Jayanth Samprathi: Leading With Innovation & Purpose
Jayanth Samprathi
Chief Risk & Compliance Officer
Nextwealth's Chief Risk and Compliance Officer, Jayanth Samprathi, is in charge of Enterprise Risk Management and compliance throughout multiple locations of the company. Audits & Certifications and CSAT Survey are also taken care of by Jayanth.In an exclusive interaction with CEO Insights, Jayanth enlightened us about the professional expedition.
Give us a brief detail about your educational and professional background before joining Nextwealth.
I completed my A.M.I.E. in Electronics and Communication from the Institution of Engineers, Kolkata. I spent over a decade working for Wipro in several capacities, including Head of GNOC(Global Network Operations Center)and Head of IT Quality. Also, for nearly five years, I worked for Datacraft India (Now Dimenstion Data, part of NTT) including the role of Regional Support Manager, where I was incharge of the post-sales operations for South India.
"I worked my way through hard work, dedication, constant upskilling and with support of various managers and people who mentored & supported me"
What were the initial challenges that taught you the basic lessons of developing,implementing and managing the compliance issues for large organizations and how did those help you achieve the success that you had in the later phase?
Large organizations will have a variety of cultures, regions, and ways of thinking. As a result, persuading everyone to obey the same set of rules is never easy. And back then, some people would remark, & I either work or follow the procedure. Basically, many people thought compliance was a lot of over head. As a result, compliance was viewed as a burden rather than a required component of standards, and it is a lengthy process of developing awareness materials, conducting awareness sessions, speaking with various people one-on-one, and so on. The approach to Compliance, in my opinion, is no different today the main difference is that my maturity level in executing my task has increased.
Compliance, on the other hand, entails documentation, which no one enjoys because it is perceived as a waste of time. Documentation is waste however, it is an 'unavoidable waste'according to the Toyota Lean principle. As a result, the most challenging task is to raise awareness that documentation is an 'essential and non-negotiable' aspect of the job. It is a continuing difficulty for organizations at various stages of maturity.
As the CCO of Nextwealth, what are the key drivers that you deploy to ensure that the company's regulatory compliances are used appropriately to meet its
short/long-term needs?
When it comes to compliance, we use a risk-based approach. And finally, we analyze what are the main areas of risk? Detailed documentation, checklists, training, self audits, internal audits, and external audits, as well as legal/ statutory, contractual,people, technology, process and operations. In addition, senior management commitment is critical for job compliance. As a result, that is the first step we take. Further more, all of our centres are OSP licensed to handle voice processes and compliance is ensured by work practices based on documentation, mail, automation, and MOMs, among other things.There are also reviews, internal & external audits, and ongoing improvements.
What kind of role & responsibilities that you play in the growth of the organization? What strategies do you follow to manage your organization's insurance portfolios?
A crucial area is giving confidence to our clients(existing and prospective) in our compliance and risk management. Internal audits, regular awareness initiatives, and externalcertification audit all contribute to this. It's also critical to identify major strategic projects that can assist us to achieve both our social and corporate objectives.One such example is the deployment of GISC. Many of our current employees fall into the Impact Employee category, and I'm aiming to improve it.
We have ISO 9001 and ISO27001 certifications. We are also PCI DSS, HIPAA, and GDPR compliant for some specific facilities. It means we follow procedures that are both consistent and compliant. We have a safe infrastructure in place. As a result, we feel we have the necessary expertise to manage a portfolio that demands the greatest level of security such as Bitdefender's EDR (Endpoint Detection and Remediation) DLP (Data Leakage Protection) Symantec and many more.
What are some of thelatest technologies deployed in the management of regulatory compliances to benefit the organizations?
E-Invoicing for raising invoices with digital signatures, as well as monitoring and evaluations on GST payments, are the most recent technologies used in the management of regulatory compliances to benefit enterprises. Our data is kept for a year to comply with regulations or what the regulations require, and all of our centres are OSP approved to handle voice procedures. We also have an ISO31000 compliant 'Enterprise Risk Management Framework',and all of the compliances are managed using a mix of tools, automation, and manual processes.
