| | NOVEMBER 202319challenging experience. Being a part of a prestigious institution like RBI has made this journey even more fulfilling. Presently, I hold the position of Chief Compliance Officer at HDB Financial Services. What are your responsibilities as a Chief Compliance Officer at HDFC financial services and how is your work adding to the value of the company? The Compliance Officer's job is quite challenging as it requires balancing various regulations from different authorities like SEBI, IRDA, and other related laws, rules & regulations. In an ethical organization wherezero tolerance for non-compliance, the task is more challenging. Facing numerous challenges, I have successfully implemented a strong compliance culture throughout the organization. HDB Financial Services operates as a compliant organization, ensuring strict adherence to supervisory prescriptions and all rules and regulations. My prime responsibility is to abide by the rules and regulations and ensure their implementation effectively, thereby protecting the wider interest of stakeholders.How would you define HDB Financial Services as an organization and its current position in the market?HDB Financial Services a majorly -owned subsidiary of HDFC Bank, is an integral part of HDFC Bank Group. As a non-banking subsidiary of HDFC Financial Services, it has been actively present in the financial market since its establishment in 2007. Over the years, it has made significant progress, with remarkable achievement in all aspects of financial parameters. With a focus on digital lending, it has extended its reach to even the remotest corners of India through its widespread branch network. The organization has garnered a strong reputation in aspirational India for its impressive Y-o-Ygrowth rate. The Company has been conspicuous in maintaining a healthy work-life balance and emphasizing excellence, a growth-oriented and challenging environment. It is seen as a balanced and growing financial institution with a commitment to achieving targets without undue pressure.Explain your leadership style and the principles or methods you adhere to as a leader.My leadership effectiveness is subject to external evaluation rather than relying solely on my own perception. As a leader, I have encountered numerous challenges while implementing management services, especially in the financial sector where strict regulatory prescriptions are in place. Meeting these challenges has been demanding, especially since the industry operates under zero tolerance for non-compliance with rules and regulations. Nevertheless, I strive to ensure strict adherence to these regulations for both the benefit of the organization and its stakeholders. What were the initial challenges you encountered, and how did you overcome them to achieve success in your professional journey?Leading a role as a CCO is undeniably challenging, especially when it comes to convincing both individuals and the organization to comply with stringent regulations and implement new limitations. This is equally applicable to both banks and NBFCs. Complying with rules and regulations is essential for the betterment of any organization'soverall health and success. To overcome these challenges, strong leadership qualities, effective communication, and persuasion skills are necessary. Even when faced with resistance or criticism, explaining the rationale behind rules and regulations becomes crucial. It may initially appear challenging, but adhering to these regulations is necessary for sustainable growth and improved performanceWhat are your future plans?I am fully committed to taking responsibility for any potential damages. Right now, my primary focus and duty are to strengthen HDB Financial Services, which remains my short to medium-term goal. Once that is accomplished, I might consider exploring new ventures in the future. My aspiration has always been to achieve excellence, and I firmly believe that success will naturally follow as we strive for greatness. To attain that level of excellence, I am prepared to face various challenges, viewing them as opportunities for growth. My immediate priority is to ensure HDB Financial Services achieves full compliance with all regulations and standards.. CHIEF COMPLIANCE OFFICERS2023 TOP 10
< Page 9 | Page 11 >