Deputy Unit Manager - Compliance

Job description

Job Summary Regulatory return pre-validation: Perform independent pre-validation of regulatory returns before submission to the regulator on timely basis. Review data completeness, accuracy, reconciliations and; identify exceptions if any; coordinate resolution with return owners for necessary rectification. Responsibilities The incumbent will be part of the Compliance function and will independently pre-validate regulatory returns prepared by business and functional teams before submission. The role is responsible for assessing whether reported information is complete, accurate, consistent, and aligned with applicable regulatory instructions. • Understand the applicable regulatory return, reporting instructions, data definitions, frequency, submission timelines and validation rules. • Prepare and maintain a return-wise pre-validation checklist covering data fields, regulatory logic, reconciliations, and documentary evidence. • Validate the completeness and accuracy of return data through source-to-return, exception analysis etc. • Reconcile reported figures with the general ledger, trial balance, source applications and other relevant regulatory or financial submissions, as applicable. • Review changes in reporting methodology, source systems, mapping logic, master data, manual adjustments and regulatory interpretations for their impact on the return. • Discuss exceptions with return owners and relevant stakeholders, obtain clarification and supporting evidence, and ensure corrections are completed before submission. • Document validation checks performed, evidence reviewed, issues identified, management responses received and the final pre-validation conclusion. • Escalate exceptions, unresolved differences, to the appropriate senior management stakeholders. • Maintain a repository of checklists, working papers and other supporting documents etc. • Monitor regulatory changes affecting returns and update validation procedures in coordination with Regulatory Compliance and return-owning functions. Key Decisions / Dimensions • Regulatory requirements need elaborate reading and interpretation • Validation procedures based on regulatory criticality, materiality, data complexity, past exceptions and changes during the reporting period. • Assess whether identified exceptions are satisfactorily resolved and supported before providing the pre-validation conclusion. • Decide matters requiring escalation due to unresolved differences, inadequate evidence or potential submission delay. Major Challenges • Regulatory reporting requirements, data definitions and validation expectations are complex • Require continuous learning and timely incorporation of changes if any in the return format. • Return data may originate from multiple products, systems and manual sources. • Changes in products, processes, systems may affect return logic and require proactive assessment before the reporting cycle. Required Qualifications and Experience • B.Com, M.Com, MBA with 3+ years of relevant experience in compliance, audit, finance, risk or operations. • Ability to interpret return instructions and data definitions considering RBI guidelines. • Know-how in using MS Office, Customer 360, SFDC • Good analytical, communicating skills and report writing skills.