Time: 11:10 AM TO 12:10 PM
The Department of Management Studies organised an industry expert lecture series on “regulations and compliance in the banking sector” for III sem MBA finance students. The industry expert Ms. Nupur Joshi, has an overall experience of 10 years in banking operations experience which also includes risk management. She handles continental Europe as a region and also handle all the functions right from regulatory compliance to vendor management to financial planning and outsourcing.
The speaker started with explaining the purpose of regulation and compliance in the banking sector, regulations are implemented to protect someone or something, whether it is employees, consumers, the public at large, or the integrity of commerce or business processes of the banks. the speaker clearly stated the primary focus areas in the overseeing of regulations, which is establishing and implementing controls in the bank, identifying and remediating areas where organizations are not complying etc.
Next the speaker explained about the scope in relation to regulatory compliance like regulatory breaches, regulatory investigations, RC audit findings etc. which gave us a clear idea about the wide scope of RC. Later, she explained and gave a gist about the compliance regulatory requirements in the banking industry which included risk management, money laundering, reporting, general data protection regulation, economic and trade transactions.
Finally, the speaker concluded by briefing about the financial service industry and its functioning it was indeed a very useful session; the highlight of the session is that even a student from non-commerce background also could easily relate the concept and understand the subject knowledge.