Job Description

Company Overview

Kosamattam Finance Ltd. is a trusted partner in addressing financial grievances and delivering financial services for the common man. With over 150 years of experience, we prioritize customer investments and our brand reputation. We have a strong presence in the loan and financial services industry and are committed to maintaining our position as a reliable and trustworthy organization.

Job Overview

Mid-Level: 4 to 6 years of experience, Full-Time position in Hyderabad, Telangana, India. Kosamattam Finance Ltd. is seeking a Vigilance Officer to ensure compliance with legal and regulatory requirements and maintain a safe and secure work environment.

Qualifications and Skills

• Bachelor\'s degree in a relevant field
• Retired police officer.
• Proven experience as a Vigilance Officer or similar role
• Knowledge of legal and regulatory requirements relevant to the financial services industry
• Strong analytical and problem-solving skills
• Excellent communication and interpersonal skills
• Ability to work independently and make sound decisions
• Attention to detail and high level of integrity
• Proficiency in MS Office and other relevant software

Roles and Responsibilities

• Develop and implement effective vigilance policies and procedures to ensure compliance with legal and regulatory requirements
• Conduct regular audits and risk assessments to identify vulnerabilities and recommend appropriate corrective actions
• Investigate and resolve any instances of fraud, misconduct, or non-compliance
• Maintain a safe and secure work environment by implementing security measures and monitoring systems
• Train employees on vigilance policies, procedures, and best practices
• Collaborate with internal teams and external stakeholders to address vigilance-related issues
• Ensure timely reporting of vigilance-related incidents and provide recommendations for improvement
• Stay updated with industry trends and changes in regulations related to vigilance and incorporate them into the company\'s policies and procedures

Role of Vigilance Officers

1. Prevention of forgery, cheating, abuse of official position with a view to obtaining pecuniary or non-pecuniary advantage for self or for any other person.

2. Examine in detail the existing Rules and procedures of the company with a view to eliminate or minimize the scope for corruption or malpractices.

3. Identify the sensitive/corruption prone spots in the company and keep an eye on personnel handling such areas.

4. Maintain proper surveillance on officers of doubtful integrity; like their life style, doing private businesses / family business, staff get-together, Benami Transactions etc.

5. Prevention of lapses involving but not limited to any of the following ;

(a) Gross or willful negligence;

(b) Recklessness;

(c) Cause of undue loss or a concomitant gain to an individual or a set of individuals/a party

or parties

(d) Flagrant violation of systems and procedures.

6. Examine the Organization procedure and eliminate or minimize factors that provide opportunities for corruption or malpractices and suggest remedial measures.

Duties of Vigilance Officers

1. Plan, conduct regular inspections and surprise visits

2. Follow up of Major irregularities reported in branches by Appraisers/Auditors (Spurious/Low Purity/Weight Difference/Stone Weight Difference).

3. Follow up of police cases and other legal matters reported in the branches of respective Regions.

4. Verification of Cash and Gold packets subject to special permission from Head Office, whenever it is necessary and suspicious transactions verification. Matters which require urgent and special attention is to be reported instantly by Flash Report to HO.

5. Identify sensitive Branches and plan surprise inspections to these branches at least once in 3 months and once in 6 months for other branches.

6. Preparation of list of Officials with Doubtful Integrity.

7. Investigation of Complaints which include customer and third party complaints connected to company officials.

8. Grant of Vigilance Clearances for new joiners

9. Maintain close liaison / interaction with HO Depts. on vigilance matters.

10. Speedy processing of vigilance cases at all stages, daily / periodic review of all pending cases with HO. In addition, VO would also be required to furnish report on the vigilance activities in his jurisdiction on a periodic basis, preferably monthly

11. Devise and adopt appropriate methods to collect information about any malpractice and misconduct among the employees referred.

12. Close liaison and co-operation between the law enforcement authorities and other competent authorities during the course of investigation and recovery.

13. Develop an effective fraud risk management system in the company.

14. Documenting, investigative outcomes and findings in the form of comprehensive investigation reports

15. Review and update the status of cases with Audit/ Division/ Zonal Head / Regional Heads etc on a periodic intervals

16. Actively monitor the businesses activities of branches and provide technical expertise from a fraud loss avoidance risk management perspective.

17. Work with internal and external teams to identify risk factors and trends of abnormal activity and suggest change with respect to policy and procedure changes.

18. Access the industry /area specific risk and report it to competent authorities. Assist the management in development and implementation of new controls mechanism or for modification of existing one.

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