General Manager - Compliance - Microfinance

GM - Compliance (Microfinance)

Job Objective :

- The General Manager Compliance is responsible for the firm's risk management operations including identifying, evaluating, managing, reporting and overseeing the firm's risks externally and internally to the organization.

- He / She will report into CCO and work closely with senior management to design and implement risk framework by developing relevant policies / processes and guideline focusing on minimizing / mitigating the inherent credit, operations and regulatory risks.

Roles & Responsibilities :

Risk Assessment :

- Develop and implement risk management policies to facilitate lending activities while ensuring compliance with regulatory requirements.

- Provide strategic guidance on risk-based decisions to optimize business returns.

- Champion the development of adaptable risk models using alternate data sources to enhance credit / operational risk assessment and gain a competitive advantage.

- Oversee the review and enhancement of risk models to ensure their effectiveness in assessing a diverse range of loan applicants.

- Establish and lead rigorous reviews of risk models, credit policies, and procedures to ensure alignment with business objectives and regulatory standards.

- Develop and implement product and portfolio-level credit policies to optimize risk management and business growth.

- Oversee the credit approval process and lending policies, ensuring dynamic adjustments as necessary to operate in the most risk-optimized environment.

- Implement portfolio monitoring systems to track the performance of current and future credit products, enabling proactive risk management.

Compliance Management & Reporting :

- Spearheading legal and governance and the drafting & advisory optimizing legal risk management practices to safeguard the organization's interests and maximize shareholder value.

- Adhering to RBI regulations, including conducting audits, developing policies, frameworks, and controls to meet regulatory requirements. Liaison with regulators for queries, audits, and updates, maintaining compliance with reporting obligations.

- Establishing a robust compliance framework, implementing procedures to monitor compliance reporting requirements and conducting risk assessments.

- This involves designing internal controls, periodic compliance testing, audits, and corrective measures to prevent and detect non-compliance Issues.

- Overseeing Anti-Money Laundering (AML), Counter Financing of Terrorism (CFT), and Know Your Customer (KYC) policies and procedures.

- This includes updating sanction lists, conducting customer due diligence, monitoring transactions, and reporting suspicious activities. Serving as the Principal Officer for AML/CFT/KYC compliance.

- Implementing whistle-blower mechanisms, ethics guidelines, and codes of conduct to uphold integrity standards and ensure adherence to legal and ethical practices.

- Coordinating with legal counsels and advocates to handle litigation effectively, including drafting legal notices and representations.

- Looking for Process Automation Opportunities in collaboration with Business / Finance / Operations & IT functions to minimize / mitigate the risk and compliance failure.

- Implementing a comprehensive legal compliance program, training sessions, and legal risk assessments to ensure adherence to regulatory and ethical standards.

- Ensuring timely compliance with various laws, regulatory guidelines including RBI, FEMA compliance with FDI and ODI, governance principles, and best practices, advising the Board on legal affairs.

- Formulating and executing crisis management and contingency plans, effectively mitigating legal and reputational risks during sensitive and high-profile incidents.

- Planning & managing RBI Inspection and compliances.

Skills and other Attributes required :

- Proven experience in risk management within the financial services industry, with a focus on credit risk.

- Strong understanding of risk modelling techniques, credit policies, and regulatory requirements.

- Excellent leadership and communication skills, with the ability to collaborate effectively across teams.

- Strategic thinker with the ability to drive innovation and continuous improvement in risk management practices.

- Keep himself / herself abreast with regulatory changes (latest judgements & proposed changes in the Law and its impact on the functioning of the company).

Qualifications AND Experience :

- Master's degree in Finance/Economics/Business Administration or a related field.

- A total of 15+ years of experience in NBFC/Bank environment with min 5 years in managing the compliance function in a Bank / NBFC at Corporate (mid-size Bank / NBFC) / or Zonal Level (Large Bank / Large NBFC).

Compensation - 30 to 35 Lacs