Compliance Manager Lending Business

Job Description: Compliance Manager (Lending Business)

Job Overview:

The Compliance Manager in a lending business in India is responsible for overseeing and ensuring that the companys lending activities comply with all applicable Indian laws regulations and internal policies. This role involves implementing and managing compliance programs conducting risk assessments ensuring adherence to financial regulations and liaising with regulatory bodies such as the Reserve Bank of India (RBI) and other relevant authorities. The Compliance Manager ensures that the organization adheres to legal standards while mitigating regulatory risks in the lending business.

Key Responsibilities:

Regulatory Compliance Monitoring:

• Regulatory Adherence: Ensure that the organizations lending practices comply with all applicable Indian regulations including guidelines issued by the Reserve Bank of India (RBI) Fair Practices Code Prevention of Money Laundering Act (PMLA) KFS and Consumer Protection Act.
• Regulatory Updates: Stay updated with changes in regulations affecting the lending business in India including any updates from RBI or other regulatory bodies and ensure timely implementation of necessary adjustments in the companys processes.

Policy Development & Implementation:

• Internal Policies: Develop implement and continuously update internal compliance policies and procedures in line with legal requirements and best practices. This includes ensuring the company adheres to the RBIs Fair Practices Code internal lending policies and other regulatory guidelines.
• Policy Training: Conduct training sessions for staff on internal policies compliance obligations and new regulatory developments to ensure proper understanding and adherence.

Risk Management:

• Risk Identification: Identify potential compliance risks within the lending operations including loan origination disbursement recovery and collections. Conduct risk assessments and propose strategies to mitigate these risks.
• Internal Audits: Oversee and conduct regular internal audits of lending activities ensuring that compliance is maintained across all stages of the loan lifecycle from application to recovery.

Regulatory Reporting & Filing:

• Timely Reporting: Ensure compliance with mandatory regulatory reporting requirements. This includes filing periodic reports with RBI SEBI and other authorities such as NPA (NonPerforming Assets) reporting Annual Compliance Reports KYC (Know Your Customer) guidelines and AML (AntiMoney Laundering) obligations.
• Statutory Filings: Ensure timely submission of all statutory filings to RBI and other relevant regulators and maintain all required records in accordance with regulatory norms.

Compliance Investigations & Issue Resolution:

• Compliance Monitoring: Conduct regular reviews to identify instances of noncompliance and provide guidance on corrective actions. Investigate any alleged violations of company policies or regulatory requirements including fraud money laundering or violation of KYC norms.
• Remedial Actions: Implement corrective actions in response to compliance issues or breaches collaborating with legal and management teams as necessary to resolve complex issues.

ThirdParty Vendor Compliance:

• Vendor Oversight: Ensure thirdparty service providers such as credit bureaus loan servicing companies and collection agencies comply with all applicable regulations and internal compliance requirements. Conduct periodic assessments and reviews of thirdparty vendors.

Compliance Reporting & Advisory:

• Management Reporting: Prepare regular reports for senior management detailing the status of compliance key risk areas regulatory changes and corrective actions taken. Provide advisory on compliancerelated matters to senior leadership and stakeholders.
• Regulatory Liaison: Serve as the primary point of contact for regulatory authorities addressing any inquiries or issues raised by regulators such as RBI or other government bodies.

Qualifications:

Education:

A Bachelors degree in law finance business administration or a related field is required. A Masters degree or professional certification in compliance (e.g. Certified Regulatory Compliance Manager (CRCM) Certified Compliance and Ethics Professional (CCEP) is a plus.

Experience:

• Minimum of 5 years of experience in compliance or risk management preferably in the financial services banking or lending industry in India.
• Indepth knowledge of Indian regulatory frameworks including RBI regulations PMLA Fair Practices Code and consumer protection laws.
• Familiarity with compliance and regulatory reporting systems used in the financial sector in India.

Skills & Abilities:

• Strong knowledge of Indian financial regulations especially in the lending space (personal loans home loans MSME loans etc..
• Ability to analyze complex regulations and translate them into actionable internal policies.
• Excellent verbal and written communication skills for interacting with regulatory authorities senior management and other stakeholders.
• Strong problemsolving skills and the ability to manage multiple compliance issues simultaneously.
• Proficiency in compliance software regulatory reporting tools and Microsoft Office.
• Ability to lead train and collaborate with various teams within the organization.

Certifications (Preferred):

• Certified Regulatory Compliance Manager (CRCM)
• Certified Compliance and Ethics Professional (CCEP)
• Other relevant certifications in Indian financial regulations or lending business practices.