To apprise the Board and senior management on regulations, rules and standards and any further developments.
• To provide clarification on any compliance related issues.
• To report promptly to the Board/MD about any major changes / observations relating to the compliance risk.
• Work as a liaison between the bank and regulatory agencies regarding compliance matters and investigations
• Lead the NRFSI Compliance committee and ensuring periodical review with respect to the regulatory activities, trainings and updates of any changes and delegate the work to the committee members to drive compliance
• Periodically report on compliance failures/breaches to the Board/MD and circulating to the concerned functional heads.
2.
Compliance Risk Assessment
• Conduct assessment of the compliance risk (at least once a year) and to develop a risk-oriented activity plan for compliance assessment. The activity plan should be submitted to the Board for approval and be made available to the internal audit.
• To monitor and periodically test compliance by performing sufficient and representative compliance testing. The results of the compliance testing should be placed to Board/MD
3.
Compliance Tracking and reporting
• To examine sustenance of compliance as an integral part of compliance testing and annual compliance assessment exercise.
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Review and improve relevant processes, with a focus on risk mitigation and improved controls
• Ensure compliance of observations made by RBI if any and/or any other directions in a time bound and sustainable manner.
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Tracking and monitoring effectiveness of the compliance program for the year
4.
Training and development
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Periodical sensitization of employees on Nissan Code of Conduct.
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Organize and deliver compliance trainings, communications and other promotional activties relating to NRFSI compliance program.
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Plan & execute the awareness program for employees including the Management Committee
5.
Stakeholder management
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To liaison with key authorities internal or external for adherence and implementations of compliance program for the year. This includes, Internal Audit Function, RBI, Nissan India Compliance, management Committee and other related parties