Chief Compliance Officer - NBFC

- 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.