Compliance Officer

Key Responsibility Areas (KRA):

The Compliance Officer in an AD-II company plays a critical role in ensuring adherence to regulatory guidelines, minimizing financial risks, and maintaining ethical business practices.

1. Regulatory Compliance:

* Ensure strict adherence to RBI, FIU-IND, FEMA, and other regulatory bodies guidelines.

* Stay updated with changes in regulations and implement necessary policy modifications.

* Ensure timely filing of statutory reports (e.g., CTR, STR, NTR, FMR reports to FIU-India).

* Act as the primary liaison between the company and RBI, FIU-IND, and other government bodies.

2. AML/KYC Compliance:

* Implement and monitor Anti-Money Laundering (AML) and Know Your Customer (KYC) guidelines.

* Ensure that all customers are onboarded after thorough due diligence and verification as per RBI norms.

* Conduct risk profiling of customers and ensure transactions are within regulatory limits.

* Report Suspicious Transactions (STR) and Currency Transaction Reports (CTR) to FIU-India.

3. Internal Audits & Monitoring:

* Conduct periodic internal compliance audits to assess branch-level and company-wide adherence to regulations.

* Identify and escalate compliance breaches with necessary corrective action plans.

* Oversee foreign exchange transactions to ensure adherence to FEMA and RBI guidelines.

* Maintain detailed documentation of compliance checks and audit findings.

4. Policy Implementation & Training:

* Develop and implement internal compliance policies (AML/KYC, Risk Management, POSH, HR policies, etc.).

* Conduct regular training sessions for employees on compliance policies and regulatory updates.

* Ensure that compliance awareness is maintained across all branches and departments.

5. Reporting & Coordination:

* Ensure timely submission of all compliance-related reports to RBI, FIU-India, and other regulators.

* Address queries raised by regulatory bodies and coordinate during inspections or audits.

* Maintain a robust MIS system for tracking compliance-related data and reporting discrepancies.

6. Risk & Fraud Management:

* Identify, assess, and mitigate compliance risks related to forex, remittances, and other AD-II activities.

* Investigate and report fraudulent transactions and policy violations.

* Work closely with the Risk & Credit Control team to strengthen internal controls.

7. Coordination with Other Departments:

* Work in tandem with the Operations, Sales, and Risk Management teams to ensure compliance is maintained.

* Provide compliance-related inputs during new product launches, branch expansions, or regulatory changes.

* Coordinate with external auditors and regulatory bodies for inspections and compliance verifications.