Compliance Head

Job Description

Job Summary: The CO will play a critical role in ensuring the organization's adherence to regulatory requirements and internal policies, fostering a robust compliance culture, and serving as a liaison with regulatory bodies. The ideal candidate would have extensive experience in the BFSI sector, particularly with NBFCs, and a proven track record in managing compliance functions and interacting directly with regulators. Key Responsibilities: Compliance Oversight: Assist the Board and Senior Management in implementing and overseeing the Compliance Policy, including policies and procedures, Compliance Manuals, internal codes of conduct, and more. Compliance risk Identification and Mitigation: Identify compliance risks within the organization, analyze risks associated with existing and new products/processes, and implement appropriate risk mitigants. Participate in 'new product' committees to ensure intensive monitoring of new products for the first six months. Monitoring and Testing: Conduct sufficient and representative compliance testing, report results to Senior Management, and circulate instances of compliance failures among staff along with preventive instructions. Examine staff accountability for major compliance failures. Regulatory Compliance: Ensure compliance with regulatory and supervisory directions from the RBI and other regulators in both letter and spirit, in a time-bound and sustainable manner. Ensure all Risk Mitigation Plan (RMP) and Monitorable Action Plan (MAP) points are compiled within prescribed timelines. Regulatory Liaison: Serve as the primary contact point between the company and regulators/supervisors, participate in structured or regular discussions with the RBI, and communicate compliance to RBI inspection reports through the Compliance Function. Stakeholder Support: Act as a reference point for internal stakeholders from operational departments for clarifications/interpretations of various regulatory and statutory guidelines.