Senior Vice President - Compliance - NBFC

Job Title : SVP - Compliance

Reporting Manager : Chief Compliance Officer

Purpose of the Job:

- Seek clarifications/interpretation of various regulatory and statutory guidelines for implementation

- Collaborate with other departments to ensure compliance with all relevant laws and regulations

- Keep abreast of regulatory developments and changes to laws and regulations

- Represent the company in discussions with regulatory authorities

Responsibilities:

The most important tasks performed on an individual basis without involving subordinates are:

1. Tracking implementation of regulatory guidelines:

- Ensure strict observance of all statutory and regulatory requirements for the NBFC, including standards of market conduct, managing conflict of interest, treating customers fairly, and ensuring the suitability of customer service

- Carry out an exercise, at least once a year, to identify and assess the major Compliance risk facing the NBFC and formulate plans to manage it

2. Regulatory reporting and correspondence:

- Submit to the Compliance Review Board of Management/Board /Board Committee a review at the prescribed periodicity and a detailed annual review of Compliance

- Assist the Board and the Senior Management in overseeing the implementation of the Compliance Policy, including policies and procedures, prescriptions in Compliance Manuals, internal codes of conduct

3. Compliance with Corporate processes and procedures:

- Monitor and test Compliance by performing sufficient and representative Compliance testing, and the results of such Compliance testing shall be reported to the Senior Management. It shall periodically circulate the instances of compliance failures among staff, along with the required preventive instructions. Staff accountability shall be examined for major Compliance failures.

4. Audits with regulatory:

- End-to-end compliance with directions from other regulators in cases where the activities of the entity are not limited to the regulation/supervision of RBI. Further, discomfort conveyed to the NBFC on any issue by other regulators, and actions taken by any other authorities/law enforcement agencies, shall be brought to the notice of RBI.