Canara Bank Job Vacancies in Head Office Bangalore May 2023

CANARA BANK

Recruitment Cell, Human Resources Wing
Head Office, 112, J C Road, Bengaluru – 560 002
E-mail: horecruitment@canarabank.com www.canarabank.com

Canara Bank Invited offline Application for the Following Vacancy.

Vacancy Details

Group Chief Compliance Officer (GCCO) on contract basis

Age Limit:

Between 45 – 55 years

Location:

Canara Bank, Head Office, Bengaluru. However, the Bank reserves the rights to post the executive at any offices of the Bank or to any place as per requirement of the Bank.

HOW TO APPLY:

Guidelines for filling online application:
(i) Candidates are required to apply online through Bank’s official website www.canarabank.com ? Career ? Recruitment ? RECRUITMENT PROJECT- 2/2023 –
ENGAGEMENT OF GROUP CHIEF COMPLIANCE OFFICER (GCCO) ON CONTRACT BASIS. No other means/ mode of application will be accepted.
(ii) Candidates are required to have a valid personal Email ID and Mobile Number. It should be kept active till completion of this selection process. All the communication will be sent to the candidates to their respective e-mail id only.
(iii) Candidates are advised to carefully fill in the online application as no change in any of the data filled in the online application will be permitted after submission.
(iv) After final submission, the candidates are advised to take a printout of the system generated online application form

Educational Qualification:

Mandatory: Graduate in any discipline. Desirable: 1. CA/CS/MBA Finance or equivalent. 2. Certified Banking Compliance Professional by IIBF.

Work Experience:

Mandatory Overall experience of at least 15 years in the Banking or financial services, out of which minimum 05 years shall be in the Audit/Finance/Compliance/Legal/ Risk Management Functions. Candidate should have good understanding of industry and risk management, knowledge of regulations, legal framework and sensitivity to supervisors expectations.

ROLES AND RESPONSIBILITIES:

The Group Chief Compliance Officer (GCCO) is responsible for developing a compliance culture in the Bank to ensure strict observance of all statutory provisions contained in various legislations such as Banking Regulation Act, RBI Act, Foreign Exchange Management Act, etc., as well as to ensure observance of other regulatory guidelines issued from time to time. Ensure compliance to standards and codes prescribed by IRDAI, UIDAI, NPCI, NABARD, CVC, CIC, SEBI, BCSBI, IBA, FEDAI, FIMMDA, FEMA etc., and other regulatory organizations, Policy guidelines and MOI, SOP of the Bank and also the Bank’s internal policies and fair practices code. ? Be responsible for drawing up a comprehensive Compliance Policy for the Bank and implement the same as per the directions of the Board/ACB/Senior Management. ? Apprise the Board and senior management on regulations, rules and standards and any further developments. ? Provide clarification on any compliance related issues. ? Conduct assessment of the compliance risk (at least once a year) and develop a risk-oriented activity plan for compliance assessment. The activity plan should be submitted to the ACB for approval and be made available to the internal audit. ? Report promptly to the Board / ACB / MD & CEO about any major changes / observations relating to the compliance risk. ? Periodically report on compliance failures/breaches to the Board/ACB and circulating to the concerned functional heads.

