Job Description

:

- Lead the Compliance Function for the Company and strengthen the Compliance culture in the organisation

- Ensure strict observance of all statutory and regulatory requirements for the NBFC, including standards of market conduct, managing conflict of interest, treating customers fairly and ensuring the suitability of customer service - Carry out an exercise, at least once a year, to identify and assess the major Compliance risk facing the NBFC and formulate plans to manage it; - Submit to the Compliance Review Board of Management/Board /Board Committee a review at the prescribed periodicity and a detailed annual review of Compliance

- 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 - 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 for at least the first six months of introduction to ensure that the indicative parameters of Compliance risk are adequately monitored.

- 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.

- Ensure compliance of regulatory/ supervisory directions given by RBI in both letter and spirit in a timebound and sustainable manner. RBI will continue to expect an effective Compliance Program where all (RMP) / Monitorable Action Plan (MAP) points are complied with within the timelines prescribed. Unsatisfactory compliance with RMP/MAP may invite penal action from RBI.

- A- end 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 NBFC on any issue by other regulators, and ac- on taken by any other authorities / law enforcement agencies, shall be brought to the notice of RBI.

- Serve as a reference point for the staff from operational departments for seeking clarifications / interpretation of various regulatory and statutory guidelines

- Responsible for designing, implementing and monitoring the compliance processes & systems by which the company will comply with all applicable laws and regulations

- Play the central role in identifying the level of Compliance risk in the organisation and drive the actions for mitigation of these risk

- Play significant role in identifying the level of Compliance risk in the organisation. Conduct periodic risk assessments to identify areas of potential compliance vulnerability.

- Develop and deliver compliance training to the company\'s staff and create awareness around all new and regular compliances

- Ensure compliance of regulatory/ supervisory directions given by RBI & other regulators in both letter and spirit in a time-bound and sustainable manner

- 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

Job Profile :

- Seek clarifications / interpretation of various regulatory and statutory guidelines for implementation

- Collaborate with other departments to ensure compliance with all relevant laws and regulations

- Keep abreast of regulatory developments and changes to laws and regulations

- Represent the company in discussions with regulatory authorities

- Ensure that the company\'s compliance program & systems are regularly updated and functioning effectively

- The CCO shall be the nodal point of contact between the NBFC and the regulators / supervisors and shall necessarily be a participant in the structured or other regular discussions held with RBI. Further, compliance to RBI inspection reports shall be communicated to RBI necessarily through the office of the Compliance Function

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