Ravi Ramani Iyer
Mumbai
Summary
Detail-oriented and highly-focused professional with subject matter expertise in Compliance, Financial Crime. Anti-Money Laundering and Audit planning with a track record of designing and implementing Compliance and AML frameworks, policies, and processes from scratch.
Overview
25
25
years of professional experience
1
1
Certification
Work History
Executive Director- Head Compliance, Financial Crime, Risk & Governance
Standard Chartered Bank, India
05.2023 - Current
- Proactively develop regulatory relationships with regulators in Country- RBI, IFSCA, SEBI, Region and Global through a structured engagement program with consistent adherence to regulatory expectations.
- Strong understanding of India regulations and good knowledge of South East Asia countries and Global regulations.
- Provide direct supervision on implementation and execution of India regulations and have an oversight on South East Asia and South Asia countries with regards to applicable regulations.
- Oversight on South Asia and Group companies – NBFC, Stock Broking firm, Gift City, Modelling and Analytics Centre, Centre of Excellence with regards to regulatory compliance, advisory, audit and governance.
- Actively involved in expansion of group entities with regards to licensing and approvals, compliance policies and framework, regulatory standards and obligations, building the compliance team, appointment of key management personnel as per regulatory requirements.
- Engage with the Group and Global Audit team in advising on coverage, framework on key and critical areas across regulatory compliance, financial crime and conduct risk management.
- Have an oversight on the effectiveness of regulatory compliance controls, corporate governance processes and AML across lines of defense.
- Planning, designing and promoting high profile and complex projects on Compliance and Risk Management.
- Strong understanding of Corporate, Investment and Retail Banking.
- Provide insights to management/board and advisory services to businesses and functions on regulatory requirements and financial crime and AML.
- Advising management and audit committee on key risks, control effectiveness and evolving regulatory landscape.
- Develop Strategy and build and grow the Compliance team with subject matter expertise in Compliance and FCC.
- Review product offerings and ensure they are in line with regulatory and client requirements.
- Manage and have oversight on the operations of Centre of Excellence team in Bengaluru, Chennai and Mumbai.
- Support the Compliance Assurance and testing team in performing reviews on AML/CFT and other areas.
- Focus on Data Analytics, development of testing and assurance function through Artificial Intelligence.
- Member of Senior Management Team guiding the country, region and group subsidiaries on the applicable laws, regulations, international standards and best practices.
- Oversight and maintenance of TOM (Target Operating Model) for regulatory compliance, AML and governance.
- Oversee large, highly complex, regulatory and strategic projects that impact the organization as a whole.
- Ensure the bank's operations in the country are in line with regulatory expectations and Group requirements.
- Recommend annual audit plan for both AML and regulatory compliance considering the key risks.
- Ensure appropriate oversight/support is provided to the regional/global audit teams who execute AML and regulatory compliance audits.
- Foster a culture of transparency and accountability with sound judgement and high integrity.
- Set and implement the vision, strategy, direction and leadership, consistent with the vision and strategy for Compliance and in support of the Group's strategic direction and growth aspirations.
- Prepare comprehensive analysis of the risks faced and how they are being managed.
- Manage and develop the relationship with the regulators in accordance with the Regulatory Relationship Plan.
- Ensure the Bank is properly prepared for regulatory inspections and also vet the quality of supervisory/regulatory compliance to these reports.
- Providing governance and oversight over the implementation of Compliance related policies and procedures in Country to ensure compliance with such policies and procedures.
- Apprise the Board/Management team on regulations, rules and standards and breaches to the guideline (if any).
- Proactively monitor regulatory developments to manage the regulatory impact of complex regulatory matters on the Bank's business and its operations.
- Provide guidance on the proper application and interpretation of banking laws and regulations applicable in Country.
- Examine sustenance of compliance as an integral part of compliance testing and annual compliance assessment.
- Provide leadership management to direct reports to ensure they are highly engaged & performing to their potential.
- Define goals and key performance indicators, ensure effective implementation through performance management process.
- Evaluate performance of direct reports, provide feedback on an ongoing basis, identify development areas and coach to ensure capability development.
- Make recommendations to relevant stakeholders on possible risk management responses to identified risks.
- Inform senior management and relevant regulators of serious regulatory breaches.
Chief Compliance Officer & MLRO
Azizi Bank, UAE and South Asia
07.2019 - 05.2023
- Oversee all aspects of bank's compliance management/AML program and build awareness/training on FATCA/CRS compliance requirements, implementation, and reporting. Develop and implement AML/CFT Policies and Procedures in accordance with the Regulations, local Laws and Regulations reflecting Financial Action Task Force (FATF) recommendations.