In your journey so far,which are the milestones that bestowed you with utmost satis faction both as an individual and a CCO?
When a customer needed PCI DSS certification urgently, we worked virtually nonstop and completed it in just five weeks, compared to the usual 3-6 months. Working with our locations to obtain ISO9k, ISO27k, HIPAA and GDPR certifications is also really fulfilling. When I was in Wipro heading IT Quality team, for the first time we got ISO 20000 certificate for Wipro Technologies, Wipro Infotech and Wipro BPO. That was another very satisfying moment.
When it comes to compliance, we use a risk-based approach. And finally, we analyze what are the main areas of risk? Detailed documentation, checklists, training, self audits, internal audits, and external audits, as well as legal/ statutory, contractual,people, technology, process and operations. In addition, senior management commitment is critical for job compliance. As a result, that is the first step we take. Further more, all of our centres are OSP licensed to handle voice processes and compliance is ensured by work practices based on documentation, mail, automation, and MOMs, among other things.There are also reviews, internal & external audits, and ongoing improvements.
The approach to Compliance, in my opinion, is no different today the maindifference is that my maturity level in executing my task has increased
What kind of role & responsibilities that you play in the growth of the organization? What strategies do you follow to manage your organization's insurance portfolios?
A crucial area is giving confidence to our clients(existing and prospective) in our compliance and risk management. Internal audits, regular awareness initiatives, and externalcertification audit all contribute to this. It's also critical to identify major strategic projects that can assist us to achieve both our social and corporate objectives.One such example is the deployment of GISC. Many of our current employees fall into the Impact Employee category, and I'm aiming to improve it.
We have ISO 9001 and ISO27001 certifications. We are also PCI DSS, HIPAA, and GDPR compliant for some specific facilities. It means we follow procedures that are both consistent and compliant. We have a safe infrastructure in place. As a result, we feel we have the necessary expertise to manage a portfolio that demands the greatest level of security such as Bitdefender's EDR (Endpoint Detection and Remediation) DLP (Data Leakage Protection) Symantec and many more.
What are some of thelatest technologies deployed in the management of regulatory compliances to benefit the organizations?
E-Invoicing for raising invoices with digital signatures, as well as monitoring and evaluations on GST payments, are the most recent technologies used in the management of regulatory compliances to benefit enterprises. Our data is kept for a year to comply with regulations or what the regulations require, and all of our centres are OSP approved to handle voice procedures. We also have an ISO31000 compliant 'Enterprise Risk Management Framework',and all of the compliances are managed using a mix of tools, automation, and manual processes.
In your journey so far,which are the milestones that bestowed you with utmost satis faction both as an individual and a CCO?
When a customer needed PCI DSS certification urgently, we worked virtually nonstop and completed it in just five weeks, compared to the usual 3-6 months. Working with our locations to obtain ISO9k, ISO27k, HIPAA and GDPR certifications is also really fulfilling. When I was in Wipro heading IT Quality team, for the first time we got ISO 20000 certificate for Wipro Technologies, Wipro Infotech and Wipro BPO. That was another very satisfying moment.
Overseeing and managing compliance issues within an organization brings a lot of stress and implies rich skills & time. How do you manage to balance your personal & professional life?
Compliance is something I think about at work and home, and things have to be done in a certain manner. I begin work only after cleaning my desk, and I prepare all of my belongings the day before any trip. I am punctual for meetings, and if I'm worried about forgetting something while out, I store it alongside my car keys so that I don't forget them. I required my children to obtain a driver's license before I gave them the keys to the vehicle. I always observe the rules of the road and do not skip red lights. And no matter how rushed I am, I only drive at a set speed. As a result, I am not overly stressed because compliance has been ingrained in my life. I consider myself to be a spiritual person. I read the BhagavadGita, which offers true meaning to all that is going on around me.
Family plays an important role in every professional’s life. How has been the support & inspiration from your family in your journey so far?
My wife has been quite understanding of my work commitments. Simultaneously, I have been reevaluating my career responsibilities to ensure that I have time for my family.
Are you engaged in any sort of mentorship programs outside your organization? How do you update yourself with the latest industry trends and technologies?
