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Job Role: Senior Consultant – Financial Services – Regulatory Compliance Testing

The opportunity:

EY is the only professional services firm with a separate business unit –Financial Services Office (FSO)–that is dedicated to the financial services marketplace. Our teams have been at the forefront of every event that has reshaped and redefined the financial services industry. If you have a passion for rallying together to solve the most complex challenges in the industry, come join our dynamic FSO team!  

This is a client-facing role in a rapidly growing practice, where you’ll build client relationships with key stakeholders, including management executives for some of the most globally recognized brands. It makes this the perfect place to gain a deeper understanding of complex businesses transactions, all the while recommending solutions to some of the most pressing business challenges and process inefficiencies. You’ll also team with our performance improvement professionals in multidisciplinary engagements, helping major global clients transform and sustain business performance. By plugging into our market-leading global network, you’ll gain the experience you need to become an exceptional Risk Advisor.

Our clients turn to EY for its deep expertise in a broad spectrum of consulting services, especially for initiatives that include Regulatory Compliance testing, oversight of Risk Control Self-Assessment (RCSA), assurance of process compliance, in-depth controls testing and analysis, and the development of comprehensive risk reporting frameworks. These domains are pivotal to the rigorous activities undertaken in 2nd line control testing, where the focus is on providing independent oversight and challenge to the 1st line’s implementation of controls, as well as ensuring that regulatory requirements are met and that risk management practices are sound and effective.

What to expect:

There really is no average day in this role since every client will have multi-faceted challenges and a distinct business environment. What it means is that you’ll have an opportunity to learn and adapt to our clients’ cultures and contribute towards developing unique solutions that are tailored to individual engagements. Whichever industry or client you’re working with, you’ll have plenty of opportunities to expand your business network and transform yourself into a truly global professional.

Your key responsibilities:

Client Management

Understand the client’s business & related industry issues/trends.
Develop strong working relationships with client and onshore client teams.
Maintain excellent rapport and proactive communication with the client.

Market Leadership

Participate and support business development initiatives.
Support the practice in developing thought leadership content and other innovation initiatives from time to time.

Primary Responsibilities

Regulatory Compliance Testing

Perform detailed assessments of process documentation and risk control frameworks to ensure accurate representation of compliance controls and lead end-to-end walkthroughs with business owners to validate control design and effectiveness in mitigating regulatory risks.
Oversee the RCSA process for specific client sectors, working in tandem with the 2nd Line of Defence to set the scope and timelines, while providing regulatory compliance insights during stakeholder meetings and advising on RCSA-related developments.
Conduct rigorous testing of compliance controls to evaluate their operational effectiveness, collaborate with business units for timely execution, and recommend enhancements to integrate identified regulatory risks into process maps and policies.
Ensure meticulous documentation of compliance control testing outcomes, maintain up-to-date records in the client’s risk and controls library, and contribute to the creation of comprehensive reports for senior management detailing recommendations for regulatory compliance improvements.
Engage in strategic 2nd Line of Defence projects aimed at refining risk data aggregation and control testing procedures, and lead quality assurance reviews to uphold the integrity and accuracy of compliance assessments and reporting.

Quality Control

Meet quality guidelines within the established turnaround time (or allotted budget) for assigned request.
Deal with workload without compromising standards.
Teaming with individuals from diverse backgrounds and helping foster an inclusive team-oriented work environment. In addition, you will have access to EY’s global network, including affinity networks, industry networks and community networks.
Mentor and coach junior team members, enabling them to meet their performance goals and successfully grow their careers.

Operational Excellence

Ensure compliance with risk management strategies, plans, and activities of the firms.
Manage the engagement budgets and support supervisors in developing marketing material, business proposals and new solution / methodology development.
Supporting the engagement manager in planning and scheduling optimum staff levels for engagements.

To qualify you must have:

Minimum 2-6 years of experience of serving in a similar role, Big 4 experience preferred.
Graduated in Accounting/Business from reputed university.
CPA/ACCA/MBA Finance / Chartered Accountancy (India)
CIA or CRMP other similar certifications preferred.
Proficient in MS-Office Suite, understanding of data analytics tools.
Proficient in Process modelling tools (Visio, IBM Blueworks etc.)
Working knowledge of SAP, Archer or other leading GRC platforms
Globally mobile and flexible to travel to onsite locations.
Technical experience Operations or Regulatory Compliance
Strong Oral & Written Communication Skills, ability to articulate discussions.
Problem solving skills and ability to multitask is essential.
Team player with strong interpersonal skills
Ability to prioritize deliverables effectively to achieve optimum results.

Ideally, you’ll also have 

Relevant experience with federal regulatory agency (Office of the Comptroller of the Currency (OCC), Federal Reserve Bank (FRB) or Consumer Financial Protection Bureau (CFPB)), or financial services organization Compliance Department
Knowledge of regulatory expectations related to Compliance Management Systems and Compliance Risk Management Programs for financial institutions serving consumers.
Experience with compliance program assessment, compliance program design and implementation assistance, development or evaluation of compliance policies and procedures, compliance program testing, and development and evaluation of compliance program testing.
Experience in assessing and decomposing financial services industry processes utilizing a risk and control focus and with the design, development, and implementation of internal controls for financial services business processes.
Consumer lending product knowledge (e.g., mortgage, auto, credit card), consumer lending life cycle knowledge (e.g., marketing, origination, pricing, risk and servicing), consumer regulation knowledge (e.g., fair lending, CRA, UDAP, TILA, RESPA), regulatory requirements of the Federal Reserve, OCC, OTS and/or FDIC
Capital Markets, investment banking, and broker dealer product and service knowledge (e.g., equity and debt securities, commodities, derivatives, foreign exchange) and applicable laws, rules, and regulations (e.g., Rule 3110, the Securities Act of 1933)
Experience with design, development, and implementation of internal controls and/or testing of internal controls for financial services business processes.

What We Offer:

A dynamic and supportive work environment that fosters growth and learning.
Opportunities for career advancement and professional development.
Competitive salary and benefits package.
Exposure to a diverse client portfolio and challenging projects.

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