Assistant Vice President - Compliance

JD :

This role is responsible for ensuring that the CFHL adheres to all relevant laws, regulations, and internal policies. This is a crucial position because, being a HFC - NBFC, CFHL is heavily regulated to protect customers, maintain financial stability, and to prevent illegal activities like money laundering and fraud. Chief Manager 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 Chief Manager 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 HFC/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 HFCs 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.