Assistant Vice President - Compliance - NBFC

Job Description :

About Avanse:

- Avanse Financial Services Limited is a new age, education focused NBFC on a mission to provide seamless and affordable education financing for every deserving Indian Student.

- Established in 2013, Avanse is on a journey to strengthen its leadership position in Education Lending by creating solutions for Individuals (Education Loans) and Indian Institutions (Education Infrastructure Financing) by providing solutions to every segment of the Indian education sector covering school education to post graduation while also contributing to build the education infrastructure in the country.

- Warburg Pincus, a leading global private equity firm holds 70.05 percent of Equity and Kedaara an Indian equity firm holds 12.44 percent stake in Avanse. The International Finance Corporation (IFC), an arm of the World Bank holds 17.51 percent equity stake. Avanse as an equal opportunity employer

- We give utmost importance to our cultural pillars which have embedded values aligned to Governance, Transparency, Meritocracy, Inclusivity and Happiness Quotient. Avanse is committed to workplace diversity and to cultivating, fostering and preserving a culture of inclusion. We believe that workplace Diversity and Inclusion refers to the recognition of employee differences, which if properly managed will enable work to be done more efficiently and effectively.

- Diversity and Inclusion does not focus exclusively on issues of discrimination but instead concentrates on recognizing and respecting the differences between people. Dimensions of Diversity include, but are not limited to, gender, race, ethnicity, language, age, religion, socio-economic status, physical ability, thinking style, experience and education. Aligned to its business objective of enabling education through financing for a diverse segment of customers and to its cultural pillar of Inclusivity, Avanse believes that the wide array of perspectives that result from such diversity promotes innovation and business success. Managing diversity makes us more creative, flexible and competitive. It also creates a productive working environment in which everyone feels valued and where their talent is fully utilized thereby making it inclusive.

- Passionate individuals who love to accept challenges with a problem-solving attitude will enjoy the work culture at Avanse. Our teams thrive to make the work environment exciting and vibrant and the organization promotes the culture of entrepreneurship and innovative mindset for a holistic growth.

Position Summary:

Role : AVP - Compliance

Designation of the incumbent : Assistant Vice President

Reporting to : Chief Compliance Officer

Place of Posting : Mumbai HO

Job Purpose:

- To ensure that the Company is fully compliant with all applicable regulations/guidelines from the RBI, SEBI & IRDA. To have unrestricted authority to review documents and information relative to compliance audit activities, access to employees, contracted professionals, agents and other third parties retained with an objective of protecting the interest of the organization in a pro-active, consultative & solution oriented manner.

Key Accountabilities:

- Managing and Undertaking Compliance Function of the Company- An NBFC-SI regulated by various regulators specifically RBI, IRDAI, MCA etc.

- Represent company for submissions before the regulators including RBI inspections, audits, NBFC-O meetings, Industry Forums etc.

- Monitor and advise on entire compliance activities of the company executed by other functions and external agencies including for Secretarial, Human Resource, Nodal Office, Risk & Audit

- Custodian of Compliance related policies of Company and contribute in building automation and efficacy in implementing best regulatory practices into policies

- To ensure filing of reports/returns as per extant regulations applicable to the company

- To conduct periodic assessment of the compliance risk and to develop risk oriented activity plan for compliance assessment

- To monitor, periodically test compliance and prepare for various audits and inspections as per regulatory requirements

- To examine sustenance of compliance as an integral part of compliance testing and compliance assessment exercise

- To ensure compliance of supervisory observations made by the Regulators viz. RBI , IRDAI and/or any other directions in both letter and spirit in a time bound and sustainable manner

- Ensuring Compliances and solutions are in line with the SARFAESI Act

Key Responsibilities:

- Provide practical solution to various business and support function within the Compliance parameters and mitigate regulatory risks

- Periodically give presentation to the management on compliance matters, key activities undertaken and planned and on sensitive areas of concern

- To apprise the management on regulations, rules and standards and any further regulatory development affecting the company / NBFC-SI & provide clarification on any compliance related issues

- Prepare training modules and knowledge series for raising awareness of the company staff on compliance related matters of the company

- Be a mentor and guide for the compliance team and the execution team, to deliver Compliance Functions in letter and spirit effectively

- To report promptly about any major changes /observations related to the compliance risk

- To periodically report on the compliance failures / breaches to the function concerned and bridge the gaps, if any

Required Experience:

- 10-12 years of experience in managing compliance function in BFSI with over 5 years of experience in NBFC-SI compliances regulated by RBI and IRDAI (corporate agent)

- Experience with listed NBFC-SI will be an added advantage

Required Qualification:

- Bachelors or Masters in any discipline with good academic record

- Company Secretary Professional Examination is desirable

- Completion of IRDA certification for Principal Officer

- Completion of Securities Intermediaries Compliance Certification would be an added advantage

Technical Competencies:

- Strong understanding of current regulations impacting NBFC companies

- Knowledge on Audits & Statutory compliances

- Advanced computer skills and working knowledge of Microsoft Office

- Ability to interpret regulatory notifications & circulars and clearly articulate for internal understanding & compliance

- Savvy in managing regulators

- High on governance and compliance mindset

Behavioral Competencies :

- Strategic Orientation

- Customer Centricity

- Execution Focus

- Collaborative Approach

- People Excellence

- Personal Attributes

- Clear Communication Skills

- Flexible and adaptable

- Self-driven, Proactive and strong interpersonal skills

- Conscientious

- Upright & honest