- Effectively manage the compliance function, including ensuring policies and standard operating procedures (SOPs) with respect to all business activities of are in compliance with the regulatory guidelines and are commensurate with the complexity of the operations.
- Identify, document and assess the compliance risks associated with the business activities.
- Develop a risk-oriented compliance audit plan for monitoring and testing. The activity plan along with the findings should be submitted to the Board / Board Sub-Committee for approval / information at a defined frequency.
- Be a reference point to the Board / other departments (i.e. Internal Audit, Risk Management, Business Managers) for opining on compliance issues with respect to business activities.
- Ensure all compliance related returns are filed with the regulator in a timely manner
- Examine any violations of rules, regulations, policies and procedures and recommend corrective actions.