EY Senior Consultant- Risk Consulting - US Compliance Testing FS Mumbai 

India, Maharashtra, Mumbai 

421405659

The opportunity: Senior Consultant- Risk Consulting – US Compliance Testing - FS - Mumbai

Financial Services Risk - helps clients in the financial sector to identify, manage and monitor the risks in their business. It is done through a transformative and agile approach including process and procedures, risk, data modelling and analytics, reporting to stakeholders and third parties, business requirements (for software selection and IT implementation), analysis of assets and liabilities, and capital and liquidity management. The objective of our advisory risk services is to provide clients with a candid and reliable overview of their risk landscape. Our solutions can be used by our clients to build confidence and trust with their customers, the overall market and when required by regulation or contract. You will be responsible for executing client related engagements in the areas of governance, risk & compliance (GRC), internal audits, process reviews, standard operating procedures, enterprise risk management, revenue assurance, IFC, Clause 49 assistance.

Technical Excellence

• Assist the client with compliance testing and monitoring activities across various divisions of the US bank to ensure the businesses adhere to the U.S. compliance and regulatory requirements.
• Understand the Regulatory theme and understand the impact of the regulation on the Line of Business
• Develop an understanding of the business products in scope
• Perform a review of the previous issues and understand high risk areas for the business
• Draft engagement letter on the planned compliance review for the LOB
• Conduct kick-off call with the business. Request the initial documentation and review the procedures and identify controls in scope.
• Conduct walkthrough discussions with the business to understand the procedures and controls implemented.
• Perform Test of Design, Test of control effectiveness, Test of sustainability and document the issues identified.
• Discuss with compliance advisory and Head of Compliance testing for any issues noted during the review
• Conduct the issue discussions calls with the business to socialize the issues identified.
• Draft compliance activity report outlining the scope of testing and results of the testing and issues identified; if any
• Document issues in system of records
• Follow-up and closure of all issues noted (Issue validations)

To qualify for the role you must have

• 3-6 years of audit/compliance testing experience preferably in U.S. regulations
• Extensive knowledge of US regs: UDAAP, FDPA, FDCPA, TILA, RESPA, Real Estate Appraisal lending standards, ECOA, HMDA, TCPA, Reg CC, Reg D, Reg E, Reg J, SAFE Act, Reg P, FCRA
• CA, Graduate and Post Graduate degree (relevant financial services experience and/or Advanced Degree in Finance or Accounting is a plus)

Skills and attributes

In addition to technical competence, what will set you up for success at EY is your ability to:

• Determine that the work delivered is of high quality.
• Anticipate and identify engagement related risks and escalate issues as appropriate.
• Actively establish client (process owner/functional heads) and internal relationships.
• Assist and share knowledge with team members, Seniors and Managers in developing new methodologies and internal initiatives and participate in performing procedures especially focusing on complex, judgmental and/or specialized issues. Work with the team and the client to create plans for accomplishing engagement objectives and a strategy that complies with professional standards and advise clients to understand and manage their business risks and verify the validity of their business information
• Brief the engagement team on the client's IA environment and industry IA trends. Maintain relationships with client management to manage expectations of service, including work products, timing, and deliverables. Demonstrate a thorough understanding of compliance, financial, and operational risks along with performing internal control testing, develop internal audit plans, and provide internal audit services on an outsourcing basis. Assess internal controls and SOX framework in order to mitigate risk and apply it to client situations
• Bring and utilize extensive knowledge of the client's business/industry to identify technological developments and evaluate impacts on the client's business. Demonstrate excellent project management skills, inspire teamwork and responsibility with engagement team members, and use current technology/tools to enhance the effectiveness of deliverables and services.
• Understand EY and its service lines and actively assess what the firm can deliver to serve clients.

What we look for

People with the ability to work in a collaborative manner to provide services across multiple client departments while following the commercial and legal requirements. You will need a practical approach to solving issues and complex problems with the ability to deliver insightful and practical solutions. We look for people who are agile, curious, mindful and able to sustain positive energy, while being adaptable and creative in their approach.