Compliance Leasing Accounts

Job description

Job Title: Compliance Leasing Accounts Department: Accounts Leasing Reports to: Head Accounts Leasing Location: Mumbai 1: Job Purpose Statement (Summarise in one/two statements why this job exists and the contribution makes to the overall business of the company). To ensure that all financial operations within the Leasing Accounts Department comply with internal policies, regulatory standards, and industry-specific laws applicable to car leasing and finance. The Compliance Manager will monitor, assess, and improve compliance controls, mitigate risks, and support audit and regulatory reporting. 2: Duties & Responsibilities (List in the order of importance the duties & responsibilities of this job) Regulatory Compliance: - Ensure adherence to financial regulations including RBI, SEBI, and other applicable laws. - Monitor changes in regulatory requirements and update internal policies accordingly. - Liaise with regulatory bodies during inspections and audits. Policy & Procedure Management: - Develop, implement, and maintain compliance policies and procedures specific to accounting and financial reporting. - Review and update SOPs to align with current regulations and business practices. Risk Assessment & Mitigation: - Conduct regular risk assessments of accounting processes. - Identify potential compliance breaches and recommend corrective actions. Audit & Reporting: - Coordinate internal and external audits. - Prepare compliance reports for senior management and regulatory authorities. - Maintain documentation for all compliance activities. Cross-Functional Collaboration: - Work closely with Finance, Legal, and Operations teams to ensure integrated compliance efforts. - Support new product launches or financial services with compliance input. 3: Organisational Relationship (Provide an organisational chart which illustrates the organisational structure above and below this position). 4: Key Challenges (List the key tasks performed to support the main objectives of the position). - Ensuring compliance with lease accounting standards like IFRS 16 across all entities. - Managing complex lease data, modifications, and terminations accurately. - Coordinating with cross-functional teams for lease documentation and approvals. - Supporting audits and financial reporting with timely and precise lease disclosures. 5: Decision Making Authority (Describes the type of decisions made alone, those on which the manager must be consulted, those referred to a higher level, and job procedures to be followed) - Independently manages lease accounting operations, compliance, and reporting. - Consults the Finance Manager for complex lease modifications and policy changes. - Refers high-value, strategic, or cross-functional decisions to the CFO or Finance Director. - Follows internal SOPs, accounting standards (e.g., IFRS 16), and audit requirements 6: List of internal and external stakeholders the role is expected to interact with to execute duties effectively - Internal Stakeholders: Corporate Accounts, Legal Team, Internal Audit team. - External Stakeholders: Leasing Companies, External Auditors, Regulatory Authorities.