Because each of our centres are self-contained in terms of ownership, I spend a significant amount of time with the compliance leader at each location, providing ongoing coaching and mentoring. We do monthly awareness sessions to ensure that sincerity and dedication are maintained. And people do come to me for guidance and suggestions. I've always been known as an open person who tries hardest to answer appropriately. Reading numerous websites, ISO standards, TED lectures, and Googling for information keeps me occupied. The RFPs we react to, customer escalations, and our company goals are all key indicators of future trends and expectations that help us realign.
Is there anything you would like to add apart from the above mentioned questions?
I studied in Kannada medium till 10th standard in small towns of Karnataka in Government Schools. I struggled to speak in English for many years that included my initial years of professional life. I worked my way through hard work, dedication,
constant upskilling and with support of various managers and people who mentored & supported me.
I have taken some tough decision during my career to focus on work-life balance and I am very happy about it. For example, when my wife was pregnant for our second child, I gaveup pursuing a very important certification in CCIE, a very important certification in Cisco. Similarly, when I realized I was not giving enough time for my family, I left an organisation where I was having the most successful time in my career at that point in time I take lot of satisfaction in taking care of elderly people at home and also do some voluntary work.
Jayanth Samprathi,Chief Risk & Compliance Officer, Nextwealth
Jayanth completed his degreein Electronics and Communication from AMIE Institution of Engineers, Kolkata. He holds a professional experience of more than three decades. Prior to Nextwealth, Jayanth has been part of many prominent companies like ICIM Ltd, Wipro Technologies, Dimension Data and more.
Location:Bangalore
Compliance is something I think about at work and home, and things have to be done in a certain manner. I begin work only after cleaning my desk, and I prepare all of my belongings the day before any trip. I am punctual for meetings, and if I'm worried about forgetting something while out, I store it alongside my car keys so that I don't forget them. I required my children to obtain a driver's license before I gave them the keys to the vehicle. I always observe the rules of the road and do not skip red lights. And no matter how rushed I am, I only drive at a set speed. As a result, I am not overly stressed because compliance has been ingrained in my life. I consider myself to be a spiritual person. I read the BhagavadGita, which offers true meaning to all that is going on around me.
Family plays an important role in every professional’s life. How has been the support & inspiration from your family in your journey so far?
My wife has been quite understanding of my work commitments. Simultaneously, I have been reevaluating my career responsibilities to ensure that I have time for my family.
Are you engaged in any sort of mentorship programs outside your organization? How do you update yourself with the latest industry trends and technologies?
Because each of our centres are self-contained in terms of ownership, I spend a significant amount of time with the compliance leader at each location, providing ongoing coaching and mentoring. We do monthly awareness sessions to ensure that sincerity and dedication are maintained. And people do come to me for guidance and suggestions. I've always been known as an open person who tries hardest to answer appropriately. Reading numerous websites, ISO standards, TED lectures, and Googling for information keeps me occupied. The RFPs we react to, customer escalations, and our company goals are all key indicators of future trends and expectations that help us realign.
Is there anything you would like to add apart from the above mentioned questions?
I studied in Kannada medium till 10th standard in small towns of Karnataka in Government Schools. I struggled to speak in English for many years that included my initial years of professional life. I worked my way through hard work, dedication,
constant upskilling and with support of various managers and people who mentored & supported me.
I have taken some tough decision during my career to focus on work-life balance and I am very happy about it. For example, when my wife was pregnant for our second child, I gaveup pursuing a very important certification in CCIE, a very important certification in Cisco. Similarly, when I realized I was not giving enough time for my family, I left an organisation where I was having the most successful time in my career at that point in time I take lot of satisfaction in taking care of elderly people at home and also do some voluntary work.
Jayanth Samprathi,Chief Risk & Compliance Officer, Nextwealth
Jayanth completed his degreein Electronics and Communication from AMIE Institution of Engineers, Kolkata. He holds a professional experience of more than three decades. Prior to Nextwealth, Jayanth has been part of many prominent companies like ICIM Ltd, Wipro Technologies, Dimension Data and more.
Location:Bangalore