Compliance and Principal Officer-IBU

Role/ Job Title:

Function/ Department:

Job Purpose:

The role of Compliance Officer (CO) & Principal Officer (PO) at GIFT City IBU is a Designated Position and to be always held by an Approved Individual, as per IFSCA regulations.

As CO & PO of the IBU, you need to perform your duties objectively and independently of operational and business functions. You shall have ultimate responsibility for all compliance matters pertaining to IBUs activities.

Roles & Responsibilities:

• Set up & monitoring of robust & sustainable acquisition workflows implementation, processes & initiatives.
• Advisory support to various business and operations regarding IFSCA regulatory compliance and to manage overall Compliance risk in the business of IBU transactions.
• Interaction with the IFSCA Authority, understanding the regulatory requirements and dissemination of IFSCA regulations/guidelines/circulars relating to IBU.
• Implementing Regulatory IFSC/RBI/FEMA/FEDAI guidelines and internal policies with respect to IBU.
• Risk Based Supervision Co-ordinating off site and Onsite Review by IFSCA and other auditors.
• Formulation and Periodic review of Policies / Product Notes/SOP/SLA with respect to IBU.
• Establishing Compliance Monitoring Plan and review of the same.
• Assisting Walk through and Control testing, Outsourcing review every half year.
• Draft/Assist in vetting of regulatory correspondences.
• To perform other Compliance activities as may be assigned by the governing body.
• Handle the vital role of KYC/AML compliance in the capacity of the Principal Officer of IBU.
• Carrying out, or overseeing the carrying out of, ongoing monitoring of business relations for compliance with the regulatory guidelines.
• Promoting compliance of the regulatory guidelines and taking overall charge of all AML/CFT matters.
• Informing employees, officers and representatives promptly of regulatory changes.
• Ensuring a speedy and appropriate reaction to any matter in which ML/TF is suspected.
• Communicating Regulators,repository agencies such as RBI, FIU IND etc. from time to time.
• Responsible for ensuring implementation of AML scenarios as per extant regulatory guidelines, reviewing and dispose-off alerts/transactions and file regulatory reports under PMLA such as STR/ CTR/CBWTR/ NTR/CCR or such other extant regulations as applicable from time to time.
• Thorough with RBI & FEMA regulations, preferably international business.
• Ability to understand evolving regulatory landscape and formulate/ review policies.