Compliance - FEMA Capital Account - Mumbai

Job Description:

The key responsibilities include the following:

Advisory

• Support Business Group by assisting in providing detailed and accurate advisory services and implementation of effective control framework to ensure compliance with relevant RBI regulations pertaining to FEMA- Capital and Current Account transaction. Additionally, acting as back-up for FEMA –Retail Products.
• Assisting relevant stakeholders in implementation of regulations and reviewing the new & variant products/policies and process pertaining to above area and providing compliance advisory thereof.
• Reviewing the letters/correspondence on regulatory matters and ensuring timely follow-ups.
• Assisting and partnering with other compliance peers for critical compliance projects and activities.
• Promptly escalating important matters of concern to the Vertical Lead and CCO.
• Organise training sessions for business stakeholders as required
• Assist the business and inspection team during annual RBS and any thematic regulatory audit, as required.
• Release compliance advisory to business for important developments and clarifications received from the RBI.
• Assist the Vertical Lead in special assignments/ projects where required.

Compliance Testing and Monitoring Reviews:

• Conducting Compliance Business Review (including RBS Tranche III testing) for RBI related regulations- Forex Capital and Current Account transactions.
• Preparing the root cause analysis of critical issues and tracking the actions to remediate the gaps.

• CA/CS/MBA with prior relevant compliance experience > 8 years .
• Should carry a good understanding of FEMA regulations, banking products and processes.
• Should be well versed with recent developments as regards RBI regulations.
• Should have good verbal and written communication skills with an eye for detail.
• Ability to perform under pressure within the given time lines. Should possess good communication / interpersonal / problem solving skills and has to be a quick learner.
• Diligent, hard-working & a team player, with ability to drive outcomes when working with other stakeholders. Proficient in working on MS Office tools.