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.