AVP - Centralized Operations - Compliance - RFB - Mumbai - Lodha (I-Think Techno Campus) - B wing - MM

Role Purpose
The role is responsible for strengthening operational governance across Banking Operations through robust quality control frameworks, audit management, regulatory compliance monitoring, and management of external banking relationships. The person will ensure adherence to internal controls, facilitate successful audits, manage banking partnerships, and mitigate operational risks while supporting business growth objectives.
The position serves as a key link between Banking Operations, Risk, Compliance, Internal Audit (other internal teams), External Auditors and Banking Partners.

Key Responsibilities

1. Quality Assurance & Operational Controls

• Develop and implement quality control frameworks across Banking Operations processes.
• Conduct periodic quality reviews of operational transactions, reconciliations, payment processes, customer servicing activities, and banking operations.
• Monitor adherence to SOPs, policies, regulatory guidelines, and operational controls.
• Identify process gaps, control weaknesses, and operational risks; recommend corrective and preventive actions.
• Establish Key Risk Indicators (KRIs) and Key Performance Indicators (KPIs) for operational effectiveness.
• Ensure closure of quality observations and corrective action plans within agreed timelines.

2. Audit Management

• Act as the single point of contact for Internal Audit, Statutory Audit, Concurrent Audit, Process Audits, and Regulatory Inspections.
• Coordinate audit planning, data submissions, walkthroughs, and stakeholder interactions.
• Track and ensure timely closure of audit observations, management comments, and remediation plans.
• Prepare audit readiness assessments and conduct pre-audit reviews.
• Maintain audit repositories, control documentation, evidence records, and compliance trackers.
• Present audit status, risk assessments, and closure updates.
• Drive a culture of proactive compliance and governance within the operations function.

3. External Banking Relationship Management

• Manage relationships with partner banks, payment service providers, escrow/account servicing banks, and other financial institutions.
• Coordinate account opening, modifications, banking documentation, and operational arrangements.
• Ensure smooth execution of banking transactions and issue resolution with partner banks.
• Conduct periodic service reviews with banking partners and monitor agreed service levels.
• Support negotiations regarding operational service delivery, transaction processes, turnaround times, and issue management.
• Drive resolution of escalations with banking partners and ensure minimal business disruption.
• Evaluate banking partner performance and recommend improvements.

4. Risk & Governance

• Identify operational risks and implement mitigation strategies.
• Strengthen governance mechanisms through periodic reviews, control testing, and risk assessments.
• Track operational incidents, root cause analysis, and preventive actions.
• Support Business Continuity Planning (BCP) and operational resilience initiatives.
• Ensure adherence to enterprise risk management frameworks.

5. Management Reporting & Stakeholder Management

• Prepare and present governance dashboards covering quality metrics, audit observations, compliance status, banking partner performance, and risk indicators.
• Provide actionable insights to senior management on process improvement opportunities.
• Collaborate with Business, Finance, Treasury, Risk, Compliance, Technology, and Operations teams.
• Lead governance review meetings and track action closures.