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Aditya Birla Capital Limited
Aditya Birla Capital Limited (“ABCL”) is a listed systemically important non-deposit taking Non-Banking Financial Company (NBFC) and the holding company of the financial services businesses. ABCL and its subsidiaries/JVs provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Powered by over 63,750 employees, the businesses of ABCL have a nationwide reach with over 1,712 branches and more than 200,000 agents/channel partners along with several bank partners.
Nationwide Branches
1,712
No. of Employees
63,750+
Agents/Channel Partners
2,00,000+
Aggregate Assets
INR 5.50 Lakh Cr
Active Customer Base
39 Million
Consolidated Lending Book
INR 1.78 Lakh CrCorporate Governance Policies
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Job Description
Team Member - Product Compliance
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Job Description
Job Purpose
This role is responsible for
Reviewing and filing all documents w.r.t. Schemes/proposals with SEBI. Handling and ensuring compliance under SEBI (AIF) Regulations including product launches. Handling Prevention of Monet Laundering Act (PMLA) related compliances. Approving marketing materials including investor education materials and handling Internal/statutory audit requirements.
Job Context & Major Challenges
Organisation Context
Aditya Birla Sun Life AMC Limited (ABSLAMC), is a public limited company incorporated under the Companies Act, 1956 on September 05, 1994. ABSLAMC has been appointed as the Investment Manager of Aditya Birla Sun Life Mutual Fund by the Trustee vide Investment Management Agreement dated December 16, 1994, executed between Aditya Birla Sun Life Trustee Private Limited & Aditya Birla Sun Life AMC Limited. The employees strength of ABSLAMC is approx. 1077 employees as on June 2020.
Aditya Birla Sun Life Mutual Fund (ABSLMF), is co-sponsored by Aditya Birla Capital Limited and Sun Life (India) AMC Investments Inc.
ABSLMF is one of the leading Fund Houses in India based on domestic average AUM as published by the Association of Mutual Funds of India (AMFI). ABSLMF has an impressive mix of reach, a wide range of product offerings across equity, debt, balanced as well as structured asset classes, sound investment performance.
With a pan India presence across 310 locations, ABSLMF is committed to deepening mutual fund penetration in the country. The company is ceaselessly working to enhance the appeal of mutual funds across a wider set of investors and advisors across India. Part of this effort includes introducing smart solutions, user-friendly services and conveniences which simplify mutual fund processes with digitization for both investors as well as distribution partners. ABSLMF provides sector specific equity schemes, fund of fund schemes, hybrid and monthly income funds, debt and treasury products and offshore funds.
Key Challenges for the role are as follows:
Necessity for faster understanding of AIF products:- AIF being a very nascent market and schemes are complex in nature, clauses in PPM have to be very detailed and accurate. Confirmations on certain legal clauses from stakeholders requires detailed study and practical implementation at their end which may extend the time span for regulatory clearances
Analysing the Suspicious Transaction data as required under PMLA guidelines and reporting of transactions with Financial Intelligence Unit (FIU):- ABSL AMC being the 4th largest fund house in India there is huge investor database which requires a very detailed study every month. Getting the data on time from Registrar is at times challenging which delays the conducting of the STR Committee Meeting where the ascertaining of suspicious transaction is deliberated upon.
Obtaining timely clearance of Schemes/proposals filed with SEBI:- Post filing of Schemes, regulator may raise certain observations as per their internal policies that requires deeper understanding of investment strategies with the Fund Managers and the Product Team which can at times be challenging
Key Result Areas
| KRA (Accountabilities) (Max 1325 Characters) | Supporting Actions (Max 1325 Characters) | |
|---|---|---|
| KRA1 | Alternative Investment Funds | To prepare, review and file PPMs/CAs and Trust Deeds for the launch of all Funds under AIF. To upload monthly/quarterly reports on SEBI To prepare, review and submit CTRs of schemes to the board and SEBI (if needed) Timely updation of PPMs Vetting investor communications/reports sent to investors To coordinate for winding up of Funds launched under AIF Addressing all ad-hoc data and audit requirements Updating and reviewing policies and manuals Tracking and analyzing AIF related circulars |
| KRA2 | Compliance as per PMLA | Ensure data from CAMS is received on monthly basis on any flags like frequent redemptions in a short period of time Undertake internal review of the data received as per parameters defined by AMFI Upload STR on Financial Intelligence Unit portal within 7 days for any suspicious data Assist in conducting STR meeting Preparing Agenda and Minutes for STR committee meeting and ensuring that they are circulated within time Updating PMLA policy Tracking and analyzing PMLA related circulars |
| KRA3 | Product Compliance | Reviewing product proposal received from Products team and providing feedback on structuring of Product. Reviewing Scheme Information Documents (SIDs), filing it with SEBI for clearance and proactively addressing clarifications raised by SEBI about all products filed. Reviewing all 50 SIDs/KIMs and ensuring that annual updation of all schemes is undertaken within timelines. Liaising with internal product team and investment team for any product specific queries from SEBI. In exceptional situations, creation of segregation of units and listing of those units Review of Annual and Bi-monthly updation of SAI Reviewing all notices for various proposals like change in exit load, change in benchmark, fund managers, etc. Review and ensure all listing related compliances are undertaken for all close ended schemes within timelines. |
| KRA4 | Facilities, Asset Allocation and Merger of schemes | Seeking approval from Trustees and AMC Directors and clearance from SEBI, in case of changes in Fundamental Attributes and merger of Schemes Drafting addendum for change in Fundamental attributes/mergers to be issued in newspapers about the changes and provides the same to SEBI Monitoring compliance related activities post SEBI clearance |
| KRA5 | Appointment & cessation of Key Managerial Personnels, Directors, | Reviewing and filing of biodata, affidavits, etc. on timely basis with SEBI for all Director/KMP appointments/cessations Review of notice cum addendum to be published in the newspapers and filing the same with SEBI. |
| KRA6 | Other compliance related activities | Review of compliance manual Updating various compliance trackers Tracking and disseminating SEBI orders Reviewing and publishing various notices and addendums |
| KRA7 | Approval of marketing literatures | Ensuring that marketing literature meets regulatory norms as defined by SEBI, AMFI, Group and AMC by meticulous vetting Validate TV commercials, radio commercials, external presentations, investor education adverts, disclaimers, website, app, privacy policy, etc for compliance Ensure that the clearance is provided within a short time frame (generally 1 day) Filing the released marketing materials with SEBI within 7 calendar days To review and clear advertisement pertaining to Investor Education Reviewing website |
| KRA8 | Implementation of new circulars and listing compliance | Tracking and ensuring compliance with SEBI/AMFI circulars. Ensuring all compliances pertaining to listing of schemes is done within regulatory timelines |
4 - 10 years
Undergraduate
Aditya Birla Sun Life AMC Ltd
Aditya Birla Sun Life AMC Ltd
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AB Sun Life Insurance Co Ltd
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Aditya Birla Capital Limited
Aditya Birla Capital Limited
HDFC Bank Relationship
HDFC Bank Relationship
Third Party Distribution
Aditya Birla Capital Limited
HDFC Bank Relationship
Third Party Distribution
HDFC Bank Relationship-Branch Banking
Aditya Birla Capital Limited
Aditya Birla Capital Limited
HDFC Bank Relationship
HDFC Bank Relationship
HDFC Bank Relationship
HDFC Bank Relationship
Aditya Birla Sun Life AMC Ltd
