Roles and Responsibilities
1 Identification of variables which are leading indicators of Risk and of key regulatory and risk reduction programs. 2 Conduct independent audits to ensure each process is complying to the laid rules, internal and regulatory guidelines
3 Recommend changes in the processes which are breaching RBI guidelines 4 One point contact for inputs/ data submission towards compliance monitoring/ testing / various reporting to other regulators / Government Agencies. 5 Ensuring implementation of control for all risks emanating out of regulatory guidelines/processes. 6 Updation of Risk and Control library and publishing MIS for continuous compliance risk assessment & monitoring. 7 Review and closure of audit (internal/ regulatory) requirements and observations. 8 Placing of update to respective MANCOM on regular basis on outstanding compliance issues based on input shared by Compliance. 9 To internally co-ordinate with various other officials / teams / DGU etc for the data/information collation viz. product, business, operations, credit, risk, collection, recovery, etc. required for compliance testing/ RBI inspection etc. Monitor key compliance indicators as may be mandated by the Compliance function. Immediately update relevant assurance function whenever any breach is observed
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