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Senior Associate - Compliance

Northern Arc

Northern Arc

Chennai, Tamil Nadu, India
Posted on Monday, November 20, 2023

Company Description

Northern Arc Capital Limited is a financial services platform in India that operates with the mission to enable access to finance for the underbanked in an efficient, scalable and reliable manner. It has a diverse business model across offerings, sectors, products, geographies, and borrower segments. Northern Arc is backed by marquee investors like LeapFrog, IIFL, Accion, Augusta Investments, Dvara Trust, Eight Roads, and Sumitomo Mitsui Banking Corporation.

Role Description

This is a full-time on-site role located in Chennai for a Senior Associate - Compliance. The Senior Associate - Compliance will be reporting to the Chief Compliance Officer.

·      To be responsible for compliance relating to the following:

(i)     RBI regulations applicable for NBFCs

(ii)    SEBI regulations applicable for stock brokers

(iii)   IRDAI regulations applicable for corporate agent


·      Be a critical connect between the regulatory/statutory bodies and the regulated entities. The role entails building a compliance culture encompassing awareness, execution of business strategies in line with compliance stipulations, pro-active advice on new product/processes and escalations on actual/potential non-compliance

Key Accountabilities

· Play a central role in the area of identifying the level of compliance risk in each business line, products and processes and issue instructions to operational functionaries / formulate proposals for mitigation of such compliance risk (i.e., risk of violating external and internal requirements) by ensuring that each line management develops and implements an effective system of internal control in order to manage the compliance risks.

· Incorporate a robust mechanism to ensure that (i) regulatory guidelines / instructions are promptly issued / disseminated within the organization. (ii) monitor compliance with the regulatory guidelines/ instructions (iii) highlight the instances of compliance failures

· Serve as a reference point for the teams from other departments for seeking clarifications/ interpretations of various regulatory and statutory guidelines

· Work in close co-ordination and partnership with other verticals to ensure businesses operate under the requisite stipulations advised by regulators/statutory bodies

· Identify compliance risks, risk drivers, develop and facilitate implementation of internal controls, monitor, test and report the effectiveness of internal controls periodically, provide functions having external interface with advice on acceptable behaviour and practices, monitor changes in external and internal requirements, employee trainings based on regulatory/statutory requirements

· Fulfil specific statutory responsibilities (e.g., calendarizing and ensuring filing of returns, adherence to policies, processes and procedures.)

·  Liaison for various inspections by regulator(s) and closure of observations made

·  Co-ordinate for comprehensive review and reporting on compliance issues and actions at yearly/quarterly/monthly basis as may be decided by the Board/ACB/CEO

Minimum Qualification:

·   LLB/ CS / CA


Minimum Experience:

·   At least 3 to 5 years of inhouse experience in a compliance function of a NBFC/stock broking firm/corporate agent

·   Experience in handling regulatory inspections, internal and statutory audits.

Skills required:

·    Process improvement

·    Compliance controls

·    Good presentation skills

·    Highly motivated and ambitious personality with the ability to work in a flat organization and actively collaborating with other teams