Job Description

Company Overview

Kosamattam Finance Ltd. is a trusted financial services company with over 150 years of experience in delivering reliable loan and financial services to the common man. With a strong commitment to customer satisfaction and maintaining a reputable brand, Kosamattam Finance Ltd. is dedicated to protecting its customers\' investments.

Job Overview

As a Vigilance Officer at Kosamattam Finance Ltd., you will be responsible for ensuring the compliance of the company\'s operations with legal and regulatory requirements, as well as identifying and mitigating potential risks. This is a full-time position based in Kottayam, Kerala, with a competitive salary range.

Qualifications and Skills

• Bachelor\'s degree.
• Retired police officer.
• Proven experience in a similar vigilance or compliance role, preferably in the financial services sector.
• In-depth knowledge of legal and regulatory requirements related to financial services.
• Strong analytical and problem-solving skills with the ability to think critically and identify potential risks.
• Excellent communication and interpersonal skills to effectively collaborate with various stakeholders.
• High level of integrity, ethics, and professionalism.
• Ability to maintain confidentiality and handle sensitive information.
• Proficient in using computer software and tools for data analysis and reporting.
• Certifications or training in vigilance, compliance, or risk management will be an added advantage.

Roles and Responsibilities

• Develop and implement an effective vigilance program to ensure compliance with legal and regulatory requirements.
• Conduct regular audits and inspections to identify potential risks and deviations from established policies and procedures.
• Investigate and resolve any reported incidents of fraud, misconduct, or non-compliance.
• Collaborate with relevant stakeholders to develop and enforce policies and procedures that promote ethical practices and prevent fraudulent activities.
• Prepare and submit timely reports and recommendations to senior management regarding vigilance activities and findings.
• Provide training and guidance to employees on vigilance-related matters and promote a culture of ethical behavior and compliance.
• Stay up to date with the latest industry trends, regulations, and best practices in vigilance and compliance.
• Manage confidential information and ensure data security and privacy.
• Collaborate with internal and external stakeholders, such as regulatory bodies and law enforcement agencies, as necessary.

Role of Vigilance Officers

1. Prevention of forgery, cheating, abuse of official position with a view to obtaining pecuniary or non-pecuniary advantage for self or for any other person.

2. Examine in detail the existing Rules and procedures of the company with a view to eliminate or minimize the scope for corruption or malpractices.

3. Identify the sensitive/corruption prone spots in the company and keep an eye on personnel handling such areas.

4. Maintain proper surveillance on officers of doubtful integrity; like their life style, doing private businesses / family business, staff get-together, Benami Transactions etc.

5. Prevention of lapses involving but not limited to any of the following ;

(a) Gross or willful negligence;

(b) Recklessness;

(c) Cause of undue loss or a concomitant gain to an individual or a set of individuals/a party

or parties

(d) Flagrant violation of systems and procedures.

6. Examine the Organization procedure and eliminate or minimize factors that provide opportunities for corruption or malpractices and suggest remedial measures.

Duties of Vigilance Officers

1. Plan, conduct regular inspections and surprise visits

2. Follow up of Major irregularities reported in branches by Appraisers/Auditors (Spurious/Low Purity/Weight Difference/Stone Weight Difference).

3. Follow up of police cases and other legal matters reported in the branches of respective Regions.

4. Verification of Cash and Gold packets subject to special permission from Head Office, whenever it is necessary and suspicious transactions verification. Matters which require urgent and special attention is to be reported instantly by Flash Report to HO.

5. Identify sensitive Branches and plan surprise inspections to these branches at least once in 3 months and once in 6 months for other branches.

6. Preparation of list of Officials with Doubtful Integrity.

7. Investigation of Complaints which include customer and third party complaints connected to company officials.

8. Grant of Vigilance Clearances for new joiners

9. Maintain close liaison / interaction with HO Depts. on vigilance matters.

10. Speedy processing of vigilance cases at all stages, daily / periodic review of all pending cases with HO. In addition, VO would also be required to furnish report on the vigilance activities in his jurisdiction on a periodic basis, preferably monthly

11. Devise and adopt appropriate methods to collect information about any malpractice and misconduct among the employees referred.

12. Close liaison and co-operation between the law enforcement authorities and other competent authorities during the course of investigation and recovery.

13. Develop an effective fraud risk management system in the company.

14. Documenting, investigative outcomes and findings in the form of comprehensive investigation reports

15. Review and update the status of cases with Audit/ Division/ Zonal Head / Regional Heads etc on a periodic intervals

16. Actively monitor the businesses activities of branches and provide technical expertise from a fraud loss avoidance risk management perspective.

17. Work with internal and external teams to identify risk factors and trends of abnormal activity and suggest change with respect to policy and procedure changes.

18. Access the industry /area specific risk and report it to competent authorities. Assist the management in development and implementation of new controls mechanism or for modification of existing one.

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