Job Description
COMPANY BRIEF:
IDFC FIRST Bank is creating a seamless experience for customers to bank in the way that is most convenient for them anytime and anywhere. When you combine our strengths with our commitment to building best-in-class digital capabilities, we are positioned to serve customers in ways no one else can. At IDFC First, our business and technology teams collaborate to drive technology that is fueling the growth to create value for our customers and our goal is to create a premier digital organization that will lead this company into the future.
Our vision can be captured in three words “Ethical, Digital and Social Good”. We believe we are building an amazing Bank in India, one that’s highly ethical and digital, and one that’s growing wonderfully well with a clear strategy. We are at the set up stage, and hence this place is even more exciting. We tell all our people, you are building a bank, not working in one, and this is a once-in-a-lifetime opportunity.
"Our customer-first philosophy in our motto "Always You First" marks the foundational mission for the bank and employees."
What makes IDFC FIRST Bank unique:
The bank continues to invest in laying a strong, modular and contemporary technology architecture that will help the bank to simultaneously enable efficiency, resilience, and growth. The Bank continues to strengthen its superior capabilities of predictive analytics in the area of credit underwriting, portfolio management, collection strategy, fraud risk mitigation and other such areas.
As a universal Bank, we have launched multiple lines of new businesses such as Fastag, Cash management, wealth management, etc. in addition to the wholesale loans, retail loans, insurance distribution, mutual fund distribution etc. In all businesses, we feel we are yet at the start of the journey. We continue to launch new business lines. Retail Fees constitutes +2% of the total fee income, which points to granularity, and sustainability of this line item.
Our Employee Value Proposition
Our employee value proposition portrays the value and experience you will gain by working at our bank.
• Be part of a winning team.
• Drive change with cutting edge technology.
• Join a work force that is high on integrity.
• Be where growth is not just a number.
• Make a social impact; make a difference to the society.
• Be dynamic, agile, responsive, bold and disruptive.
Job Summary:
As a Principal Nodal Officer at our esteemed Indian Private Bank, you will be responsible for ensuring compliance with all regulatory and statutory requirements, as well as managing customer grievances and disputes in accordance with applicable guidelines. You will serve as the primary point of contact between the bank and regulatory authorities, ensuring effective communication and collaboration. Your role will also involve overseeing and coordinating the activities of Nodal Officers across various locations.
Responsibilities:
1. Develop and implement robust compliance frameworks, policies, and procedures to ensure adherence to all relevant regulatory and statutory requirements.
2. Monitor and stay updated on changes in regulatory guidelines, laws, and directives that may impact the bank's operations, and ensure timely compliance.
3. Serve as the principal point of contact for all regulatory authorities, maintaining a strong relationship and addressing any inquiries, requests, or inspections efficiently and effectively.
4. Coordinate with internal departments to ensure that all necessary reports, documents, and disclosures are submitted to regulatory bodies within prescribed timelines.
5. Act as the central authority for receiving, addressing, and resolving customer grievances and disputes, ensuring adherence to regulatory guidelines and internal processes.
6. Establish a customer-centric approach to grievance redressal, maintaining transparency and promptly resolving complaints to achieve high customer satisfaction.
7. Collaborate with other business units and departments to identify areas of potential compliance risk and develop appropriate controls and mitigation strategies.
8. Conduct periodic internal audits and compliance reviews to assess the effectiveness of existing policies and procedures, identifying areas for improvement and implementing necessary changes.
+. Develop and deliver training programs on compliance-related matters to ensure employees' understanding and adherence to regulations and policies.
10. Oversee and guide Nodal Officers across various bank branches, providing them with necessary support, training, and guidance in grievance redressal and compliance matters.
11. Stay updated on industry best practices and emerging trends in compliance and regulatory affairs, and proactively incorporate relevant changes into the bank's operations.
Qualifications and Skills:
1. Bachelor's degree in Finance, Business Administration, Law, or a related field. A master's degree would be an advantage.
2. Extensive experience (minimum 10 years) in a compliance, regulatory affairs, or similar role within the banking or financial services industry.
3. In-depth knowledge of Indian banking regulations, including but not limited to RBI guidelines, SEBI regulations, and other applicable laws and directives.
4. Strong understanding of grievance redressal mechanisms, customer dispute resolution processes, and consumer protection regulations.
5. Excellent communication and interpersonal skills, with the ability to effectively interact with regulatory authorities, senior management, and customers.
6. Proven leadership abilities with experience in managing and mentoring a team.
7. Analytical mindset with strong problem-solving and decision-making skills.
8. High level of integrity and ethical conduct, with a commitment to maintaining confidentiality and always ensuring compliance.
+. Proficiency in using computer systems and software relevant to the role.
