professional correspondence and other documents of a legal, compliance and business nature
Behavioral skills:
•Excellent analysis and problem-solving skills
•Demonstrated ability to appropriately work with confidential information
•Ability to articulate and convey complex, conceptual information to various audiences verbally and in writing