Chief Compliance Officer

Role Overview:

The Chief Compliance Officer's (CCO) primary responsibility will be to have an oversight into the NBFC's compliance and regulatory framework, to ensure that the organization (and its employees) are following the rules and regulations of regulatory agencies, company policies and procedures and firm-wide standards of conduct. This role involves the development, implementation, and maintenance of a robust compliance framework and lead management initiatives to create a culture of compliance and ethics. The CCO will also provide visionary leadership on compliance & ethics related issues, proactively monitor regulatory changes, and collaborate with various departments to embed compliance into the organizations strategic risk management framework.

Key Responsibilities:

1. Regulatory Compliance & Governance:

• Ensure the Board and executive team stay updated on regulatory changes, rules, and emerging trends.
• Serve as the primary liaison between the NBFC and regulatory authorities, including RBI, ensuring timely compliance with supervisory observations and directions.
• Conduct annual compliance risk assessments and develop a risk-based compliance evaluation plan for Board/CEO approval.
• Report major compliance risks, breaches, and necessary corrective actions to the Board and CEO.
• Oversee compliance with RBI inspection reports, regulatory frameworks, and other applicable laws.
• Ensure adherence to Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations.
• Maintain robust data privacy and cybersecurity compliance in alignment with regulatory expectations.

2. Compliance Program Development & Monitoring:

• Design, implement, and maintain a comprehensive compliance program, integrating compliance considerations into business operations and risk management.
• Conduct periodic compliance testing, monitor effectiveness, and submit findings to senior management.
• Analyze compliance risks in new/existing products and implement appropriate risk mitigants.
• Participate in the New Product committee to assess compliance risks in newly introduced financial products.
• Ensure prompt remediation of non-compliance issues and communicate preventive measures to relevant stakeholders.
• Foster a proactive compliance culture through regular awareness programs and training initiatives.

3. Risk Management & Strategic Compliance Leadership:

• Provide strategic guidance to senior management on compliance-related matters.
• Conduct scenario planning to identify and mitigate potential compliance risks.
• Establish key compliance metrics and Key Result Areas (KRAs) for continuous monitoring and improvement.
• Lead crisis management efforts in events posing reputational risks.
• Ensure adherence to regulatory and statutory compliance, including EHS, data privacy, cybersecurity, HR, POSH, DEI, and ESG compliance as evolving additions.
• Oversee third-party risk management to ensure vendors and partners comply with regulatory standards.

4. Collaboration & Change Management:

• Work closely with Legal, Risk, Internal Audit, and other departments to ensure compliance integration across all business functions.
• Assist the Board and Senior Management in overseeing the implementation of compliance policies, procedures, and internal codes of conduct.
• Promote a culture of compliance, ethics, and integrity throughout the organization.
• Facilitate communication strategies for effective change management and regulatory adaptation.
• Develop and oversee training programs to enhance compliance awareness across all levels of the organization.

Requirements:

• Postgraduate degree in Law, Finance, CS, CA, MBA, or a related field.
• Minimum 15 years of experience in banking/financial services, with at least 5 years in compliance, legal, audit, finance, or risk management.
• Strong understanding of NBFC regulatory frameworks, RBI guidelines, and risk assessment methodologies.
• Demonstrated ability to implement and oversee compliance programs, risk mitigation strategies, and regulatory reporting.
• No pending vigilance cases or adverse regulatory observations.
• Should have worked as a CCO for minimum 3 Years.
• Experience in managing cross-functional regulatory requirements, including AML/KYC, data privacy, cybersecurity, and third-party compliance.