10. Professional certifications or memberships related to compliance and regulatory affairs would be desirable
IDFC FIRST Bank is creating a seamless experience for customers to bank in the way that is most convenient for them anytime and anywhere. When you combine our strengths with our commitment to building best-in-class digital capabilities, we are positioned to serve customers in ways no one else can. At IDFC First, our business and technology teams collaborate to drive technology that is fueling the growth to create value for our customers and our goal is to create a premier digital organization that will lead this company into the future.
Our vision can be captured in three words “Ethical, Digital and Social Good”. We believe we are building an amazing Bank in India, one that’s highly ethical and digital, and one that’s growing wonderfully well with a clear strategy. We are at the set up stage, and hence this place is even more exciting. We tell all our people, you are building a bank, not working in one, and this is a once-in-a-lifetime opportunity.
"Our customer-first philosophy in our motto "Always You First" marks the foundational mission for the bank and employees."
What makes IDFC FIRST Bank unique:
The bank continues to invest in laying a strong, modular and contemporary technology architecture that will help the bank to simultaneously enable efficiency, resilience, and growth. The Bank continues to strengthen its superior capabilities of predictive analytics in the area of credit underwriting, portfolio management, collection strategy, fraud risk mitigation and other such areas.
As a universal Bank, we have launched multiple lines of new businesses such as Fastag, Cash management, wealth management, etc. in addition to the wholesale loans, retail loans, insurance distribution, mutual fund distribution etc. In all businesses, we feel we are yet at the start of the journey. We continue to launch new business lines. Retail Fees constitutes +2% of the total fee income, which points to granularity, and sustainability of this line item.
Our Employee Value Proposition
Our employee value proposition portrays the value and experience you will gain by working at our bank.
• Be part of a winning team.
• Drive change with cutting edge technology.
• Join a work force that is high on integrity.
• Be where growth is not just a number.
• Make a social impact; make a difference to the society.
• Be dynamic, agile, responsive, bold and disruptive.
Job Summary:
As a Principal Nodal Officer at our esteemed Indian Private Bank, you will be responsible for ensuring compliance with all regulatory and statutory requirements, as well as managing customer grievances and disputes in accordance with applicable guidelines. You will serve as the primary point of contact between the bank and regulatory authorities, ensuring effective communication and collaboration. Your role will also involve overseeing and coordinating the activities of Nodal Officers across various locations.
Responsibilities:
1. Develop and implement robust compliance frameworks, policies, and procedures to ensure adherence to all relevant regulatory and statutory requirements.
2. Monitor and stay updated on changes in regulatory guidelines, laws, and directives that may impact the bank's operations, and ensure timely compliance.
3. Serve as the principal point of contact for all regulatory authorities, maintaining a strong relationship and addressing any inquiries, requests, or inspections efficiently and effectively.
4. Coordinate with internal departments to ensure that all necessary reports, documents, and disclosures are submitted to regulatory bodies within prescribed timelines.
5. Act as the central authority for receiving, addressing, and resolving customer grievances and disputes, ensuring adherence to regulatory guidelines and internal processes.
6. Establish a customer-centric approach to grievance redressal, maintaining transparency and promptly resolving complaints to achieve high customer satisfaction.
7. Collaborate with other business units and departments to identify areas of potential compliance risk and develop appropriate controls and mitigation strategies.
8. Conduct periodic internal audits and compliance reviews to assess the effectiveness of existing policies and procedures, identifying areas for improvement and implementing necessary changes.
+. Develop and deliver training programs on compliance-related matters to ensure employees' understanding and adherence to regulations and policies.
10. Oversee and guide Nodal Officers across various bank branches, providing them with necessary support, training, and guidance in grievance redressal and compliance matters.
11. Stay updated on industry best practices and emerging trends in compliance and regulatory affairs, and proactively incorporate relevant changes into the bank's operations.
Qualifications and Skills:
1. Bachelor's degree in Finance, Business Administration, Law, or a related field. A master's degree would be an advantage.
2. Extensive experience (minimum 10 years) in a compliance, regulatory affairs, or similar role within the banking or financial services industry.
3. In-depth knowledge of Indian banking regulations, including but not limited to RBI guidelines, SEBI regulations, and other applicable laws and directives.
4. Strong understanding of grievance redressal mechanisms, customer dispute resolution processes, and consumer protection regulations.
5. Excellent communication and interpersonal skills, with the ability to effectively interact with regulatory authorities, senior management, and customers.
6. Proven leadership abilities with experience in managing and mentoring a team.
7. Analytical mindset with strong problem-solving and decision-making skills.
8. High level of integrity and ethical conduct, with a commitment to maintaining confidentiality and always ensuring compliance.
+. Proficiency in using computer systems and software relevant to the role.
10. Professional certifications or memberships related to compliance and regulatory affairs would be desirable
💡 Quick Summary
Seeking a career-building opportunity? The Principal Nodal Officer position is now open for candidates interested in the Bank Jobs sector. This role in Maharashtra offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Bank Jobs is a plus.
