SACHINDRA KUMAR RAI
Chief Compliance Officer and Chief Ethics Officer
Mumbai,MH
Summary
Skilled compliance professional with strong track record in regulatory adherence and risk management. Adept at developing and implementing compliance programs, ensuring organizational policies meet all legal and ethical standards. Known for fostering team collaboration and delivering results under changing conditions. Expertise in policy development, internal audits, and regulatory reporting. Trusted for reliability and adaptability in high-stakes environments.
Qualified Compliance Professional. Proven track record in leading compliance programs, enhancing regulatory adherence, and mitigating risks. Demonstrated expertise in policy development and risk management, ensuring organizational integrity and ethical operations.
Experienced with regulatory compliance, policy development, and risk management. Utilizes in-depth knowledge to streamline compliance processes and ensure adherence to legal standards. Track record of implementing robust compliance programs that safeguard organizational integrity.
Compliance professional with extensive experience in regulatory adherence, policy development, and risk mitigation. Known for fostering collaborative environment and consistently achieving results. Proven ability to adapt to evolving compliance landscapes and deliver comprehensive compliance solutions.
Persistent leader eager to lead and grow organizations. Skilled in strategic planning, problem-solving, and communication with good understanding of business principles, project management and team leadership. Collaborative with relentless work ethic.
Pragmatic professional with solid experience in leadership roles. Adept at implementing strategic business plans, driving growth and improving operations. Skilled in financial management and stakeholder relations. Collaborative and dedicated to building and leading talented and motivated individuals.
Overview
22
22
years of professional experience
1
1
Certification
Work History
Chief Compliance Officer
National Bank for Financing Infrastructure and Development
01.2024 - Current
- Develop, implement, and continuously enhance a comprehensive risk-based compliance and ethics framework aligned with regulatory requirements and organizational objectives.
- Provide strategic leadership in compliance, ethics, risk management, monitoring, and reporting to the Board, Audit and Compliance Committee, CEO, and regulators.
- Lead cross-functional risk assessments, compliance audits, and controls evaluations to identify gaps and develop targeted remediation plans.
- Establish, monitor, and update compliance policies, procedures, and internal controls to ensure alignment with evolving laws, regulations, and industry best practices.
- Advise senior leadership on compliance implications of strategic initiatives, ensuring alignment with ethical standards and business objectives.
- Oversee regulatory reporting and timely completion of statutory filings, including Suspicious Transaction Reports (STR), Cash Transaction Reports (CTR), and other mandatory submissions.
- Act as the primary liaison with regulators, external auditors, law enforcement agencies, and industry associations, ensuring transparent communication and timely resolution of findings.
- Design and execute compliance training programs, workshops, and awareness initiatives to embed a strong culture of compliance and ethical conduct throughout the organization.
- Foster organizational commitment to ethics, accountability, and integrity by promoting ethical business practices across all levels of staff.
- Lead internal investigations into potential misconduct or policy breaches, recommend corrective actions, and mitigate potential legal or reputational risks.
- Utilize data analytics and monitoring tools for proactive identification of compliance risks, emerging threats, and trends.
- Collaborate with business units, legal, finance, and operational teams to strengthen compliance integration into daily processes and decision-making.
- Mentor and manage a high-performing compliance team, setting goals, providing professional development opportunities, and cultivating leadership succession.
- Support internal and external audit readiness by ensuring testing, documentation, and continuous improvements in compliance processes.
- Streamline regulatory reporting and risk management processes to improve efficiency, accuracy, and timeliness.
- Oversee ethics-related matters, including anti-bribery and anti-corruption (ABAC), anti-money laundering (AML), sanctions compliance, data protection, and conflicts of interest.
- Serve as the organization’s advocate for best practices in governance, industry standards, and evolving compliance frameworks.
- Represent the organization at industry forums, regulatory consultations, and professional committees to remain abreast of market developments.
- Drive organizational change through compliance modernization initiatives, policy automation, and cultural reinforcement of ethical practices.
- Evaluate business risks, competitor trends, and regulatory advancements to ensure proactive risk mitigation and business continuity.
Chief Compliance Officer
SBM Bank India Ltd.
