Compliance Officer

Job Title: COMPLIANCE OFFICER (CO)

Experience: 3-8 Years

Location: Gandhinagar

Job Summary

We are looking for a Compliance Officer (CO) responsible for ensuring that the organization complies with all applicable regulatory, legal, AML/KYC, and IFSCA requirements.

The Compliance Officer will work independently, report directly to the Board of Directors, monitor regulatory obligations, oversee compliance filings, support AML/KYC processes, manage investor grievances, and ensure timely closure of compliance requirements.

Key Responsibilities

1. Overall Compliance

• Ensure compliance with all applicable regulatory and legal requirements.
• Report directly and independently to the Board of Directors.
• Immediately flag any regulatory non-compliance to the Board.
• Monitor compliance with applicable IFSCA circulars, guidelines, and master circulars.
• Maintain records of compliance activities, internal audits, and regulatory correspondence.

2. Regulatory Filings & Compliance Calendar

• Oversee preparation and submission of the Annual Compliance Audit Report to IFSCA by 30 September.
• Respond to IFSCA inspection queries and information requests within prescribed timelines.
• Maintain a detailed compliance calendar and ensure zero missed regulatory deadlines.
• Track regulatory updates and ensure timely implementation of applicable requirements.

3. AML & KYC Compliance

Ensure all client onboarding and KYC documentation is complete and properly maintained, including:

RequirementKey ChecksKYCCustomer identity, address, PAN, Aadhaar/Passport/Driving Licence, photograph, mobile & emailCKYCCKYC registration and CKYC Identifier (KIN)FATCAU.S. person status, tax residency and TIN, where applicableCRSForeign tax residency and TIN detailsUBOIdentification of Ultimate Beneficial Owners for non-individual clientsEntity DocumentsCOI, MOA/AOA, Partnership Deed, Trust Deed, Board Resolution, etc.Sanctions ScreeningScreening against UNSC, UAPA and internal watchlistsRisk CategorisationClassification into Low / Medium / High RiskAML/CFT ReviewSource of Funds, Source of Wealth and business activityRecord KeepingProper maintenance of physical/electronic records as prescribed

Important: No client account should be activated without complete KYC documentation.

4. Periodic KYC Re-verification

Oversee periodic KYC re-verification as per applicable timelines:

• High Risk: Every 2 years
• Medium Risk: Every 8 years
• Low Risk: Every 10 years for resident Indian customers with a Financial Group relationship.
• Where the group entity's risk classification differs from the entity's own classification, the stricter/more frequent cycle should be followed.

Ensure risk categorisation records remain confidential and do not appear on client-facing documents.

5. Enhanced Due Diligence (EDD)

• Ensure Enhanced Due Diligence (EDD) is triggered and documented wherever applicable.
• Where the UBO of a customer/entity is an Indian national, ensure:
• Source of Funds (SOF) is ascertained.
• EDD is applied and properly documented.
• The requirement is followed irrespective of the customer's risk rating.

6. NPO & AML Reporting

• Ensure NPO clients are registered on the DARPAN Portal of NITI Aayog.
• Retain relevant registration records for the prescribed period after account closure.
• Coordinate with the AML Principal Officer (PO) for STR/CTR filings with FIU-IND.
• Maintain AML/KYC registers, customer risk registers, and sanctions screening records.

7. Investor Grievance Management

• Act as the primary point of contact for investor grievances.
• Maintain an updated grievance register.
• Escalate unresolved complaints to the Board and IFSCA, wherever required.
• Ensure investor communication is fair, transparent, accurate, and not misleading.
• Ensure periodic statements of account are sent to clients within IFSCA-prescribed timelines.
• In demat operations, ensure separate accounts are maintained for each beneficial owner and client securities are not mixed.

8. Compliance Audit & Internal Reviews

• Commission or conduct the Annual Compliance Audit.
• Present audit findings and corrective actions to the Board.
• Conduct periodic internal reviews covering:
• KYC
• AML
• Client onboarding
• Trade documentation
• Regulatory compliance
• Track corrective actions and ensure timely closure of audit observations.

9. Certification & Regulatory Requirements

• Ensure employees working in regulated roles hold valid NISM or IFSCA-equivalent certifications, wherever applicable.
• Keep track of certification validity and renewal requirements.

Key Skills

• IFSCA Regulatory Compliance
• AML/KYC Compliance
• Regulatory Filings
• Compliance Audits
• Investor Grievance Management
• Risk Categorisation
• Sanctions Screening
• FATCA & CRS
• UBO & Enhanced Due Diligence
• FIU-IND Reporting
• Regulatory Documentation
• Strong Analytical & Communication Skills
• Attention to Detail