Job Description
Role Accountability 1. Formulate and execute a compliance assurance plan that includes regulatory risks and ensure compliance to applicable laws, regulations and policies
- Create an assurance framework and implement appropriate procedures that provide assurance to senior management
- Perform risk-based assurance testing for multiple functions within organization, focusing on regulatory & statutory compliance, internal compliances and business process review to highlight non-compliance and process gaps/deficiencies
- Carry out monthly assurance of organization level compliance programs
- Correlate business risks and priorities with Compliance assurance plan to enhance effectiveness of the program
- Highlight and discuss the issues/observations with concerned functional stakeholders to agree on appropriate action plans, ensuring they understand the issues and their ownership of Compliance
- Prepare assurance reports and share with concerned SMTs in a timely manner
- Follow up and ensure closure of issues/observations identified with review of correction action taken by business/function
- Collaborate with key stakeholders including senior management, function stakeholders for simplification and process improvememts
- Proactively identify potential non-compliance and control gaps and suggest ways for process improvement
- Present the review results, the rationale for findings, risks posed and action required to address the risks to senior management and committees
- Provide input to the risk assessment of business units/functions for inclusion in their first line monitoring program
- Interpret internal policies, procedures and applicable laws and regulations that impact the business unit/function and implement changes if required
- Scan the market to identify industry best practices in assurance and analyze feasibility of adoption within SBI Card
Measures of Success(Define the Outcomes expected of the role) 1. Completion of assurance testing as per the plan
- Timely Closure of issues identified & agreed during testing
- Process adherence as per MOU
Techinical Skills / Experience / Certification (If any) Understanding of Regulatory & Statutory compliances applicable to business
Competencies critical for role with High Proficiency Analytical Ability
Detail Orientation
Problem Solving Skills
Process Orientation
Key External Stakeholder(s) SBI
Key Internal Stakeholder(s) All functions (SMT & Board Reporting)
Must have Qualification CA/CS/CIA/ MBA
Over All experience in role 10-12 years of experience
Relevant Experience with respect to the role 6-8 years of experience in business process reviews, internal audit, compliance & testing, audit background
