Manager/Senior Manager - Compliance

About Progcap:

Progcap is a fintech company focused on enabling access to working capital for underserved small and medium businesses across India. Through its technology-driven platform, Progcap partners with financial institutions to provide seamless supply chain financing, helping retailers and distributors improve cash flow and grow their businesses.

Website: https://www.progcap.com/

Location: South Delhi

Role Overview:

The Manager / Senior Manager - Compliance will be responsible for ensuring adherence to regulatory requirements applicable to NBFC-Middle Layer entities, with a strong focus on compliance testing, regulatory reporting, implementation of compliance tools, and handling regulatory inspections. The role requires deep understanding of RBI guidelines, internal policies, and risk-based compliance frameworks.

Key Responsibilities

1. Compliance Monitoring & Testing

- Design and execute risk-based compliance testing programs across business functions.

- Conduct periodic compliance reviews and sample-based testing to assess adherence to regulatory and internal policies.

- Identify compliance gaps, control weaknesses, and recommend corrective actions.

- Prepare detailed compliance testing reports and track closure of observations.

2. Regulatory Compliance (RBI & Other Authorities)

- Ensure adherence to all applicable RBI guidelines for NBFC-Middle Layer, including but not limited to:

- Scale-Based Regulation (SBR)

- Fair Practices Code

- KYC/AML guidelines

- Outsourcing guidelines

- IT & Cyber Security Framework

- Corporate Governance norms

- Monitor regulatory updates/circulars and assess their impact on business operations.

- Drive timely implementation of regulatory changes across departments.

3. Compliance Tool / System Implementation

- Manage and enhance Compliance Management Systems (CMS) or tools.

- Automate compliance tracking, alerts, and reporting through technology platforms.

- Maintain compliance dashboards, compliance calendars, and exception trackers.

- Work closely with IT teams/vendors for system upgrades and integrations.

4. Regulatory Reporting

- Ensure accurate and timely submission of returns, filings, and reports to RBI and other regulators.

- Validate data integrity and compliance with reporting formats and timelines.

- Maintain proper documentation and audit trails for all regulatory submissions.

5. Inspection & Audit Management

- Coordinate and manage RBI inspections, internal audits, and external audits.

- Prepare and present required data/documents during inspections.

- Track and ensure timely closure of inspection/audit observations.

- Develop and maintain inspection readiness frameworks.

6. Policy & Framework Development

- Draft, review, and update compliance policies, SOPs, and internal guidelines in line with regulatory requirements.

- Ensure policies are aligned with RBI norms and industry best practices.

- Conduct periodic policy reviews and approvals.

7. Stakeholder Management & Advisory

- Act as a compliance advisor to business and functional teams.

- Conduct training and awareness sessions on regulatory requirements.

- Collaborate with Risk, Legal, Audit, and Operations teams for holistic compliance management.

8. Risk Assessment

- Support enterprise-wide compliance risk assessments.

- Develop and maintain risk-control matrices (RCM).

- Implement risk-based monitoring frameworks.

Key Skills & Competencies:

- Strong knowledge of NBFC regulations and RBI guidelines.

- Hands-on experience in compliance testing and monitoring frameworks.

- Strong analytical and problem-solving skills.

- Excellent documentation and reporting skills.

- Ability to manage regulatory inspections independently.

- High attention to detail and strong ethical standards.

Qualifications:

- Company Secretary (CS) / MBA (Finance) / LLB or equivalent.

- Certifications in compliance, risk management, or AML (preferred).

Preferred Experience:

- 3-6 years of experience in NBFCs, Banks, or Financial Institutions.

- Prior exposure to RBI inspections, audits, and regulatory reporting.

- Experience in implementing compliance frameworks/tools.