Description:

Job Description: VP Compliance (Leading Housing Finance NBFCHFC), India

Position Title: VP Compliance

Department: Compliance & Regulatory Affairs

Location: Chennai

Reports To: CEO / Managing Director / Board / Audit & Compliance Committee

Role Summary

The HeadCompliance ensures that the Housing Finance NBFC (HFC) adheres to all applicable RBI regulations, NHB legacy guidelines (where still relevant), PMLA, consumer protection norms, and housing-financespecific operational controls. The role drives a compliance culture across the organisation, covering customer onboarding, property verification, loan origination, collections, securitisation, and affordable-housing mandates.

Key Responsibilities

1. Regulatory Compliance RBI (and NHB legacy) Requirements

- Ensure adherence to the RBI Master Direction HFCs, circulars, and guidelines applicable to Housing Finance Companies.

- Ensure compliance with Loan-to-Value (LTV) norms, Exposure Norms, Liquidity Risk Framework, Stress Testing, and ALM guidelines for HFCs.

- Monitor regulatory updates and ensure timely internal implementation.

Maintain accurate and timely filing of:

- HFC regulatory returns (RBI COSMOS filings)

- FIU-IND AML reporting

- CKYC uploads

- Securitisation reporting (if applicable)

2. Policy Development & Control Framework

Develop, review, and implement housing-financespecific compliance policies such as:

- Fair Practices Code (specific to housing finance)

- Loan Origination & Documentation Policy

- Property Valuation & Technical Verification Policy

- KYC/AML/CFT Policy

- Outsourcing Policy (DSA/DMA, technical agencies, collection partners)

- Data Privacy & Information Security Policy

- Recovery & Collection Policy (aligned with RBI conduct guidelines)

- Grievance Redressal Mechanism

- Securitisation/Direct Assignment Policy (if applicable)

3. Compliance Monitoring Housing Finance Operations

- Monitor compliance across:

o Customer onboarding

o Income assessment for salaried/self-employed customers

o Property legal & technical due diligence

o Disbursement controls

o Pre- and post-disbursement documentation

o Insurance compliance (property & life insurance)

- Ensure adherence to guidelines for affordable housing loans, EWS/LIG schemes, PMAY (if relevant).

- Verify compliance for co-lending arrangements with banks/financial institutions.

4. AML, KYC & Fraud Prevention

- Oversee full compliance with PMLA, KYC Master Directions, and AML monitoring.

- Ensure suspicious transaction detection, STR/SAR filings, and customer risk categorisation.

- Implement fraud risk controls around property papers, valuation, and identity verification.

5. Regulatory Reporting & Inspections

- Manage RBI inspections specific to HFCs and housing-loan processes.

- Respond to regulatory queries and ensure closure of compliance gaps.

- Coordinate with statutory auditors for compliance certifications.

6. Customer Protection & Conduct Regulations

- Implement consumer protection regulations across the customer lifecycle.

Ensure transparency in:

- Key Fact Statement (KFS)

- Schedule of Charges

- Loan agreements and disclosure norms

- Disbursement conditions

- Ensure compliance with fair lending practices, recovery guidelines, and digital lending norms (if digital channels are used).

7. Training, Awareness & Culture Building

- Conduct training programs on housing-finance compliance, KYC/AML, product guidelines, fraud prevention, and conduct risk.

- Promote compliance accountability within sales, credit, legal, operations, and collections teams.

8. Cross-Functional Compliance Leadership

Partner with Product, Credit, Legal, Risk, Treasury, and Operations teams to identify compliance implications for:

- New loan products

- Geographic expansion

- Digital lending initiatives

- Co-lending and securitisation

- Advise management on compliance risk for strategic decisions.

Qualifications & Experience

- Graduate/Postgraduate in Finance, Commerce, Law, or related field.

- 15 + years of compliance experience, preferably with Housing Finance Companies (HFCs), NBFCs, or Banks.

- Strong knowledge of RBI HFC Master Directions, PMLA, AML/KYC norms, and housing-loan operations.

- Experience handling RBI inspections, audits, and regulatory reporting.

- Certifications such as CAMS, CCO or AML/KYC preferred.

Key Skills

- Strong understanding of housing finance regulatory framework.

- Solid understanding of property verification processes (legal & technical).

- Analytical judgment and risk-based decision-making.

- Strong communication & stakeholder management.

- Ability to drive implementation of compliance requirements in field and branch operations.

KPIs / Success Metrics

- Timely and accurate regulatory filings.

- Zero major regulatory breaches or penalties.

- Smooth RBI inspections with minimal observations.

- Improved compliance hygiene across branches and operations.

- Strong adoption of compliance policies and training completion rates.