Head - Governance & Control - BFS

Job Description

Their is one good opportunity for Head Governance and Control based in Hyderabad with our Financial Services clientEducational Qualification : Post Graduate in Finance or Chartered Accountant is highly desired, and / or ICWA / CS and other similar degrees as per Companies Act section 138 Legal Degree /III/insurance certification will be highly preferredExperience : Minimum 13 Years + Skills required : - Strong compliance or risk background and knowledge of compliance structures, systems and strategy- Additionally, experience in an audit role- In-depth knowledge of the industrys standards and regulations- An analytical mind able to see the complexities of procedures and regulations- Comprehensive understanding of the operational, regulatory and reputation compliance risksStrategic Responsibilities:- Act as a key advisor to the senior leadership on critical changes in the regulatory environment and external business environment- Put in place an integrated approach towards identification and mitigation of risks- Develop risk (based) audit framework in alignment to the operations of the company and compliance requirements - both statutory and regulatory- Provide inputs to management for continuous improvement and enhancing effectiveness of controls.- Ensure that the Company is on track with the responsibilities under regulations and recommendations of key regulatory bodies, as well as corporate laws- Foster a culture of compliance in the organization- Compliance (IRDA and any other regulatory)- Architect, design and manage the complete compliance framework of the organisation; Oversee and monitor implementation of the compliance program- Ensure dissemination and implementation of policies, circulars, code of conduct, formats, standard templates, etc. for complying with external regulations, guidelines issued by IRDA, other regulatory bodies and other relevant parties- Act as the principal point of contact for responding to any investigations and queries from IRDA- Ensure regulatory reporting, receipt of certification, as per guidelines- Be responsible for putting in place system and mechanism for tracking submission of regulatory requirements / reporting at required intervals- Independently investigating and acting on matters related to compliance. Regular reporting to the Leadership / Board on incidents of control breaches and corrective action requiredInternal Audit- Set out the priorities of the internal audit function, consistent with the organizational objectives.- Design and develop policies, SOPs, guidelines and instruction manuals for identified areas and establish controls (for example, Authority Matrix)- Develop annually the internal audit plan for Audit Committee review and approval. Oversee the implementation of the approved plan, ensure proper resourcing for implementation of the plan, and adjust the plan as needed in response to changes in business risks, operations, programs, systems and controls. Keep senior management and Audit Committee apprised of any changes needed to the internal audit plan.- Be responsible to ensure audit readiness of the company by driving standard and frequent internal audits.- Present the audit reports and findings with alternative solutions for the audits issues to the Audit Committee and the Board on a regular (quarterly) basis- Be responsible for ensuring the timely completion of internal auditing engagements- Direct mock audits in preparation for the regulatory audits (at departmental level), review reports and submit to the management the findings of the same- Internal Controls & Risk Management, including Information Security - Develop approach to risk management and provide assurance that the systems of risk management and internal control are adequate and effective - Be responsible for review of key control processes and examining the auditors reports in this respect and provide specific guidance on improvements to be made- Collaborate with the Head IT to apply risk management approach to Information Security standards and regulations to protect the business interests This will include aspects like establishing internal controls for key areas like critical system and data, external and internal threat management, vendor risk management, busines continuity & incidence response, etc. Assessing risks and managing the same for these areas would also form a core responsibility- Review reports of corporate and branches overall processes and indicators, as per Audit Programs to spot anomalies and trigger situations- Ensure management reporting of risk assessment results, dashboards, risk exposures and explanations specific to geographies- Evaluate possible operational risks that may arise from human error or system failures, which might disrupt or affect business processes and recommend different strategies to minimize risk exposure External Relationship Management- Develop and maintain good relations with the regulators and ensure regular communication and connect with them- Monitor maintenance of statutory records and ensure filing and monitoring of statutory returns to IRDA and other regulators within stipulated time- Ensure compliance of Supervisory observations made by IRDA and/or any other directions in both letter and spirit in a time bound and sustainable mannerTeam Management- Mentor, provide operational leadership and technical guidance to the team, thereby developing a strong and competent team- Review performance of the team on a regular and continuous basis and provide developmental feedback- Conduct one-to-one and team meetings on a regular basis to discuss and resolve issues, to seek feedback / suggestions on self / on departments operations and to provide guidance & support,

Keyskills :
code of conductinformation security standardsenvironmental impact assessmenthuman errorcompanies actaudit reportsinternal auditrisk managementrisk assessment