Key Responsibilities
1. Compliance Monitoring & Risk Management
- Identify compliance gaps, process lapses, and control weaknesses across Vehicle Finance operations.
- Assess compliance risks and drive corrective and preventive actions to mitigate identified exposures.
- Monitor compliance observations and remediation status on an ongoing basis.
- Provide regular updates and reports to relevant stakeholders regarding compliance risk positions.
- Act as the first line of defense to ensure adherence to regulatory and internal compliance requirements.
2. Regulatory Change Management
- Drive implementation of new regulatory requirements within defined timelines.
- Ensure timely incorporation of RBI directives, regulatory guidelines, and compliance mandates into business processes and systems.
- Review, amend, and update policies, SOPs, operational guidelines, and process documents in line with evolving regulatory requirements.
- Coordinate with business and support functions to ensure effective implementation of regulatory changes.
3. RBI Inspection & Compliance Testing
- Review RBI inspection observations and compliance-testing findings.
- Coordinate and ensure timely closure of observations within stipulated timelines.
- Conduct sustenance and effectiveness checks to prevent recurrence of identified issues.
- Drive process and system enhancements to address root causes and strengthen compliance controls.
- Maintain documentation and evidence supporting closure of regulatory observations.
4. Audit Management
- Review and coordinate closure of observations arising from RBI, Statutory, Internal, and Concurrent Audits.
- Ensure audit responses are aligned with relevant stakeholders before submission.
- Track all open audit observations through closure and monitor implementation of agreed action plans.
- Drive process improvements and system enhancements to address audit findings.
- Conduct post-closure sustenance checks to ensure effectiveness of implemented controls.
- Ensure closure of Internal Audit observations within stipulated timelines (preferably within 15 days).
5. Process & System Governance
- Review existing operational processes and recommend improvements in control frameworks.
- Collaborate with Business, Technology, Operations, Risk, and Compliance teams to implement system and process enhancements.
- Ensure system controls are aligned with regulatory requirements and internal policies.
- Support automation and control initiatives to strengthen governance and operational efficiency.
6. Regulatory Reporting & Data Management
- Collate, validate, and submit information required by Compliance, Internal Audit Department (IAD), Vigilance, Regulators, and other stakeholders.
- Ensure accuracy, completeness, and timeliness of regulatory submissions.
- Maintain MIS and dashboards relating to compliance observations, audits, inspections, and remediation status.
- Support management reporting and governance forums with meaningful compliance insights.
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