Job Description

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Business Descriptor:

This is the role of Compliance Officer of HSBC Asset Management (India) Private Limited’s (AMIN) proposed GIFT subsidiary (“GIFT FME”) and the role requires at least about 15 years of experience in asset management compliances and very good understanding of the risk and regulatory framework applicable to asset management businesses in India and GIFT city (including SEBI Regulations and International Financial Services Centres Authority (“IFSCA”) Regulations and other relevant applicable regulations) and financial crime requirements.

Please note that this role will be based out of GIFT City ( initially for few weeks the person may be required to be based out of Mumbai) and the appointment of selected candidate may be subject to necessary filing and confirmation from IFSCA regarding the candidate’s eligibility.

The following are certain high level job descriptions of this profile: -

1. This role is a key risk and compliance risk management role that has a broad remit and responsibilities for leading implementation and management of all aspects of risk, compliance, including impact analysis of regulatory changes and driving coordination and execution of the various risk and compliance work streams for the GIFT FME, while ensuring alignment with HSBC framework.
2. The role requires strong partnership with the entity’s business team, interfaces with both risk and general Compliance and has responsibility for driving the implementation of policies relevant to asset management. The role will monitor and track the progress of various work streams and initiatives underway which fall under the umbrella of risk and compliance, provide policy/regulatory advice to address the risks associated with the business.
3. The role will also need to stay at the forefront of the regulatory changes to ensure proactive communication with business and develop appropriate policy and framework to manage the changes in the entity.
4. Identification of compliance risks and potential impacts on the business and provide guidance to business on compliance advisory requirements;
5. Establishing and implementing Group standards and policies to ensure business’s exposure to current risks and emerging risk is managed appropriately.
6. Monitoring of regulatory compliance areas pertaining to market abuse controls, investment restrictions, marketing material reviews, including website content & investor communication;
7. Timely and efficient submission of various compliance reporting to the Group and regulatory submissions. This also includes providing timely and relevant risk information to senior management and governance forums;
8. Dealing with various alerts generated related to sanctions, AML and suspicious transaction monitoring as per the business processes and timely escalation of positive alerts
9. Liaison with relevant stakeholders, including Regulators and industry bodies, on all compliance related matters, including regulatory audits/inspections;
10. Act as the Compliance Officer/ Principal Officer under PMLA {Prevention of Money Laundering Act (India)} of the entity and discharge regulatory obligations by identifying and containing compliance risks by monitoring, escalation, reporting, certification, etc and fostering a compliance culture within the entity.

Qualifications and Experience Requirements

The applicant shall meet the following educational qualification and experience requirements:

1. A professional qualification or post-graduate degree or post graduate diploma (minimum one year in duration) in finance, law, accountancy, business management, commerce, economics, capital market, banking, insurance or actuarial science from a university or an institution recognised by the Central Government or any State Government or a recognised foreign university or institution or association or a CFA or a FRM from Global Association of Risk Professionals or any other relevant educational qualifications as may be specified by the Authority.
2. In addition to the qualifications mentioned under clause (a), experience of at least five (5) years in related activities in the securities market or financial products in an eligible institution. The experience requirement shall be for a minimum period of 3 (three) years, if the candidate possesses a professional qualification. In case of a candidate with post-qualification experience of at least 2 (two) years in an eligible institution in IFSC, India or any foreign jurisdiction and who holds valid certification(s), as specified by IFSCA, shall be considered eligible for the role.

For the above purposes, “eligible institution” shall include the following -

1. Market Infrastructure Institutions, Capital Market Intermediaries, financial sector regulators, FMEs, Banks, Finance Companies, Insurance Companies, and Insurance Intermediaries in IFSC, and equivalent institutions in India or any foreign jurisdiction;
2. consulting firms / advisory firms / firms of Chartered Accountants / Company Secretaries / Cost Accountants in IFSC, India or any foreign jurisdiction, providing services to the institutions mentioned above in (i), in relation to a financial product; and
3. a company, whether private or public, if the experience is in relation to finance/ accounts/ secretarial/ law departments of such company.

For the above purposes, the professional qualification shall include membership of Institute of Chartered Accountants of India, Institute of Company Secretaries of India, Institute of Cost Accountants of India or any institution equivalent thereto in a foreign jurisdiction, and shall also include Bachelor of Laws (LLB) from a university or an institution recognised by the Central Government or any State Government or a recognised foreign university or institution or association.

3. The selected applicant shall undergo such certification courses from such institutions, as may be specified by IFSCA. Currently, for Compliance Officer IFSCA has notified “Regulatory Framework for Fund Management in IFSC: AIFs (Alternative Investment Funds) and Retail Schemes" offered by The Institute of Company Secretaries of India for this purpose. Further, the selected applicant shall also undergo for the Principal Officer role, ”NISM-IFSCA-01: Certification Course on Anti-Money Laundering and Counter-Terrorist Financing in the IFSC” offered by the NISM.

Note:

As an employee, you are required to perform your duties in a professional capacity exercising independent judgement, discretion and decision-making authority in planning, organising, directing work, supervising and appraising the work of team members, as applicable; and taking accountability for delivery outcomes. You will represent the organization with relevant internal and external stakeholders. You will allocate and prioritize work, provide direction and feedback, manage team capacity and leave in line with policy as applicable.

• Pro-tip : Familiarity with AI-enabled tools is an advantage.

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Issued by HSBC Global Asset Management India Private Limited