Sumitomo Mitsui Banking Corporation – SMBC Group
Location
Delhi | India
Job description
COMPANY OVERVIEWHeadquartered in Tokyo, SMBC is one of the largest Japanese banks by assets (with over 238,700 billion in total assets), with strong credit ratings across the globe. The bank offers personal, corporate and investment banking services to their customer network that extends across 39 countries and regions, 15 of which are in Asia. The Asia-Pacific regional headquarter, established in 2008, is based in Singapore. The bank’s presence in India was established in New Delhi in December 2012, in Mumbai in March 2017 and Chennai in November 2020. In India, SMBC concentrates on Wholesale Banking with a strong client base and coverage of global and local conglomerates and corporates. Its strong financials and worldwide operations provide clients with global solutions that makes SMBC the leading choice for businesses expanding around the globe, particularly in Asia.OUR VALUESIntegrity | Customer First | Proactive & Innovative | Speed & Quality | Team“SMBC Group”URL: and DESCRIPTIONPurpose of the positionResponsible for handling Compliance related functions of the India Branches.Scope and DimensionThis is Senior level role responsible for compliance function in the bank which includes regulatory compliances, compliance testing and monitoring, training, advisories etc.The concern staff shall also be assigned with a compliance team to handle and supervise the day to day work.Challenges:The concerned staff should have good understanding of the overall compliance functions applicable for Foreign Banks in India.The candidate should also have relevant experiences and knowledge of the emerging compliance issues including local as well as international compliances, laws and regulations.Job ResponsibilitiesDissemination of RBI and other regulatory notifications /circulars and tracking its implantation in the bank.Keep a track and strict monitoring of all correspondences with the Regulators in India.Conduct Compliance testing and monitoring as per Head Office and RBI guidelines (including submission of Tranche data).Handle RBI’s onsite Inspections (including offsite surveillance) and submission of bank’s response or compliances in this regard.Conduct various Training (classroom Training, On Line training etc) to educate the branch staff.Carry out Compliance Risk Assessment and Compliance Action Plan on annual basis.Arrange for inter department meetings as per the defined frequency.Submission of different reports and MIS in a timely manner.Maintaining and periodic review of the Policies and PMs of the compliance department in line with changes in regulations. Also vetting of different Policies and PMs of the bank from local regulation perspectives.Providing clarifications and interpretations on regulations as and when sought by internal stakeholders.Experience & QualificationsKnowledge: Understanding of Compliance Functions of FIs (preferably foreign Banks)Skills: ComplianceExperience: 15-20 years of relevant experienceQualification: Bachelors / Masters in relevant fields. Professional degrees /diploma preferred.
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