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A pay grade is a unit in systems of monetary compensation for employment. It is commonly used in public service, both civil and military , but also for companies of the private sector. Pay grades facilitate the employment process by providing a fixed framework of salary ranges, as opposed to a free negotiation.
Similarly, in India, the Reserve Bank of India (RBI) mandates that banks appoint a Chief Compliance Officer to oversee compliance with banking regulations and guidelines. In Chile, companies are required to have a Crime Prevention Officer who fulfills the role of a Compliance Officer, as they manage the Crime Prevention Model within the ...
A job description or JD is a written narrative that describes the general tasks, or other related duties, and responsibilities of a position. It may specify the functionary to whom the position reports, specifications such as the qualifications or skills needed by the person in the job, information about the equipment, tools and work aids used, working conditions, physical demands, and a ...
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Compliance with bank regulations is verified by personnel known as bank examiners. The objectives of bank regulation, and the emphasis, vary between jurisdictions. The most common objectives are: prudential—to reduce the level of risk to which bank creditors are exposed (i.e. to protect depositors) [7]
For example, a national bank generally must limit its total outstanding loans and credits to any single borrower to no more than 15% of the bank's total capital and surplus. [15] [full citation needed] Some state banking regulations also contain similar lending limits applicable to state-chartered banks. [16]