RBI Regulatory Compliance

Headquartered in Tokyo, Sumitomo Mitsui Banking Corporation (SMBC) is a leading global financial institution and a core member of Sumitomo Mitsui Financial Group (SMBC Group). Built upon our rich Japanese heritage since 1876, we put our customers first and provide seamless access to, from and within the Asia Pacific region.   SMBC is one of the largest Japanese banks by assets and maintain strong credit ratings across our global integrated network.  We work closely as one SMBC Group to offer personal, corporate and investment banking services to meet the needs of our customers.

With sustainability embedded within our strategy and operations, we are committed to creating a society in which today’s generation can enjoy economic prosperity and well-being, and pass it on to future generations.

The candidate will be involved in handling various areas of Compliance as listed down below:-

Handling of Inspections: Handle Supervisory Inspection by Local Regulatory Authorities and coordinate with other departments for smooth completion of the inspection.Liaise with various internal stakeholders and ensure to submit the bank response to local regulatory authorities within the prescribed stipulated period of time.

Handling of regulatory change management : Issue Branch circulars for all the staff members of the India Branches highlighting the regulatory requirements, actionable, timelines etc. Keep a track and strict monitoring of all correspondences with the Regulators and ensure that responses to regulatory authorities are properly submitted within the stipulated period of time.

Handling other Compliance areas: Preparation of Annual Compliance Risk assessment & Compliance Action Plan and put up the same to Management. Post approval by branch management, submit the same to HCO, CPDAP, CCO, CPLD.

Perform compliance testing: Carry out Compliance Head office related Self Reviews and regulatory compliance Testing in line with the approved Compliance Risk Assessment and Action Plan and put up the report with findings to the management in a timely manner.

Impart trainings: Conduct various Training (classroom training, Online training etc) to educate the branch staff on compliance issues followed with test assignments and track until completion.

Manage various Compliance led committee meetings: To arrange for In Office Compliance Committee Meeting on bimonthly basis to discuss significant compliance matters in line with the HO guidelines. Arrange different meetings including Customer Service Committee Meeting etc. coordinate, prepare agenda and minutes.

Review of policies and procedures: Regular review of Policy and Procedure of Compliance Department to ensure that same is updated and amended with the approval of appropriate authority as and when there are changes in regulations/ guidelines.

Preparation of dashboard, MIS, etc: Maintain various MIS and prepare periodic reports in a timely manner. Monitor and manage various approved documents for quick retrieval. Execution and completion of tasks assigned by department Head, controlling office, Regulator etc. in a timely manner. 

Regulatory Compliance: 
•    Stay informed of relevant regulations and industry best practices related to electronic communications surveillance.
•    Ensure compliance with all applicable laws and regulations.
 

 Knowledge, Skills, Experience & Qualifications 
•    Master’s degree in finance, Law, Compliance, or a related field.
•    5-7 years of experience in financial services compliance, surveillance, or a related field.
•    Strong understanding of financial markets, regulations, and industry best practices.
•    Excellent analytical and problem-solving skills.
•    Strong attention to detail and accuracy.
•    Excellent written and verbal communication skills. Should have sound knowledge of Legal and Compliances applicable on foreign banks in India.Should be able to keep track with the external compliance updates and Strong in Microsoft  Word/ Excel/ PowerPoint excel and presentations.