Regulatory Compliance Manager - Banking Sector

About the Role

We are seeking a Regulatory Compliance Manager to oversee adherence to regulatory and supervisory mandates in a banking or financial services context. This position demands proactive tracking and interpretation of regulatory circulars and instructions, liaising with relevant departments to implement these frameworks effectively, and ensuring all compliance obligations are met promptly.

Primary Duties

• Continuously monitor and evaluate RBI circulars, directives, and notifications, interpreting their relevance for various business and operational units.
• Communicate regulatory guidelines clearly to respective teams, including application scope and deadlines for compliance.
• Maintain a centralized archive of regulatory documents and oversee the status of their execution.
• Compile and present compliance progress reports and notes for Audit Committees and Board-level review.
• Track and manage action items arising from Board or Committee meetings, ensuring timely follow-ups with stakeholders for completion.
• Serve as the main contact point for RBI's DAKSH Portal and monitor RBI alerts, observations, and data requests, coordinating responses accordingly.
• Support audits, inspections, and supervisory reviews conducted by regulatory bodies.
• Administer the Compliance Monitoring Tool (CMT) or similar compliance systems, ensuring obligations are met and certification submissions are monitored periodically.
• Produce management information systems (MIS), dashboards, exception reports, and compliance status updates for senior management and Board Committees.
• Collaborate with IT teams to enhance compliance systems and resolve any issues promptly.
• Maintain thorough records of all regulatory communications and evidence necessary for audit and inspection processes.

Required Qualifications and Competencies

• Comprehensive knowledge of RBI rules and banking compliance protocols, including AML/KYC regulations and banking laws.
• Strong abilities in interpreting regulatory requirements and monitoring compliance.
• Excellent coordination and follow-up skills for managing stakeholder interactions.
• Capability to simplify regulatory instructions into precise and clear guidance.
• Proficient in documentation and report preparation.
• Competent in MS Excel and MS Word for data management and reporting.
• Experienced with compliance monitoring systems and tools.
• Effective communicator with strong presentation skills.
• Detail-oriented with a solid commitment to governance and compliance ethics.

Eligibility and Experience

• Possession of a bachelor's degree in Finance, Business Administration, or a related discipline.
• Between 5 to 8 years of relevant experience in regulatory compliance, banking compliance, compliance testing, internal or regulatory audit, or risk management, preferably within banking or financial services sectors.
• Strong grasp of RBI guidelines, AML/KYC norms, and associated banking regulations.
• Professional certifications such as Certified Compliance & Ethics Professional (CCEP), Certified Regulatory Compliance Manager (CRCM), or Institute of Chartered Accountants qualifications are advantageous.