Principal Officer

DESIGNATION: The Principal Officer – Legal & Compliance (India)

KEY RESPONSIBILITIES:

1. Lead Enterprise KYC/AML Policy Enforcement – Frame and implement KYC, CDD (Customer Due Diligence), Enhanced Due Diligence (EDD), and risk rating processes for onboarding and ongoing monitoring.

2. Conduct AML/CFT Training Programs – Periodically train staff across departments on AML, suspicious behaviour detection, regulatory updates, and internal policies to maintain enterprise compliance awareness. The Principal Officer (PO) should place a review/status of AML/CFT function before the Board/Sub- committee of Board preferably on a quarterly basis.

3. Risk-Based Client Classification – Apply risk scoring models for customer segmentation (low/medium/high risk) based on business activity, geography, transaction size, and past alerts.

4. Ensure Sanctions & Blacklist Screening – Supervise screening against PEPs (Politically Exposed Persons), UN/OFAC sanction lists, and adverse media checks, ensuring no onboarding of high-risk entities without proper controls.

5. FIU-IND Reporting & AML Compliance – Serve as The Principal Officer who will be the POC (Point Of Contact) for FIU-IND; oversee Suspicious Transaction Reports (STRs), Cash Transaction Reports (CTRs), and Anti-Money Laundering (AML) compliance in line with PMLA guidelines.

6. Resource and Access Management for AML/CFT – Ensure adequate staffing and expertise, along with unrestricted access to client identification and transaction records, to enable effective transaction monitoring and robust implementation of the AML/CFT program.

7. Manage STR/CTR Reporting – Review and validate Suspicious Transaction Reports (STRs) and Cash Transaction Reports (CTRs) before timely electronic submission to FIU-IND via FINnet gateway.

8. Develop & Implement AML/CFT Framework – Establish internal controls, SOPs, and escalation matrices for Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) procedures in line with RBI/SEBI/IRDA/FIU guidelines.

9. Coordinate Regulatory Inspections – Act as a nodal point for audits and inspections by FIU-IND, RBI, SEBI, IRDA, or external statutory bodies. Address findings and implement corrective action plans.

10. Monitor Transaction Patterns – Use analytics and automation (AI-enabled systems) to monitor large/unusual transactions, client behaviour patterns, and flag anomalies for STR initiation.

11. Vendor & Partner Due Diligence – Ensure third-party service providers, fintech partners, and consultants adhere to AML/KYC standards and sign compliance declarations.

12. Filing & Record Retention – Maintain audit-ready records of KYC documentation, transaction monitoring logs, STR/CTR filings, and internal investigation outcomes for a minimum of 5 years as per PMLA.

13. Liaise with Legal & Compliance Teams – Collaborate with internal legal counsel and compliance officers to ensure AML laws, IT Act, Data Privacy (DPDP/GDPR), and audit protocols are synchronized.

14. Assist in Regulatory Policy Drafting – Draft AML/CFT manuals, risk scoring methodologies, escalation protocols, and Board-level compliance reporting formats.

15. Ensure Cross-Border Compliance Alignment – For global subsidiaries or cross-border operations (US/Canada), ensure AML laws are mapped to FATF recommendations and local laws (e.g., FINTRAC in Canada, OFAC in the US).

16. Engage in FIU-IND Portal Operations – Manage user registration, system updates, data encryption tools (DSC usage), and digital certificate renewals on FINnet 2.0 portal.

TOOLS EXPECTED TO BE USED:

1. FIU-IND FINnet 2.0 Portal

2. KYC Utility Portals (CKYC, UIDAI Aadhaar e-KYC)

3. AML Monitoring Software

4. AI-powered screening tools for AML red-flag monitoring

SKILLS REQUIRED:

1. Expertise in FIU-IND compliance, AML/CFT frameworks, and STR/CTR regulatory reporting.

2. Proficient in drafting and managing cross-border legal contracts and corporate policies.

3. Skilled in immigration law, global mobility management, and international regulatory compliance.

4. Strong command over ISO 9001, ISO 27001, and CMMi-based quality and audit systems.

5. Advanced use of AI tools for legal research, compliance automation, and document analysis.

EDUCATIONAL QUALIFICATION :

Bachelor of Laws (LL.B.) with a preferred MBA or postgraduate certification in Corporate Law, AML/CFT, or Compliance.

EXPERIENCE REQUIRED:

Minimum 3 years of experience in legal compliance, AML/CFT, FIU-IND reporting, or corporate legal operations.

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