Banking, finance and insurance
Ujjivan Small Finance Bank Compliance Officer Interview: Rounds, Questions and Preparation
For Compliance Officer roles at companies like Ujjivan Small Finance Bank
What the job involves
A Compliance Officer in banking, finance, or insurance ensures that the organisation adheres to all applicable laws, regulations, and internal policies. Day to day, this involves monitoring transactions, conducting risk assessments, updating policies, training staff, and liaising with regulators. In a small finance bank like Ujjivan, the role also focuses on inclusive banking regulations and customer protection norms.
Role and Technical Knowledge
- 1
What are the key RBI guidelines that a small finance bank must follow for KYC?
Mention the KYC Master Direction, customer due diligence, periodic updation, and risk categorisation. Highlight simplified KYC for low-risk customers.
- 2
Explain the difference between AML and CFT in the context of banking compliance.
AML focuses on preventing money laundering, while CFT targets terrorist financing. Both involve suspicious transaction reporting and customer screening.
- 3
What is the role of a Compliance Officer in preventing money laundering?
Cover monitoring transactions, filing STRs/CTRs, training staff, and ensuring adherence to PMLA. Emphasise the risk-based approach.
- 4
How does Basel III affect capital adequacy and compliance in banks?
Discuss capital buffers, leverage ratio, and liquidity coverage. Relate to how compliance ensures these ratios are met.
Practical Scenarios
- 5
You notice a colleague processing a loan without proper KYC documents. What do you do?
Show integrity: escalate to senior compliance or management, document the issue, and ensure the customer is not onboarded until compliant.
- 6
A customer complains that their account was frozen without notice. How do you handle this?
Acknowledge the complaint, check if it was due to regulatory requirements, explain the process, and guide them on resolution while maintaining confidentiality.
- 7
How would you handle a situation where a senior manager asks you to ignore a minor regulatory breach?
Emphasise ethical conduct: politely explain the risks, document the request, and escalate to the compliance head or audit committee if needed.
- 8
You are asked to conduct a compliance training for branch staff. How would you approach it?
Assess training needs, use simple examples, cover key regulations like KYC and fair practices, and include a quiz to reinforce learning.
Behavioural and HR
- 9
Why do you want to work as a Compliance Officer in a small finance bank?
Show interest in financial inclusion and regulatory challenges. Mention how small finance banks serve underserved segments and need strong compliance.
- 10
Describe a time when you had to follow rules even when it was inconvenient.
Use a STAR example from college or internships. Highlight your commitment to integrity and ability to explain the rationale to others.
- 11
How do you stay updated with changing regulations?
Mention reading RBI circulars, following financial news, taking online courses, and participating in compliance forums.
- 12
Where do you see yourself in five years in the compliance field?
Show a clear path: gaining expertise in banking regulations, pursuing certifications like CAMS or IRDAI, and taking on leadership roles.
Industry and Current Affairs
- 13
What are the recent regulatory changes affecting small finance banks in India?
Discuss RBI's revised norms on priority sector lending, licensing guidelines, or digital lending. Show awareness of the sector's evolution.
- 14
How does the Fair Practices Code protect customers in a bank?
Cover transparency in charges, grievance redressal, and fair treatment. Mention RBI's guidelines on customer protection.
- 15
What is the significance of the Prevention of Money Laundering Act (PMLA) for banks?
Explain reporting obligations, record-keeping, and penalties for non-compliance. Link to how banks mitigate money laundering risks.
- 16
How can a bank balance business growth with strict compliance?
Discuss risk-based compliance, technology for monitoring, and a culture of ethics. Emphasise that compliance enables sustainable growth.
Ready to try it for real?
Take a timed test or talk through a mock interview for this role, then see your scores.
This is practice material for Compliance Officer roles, written with AI. It is not a list of questions Ujjivan Small Finance Bank or any other company has asked.