Compliance Testing Officer
YES BANK · Mumbai Metropolitan Region
- On site
- Full-time
- ₹1,200,000 / year
- Mumbai Metropolitan Region
Job highlights
- Conduct compliance reviews for bank functions and products.
- Develop and update compliance review plans and checklists.
- Manage a team to ensure timely review completion.
- Prepare and finalize compliance review reports.
- Track and ensure closure of compliance issues.
About the role
Compliance Testing Officer at YES BANK
Objective: The incumbent would be primarily responsible for conducting Compliance reviews of the Bank’s functions and new products to provide reasonable assurance to the Management regarding compliance with regulatory norms.
Responsibilities:
- Preparation of Compliance Review plan to be presented to the Board.
- Preparation and updating of Compliance review checklists in line with regulatory guidelines/internal policies.
- Managing the Compliance Review team to ensure that compliance reviews are completed as per the Compliance review plan.
- Undertaking field work and ensuring that the review is completed within the prescribed timelines.
- Preparation of Draft Compliance Review report and discussing the same with the relevant stakeholders.
- Obtain responses from stakeholders and preparation of the Final Compliance Review Report.
- Ensure proper documentation and working papers are maintained for all compliance reviews conducted.
- Preparation of an Open Issue tracker for Compliance Review Reports issued.
- Follow up with management towards the closure of compliance review open issues.
Essential Competencies:
- In-depth knowledge of the regulatory environment for banks in India, particularly the Reserve Bank of India (RBI).
- Good research capabilities and intelligent interpretation of regulatory guidelines.
- Good knowledge of all elements (commercial, operational) of banking areas such as Trade, Remittances, Treasury, Loans & Advances, etc.
- Good interpersonal skills.
- Demonstrated ability to drive results and be very effective.
Key skills/competency:
- Compliance Testing
- Regulatory Compliance
- RBI Guidelines
- Banking Operations
- Risk Management
- Audit
- Documentation
- Reporting
- Team Management
- Stakeholder Management
Skills & topics
- Compliance Testing Officer
- Compliance
- Banking Regulations
- RBI
- Audit
- Risk Management
- Financial Services
- Regulatory Compliance
- YES BANK
- India
How to get hired
- Tailor your resume: Highlight specific experience with Indian banking regulations and RBI guidelines, emphasizing your compliance testing accomplishments.
- Showcase relevant expertise: Detail your knowledge of banking operations like Trade, Remittances, Treasury, and Loans & Advances.
- Demonstrate research skills: Prepare to discuss how you interpret and apply complex regulatory guidelines effectively.
- Highlight leadership potential: Emphasize any experience managing teams or driving projects to completion within set timelines.
- Research YES BANK: Understand their commitment to compliance and how this role contributes to their overall integrity.
Technical preparation
Master RBI guidelines and Indian banking laws.,Study trade finance and loan advance operations.,Familiarize with compliance review methodologies.,Practice interpreting complex regulatory documents.
Behavioral questions
Describe a time you ensured regulatory adherence.,How do you handle conflicting stakeholder feedback?,Detail your experience managing compliance projects.,How do you stay updated on regulatory changes?
Frequently asked questions
- What specific banking regulations should I be familiar with for the Compliance Testing Officer role at YES BANK?
- For the Compliance Testing Officer position at YES BANK, a deep understanding of Indian banking regulations, particularly those issued by the Reserve Bank of India (RBI), is crucial. This includes knowledge of operational aspects of various banking functions like Trade Finance, Remittances, Treasury operations, and Loans & Advances.
- How does YES BANK ensure compliance with regulatory norms for new products?
- YES BANK ensures compliance with regulatory norms for new products through rigorous compliance reviews conducted by officers like yourself. This involves assessing the product against existing regulations, preparing necessary documentation, and ensuring that all stakeholders understand and adhere to the compliance requirements before launch.
- What is the typical process for conducting a compliance review at YES BANK?
- The typical process for a compliance review at YES BANK involves preparing a compliance review plan, updating checklists based on regulatory guidelines, conducting field work, discussing draft reports with stakeholders, obtaining their responses, and finalizing the report. Maintaining proper documentation and tracking open issues for closure are also key steps.
- Can you describe the importance of documentation and working papers in this Compliance Testing Officer role?
- Proper documentation and working papers are essential for the Compliance Testing Officer role at YES BANK. They serve as evidence of the reviews conducted, support the findings in the reports, and are critical for audit trails and future reference, ensuring transparency and accountability in the compliance process.
- How does the Compliance Testing Officer at YES BANK contribute to the bank's overall management and integrity?
- The Compliance Testing Officer at YES BANK provides reasonable assurance to management regarding adherence to regulatory norms. By identifying potential compliance gaps and ensuring their timely closure, this role plays a vital part in safeguarding the bank's reputation, preventing regulatory breaches, and upholding overall integrity.