Job Description

We are hiring for a compliance officer for the organization and we are inviting applications specifically from compliance officers at NBFC / MFI / banks who are qualified Company Secretary and L.L.B . The incumbent should be based out of Bengaluru preferably. Scope of role - As part of the overall structure for Corporate Governance, the Compliance Function serves a critical role. Therefore, it has been decided to introduce certain principles, standards and procedures for Compliance Function in Vistaar Finance Limited, keeping in view the principles of proportionality. The incumbent shall put in place a Board-approved policy and a Compliance Function based on the framework provided by the honourable Reserve Bank of India. Scope and Coverage of Compliance Function - Compliance Function shall ensure strict observance of all statutory and regulatory requirements for the UCB, including standards of conduct, managing conflict of interest, treating customers fairly and ensuring the suitability of customer service. Critical KRA\'s for Chief Compliance Officer (and not limited to) - i) Carry out an exercise, at least once a year, to identify and assess the major Compliance risk facing the organization and formulate plans to manage it; ii) Submit to the Board / Board Committee a review at the prescribed periodicity and a detailed annual review of Compliance; and iii) Report promptly to the Board / Board Committee on any material Compliance failure while ensuring that appropriate remedial or disciplinary action is taken. iv) Assist the Board and the Senior Management in overseeing the implementation of Compliance Policy including policies and procedures, prescriptions in Compliance Manuals, internal codes of conduct, etc. v) Play the central role in identifying the level of Compliance risk in the organisation. The Compliance risks in existing / new products and processes shall be analysed and appropriate risk mitigants put in place. The Chief Compliance Officer (CCO) shall be a member of the \'new product\' committee(s). All new products shall be subjected to intensive monitoring at least for the first six months of introduction to ensure that the indicative parameters of Compliance risk are adequately monitored. vi) Compliance Function shall monitor and test Compliance by performing sufficient and representative Compliance testing, and the results of such Compliance testing shall be reported to the Senior Management. It shall periodically circulate the instances of Compliance failures among staff, along with the required preventive instructions. Staff accountability shall be examined for major Compliance failures. vii) Ensure compliance of regulatory / supervisory directions given by RBI in both letter and spirit in a time-bound and sustainable manner. RBI will continue to expect an effective Compliance Program where all Risk Mitigation Plan (RMP) / Monitorable Action Plan (MAP) points are complied with within the timelines prescribed. Unsatisfactory compliance with RMP/MAP may invite penal action from RBI. viii) Attend to compliance with directions from other regulators in cases where the activities of the entity are not limited to the regulation / supervision of RBI. Further, discomfort conveyed to the UCB on any issue by other regulators, and action taken by any other authorities / law enforcement agencies, shall be brought to the notice of RBI. ix) The Compliance Department may also serve as a reference point for the staff from operational departments for seeking clarifications / interpretations of various regulatory and statutory guidelines. Send resumes to [HIDDEN TEXT] / [HIDDEN TEXT]

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