RPMG:CARO

About Retail Portfolio Management Group
The RPMG department focuses on the collections for lending business of the bank including Retail, Rural and Agri and SME Businesses among others. They also provide recovery resolutions for working capital loans and Business loans for Small Businesses and is also responsible for the receivables/collections business of the bank.

About the Role
The Compliance and Risk Officer (CARO) Team is responsible for ensuring the risk and compliance culture within the Retail Portfolio Management Group. Role of CARO function involves taking steps and corrective actions, wherever required, so that the processes within the department are compliant with the regulatory guidelines. Also, CARO team ensures mitigation of potential risks associated with the functions of the department through effective controls. Any gaps in processes or controls are identified and addressed by CARO either by strengthening existing controls or by designing new ones. In addition to this, CARO is also responsible for formulating management action plan (MAP) for internal audit observations, Risk Assessment Review reports resulting from RBI audit, ensuring housekeeping parameters such as review/ renewals, internal rating, EWS and RFA triggers, pending security creation, etc. are within the minimum thresholds, providing regular updates to Senior Management on status of implementation of Risk Mitigation Plan advised by RBI, sharing any new or changes in regulatory guidelines with all members of the department and ensuring facilitation of Compliance testing and RAR sustenance testing by Compliance department. For all the above function CARO team is required to coordinate across cross-functional departments such as Operational Risk, Compliance, Credit Risk, CBO, IAD and F & A.

Key Responsibilities
.Respond to RBI queries during annual RBS audit.
.Co-ordinate for all the activities related to Risk Based Supervision / other regulatory inspections including the submission of data / documents and represent the department for all the queries raised during the RBI inspections.
.Formulate responses to RAR observations from RBI in coordination with various Business Segments and Credit Underwriting,
.Keep abreast with the regulatory changes and ensure dissemination and Implementation of regulations / amendments / actionable/ compliance communication in line with the milestones committed and within the timelines prescribed by regulators / internal timelines.
.Supervise activities of CARO team members which includes various financial reporting. monitoring of Key Risk Indicators and Key Compliance Indicators, assessment of all Risks and associated control, timely and vetted response of regulatory/ statutory correspondence to Compliance Department for onward submission, facilitation of Operational Risk and Financial Risk walkthrough, Remediation of operational risk issues and control gaps, responses to audit observations.
.Design new processes/ controls to address gaps highlighted by Operational Risk after risk assessment exercise and IAD after audit review.
.Review of Policies pertaining to Retail Lending and Collections in alignment with the regulatory guidelines
.Monitoring the Compliance Risk / Operational risk dashboards / risk movements of assessment units and flagging of the concerns to Head of the Department.
.Monitor parameters such as review/ renewals, internal rating, EWS and RFA triggers, pending security creation, etc. and ensure they are done within due dates so that the overdue cases are within the minimum thresholds,
.Provide regular updates to Segment Heads and Senior Management on status of implementation of Risk Mitigation Plan advised by RBI through weekly dashboards and bi-monthly RMP meeting with all Department Heads and MANCOM members.

Qualifications
Optimal qualification for success on the job is:
.Education (CA / MBA from Tier 1 Institute)
.Experience (12-15 yrs in Banks Retail Credit, Collections, Compliance or Internal Audit for Retail Lending, Risk )
Role Proficiencies:
.In-depth knowledge of key drivers and indicators in the relevant sectors
.A solid understanding of financial statements, ratios
.Understanding of compliance, regulatory norms and operating procedures
.Good relationship management and strong communication and presentation skill