Monitor and periodically test compliance by performing sufficient and representative compliance testing. The results of the compliance testing should be placed to Board/ACB/MD & CEO ? Examine sustenance of compliance as an integral part of compliance testing and annual compliance assessment exercise. ? Ensure compliance of Supervisory observations made by RBI and/or any other directions in both letter and spirit in a time bound and sustainable manner. ? Identify level of compliance risk in each business line, products and processes and mitigation of such risks. ? Circulation of a. Instances of compliance failures among staff b. Preventive instructions. ? Active interaction with head of audit for remedying deficiencies. ? Vetting of guidelines/circulars issued, for compliance with regulatory guidelines before these are disseminated amongst the operational units. ? Putting in place a robust mechanism to a. Ensure that regulatory guidelines/instructions are promptly issued/ disseminated within the organization. b. Monitor compliance with the regulatory guidelines/ instructions. c. Ensure detection of frauds are promptly reported to the regulator in the prescribed timelines. ? At frequent intervals, interact with Legal Department, Operational Risk Management Department, Taxation Department and Audit / Inspection Department of the Bank to take stock of the latest developments. ? The GCCO shall necessarily be a participant in the periodical informal discussions held with RBI. ? Submission of reviews on quarterly/ annual basis to Board/ Board level committee. ? The annual review should broadly cover the following aspects. a. Compliance failures, if any during the preceding year and consequential losses and regulatory action as also steps taken to avoid recurrence of the same. b. List of all major regulatory guidelines issued during the preceding year and steps taken by the Bank to ensure compliance. c. Independence of compliance procedures and processes. d. Scope of compliance procedures and processes. e. System of internal control to minimize compliance risk. f. Compliance with fair practices codes and adherence to standards set by selfregulatory bodies and accounting standards. g. Progress in rectification of significant deficiencies pointed out in the internal audit, statutory audit inspection reports and position of implementation of recommendations made therein. h. Strategy for the next year including restructuring of compliance department, if necessary, posting/transfer/training of staff. i. Review of all policies.

Subjecting “new products launches” to compliance test and monitor the product for the first six months of introduction to ensure that the indicative parameters of compliance risk are mitigated. ? Arrange to put in place a comprehensive compliance manual – documenting and recording for posterity. ? Oversight of risk based compliance programme. ? Focus on regulatory/statutory compliance a. Compliance with fair practice codes and other codes prescribed/ suggested by selfregulatory organization, b. Government policies, Bank’s internal policies and prevention of money laundering/ funding of illegal activities. ? Compliance with legal and regulatory requirement by overseas branches/subsidiaries/joint ventures in different jurisdictions observing proper standards of market conduct. ? Increased attention in ensuring compliance of: a. Various directions emanating from Banking regulator and supervisor b. Tax laws and other statutes c. Sharing of information under law ? Evolve compliance culture in the Bank with respect to scale of operations, risk profiles and organizational structure. ? Constantly work on forward looking compliance culture to deal with today’s requirements with an eye on tomorrow. ? Calibrating each guideline and mapping it to risk categories. ? Put in place a system, where transactions audit undergoes verification by compliance functionaries. ? Put in place a system to ensure on an ongoing basis: a. integrity of regulatory/supervisory reporting, b. overseas regulatory requirements, c. not to work around rules; but within rule, d. compliance foreign exchange business with reference to FEMA and regulatory requirements. ? Ensure timely rectification of Risk Mitigation Plan (RMP) and its sustenance, prompt rectification of Risk Assessment Report observations with action plan to resolve the same in coordination with functional departments. ? Monitoring and certifying the error free submission of Tranche data to RBI periodically by invoking rigorous verification mechanism and also test check Tranche III data submitted by the functional departments. ? Ensure prompt reply/action taken report to the communications received from GOI/Regulator/VIPs. ? Ensure preparation of curriculum for compliance training and imparting in each of the training programme conducted, training of compliance officers and compliance executives every year.

? To decide on the presence of conflicts of interest in the business service or activity and maintain the register for the same. ? Participate as a member in the Operational Risk Management Committee, Credit Risk Management Committee, Asset Liability Management Committee, New Product Approval Committee/Systems & Procedures Committee and any other Committee as decided by the Management from time to time and as an invitee to Audit Committee of the Board. ? Be the nodal point of contact between the Bank and the regulators. ? Place a monthly report on the position of compliance risk and put up to the Senior Management / MD&CEO. ? The GCCO is empowered to get the compliance reviews / investigations conducted through external experts wherever required. ? Any other work related to compliance functions allotted by the Bank from time to time.

As per the Canara Bank recruitment notification, the candidateâ€™s maximum age should be 30 years , as on 31-01-2023.