The Operational Compliance Officer is responsible for overseeing the adherence to PFRDA guidelines, internal controls, and statutory requirements. This role serves as the bridge between regulatory mandates and the day-to-day backend operations, ensuring that the CRA remains audit-ready and that subscriber data and investments are processed with zero operational drift.
Key Responsibilities
Regulatory Monitoring: Continuously monitor updates, circulars, and notifications issued by PFRDA and ensure their prompt implementation within the CRAs operational systems (e.g., updates to KYC norms, grievance handling, or exit processes).
Process Oversight: Evaluate internal operational workflows—such as PRAN generation, unitization of contributions, and withdrawal processing—to ensure they meet the defined Service Level Agreements (SLAs) and regulatory timelines.
Audit & Reporting:
- Coordinate periodic internal and external audits of CRA operations.
- Prepare and submit compliance reports to the PFRDA and the NPS Trust.
- Track and ensure the closure of any audit observations or inspection findings.
Risk Management: Identify operational risks (e.g., data security breaches, reconciliation errors, or process bottlenecks) and develop robust mitigation strategies or Standard Operating Procedures (SOPs).
Data Privacy & Cyber Security: Ensure that all IT systems managing subscriber data comply with PFRDA’s Information and Cyber Security Policy Guidelines, including data encryption and secure transmission protocols.
Training & Awareness: Conduct training sessions for operational staff on recent regulatory changes, AML/CFT (Anti-Money Laundering/Combating the Financing of Terrorism) requirements, and ethical business conduct.
Requirements & Qualifications
Education: Bachelor’s degree in Finance, Accounting, Law, or a related field. A certification in Compliance or Risk Management is