Chief Compliance Officer

Description:

Title: Chief Compliance Officer (CCO)

The Chief Compliance Officer (CCO) is a critical Senior Management role.

The CCO will be responsible for ensuring that our organization complies with all external rules, regulations, and internal codes of conduct governing the Indian securities market.

This role demands a proactive leader with an in-depth understanding of SEBI regulations, exceptional analytical skills, and the authority to enforce a robust culture of compliance across all business functions.

Key Responsibilities:

1. Regulatory Compliance & Adherence:

- Ensure strict compliance with all applicable SEBI regulations, including but not limited to:

- SEBI (Stock Brokers) Regulations, 1992

- SEBI (Prohibition of Insider Trading) Regulations, 2015

- SEBI (Prevention of Fraudulent and Unfair Trade Practices) Regulations, 2003

- SEBI (KYC) Requirements & Anti-Money Laundering (AML) Standards

- SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011

- SEBI (Investment Advisers) Regulations, 2013 (if applicable)

- Stay abreast of new SEBI circulars, guidelines, and notifications, and implement necessary changes in policies and procedures.

Policy Framework & Implementation:

- Develop, implement, and review robust compliance policies, including the Code of Conduct for Prevention of Insider Trading, Code of Conduct for Ethics, AML Policy, and Privacy Policy.

- Design and implement a structured compliance monitoring program to test the effectiveness of internal controls.

Internal Controls & Risk Management:

- Conduct regular internal audits and risk assessments of all key business areas like trading, sales, research, and back-office operations.

- Monitor employee personal trading accounts as per the Insider Trading norms.

- Scrutinize trading activities to detect and prevent potential market abuse, front-running, or other fraudulent practices.

Liaison & Reporting:

- Act as the single point of contact for all communications with SEBI, Stock Exchanges (NSE, BSE), and Depositories (NSDL, CDSL).

- Ensure timely and accurate submission of all statutory returns, reports, and disclosures as required by the regulators.

- Prepare and present detailed compliance reports to the CEO and the Board of Directors/Compliance Committee on a quarterly basis, highlighting breaches, risks, and the overall health of the compliance program.

Qualifications & Experience:

Mandatory:

- A Bachelor's degree in Finance, Commerce, or Law.

- A Master's degree (MBA/Finance) or professional qualification (CA, CS, CFA, LLB) is highly preferred.

- A mandatory certification from the National Institute of Securities Markets (NISM) as per SEBI requirements (e.g., NISM-Series-III A: Securities Intermediaries Compliance (Non-Fund) Certification).

- Minimum of 7 to 10 years of relevant experience in the compliance function of a SEBI-registered stock broker, merchant banker, or a related intermediary in the Indian capital

markets.

- Proven track record of directly handling SEBI, Exchange, and Depository inspections and audits.

Important Notes for Hiring in India:

- Mandatory Certification: The NISM-Series-III A certification (or its relevant successor) is not just a preference; it is a regulatory requirement for a CCO in a stockbroking firm. Ensure the candidate has it or is willing to obtain it immediately upon hiring.

- SEBI's "Fit and Proper" Criteria: The candidate must meet SEBI's "Fit and Proper" criteria, which includes a clean disciplinary record.

- Reporting Line: SEBI guidelines emphasize the independence of the CCO. The reporting line to the Board/Compliance Committee is crucial and should be clearly established.

- Liability: The CCO role carries significant responsibility and potential personal liability under SEBI regulations, making it a high-stakes position.