Job Description

Position Purpose
Local Finance - Regulatory Governance and Controls
Process and New Product assessment, improvisation and Audit management.
The role ensures that regulatory reporting is performed in line with the firm's policies & procedures applicable accounting standards, and regulatory expectations, while maintaining rigorous control frameworks, data quality standards and continuous process improvement.
Responsibilities
Policies and Procedures

• Create and maintain the local Regulatory Accounting and Reporting Policies.
• Periodically review and update policies to reflect regulatory changes or process enhancements.
• Ensure with the regulatory reporting team members that all reporting activities comply with the latest internal policies and RBI/Central Bank circulars.

Accounting Norms and Product Schema through NAC/TAC Management

• Own the accounting and reporting treatment matrix for all product families (loans, deposits, trade finance, derivatives, securities, NPA related items, etc.) from regulatory point of view
• Validate that the General Ledger schema, chart of accounts and mapping to regulatory data fields are consistent with Ind AS/IFRS and RBI guidelines
• Liaise with Product, Treasury and Risk to capture new product roll outs and reflect correct accounting codes in the regulatory reporting engine.

LoD2 for Regulatory Reporting

• Act as the second line of defense - design, document and execute control activities that mitigate reporting risk.
• Review and sign off on data lineage, model assumptions and materiality thresholds before submission to regulators.

Control Testing, Design and Implementation

• Develop and maintain a Control Testing Framework (risk based testing plan, test scripts, defect tracking).
• Perform periodic design effectiveness and operating effectiveness tests on key controls (e.g., regulatory adherence, data reconciliation, segregation of duties, approval workflows, systems access etc.).
• Report test results, remediate gaps and monitor remediation progress.

Support Audits & Regulatory Inspections for Finance

• Support CFO and Head of Regulatory reporting, for data extracts and explanatory notes for internal auditors, external auditors and RBI inspection teams.
• Respond to audit queries, provide evidence of control design/operation and provide assurance on regulatory adherence to the auditors and inspectors.

Regulatory Watch

• Continuously monitor RBI circulars, notifications, and industry wide regulatory developments related to Finance
• Assess impact on local reporting obligations; produce impact assessment briefs and update the team on upcoming changes.

Regulatory Reporting Governance, Data Quality & Process Efficiency

• Govern the Regulatory Reporting Register - maintain deadlines, ownership, version control and status.
• Implement a Data Quality Framework (validation rules, exception handling, audit trail retention).
• Lead process improvement initiatives - automation (RPA, SQL/Python scripts), workflow redesign, reduction of manual touch points and measurement of efficiency gains.

Technical & Behavioral Competencies

• Expert Knowledge of RBI regulations
• Stakeholder management
• Communication & Influence
• Focus on Solution and Efficiency based approach

Education Level: CA
Experience Level: At least 10 years
Other/Specific Qualifications: 10+ years of work experience within banking industry across or in roles related to Regulatory Accounting & Reporting or Compliance

Skills Required