Sr Manager / AVP- Mutual Fund Compliance and Risk (Investment limit monitoring), Mumbai

Job Description:

POSITION: Senior Manager or AVP (depending on experience and qualification)
Reports to (Position): Director and Head - Compliance)
Business Unit: Compliance
Location: Mumbai
Position Purpose: Core Responsibility

• Investment limit monitoring, coding of rules, checking the settings in trading application for various investment restrictions, clearing of alerts, comprehensive repository of limits applicable to schemes, providing reports related to limit monitoring activity, closely working with Chief Risk Officer and Investment Risk Professional on aspects related to investment limits / breaches, continuous review of controls around limit monitoring function, liase with the Investment Ops team for activities having impact on limit monitoring, providing guidance to investment team & other function on various aspects of limit monitoring & regulatory implications. (Currently AMC uses Bloomberg trading application).
• Review / draft manuals / policies around investment function i.e. Equity / Fixed Income Manual, Trade Allocation, Stress Testing, Polling Policy, IST, Best execution, voice recording, dealing room controls etc
• Putting in place systems for monitoring of trading activities viz. best execution, price variance, volume participation, etc. Support / Manage Other Compliance Activities
• Compliance matters viz. offer documents / KIM, scheme launch, listing of schemes, vetting of marketing materials, review of HY financials and portfolios, Trustee report to unit holders, Manuals and  policies implementation & updation, issue of notices and addendums pursuant to changes in scheme features, appointment of directors / key persons, merger / winding up of schemes / changes in fundamental attributes, responses to due diligences preparing comprehensive checklist for various regulatory activities.
• Regulatory reporting to SEBI / AMFI (e.g. MCR, NSR, CTR, HYTR & other reports as may be specified by SEBI from time to time.), Reporting to AMC & Trustee Boards, senior (global) leadership.
• Regulatory change management i.e. keeping track of regulatory changes, analysis of circulars / notifications, impact analysis & tracking of implementations at IAMI, tracking orders issued by SEBI, SAT & Courts, informal guidance, & preparing impact / action points for IAMI.
• Providing guidance to internal / external stakeholders on various regulatory and compliance matters.
• Liase with Internal & Statutory Auditors for data requirements, responding to observations, queries as a first level contact, support in managing regulatory inspections.
• AML Framework i.e. policies around PMLA, KYC, STR, processes around client due diligence, analysis of alerts, training of employees on AML matters, tracking regulatory / industry developments around AML matters & implementing the same at IAMI, liasioning with IVZ global AML team, Running STR Committee meetings, minutes, paperwork, whitelisting of investors, review of processes for checking of watchlist, UNSCR / MHA List etc.
• Liasioning with compliance teams of entities in other location for data / knowledge sharing, global trends in compliance matters, reports to be submitted to globally.
• Suggesting measures for process improvements, automation, review & strengthening of
• controls framework, act as a change agent.

Other compliance matters as may be delegated from time to time.

Principal Accountabilities:

• All the activities / aspects related to Investment Limit Monitoring.
• Regulatory compliances / reporting for MFs
• regulatory change management
• process improvements & automation.

Knowledge, Skills,Competencies

• Qualifications: Preference is for CA. However, candidates with MBA / CS / Masters in
• Law qualification with relevant industry experience may also apply. Additional
• qualification like FRM will be useful.

Knowledge:

• Looking for candidate who has managed investment limit monitoring function at MF/insurance company or at back-office centre of global asset managers. Knowledge of MF Regulations with special emphasis on investment limits, understanding of various types of instruments, market practices / settlement cycles. Further the candidate should have excellent skills in MS excel.
• Competencies: Execution skills, analytical bend of mind, good communication skills, ability to decode the regulations, solution oriented.
• Attributes: Commitment & passion for work, eagerness to learn, teamwork, ability to stretch & sustain work pressures, good inter-personal skills, Team player

Preferred Industry Experience

• Minimum 10-15 years’ experience in capital / securities market / limit monitoring function (candidates with 6-8 years of AMC background and having experience with Bloomberg Order Management System will have an edge)