IFMR - Senior Process Analyst

Job Description – Senior Process Analyst

IFMR Rural Finance (www.ruralfinance.ifmr.co.in). is a technology-process company which licenses out its KGFS Brand along with the required technology, processes and tools to build community focused small financial institutions that serve remote rural communities in defined geographies (typically two Districts of India). While the licensees ( KGFSs) are not banks themselves, like regular banks they operate through branches located inside remote villages and have the ability to offer comprehensive savings and loan services to both individual consumers as well as local businesses and local governments. But, unlike regular banks, these institutions also offer a full range of financial services (savings, loans, investments, insurance, risk management, pensions) and use an internally developed wealth management approach that is an integral part of the manner in which they serve the local community – they even had to write their own textbook for this – Financial Engineering for Low Income Households (Financial Engineering for Low Income Households).

The organization thus far has 6 licensees which, between them, reach 12 Districts and serve about ~ 500,000 families in three States of India (Tamil Nadu, Uttarakhand, and Orissa). In order to support the rapid growth plan of the existing licensees as well on-boarding of new licensees in new geographies, we are looking to expand out our Wealth Management, Risk Management, Technology and Training teams.

The Senior Process Analyst embodies the service-delivery function of Rural Finance. At the most basic level, this role is responsible for providing support, leadership, facilitation and implementation of standardized processes that are compliant to regulations across all process and functions. These capabilities will be driven into the project structure through various business efforts. The Senior Process Analyst will display innovation and an ability to conceptualize new processes to benefit the KGFS as well as leverage existing business processes to provide enhanced business capabilities.

Responsibilities

1. Compliance

- Have a strong grasp and understanding of RBI guidance and regulations and ensure that all processes are compliant with the same.

- Understand Rural Finance Licensing and Brand compliance directives to ensure that process interactions within KGFS and their customers are consistent with those directives.

2. Support

- Collaborate with KGFSs and Rural Finance internal teams (Wealth Management, Technology, Risk Management, Training and Brand) to drive toward process compliance across KGFs and Rural Finance and create appropriate levels of standardization and variations, and ensure process integration as needed.

- Develop and implement internal tools and reports to monitor process adherence to regulations and brand directives.

- Communicate to the KGFS leadership the results of process audits and process improvement discussions

- Identify trends and quality testing observations and effectively report summary results to management. Support the KGFS internal audit teams and external audit teams as needed.

- Function as a key contributor with demonstrated knowledge of RBI regulations, as well as broader functional knowledge in financial services

- Participate in the development of goals and execution of strategies within the function or department

- Participate on special ad-hoc projects as needed

Qualifications

- Bachelor’s degree

- Previous experience in the Financial Services industry reviewing banking transactions (3-5 years)

- Understanding of RBI regulations is a must

- Audit and/or Compliance experience a plus

- Familiarity with the firm's internal systems and processes a plus

- Familiarity with industry compliance practices and tools a plus

- Strong analytical, written and verbal communication skills

- Self-Starter

- Proven record of time management

- Proficient in the Microsoft suite of products

- Strong interpersonal skills & team player

- Adept to a rapidly changing environment and adept at multi-tasking

- Results and deadline driven

- Strong attention to details