- Provide oversight and supervision of all compliance, AML, and risk functions of bank and report potential deviations. Utilize effective tools to assess and combat sanctions risk in the bank. Oversight of the global sanctions program and will be responsible for execution of a sanctions risk mitigation program, creation of policies and procedures so that the bank is fully protected from international and global sanctions. Ensure optimal performance of AML screening/monitoring software by detecting suspicious activity/blacklisted entities and conducting periodic reviews to enhance and upgrade software. Monitor and test performance of sanction screening controls and escalate for potential sanctions control gaps.
- Identification of latest sanctions guidelines issued by International Sanctioning bodies. Perform thorough reviews of policies and procedures related to new products, services, and technology. Review existing compliance policies, procedures, and controls related to AML/KYC, Sanctions, ABC, Cyber Security and Data Privacy, AML transaction monitoring, and suspicious transaction reporting to Financial Intelligence Unit (FIU) in a timely manner to identify gaps and meet regulatory standards. Provide advice to Top Management on high-risk transactions, sanction related issues. Review and approval of Politically Exposed Person (PEP) customers and take appropriate action. Create management information, reports, trend analysis, and statistics to identify areas of concern and report to management for effective decision-making.
- Maintained consistent good audit ratings for compliance, AML, financial crime, and sanctions from Central Bank and external auditors.
- Attended and represented bank at global compliance meetings and conferences in Europe, Turkey, Malaysia, and UAE.
- Conduced Compliance Committee meetings quarterly and minute the proceedings for further tracking.
- Steered implementation of ESG framework in country, ensuring bank met international standards.
- Conducted detailed risk assessments, including country risk assessment, Enterprise-wide risk assessment (EWRA), business risk assessment, and AML/CFT risk assessments of bank, and recommended effective risk mitigation strategies and remedial actions.
- Leveraged leadership skills to manage staff members for maintaining department discipline and executing daily tasks, including achieving key performance indicators.
- Built annual compliance program/work plan for bank and designed global compliance policies/procedures.
- Ability to interpret complex compliance cases, good understanding of complex client structures and sanctions red flag.
- Prepared and presented monthly performance reports to Board of Directors and reported significant key risks and control measures on compliance/AML-related matters. Prepare Bi-Annual Compliance/MLRO reports for the Board of Directors and Central Bank.
- Lead efforts for RPA, digitalisation, and automation of compliance processes, including customer risk assessment, sanctions screening, transaction monitoring, business, and AML/CFT risk assessment.
Regional Head, Compliance, Financial Crime, Risk & MLRO
Unimoni Financial Services Ltd UAE, Middle East & Africa
05.2016 - 04.2019
- Managed financial crime, regulatory compliance, AML, and risk management in region. Reported to Group Board of Directors as a member of various committees, including governance, risk & compliance, project management, and compliance. Coordinated with Central Bank of UAE and Law Enforcement on matters related to AML/CFT. Ensured strict adherence to CB-UAE, Middle East, and internal policies/procedures related to AML/CFT. Analyse impact of sanctions and develop suitable mitigating strategies. Policies and procedures to ensure sanctions compliance. Maintained close collaboration with senior management to address organisational risk issues and emerging risks. Kept senior management and board of directors informed on latest trends in compliance & AML. Developed and executed enterprise risk management and operational risk policies throughout MENA region. Provided Bi-annual and annual compliance reporting to central bank, board of directors, and executive management. Ensured consistent execution of compliance program across the Group by properly resourcing and managing international locations for compliance performance.
- Achieved Data Quality score of 80% across MEA region in Data Governance by implementing KPIs and matrix to improve Data Quality scores.
- Attended and delivered presentations at international Compliance Conferences held in various locations, including Europe, Tokyo, Thailand, and Dubai.
- Implemented standardisation and automation of processes, including advanced transaction monitoring tools and techniques in region.
- Executed Central Bank of UAE Standards, DFSA, ADGM-FSRA regulations/policies, ensuring compliance with all relevant regulatory requirements.
- Acted as a confidential point of contact for employees to report irregularities and communicate with management, limited to procedures for whistle blowers.
VP, Regulatory Compliance & Operational Risk
MUFG Bank, India and Sri Lanka
10.2015 - 04.2016
- Developed and implemented framework, policies, and procedures on operational risk to minimise residual risk by identifying emerging risks and implementing risk mitigants/control measures. Implemented compliance target operating model through corporate team restructuring and alignment of core compliance & risk functions. Oversaw automation of regulatory compliance reporting to Central Bank, streamlining processes and improving efficiency.
