Job Description: Compliance Officer
Department: Compliance
Location: Bangalore
Experience: 35 Years (In Stock Broking entity)
Qualification: Graduate / Postgraduate in Law, Finance, Commerce, or related field
About the Role
The incumbent will be responsible for ensuring that the organization's activities are conducted in strict adherence to SEBI regulations, Stock Exchange guidelines, and applicable laws. This role requires hands-on experience in securities market compliance and the ability to independently manage regulatory obligations.
Key Responsibilities
Regulatory Compliance & Reporting
- Ensure timely filing of all periodic compliance reports with NSE, BSE, MCX, and other exchanges including half-yearly internal audit reports, net worth certificates, and annual compliance certificates.
- Maintain and update records on the SEBI Intermediary (SI) Portal and exchange back-office systems.
- Track regulatory developments SEBI circulars, exchange notices, and PMLA guidelines and implement necessary changes in internal policies and procedures.
- Coordinate submission of Suspicious Transaction Reports (STRs) and Cash Transaction Reports (CTRs) to FIU-IND under PMLA.
KYC, AML & Client Onboarding
- Oversee client onboarding processes ensuring compliance with KYC norms, PMLA/AML guidelines, and UCC (Unique Client Code) creation/updating requirements on KRA, CDSL, and NSDL systems.
- Conduct periodic reviews of client KYC data and ensure timely re-KYC for existing clients.
- Monitor and strengthen AML/CFT controls including customer due diligence (CDD) and enhanced due diligence (EDD) for high-risk clients.
Trading & Market Compliance
- Monitor trading activities for potential market manipulation, front-running, wash trades, or other violations as flagged by exchange surveillance systems.
- Ensure compliance with SEBI's margin framework including peak margin reporting, collection, and pledging norms.
- Oversee algorithmic trading compliance if applicable, including exchange approvals for algos and periodic audits of algo systems.
- Ensure adherence to insider trading restrictions, including monitoring of employees personal dealing accounts.
Investor Grievance Redressal
- Manage investor complaints on the SCORES (SEBI Complaints Redress System) portal within prescribed timelines.
- Liaise with relevant internal teams to ensure prompt and satisfactory resolution of investor grievances.
- Maintain a complaint register and submit periodic grievance redressal reports to the Board and exchanges.
Internal Audit & Controls
- Coordinate with internal and concurrent auditors for half-yearly system audits as mandated by SEBI/exchanges.
- Review audit observations, prepare responses, and ensure timely closure of audit findings.
- Conduct periodic compliance testing of internal processes and escalate gaps to senior management.
Cybersecurity & Technology Compliance
- Ensure implementation of and adherence to SEBI's Cybersecurity and Cyber Resilience Framework for Stock Brokers.
- Coordinate annual cybersecurity audits and ensure timely submission of audit reports to exchanges.
- Monitor business continuity planning (BCP) and disaster recovery (DR) requirements from a compliance perspective.
Training & Awareness
- Conduct periodic compliance and AML/CFT training sessions for front office, operations, and sales staff.
- Prepare and circulate internal compliance advisories, policy updates, and regulatory alerts.
Documentation & Policy Management
- Maintain and periodically review compliance manuals, SOPs, and internal policies to reflect current regulatory requirements.
- Ensure proper documentation and record-keeping for all compliance activities as per statutory retention requirements.
Required Qualifications & Certifications
- Graduate / Postgraduate in Law, Finance, Commerce, or a related discipline.
- Mandatory NISM Certifications:
- NISM-Series-III-A: Securities Intermediaries Compliance (Non-Fund)
- NISM-Series-VII: Securities Operations and Risk Management
- Additional certifications (NISM-VIII, NISM-I) preferred based on segments handled.
- Valid certifications must be maintained throughout the tenure of employment.
Requirements
Required Experience & Skills
- 35 years of hands-on compliance experience in a SEBI-registered Stock Broker, Clearing Member, or related securities market intermediary.
- Strong working knowledge of:
- SEBI (Stock Brokers) Regulations, 1992
- SEBI Master Circular for Stock Brokers
- NSE/BSE/MCX compliance requirements and back-office systems
- PMLA, 2002 and AML/CFT guidelines
- SEBI Insider Trading Regulations (PIT Regulations, 2015)
- Margin framework (peak margin, pledging norms)
- Proficiency in working with exchange portals (NSE Extranet, BSE Listing/Exchange Portal), SCORES, SI Portal, and KRA/KYC systems.
- Strong drafting skills for regulatory communications, Board notes, and internal policies.
- Ability to independently manage multiple regulatory deadlines.
Key Attributes
- High integrity and professional ethics
- Strong analytical and problem-solving ability
- Excellent written and verbal communication skills
- Proactive approach to identifying and mitigating compliance risks
- Ability to work under pressure and manage tight regulatory timelines
- Team player with the ability to collaborate across functions
