Assistant Vice President - Risk Assessment & Monitoring
Faysal Bank Limited
Total years of experience :11 years, 9 Months
Leading FBL’s Compliance Risk Management Program under direct oversight from Head Business Compliance (direct report of Chief Compliance Officer) and with support of a resourceful team of 4, The core elements of my responsibilities include:
Develop, implement and routinely update a comprehensive Compliance Risk Management
Framework to guide compliance risk profiling of the Bank and its functional groups on a
consistent basis. This includes devising and implementing risk assessment and monitoring
tools (such as Risk Control Self-Assessments, Risk Rating Matrices & Heat Maps, KRIs or Loss
Data or Breach Collection, Control Standard Tests, and Risk Aggregation Dashboards).
Maintain a sensitivity based regulatory risks repository keeping track of the Bank’s evolving
regulatory environment.
Validate RCSAs to assign an overall functional regulatory risk rating, including agreeing risk
remediation plans for high and medium risk areas with the functional groups.
Use data on regulatory Breaches, KRIs and Loss Data Reports (including Internal Audit Reports)
to identify high risk areas for regulatory non-compliances.
Oversee implementation of Compliance Risk Management Module (Risk Nucleus) aimed to
sophisticate and systemize compliance risk assessments and monitoring.
Represent FBL at Compliance Risk Management forums arranged by Regulator and Pakistan
Banker’s Association.
Ensure high level of coordination with the 3LODs (to training the 1LOD on compliance risk selfassessments and liaising with Operational Risk Review, Internal Controls & Fraud Risks and
Internal Audit Groups to streamline Bank-wide risk assessments and create work synergies).
Conduct engaging awareness sessions on Compliance Risks based on training need
assessments drawn up in view of the trends in non-compliances.
Prepare agenda papers and risk aggregation dashboards for the Board and Management
Committees to update on the Bank and Functional Risk Profiles.
Developed a comprehensive Compliance Risk Assessment Framework, inculcating methods and approaches to consistently risk profile the institution, functions and related sub-processes. This included designing of risk control evaluation matrices, risk scoring frameworks, heat maps, and monitoring tools (KCIs Reporting, Dependent & Independent Tests of Control) and then aligning the same with that used by Operational Risk Review Group and Internal Audit.
Maintained regulatory repository to keep track of the evolving regulatory environment, while disseminating changes thereto, including issuing advisories thereon, to the relevant stakeholder. Restructured the Regulatory Repository Template to streamline the same as per Compliance Risk Assessment Framework i.e. to assign risk sensitivities, control mapping, identifying gaps and laying down remediation plan in agreement with the relevant stakeholder.
Tracked the Policies & Procedures reviews as per their set frequencies, review and align them with the evolving regulatory & governance frameworks and best industry practices.
Coordinated and facilitated Regulator’s Inspection and ensured timely submission of regulatory returns / daily correspondences with the regulators and other governmental bodies.
Conducted awareness sessions on Prudential Regulations on Corporate & Commercial Lending and Anti-money laundering & Combating Financing Terrorism, Code of Ethics, Whistle Blowing and Protection against Harassment at work to an audience of 40 members from different functions semi-annually.
Drafted agenda papers for Compliance Committee of Management & Board Audit Committee to update on Compliance Action Plan, Compliance Risk Profile of the FI i.e. the results of Compliance Risk Assessment & Monitoring.
Managed Compliance Function, including handling of Regulator's Inspection independently, during the casual vacancy in the office of Chief Compliance Officer and his official leave absences.
As Senior Consultant, I performed engagements in the areas of Regulatory Compliance, Internal Controls over Financial Reporting (ICFR), Internal Audit, Quality Assurance Review of Internal Audit Function, Financial Crime Compliance, Common Reporting Standard & FATCA, Strategy Documentation & Integration, Corporate Governance Evaluations and Organizational Studies for the Financial Services Sector . My professional client portfolio includes servicing Standard Chartered Bank, National Bank of Pakistan, Faysal Bank Limited, Bank Alfalah Limited, United Bank Limited, Telenor Microfinance Bank and First Bank of Abu Dhabi.
- Assisting in Planning, Execution and Completion of the Internal and External Audits.
- Ensuring compliance with IFRSs, ISAs and other relevant laws and regulations related to major heads like revenue, cost of sales, fixed assets, investments, debtors, creditors & inventory.
- Proposing adjusting entries in case of any non compliance.
- Attending initial meetings to obtain an understanding of the clients' business.
- Discussion and resolution of significant issues with the client and job in charge during the course of an audit and finalization meetings with manager to complete the audit in efficient manner.
- Co-ordination with professionals in various fields like Legal & Tax consultants and IT experts.
- Maintaining working papers and planning & summary file
To name a few from my major assignments :
*Fat Burger *Jinnah International Hospital Islamabad * Bar B Q Tonite *Bolo Bhi Society (NGO)
A teacher of Accounts by profession and Economics and Organizational Behaviour by passion. Tutored 2 batches of around 40 examinees appearing for their Bachelors in the year 2012/2013. Moreover, conducted a special training for a group of 6 bankers holding higher offices in Pakistan's leading names of banking industry.
Institute Of Chartered Accountants Of Pakistan (ICAP) is a premier accountancy/auditing certification of Pakistan with recognition around the globe. I have cleared Assessment of Fundamental Competencies (AFC) that comprises of 4 CBE-Exams & Certificate in Accounting & Finance (CAF) which consist of 9 manual hand-written exams.