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FICC Product Compliance Officer

Mumbai, MH
Job Code:
  • Banking & Finance
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Job Details

Institute and maintain an effective compliance program for the business, especially the dealing room staff, that promotes (a) clear understanding of new and existing compliance policies (b) heightened awareness of the Code of Conduct including Citi Conduct Risk program (c) a no surprises culture that ensures transparent and timely escalation of issuesIdentify potential areas of compliance vulnerability and risk; develop/implement corrective action plans for resolution of issues, and provide general guidance on how to avoid or deal with similar situations in the future.Provide clear and timely advice to business on regulatory guidelines/policies and track implementation.Develop and maintain good working relationships with regulators based on the underlying principles of clear disclosures and transparency.To assist stakeholders within the Compliance team , for resolution of queries/issues pertaining to FICC business.Core ResponsibilitiesFacilitating the Core Compliance(CC) team in interpretation and dissemination of regulatory guidelines/circulars and assisting business in timely implementation of local regulatory guidelines and Citi policies.Engage with key business and operations stakeholders on a continual basis and provide comprehensive quality advice/guidance on significant compliance related matters requiring immediate attention.Review and approve new product approvals (NPA) requests, Permitted Products List(PPL), and other aspects requiring independent compliance review ( Declarations, product proposals etc, Bespoke Client Memos etc.)Timely meetings and interactions with various business stakeholders to discuss various issues of importance and concerns impacting the business and compliance through the IBC Compliance monthly meetings forum.Partner with the business management and the IBC in developing a strong compliance and control culture in the business.Closely partner with regional FICC Product Compliance team for regional product specific projects, regional compliance queries.Facilitate meetings and policy advocacy efforts with regulators and industry bodies for business stakeholders.Provide necessary inputs and assistance to business partners and CC team during regulatory exams (RBI/SEBI/NSE) and audits (external and internal)To network with industry and regulatory stakeholders on a regular basis and keep abreast of the industry and regulatory developments.Day-to-Day ResponsibilitiesCompliance advisory, review and submissions of Client applications to the regulators and follow up for approval and closure as per defined timeframes.Facilitating business stakeholders in implementation of RCM related requirements, as raised by the Core Compliance team and also maintain the RCM, iTRAC inventory up to date.Review of marketing materials, promotional literature, disclosures and other client-related communications.To review Concurrent Audit Reports (Drafts and Final reports) and escalate concerns to senior Compliance and Business stakeholders for timely corrective action and resolution. To assist the CoE surveillance team in disambiguation of E-communication surveillance alerts, Trade Surveillance (upcoming) Quick Insights (UNO) alerts and execution of remedial action (if any).Ensuring timely submission of regulatory reports being submitted by Product Compliance for FICC activitiesEnsure timely submission and reporting of compliance data to various stakeholders (LOMC documents, Regional dashboard, CCC deck, Markets Weekly Reports, Monthly trader certification to region, Monthly Dashboard, LRRGC reporting and Quarterly complaint data for Markets business to the region)To complete the Manager s Controls Assessment (MCA) testing exercise in a timely manner and lead all efforts in submission of compliance inputs for the annual Compliance Annual Risk Assessment (CARA) exercise.Monitor Key MIS and trends (customer complaints, open regulatory issues, governance issues) to assess the health of business in terms of overall compliance and control framework and highlight exceptions and CAP, if any.Key DeliverablesIndependent risk assessment and decision makingImplementation of corrective action plans to remediate compliance/regulatory mattersMonitoring performance of the Compliance Program and related activities and taking appropriate steps to improve efficacyEnsuring a culture of timely escalation of issues.Proactive engagement with the regulators.Develop a strong compliance and control culture in the business QualificationsRequired Education Post-Graduation/Professional DegreeRequired ExperienceMinimum experience of 8-10 years in banking/financial services (Treasury Experience will be preferred)Required Certifications CA/MBARequired SkillsIndependent decision makingExcellent Interpersonal skillsEye for detail and ability to grasp the big pictureEffective Articulation skills since the position would involve active engagement with Regulators and representation on market forumsAbility to identify issues, escalate and take corrective actions promptlyObjective approach to decision making
Degree: CA (Chartered Accountant) | MBA/ PGDM

Additional Degree: BA (Arts) | B.Com. (Commerce) | B.Pharm. (Pharmacy) | B.Plan. (Planning) | B.Sc. (Science) | BBA/ BBM/ BBS | BCA (Computer Application) | Diploma-Other Diploma | B.Ed. (Education) | BHM (Hotel Management)

Experience: 8-10


Finance/Budgeting | Financial Analysis
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