Website Dimensions HRD Consultants
Job Description – Chief Compliance Officer
Designation: Chief Compliance Officer (CCO)
Location: Mumbai
Reporting to: Managing Director & CEO
Functional Interface: Board / Board Committee, Senior Management & Regulators
Industry: Large NBFC / Financial Services
Role Overview:
The Chief Compliance Officer will lead the organisation’s independent Compliance Function and will be responsible for establishing and strengthening a robust compliance, regulatory governance and conduct framework across the NBFC.
The CCO will act as the principal compliance advisor to the MD & CEO, Senior Management and the Board/Board Committee and will serve as the key interface with the Reserve Bank of India (RBI) and other regulatory/statutory authorities.
The role requires a senior financial – services professional with strong knowledge of RBI regulations, NBFC regulatory frameworks, compliance risk management, corporate governance and regulatory engagement.
Key Responsibilities:
1. Regulatory Compliance & Governance:
– Provide independent oversight of compliance with RBI regulations, applicable laws, rules, notifications, directions and regulatory guidelines.
– Establish and continuously enhance the enterprise – wide Compliance Management Framework.
– Ensure effective implementation of the Board – approved Compliance Policy.
– Identify, assess, monitor and report material compliance risks across the organisation.
– Ensure timely implementation and closure of RBI inspection observations, Risk Mitigation Plans and regulatory requirements.
– Monitor regulatory developments and translate them into actionable requirements for business and support functions.
2. RBI & Regulatory Interface:
– Act as the principal/nodal point of contact between the NBFC and RBI.
– Lead regulatory interactions, inspections, reviews and correspondence relating to compliance.
– Coordinate responses to RBI observations and ensure sustainable closure of regulatory findings.
– Manage interactions with other applicable regulators, statutory authorities and supervisory bodies.
– Ensure timely and accurate regulatory reporting.
3. Board & Senior Management Responsibilities:
– Provide independent compliance advice to the MD & CEO and Senior Management.
– Present periodic Compliance Risk Reports to the Board/Board Committee.
– Highlight material or emerging compliance risks and significant regulatory breaches on a timely basis.
– Conduct an annual enterprise – wide assessment of major compliance risks and develop mitigation plans.
– Advise the Board and management on regulatory implications of strategic initiatives, business models and new products.
4. New Products, Business Initiatives & Change:
– Review compliance implications of all new products, processes, technology initiatives and business models before implementation.
– Participate in the New Product Approval Committee and provide independent compliance clearance.
– Assess regulatory risks associated with digital lending, co – lending, fintech partnerships, outsourcing, securitisation, lending products and other emerging business models.
– Ensure regulatory requirements are embedded into product and process design.
5. Compliance Testing & Monitoring:
– Develop a comprehensive risk – based Compliance Monitoring and Testing Programme.
– Undertake thematic reviews and compliance testing across business and functional areas.
– Track compliance exceptions and ensure timely remediation.
– Establish appropriate compliance dashboards, KRIs and early – warning indicators.
– Ensure recurring compliance failures are analysed for root cause and corrective action.
6. Customer & Conduct Compliance:
– Strengthen the framework for fair customer treatment and responsible lending.
– Oversee compliance relating to customer protection, grievance redressal, recovery practices, outsourcing and customer communications.
– Monitor conduct risk, conflict – of – interest issues and adherence to the organisation’s Code of Conduct.
– Ensure compliance with applicable digital lending and customer – data requirements.
7. AML / KYC & Financial Crime Compliance:
– Provide oversight of the organisation’s AML/KYC and financial – crime compliance framework.
– Ensure appropriate compliance with PMLA, KYC and applicable RBI requirements.
– Oversee monitoring of high – risk customers, transactions and business relationships.
– Work closely with the MLRO/FIU interface and relevant control functions where applicable.
– Strengthen controls relating to fraud, sanctions, suspicious transactions and financial crime risks.
8. Compliance Culture:
– Build a strong “Compliance as a Culture” framework across the organisation.
– Develop and implement compliance training and awareness programmes.
– Ensure regulatory changes are effectively communicated to relevant stakeholders.
– Promote accountability for compliance across business and support functions.
9. Compliance Technology & MIS:
– Drive automation and digitisation of compliance monitoring and regulatory reporting.
– Establish an enterprise – wide regulatory obligations inventory and compliance tracking mechanism.
– Develop dashboards for senior management and Board reporting.
– Leverage data analytics to identify emerging compliance risks and control weaknesses.
10. Independent Oversight:
– Maintain complete independence from business functions and avoid conflicts of interest.
– Have unrestricted access to relevant records, systems, employees and information necessary to discharge the role.
– Escalate material compliance concerns directly to the MD & CEO and Board/Board Committee.
– Work closely with Internal Audit, Risk, Legal, Vigilance, Information Security and other control functions while maintaining the independence of Compliance.
Candidate Profile:
Education:
– Graduate/Postgraduate degree in Finance, Law, Commerce, Economics or a related discipline.
– CA / CS / LLB / MBA or equivalent professional qualification preferred.
Experience:
– 18 – 25+ years of overall experience, preferably in banking, NBFCs or financial services.
– Significant experience in regulatory compliance, risk, audit, legal/regulatory affairs or financial – services governance.
– Strong experience in dealing directly with RBI and senior regulatory stakeholders.
– Experience in a large NBFC, bank or other highly regulated financial institution is strongly preferred.
– Experience leading an enterprise – level Compliance Function with a sizeable team.
Desired Competencies:
– Deep understanding of RBI/NBFC regulatory framework.
– Strong knowledge of corporate governance and compliance risk management.
– Excellent regulatory interpretation and advisory capability.
– Strong understanding of lending, digital finance, securitisation/co – lending and financial – services products.
– High degree of independence, integrity and professional judgement.
– Excellent communication and Board – level presentation skills.
– Ability to challenge business decisions constructively while enabling responsible growth.
– Strong leadership and stakeholder – management capability.
To apply for this job please visit www.iimjobs.com.
Applying? Get your resume ready first: build or download your TCI resume.
