Baroda Global Shared Services - Risk & Compliance Officer

The Compliance Officer is responsible for the overall monitoring, implementation, and operation of BGSSL's compliance system. This role ensures that all applicable laws and regulations are adhered to while maintaining the effectiveness, integrity, and relevance of the compliance program. The Compliance Officer will report directly to Head - Compliance & Assurance and work closely with senior management to ensure a robust compliance framework.

Responsibilities:

Key Responsibilities & Authorities:

Compliance Monitoring & Reporting:

- Devise and implement a proper compliance system to ensure adherence to all applicable laws.

- Submit periodic reports to the Board of Directors regarding the status of the compliance system.

- Present quarterly reports to the Audit Committee/Board on the adequacy and effectiveness of the legal compliance framework.

Regulatory Compliance & Risk Management:

- Promptly report any material compliance failures that may result in significant regulatory or legal risks, such as warnings, restrictions, or show-cause notices.

- Identify areas of deficiencies or non-compliance that may have widespread or recurring occurrences and escalate them to Senior Management and Functional Heads for corrective action.

- Develop and implement compliance testing procedures, including:

- Obtaining and reviewing quarterly test check reports from functional departments.

- Conducting half-yearly audits to ensure adherence.

Corrective & Preventive Actions:

- Ensure prompt rectification of irregularities identified during inspections.

- Monitor and facilitate the implementation of compliance-related guidelines from functional heads across branches/areas.

Liaison with Regulatory & Parent Bank Authorities:

- Ensure full compliance with statutory provisions of various applicable laws governing BGSSL's operations.

- Implement directions and compliance requirements as issued by the Parent Bank from time to time.

Job Related Skills:

- Strong understanding of regulatory compliance, risk management, and legal frameworks.

- Ability to analyze and interpret compliance risks and implement suitable mitigation measures.

- Strong communication and reporting skills to interact with the Board, Audit Committee, and Regulatory Authorities.

- Excellent attention to detail, problem-solving abilities, and ethical judgment.

- Experience in conducting compliance audits, monitoring, and enforcement activities.

Qualification:

- Graduation. (Preferably in law, Finance, Business Administration, or a related field)

- Knowledge of corporate governance and financial regulatory requirements.

- Experience in liaising with regulatory bodies and internal stakeholders.