VP | Team Lead | Regulatory Reporting

Job Purpose

Responsible for local financial accounting, financial reporting & Regulatory reporting. The incumbent is expected to independently manage the said section.

Key Accountabilities
• Responsible for Local financial accounting, financial statement preparation and reporting to RBI
• Coordinate with Statutory, RBI, Internal audit for audit closure.
• Ensure correct and timely submission of RBI returns.
• Drive and Nurture the control environment so as to ensure correct financial and regulatory reporting.
• Drive the automation required in the area of RBI reporting & local financial reporting.
• Partner with business by providing correct and timely insight to new regulations and its implication, support new product launch for regulatory and accounting areas.
• Be an active member on the Regulatory Governance group of the bank to enhance the overall compliance culture within the bank.
• Drive Process improvement within the section.
• Drive timely updating of Department Operating Instruction (DOI).
• Mentor team for higher level of roles and commitment.

Job Duties & responsibilities
• Plan and execute new reporting requirement in financial statement and RBI reporting.
• Review the RBI reporting for timely completion and accuracy.
• Update self with new changes in relevant regulations and accounting norms.
• Undertake impact analysis of the above changes and put up for review of the relevant stake holder.
• Take active part in implementation strategy and monitoring of new process arising from new regulations, product introduction.
• Review and analyse the GAAP difference in IFRS and local accounting.
• Provide ideas for value add on various regulatory parameters impacting the banking business.
• Provide input on various strategic initiatives within the department and bank.
• Ensure that DOI is updated all times for the processes within the department.
• Ensure necessary control breaches are highlighted in risk matrix and corrective action are undertaken.
• Ensure all audit issues are duly responded and corrective action taken.
• Increase productivity through automation/process re-engineering to achieve standardization.
• Mentor team; engage with team to build commitment, set goals, monitor performance and identify training needs of staff & self.
• Sharing knowledge and information with other Groups within Finance.
• Promote Staff learning through training, on the job learning, thereby gearing staff for higher responsibility.
• Support tax team with relevant data as called upon.
• Develop business MIS basis the regulatory report database.

Required Experience
• Minimum 12 yrs experience with about 4 to 5 years in a similar capacity in mid size bank.
• Comprehensive exposure to RBI Regulations, Accounting standards, Banking products, systems, business and control processes;
• Sound knowledge of the overall banking environment and applicable regulations;
• Conversant with the various accounting norms (local / IFRS).

Education / Preferred Qualifications

Chartered Accountant.

Core Competencies

· Strong team leader with clear thoughts.

· Decision taking abilities.

· Consistency, efficiency and standardisation of processes and controls.

· Strong inter-personal skills.

· Issue resolution skills

· Performance and Results Orientation

· Change / Innovation management

· Good teamwork

Technical Competencies

· Sound knowledge of RBI regulations, Companies Act, Indian accounting standard, IFRS.

· Sound understanding of banking products across all segments;

· Exposure to various processes and controls in an automated reporting environment.

· Good communication and presentation skills

· Proficiency in MS Office and particularly in Excel

Work Relationship

· Strong working relationship with all units in India and within the Finance department itself;

· Interaction with RBI and compliance team