AVP - Compliance - BFSI

AVP-Compliance

Compliance:

Educational /Qualification : CS, Law Degree

Number of years of Experience : 10-15 years

Skillset : Compliance, Audit, Secretarial

Team Handling : Yes

Industry experience : BFSI

Job Responsibilities:

You will be part of the group in a growing NBFC Compliance:

a. Develop and maintain regulatory policies and procedures under the Compliance Program, including review mechanisms to ensure its continuous effectiveness in ensuring all applicable compliances by the company also managing day-to-day operations of the compliances.

b. Collaborate with cross-functional teams to facilitate implementation of compliance requirements at all levels/process of the organization and to direct compliance issues to respective functions for resolution.

c. Ensure compliance with the statutory requirements and regulations prescribed for NBFC by RBI and all other applicable laws/policies.

d. Should be able to independently draft compliance checklists, manuals and other regulatory documentation such as Money laundering Risk assessment etc..

e. Monitor & Highlight alleged violations of RBI laws, rules and regulations applicable to NBFCs and recommend procedures for corrective action.

f. Maintaining and organize compliance records in consonance with internal control and audit mechanisms.

g. Establish and drive implementation of Corporate Governance norms to ensure transparency across business operations.

h. Liaise and build relations with the Registrar of Companies, Reserve Bank of India and other statutory authorities. Periodically provide returns/forms required by them.

i. Assist in advising management of the legal, regulatory implication of proposed new initiatives of the Company.

j. Understanding of Capital Adequacy, SBL, GBL and customer complaints related Compliances.

k. Experience of handling governance and compliance activities in the Banking and Financial Service Related Industry.

l. Good understanding of Fair Practices code and AML.

m. Help develop technology solutions to support the various Compliance programs.

n. Develop and disseminate Compliance and risk trainings and ongoing communications that help drive Company's culture of compliance.

o. Preparation of notes for Board on these regulatory requirements

p. Interpretation, study and market practice on various Business compliance calls.

q. Attending and preparing replies to RBI inspection report.

r. Understand the business and accordingly structure the draft in terms of papers, compliance and risk.

s. Experience in managing RBI related regulations including Moratorium, Restructuring, Credit Guarantee Schemes etc..

Internal Control:

- Perform regular and comprehensive compliance reviews and Internal Control oversight.

- Oversee and monitor the Control risks viz. a viz. Group standards and local regulatory environment, identify breaches and suggest/ implement mitigation measures.

- Review and regular update of policies and procedures in view of new regulations including compliance manuals.

- Regular reporting to Management on incidents of control breaches and corrective action required.

Legal and Regulatory:

- Act as principle interface between the Bank and RBI on all banking matters.

- Manage the relationship with the regulators namely RBI, AML authorities etc.

- To obtain approvals / licenses / certifications from regulatory bodies such as RBI's approval for CEO's appointment, Opening of new Branch, Branch shifting and RBI's certification of new product offering wherever needed.

- To ensure legal / compliance diligence for new customers/ vendors on boarding: KYC, Intelligence checks and AML verifications.

- To protect the interest of the Bank. Final vetting and concurrence to all product offerings, agreements, Loan documentation, contracts, Guarantees / LC drafts including cross border transactions from Compliance and AML perspective.

- Manage relationship with law firms and network of lawyer's.

- To ensure compliances of other regulatory laws as FATCA, Companies Act, Income Tax Act, EPF authorities, PMLA, GST. Secretarial

- Secretarial Compliance with respect to Companies Act, 2013

- Maintenance of all statutory registers/filings

- Drafting Memorandum and Articles of Association / Consolidation of Shares.

- Issue of Preference Shares/ Debentures/ and related Compliances.

- Corporate Governance & Disclosures related compliance under Listing

- Regulations and implementing best practices within the organization in consultation with the management

- Minutes of Board meeting, General Meetings, Shareholders' meeting & Committee meetings

- Handling physical Board meeting, General Meetings, Shareholders' meeting & Committee meetings and providing Executive Presence and guidance.

- Mergers / Equity infusions / Shareholders Agreements.

- Compliance with Listing Agreements.

- Labour Laws & Other laws

- Listing of Group Companies on stock exchanges, if required

- Issue of Compulsory Convertible Debentures (CCD) and related compliances.

- RBI Compliances/ Disclosures for Issue of Debentures to Overseas

- Companies/ Foreign Entities./ FCGPRS compliances.

- Liaising with Banks for settlements of Bad Debts/ OTS.

- Mergers / Equity infusions, Execution of Shareholders Agreement etc.

- Preparation of Annual General Meeting Notice, Directors Report

- Preparation of Empanelment forms with various banks and institutions

- Travel involved will be 10%

- Require significant amount of prioritization & team management skills

- Strong communication & presentation skills

- Strong controller of risk areas

- Must have a customer based approach

- Co-lead process redesign & automation initiatives

- Beneficial to have knowledge best practices in industry