Details of the Organization

Mashreq will never ask for your bank related information via phone call, SMS or email. They will also never contact you from a mobile number to resolve your query.

Details of the Job/Internship

Mashreq is hiring for the position of Assistant Vice President Compliance with 15-20 years of experience to join their office in Mumbai.

Role and Responsibilities

1. Compliance Management:

• Support the Head of Compliance & Bank MLRO in managing the overall Compliance Program for India.
• Ensure adherence to regulations issued by the Reserve Bank of India (RBI) and ensure that internal policies align with external regulatory requirements.
• Conduct Compliance Risk Assessments (CRA) annually, identifying risks from a compliance perspective across various domains.
• Develop and maintain compliance-related documentation, including country-specific addendums, aligned with local regulations.

2. Regulatory Engagement & Reporting:

• Act as a liaison during regulatory inspections (on-site/off-site) and work with regulators to ensure timely and accurate delivery of expected outcomes.
• Ensure timely submission of compliance-related reports and returns to RBI and engage with stakeholders to ensure all regulatory requirements are met.
• Manage the submission of regulatory returns and reports in a manner that aligns with RBI's expectations.

3. Anti-Money Laundering (AML) & Financial Crime Risk:

• Monitor and review AML transaction alerts, conduct enhanced due diligence, and report suspicious activities to the Financial Intelligence Unit (FIU-IND).
• Conduct regular reviews of AML thresholds, transaction monitoring scenarios, and country risk updates.
• Screen customer transactions against sanctions lists and ensure compliance with applicable regulations.
• Perform Financial Crime Risk Assessments (FCRA) in consultation with the Head Office, in line with the Group Compliance Policy Framework.

4. Compliance Monitoring & Training:

• Conduct quarterly Compliance Monitoring Reviews based on the approved annual plan.
• Identify compliance issues and work with stakeholders to implement remediation plans.
• Develop and conduct compliance training sessions for employees, covering KYC, AML, and sanctions-related topics.
• Raise awareness on the importance of compliance, ensuring staff understand their responsibilities and obligations.

5. Project Management & Automation:

• Lead and manage compliance-related automation projects and collaborate with technology teams to ensure successful implementation.
• Assist in the successful completion of User Acceptance Testing (UAT) for automation initiatives.

6. Collaboration & Stakeholder Management:

• Maintain strong relationships with internal stakeholders, providing advice on compliance-related issues and facilitating timely solutions.
• Collaborate with business and other compliance functions to ensure smooth and effective compliance operations.
• Provide timely updates and reports to the Head Office on compliance-related matters as required.

Eligibility

• Experience: 15-18 years of experience in banking compliance, preferably with a focus on AML/Sanctions compliance.
• Education: A professional degree or qualification in business, commerce, economics, or law.

Skills & Knowledge:

• In-depth understanding of regulatory compliance in the banking sector, specifically for foreign banks operating in India.
• Strong grasp of RBI regulations, AML, KYC, and financial crime risk management.
• Proven experience in compliance monitoring, risk assessments, and regulatory reporting.
• Strong communication and interpersonal skills, with the ability to engage effectively with senior management and regulatory authorities.

Salary/Stipend

Compensation details will be finalized during the interview process with the selected candidate.

Type of Opportunity

Fulltime

Country

India

Address

Mumbai, Maharashtra, India.

Application and Registration Details

After you submit your application, you will receive the next steps in the process via email. Please follow the instructions provided to complete your application.

Incase you find any issue with the application process, please contact: [email protected] 

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