Job description
This role is responsible for ensuring that the company adheres to all relevant laws,
regulations, and internal policies. This is a crucial position because, being a
regulated entity. Chief compliance officer (CCO) shall oversees and ensures an
organization's adherence to legal, regulatory, and ethical standards, often at a senior
management level.
Job Responsibilities:
The job profile of a CCO typically includes the following responsibilities:
a. Regulatory Compliance: Staying updated with all the relevant laws,
regulations, and guidelines issued by regulatory authorities such as the
Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI),
and others. Ensuring the Company's operations are in compliance with these
regulations.
b. Policy Implementation: Developing, reviewing, and implementing internal
policies and procedures to ensure that the Company's operations comply with
both internal standards and external regulations.
c. Risk Assessments: Conducting risk assessments to identify potential
compliance risks and vulnerabilities within the Company's operations and
proposing strategies to mitigate those risks.
d. Training and Awareness: Providing training and awareness programs to
Company staff to ensure they understand and comply with relevant
regulations and internal policies.
e. Monitoring and Reporting: Regularly monitoring the Company's activities to
ensure compliance with established policies and regulations. Preparing and
submitting reports to senior management and regulatory authorities as
required.
f. Internal Audits: Coordinating with internal and external auditors to conduct
compliance audits and reviews.
g. Investigating Compliance Violations: In case of any compliance violations
or irregularities, conducting investigations and taking appropriate actions to
address the issues.
h. Liaison with Regulatory Authorities: Acting as the point of contact for
regulatory authorities during audits and inspections.
i. Industry Changes and Updates: Staying informed about the latest
developments in the fintech/ Non banking and banking industry and how they
might impact the Company's compliance requirements.
j. Collaboration and Leadership: Collaborates with other departments and
teams to ensure compliance. Also, serves as a leader and advocate for
compliance within the organization.
Skills:
- A bachelor's degree in business law, finance, capital markets or a
related filed. Degree like LLB/LLM, CS, CA is preferred.
- The staff of Compliance Department shall preferably have a fair
knowledge in field of law, accountancy, risk management and
information technology and also adequate practical experience in
various business lines and Audit/Inspection functions.
- He must be capable of identifying and assessing the main compliance
risks facing the Company and formulate plans to manage and mitigate
them.
- He must be well trained to keep himself up-to-date with developments
in the areas of laws, Rules and standards, regular and systematic
education and training.
- He must be capable of promptly reporting to the Audit Committee &
Board for any material compliance failures, i.e. failure that may attract
significance risk of legal and regulatory sanctions, material financial
loss or loss of reputation.
- He must be capable of reporting Compliances pertaining to all laws
applicable to the Company and the steps taken by the Company to
rectify instances of non-compliances before the ACB and the Board
pursuant to Regulation 18(3) & 17(3) respectively of SEBI (Listing
Obligations & Disclosure Requirements) Regulations, 2015 (w.e.f.
01/12/2015) as amended from time to time.
- Overall aggregate work experience of 10 years in Compliance,
regulatory affairs or a related field in a BFSI sector. Experience in
Fintechs is preferred.
- Excellent analytical and problem-solving skills.
- Strong communication and interpersonal skills.
- Experience in compliance program development and implementation.
- Leadership and management skills.
- Ability to work independently and as part of a team.
