Head Chit Fund Operations & Compliance

Head – Chit Fund Operations & Compliance

Company: Ceiver Tech LLP

Location: Bangalore

Department: Chit Fund Business

Industry: Financial Services

Experience: 5–10 Years

Employment Type: Full-time

About Ceiver

Ceiver is building a diversified business group across technology, financial services, precious metals, real estate and hospitality. As part of our expansion, we are establishing a dedicated Chit Fund Business in Karnataka.

We are looking for an experienced professional who can take ownership of building the chit-fund vertical from the ground up, including regulatory readiness, scheme operations, compliance, process development and launch.

Role Overview

As the Head – Chit Fund Operations & Compliance, you will be the founding member of Ceiver's Chit Fund vertical.

You will work closely with the management to establish the operating framework, coordinate regulatory requirements, design and operationalize chit schemes, build processes and controls, and prepare the business for its first subscriber base.

This is a build-and-lead role, not simply an administration position.

Key Responsibilities

Regulatory & Compliance

- Manage the regulatory and compliance framework applicable to chit-fund operations in Karnataka.

- Coordinate with the Registrar of Chits / relevant government authorities.

- Support applications, registrations, approvals and commencement requirements.

- Ensure chit agreements, records, registers and statutory filings are maintained correctly.

- Keep the business updated on applicable regulatory requirements and changes.

- Establish internal compliance controls and audit processes.

Chit Fund Operations

- Design and operationalize chit schemes in accordance with applicable laws.

- Develop processes for subscriber onboarding, KYC, documentation and collections.

- Manage chit auctions, bidding, prize-money disbursement and dividend processes.

- Establish procedures for defaults, delayed payments, foreclosures and recoveries.

- Maintain accurate subscriber and scheme-level records.

- Coordinate with finance and accounts teams for reconciliation and reporting.

Business Setup

- Build the complete SOP framework for the Chit Fund business.

- Establish operational workflows from lead subscriber onboarding monthly collection auction payout completion.

- Identify technology requirements for managing subscribers, collections, auctions and compliance.

- Work with management to establish KPIs and operational dashboards.

- Build the initial team and define roles as the business scales.

Team Leadership

- Recruit and train Chit Fund Relationship Managers, Collection Executives and Operations/Accounts staff.

- Establish performance metrics and operating standards.

- Build a strong compliance-first culture across the team.

Business Development Support

- Work with the management and sales team to structure commercially viable chit schemes.

- Support sales teams with scheme knowledge, documentation and compliance guidance.

- Help develop the initial subscriber acquisition strategy.

- Ensure sales practices remain compliant with applicable regulations.

Ideal Candidate

We are looking for someone who has hands-on experience in chit-fund operations, preferably with an established chit-fund organization.

The ideal candidate should have experience in:

- Chit fund operations

- Registrar of Chits compliance

- Chit agreements and statutory documentation

- Chit auctions and bidding

- Subscriber onboarding and KYC

- Collections and recovery

- Prize-money disbursement

- Chit accounting and reconciliation

- Regulatory filings and audits

- Team management

Experience with established chit-fund organizations such as Shriram Chits, Margadarsi or similar organizations will be an advantage.

Qualifications

- Bachelor's degree in Finance, Commerce, Business Administration, Banking or a related discipline.

- 5–10 years of relevant experience in chit funds, financial services or regulated financial operations.

- Strong knowledge of chit-fund operations and Karnataka regulatory requirements.

- Strong communication, documentation and stakeholder-management skills.

- Ability to independently build processes and manage a new business vertical.

What We Offer

- Opportunity to become the founding team member of Ceiver's Chit Fund vertical.

- Direct exposure to the founders and senior management.

- Opportunity to build the business, processes and team from the ground up.

- Leadership growth as the chit-fund business scales across Karnataka.

- Competitive compensation with performance-linked growth.

Key Success Metric

Your primary objective in the first phase will be to take the business from:

Concept Regulatory Readiness Operational Setup First Chit Scheme First Subscriber Base

If you are an experienced chit-fund professional who wants to build and lead a new business rather than simply operate an existing branch, this role is for you.

Apply to build Ceiver's Chit Fund Business from the ground up.