- Achieved successful implementation of risk mitigation and control measures by proactively identifying emerging risks and implementing necessary measures.
- Led implementation of data management strategy, standards, framework, governance & compliance objectives to ensure regulatory compliance and timely submission of reports to regulators.
Senior Manager- Compliance, Audit & Risk
Citibank N.A., India, South East Asia
09.2003 - 09.2015
- Led development and enhancement of Compliance, Audit and Risk framework for India and South East Asia region in line with the respective country regulations overseeing global compliance initiatives. Implemented effective monitoring of compliance projects across international locations, ensuring adherence to regulatory requirements for cross-border remittances. Worked closely with Compliance teams in US. Managed compliance deliverables in South East Asia region through close collaboration with onshore and offshore teams. Directed talent development and training for team, serving as role model to drive organizational values, culture, and ethics. Developed and executed policies for Anti-Bribery and Corruption (ABC), Information Security, Data Protection, and Privacy in the region. Oversaw AML compliance projects for India and South East Asia.
- Built standardized reporting mechanism and maintained Key Risk Indicators (KRIs) to assess compliance risk and monitor progress among international locations.
- Design and implementation of ABC policy, Infosec Policy & Data Protection & Privacy Policy in the region.
Assistant Manager- Banking Operations
IDBI Bank Limited
02.2001 - 08.2003
- Retail and Wholesale banking operations - Cash Management, Clearing, Trade Finance, Lockers Operations, Loans and Advances, IPOs (Initial Public Offers) offer, Client On-boarding
Education
Master of Business Administration - Finance
IGNOU
Skills
- Compliance Management
- AML Program Management
- C-suite Engagement
- Strategic Planning & Execution
- Compliance Strategy & Framework
- Global Regulatory Compliance
- Team Leadership & Training
- Compliance Risk Management
- Technology & Innovation
- Conflict Management
- Audit planning and testing
- Project Management
Accomplishments
- Achieved top recognition for outstanding compliance standards and practices, demonstrating expertise in Controls, Automation, and Digitization.
- Secured 86% leadership score based on Voice of employee ratings by completing both Leadership Talent Program and Managerial GRID model with distinction.
- Awarded as outstanding and distinguished trainer for Sanctions Screening and the Methods and Automation and Transaction and Accounts Monitoring.
- Earned recognition as top-performing employee in compliance and controls, customer service, business acquisition.
- Recognised as best safety and security officer in Asia Pacific for exceptional performance and dedication to work.
- Selected amongst 1100 employees to spearhead high-profile overseas projects, including Business Compliance Re-engineering in Singapore and Insurance product launch in Hong Kong.
- Spearheaded eco-friendly initiative to Go Green and transition to paperless work environment, resulting in significant cost savings for the organization.
Certification
Certified in CAMS-USA (Gold Standard), Managing Sanctions Risk with Merit from ICA, CAMI, CAIIB, AML/KYC with Distinction from IIBF.
Qualifications Summary
- Instrumental in managing Compliance and AML program and implementing effective training/awareness programs for FATCA/CRS compliance requirements.
- Strong knowledge of local/international compliance regulations, including RBI, SEBI, IFSCA, FCPA, FINRA/SEC, BSA/AML, MAS, HKMA, OFAC, CBUAE, EU, UN, DFSA, SCA, DAB and FCA
- Highly skilled in providing comprehensive oversight and supervision of Compliance, AML, and Risk functions to ensure regulatory compliance and mitigate potential risks.
- Demonstrated success in achieving best audit ratings for Compliance, AML, Financial Crime, and Sanctions.
- Expert in establishing strong relationships with Regulators, Government Authorities, Board Members, and Senior Management to facilitate change management, advise on best practices, and drive automation/digitisation initiatives.
- Entrepreneurial and global mindset, ability to lead large teams across geographies and cultures.
Timeline
Executive Director- Head Compliance, Financial Crime, Risk & Governance
Standard Chartered Bank, India
05.2023 - Current
Chief Compliance Officer & MLRO
Azizi Bank, UAE and South Asia
07.2019 - 05.2023
Regional Head, Compliance, Financial Crime, Risk & MLRO
Unimoni Financial Services Ltd UAE, Middle East & Africa
05.2016 - 04.2019
VP, Regulatory Compliance & Operational Risk
MUFG Bank, India and Sri Lanka
10.2015 - 04.2016
Senior Manager- Compliance, Audit & Risk
Citibank N.A., India, South East Asia
09.2003 - 09.2015
Assistant Manager- Banking Operations
IDBI Bank Limited
02.2001 - 08.2003
Master of Business Administration - Finance
IGNOU
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