Manager / Senior Manager – Compliance Risk Assessment

Role: Manager / Senior Manager – Compliance Risk Assessment
Function: Compliance – Regulatory Change Management
Location: Mumbai (Andheri East) office working
Role Overview
The role primarily supports the Compliance function in compliance risk assessment activities. The incumbent will assist in identifying, assessing, documenting, and monitoring compliance risks arising from regulations, business activities, and process changes.
The role involves close coordination with business and control owners, maintenance of risk assessment artefacts, and support in ensuring that compliance risks are identified early and mitigated effectively.
Key Responsibilities
1. Compliance Risk Assessment (Primary Focus)
Devise and periodically review compliance risk assessment methodology and parameters to enhance the model and drive the execution across the bank
Assist in identifying inherent and residual compliance risks arising from regulatory requirements, business activities, and operational processes.
Engage with stakeholders to ensure timely completion of control documentation for identified compliance risks
Assist in assessing adequacy of control effectiveness (design and operating) and mitigation measures
Update and maintain compliance risk assessment tools, templates, and systems with accurate and timely information to drive the holistic usage of all modules by the stakeholders to ensure right parameters are considered for assessment
Support periodic and trigger‑based compliance risk assessments (including those arising from regulatory changes, audits, or incidents).
Help analyse assessment outcomes to identify high‑risk areas, emerging risks, and control gaps.
Track remediation actions agreed with control owners and follow up on timely closure.
Analyse the outcome of periodic compliance risk assessment and engage with the stakeholders to improve upon the outcome by engaging for remediation measures
Act as a compliance advisor to business and compliance teams for decision-making based on compliance assessment outcome
Escalate material risks to senior management with actionable recommendations
2. Regulatory Change–Driven Risk Assessment
Support review of new / amended regulatory circulars and assist in identifying compliance risks arising from regulatory changes.
Help coordinate with stakeholders to assess impact, document risks, and update controls for new regulations.
Maintain linkages between regulatory requirements, risks, controls, and action plans.
3. Reporting, MIS & Governance Support
Prepare periodic MIS and dashboards covering compliance risk assessment status, key risks, overdue actions, and trends.
Assist in preparation of materials for internal governance forums.
Maintain structured documentation and audit trails for compliance risk assessments and reviews.
Support ongoing enhancement of risk assessment processes and data quality.
Qualifications & Experience
CA/ CS/ MBA / Law Graduate with prior experience of 3 to 5 years in compliance, risk management, internal audit, consulting, or regulatory roles within banking / NBFCs.
Strong understanding of compliance risk assessment frameworks / concepts and control reviews
Ability to interpret regulatory requirements and translate them into risk and control considerations
Should be well-versed with key financial sector regulations (RBI, SEBI, NPCI, etc.)
Good verbal and written communication skill with attention to detail
Ability to work under pressure within the given timelines.
Possess good communication, interpersonal, problem-solving skills and Willingness to learn, take ownership of assigned areas, and work under guidance.
Diligent, hard-working and team player, with ability to drive outcomes by engaging with multiple stakeholders.
Proficiency in MS Office Tools.