04.2020 - Current
- Strategic Thinking & Foresight: Created tailored risk-based plans allowing improved focus on key critical business areas; catalyst for creating cohesive and well-defined organizational priorities and compliance structures
- Process-driven: Dexterously apprised the Board & Senior Management on regulations, rules and standards and other further developments
- Risk Assessment: Applied pragmatic overview in conducting assessment of the compliance risk; designed risk-oriented action plan based on compliance assessment as well as submitted the same to the ACB for approval
- Management Reporting: Expertly reported to the Board, ACB, MD and CEO about any major changes / observations relating to the compliance risks
- Solutions Delivery: Envisioned multi-pronged approach in providing solutions as well as designing growth and operational planning strategies focused on Risk & Regulatory Compliance Standards
- Compliance Testing: Oversaw and tested the compliance by performing sufficient & representative compliance testing; examined sustenance of compliance as an integral part of compliance testing and annual compliance assessment exercise
- Review & Vetting Process: Significant contributions towards risk-based Supervision Tranche 1 Series & Tranche 2; instrumental in finalisation of finding of Tranche 3 and submission to Reserve Bank of India
- Initiatives Taken: Pivotal in Annual Supervisory Inspection by Reserve Bank of India; actively involved in dissemination, tracking and monitoring of implementation of regulatory guidelines issued by various regulators and advisory bodies
- Advisory Services: Efficiently & effectively rendered advisory services to Business and Operations on compliance related matters; functioned as Advisor to the Digital Banking channels and the products thereon
- Surpassing Goal Metrics: Handpicked by management for monitoring Compliance and AML Risk Committee (CARC)
- Head of Financial Crime Compliance | Financial Crime Compliance – Anti-Money Laundering, Know Your Customer and Economic Sanction (Money-Laundering Reporting Officer)
- Played an essential role in:
- Conducting Money-Laundering and Terrorist Financing Risk Assessment, annually
- Writing Policies & Procedures related to Know Your Customer, Anti-Money Laundering as well as Combating Financing of Terrorism (AML/CFT) and Economic Sanction
- Preparing Annual AML Compliance Plan; also ensured implementation of AML Transaction Monitoring System to monitor AML Alerts; AML & Trade Based Money-Laundering (TBML) scenarios as prescribed by FIU-Ind
- Laid groundwork in building Anti-Money Laundering (AML) Compliance Framework and robust AML Compliance & Sanction Compliance Programs
- Deftly submitted various reports to FIU-Ind viz. Cash Transaction Report, Suspicious Transaction Report, Cross-Border Wire Transfer Report, NPO Transaction Report and Counterfeit Currency Report
Head of Compliance
The Bank of Nova Scotia (Scotiabank)
04.2015 - 04.2020
- Uphold the oversight and managed overall compliance tasks of the Bank’s India Operations; skilfully ensured governance at Apex level by conducting and participating in apex level meetings
- Dexterously liaised with SEBI for FPI, dealing in Security borrowing & lending and ODI
- Contributions towards implementation of risk-based supervision and its onsite inspection under section 35 of BR Act
- Served as:
- Compliance Advisory in the areas of Trade Finance, Treasury and Corporate Banking; engaged with RBI officials from time-to-time and contacted them for queries or follow up for necessary approvals
- Business Advisory on various compliance related issues (trade, treasury, and FEMA related matters)
- Principal Officer under PMLA & FATCA reporting
- Financial Crime Compliance – Fraud Monitoring Cell
- Aided in driving Fraud Monitoring Cell; stellar role in implementation of Enterprise-Wide Fraud Transaction Monitoring System as well as preparation and reporting of MIS based on the Fraud Transaction Monitoring System
- Ensured submission of Regulatory Reporting to Reserve Bank of India
- Additionally, conducted Program for Fraud Awareness & Fraud Prevention
- Chief of Internal Vigilance & Administrator for Whistle Blower
- Proven versatility as Chief of Internal Vigilance & Administrator, effectuated framework for Internal Vigilance
- Paved the way in writing:
- Vigilance related Policy & Procedures; Anti-Bribery Anti-Corruption (ABAC) Policy and related Procedure
- Whistle Blower Policy and related procedures
Vice President - Compliance
MUFG Bank
04.2009 - 07.2015
- Reviewed and countered critical challenges of handling overall compliance activities of Indian Operations of the bank
- Handled spectrum of regulatory inspection & examination work findings of RBI during Annual Financial Inspection
- Actively participated in Risk Management Committee Meetings; moreover, laid down KYC policy for India Operations
- Looked after Implementation of AML/KYC Guidelines and Sanction Monitoring including sanction imposed by OFAC, EU, UNO, and country specific sanctions
- Conducted compliance testing based on controls prescribed under RBI circulars
- Instrumental in implementation of IBA recommendations on alert generation scenarios as part of Transaction Monitoring System
- Subject Matter Expert in Fraud Investigations, Anti-Money Laundering Tasks in the bank including business advisory on various compliance related issues i.e. Trade, Treasury and FEMA related Matters
- Monitored regulatory reporting work entailing CTR, CCR, NTR, STR and CBWTR
- Checked the RBI regulations & circulars and made recommendations to improve the bank’s compliance
- Bridged a gap between Branches, CCO, Asia Compliance Office and Global Compliance Division
- Developed and implemented compliance programs ensuring adherence to regulatory requirements.
- Conducted risk assessments to identify compliance gaps and recommend corrective actions.
Manager - Internal Audit
HDFC Bank Ltd.
11.2007 - 03.2009
Deputy Manager - Internal Auditor
IndusInd Bank Ltd.
12.2005 - 10.2007
Audit Manager
BMChatrath & Co., Chartered Accountants
05.2004 - 11.2005
Audit Manager
Sushil Jeetpuria & Co., Chartered Accountants
10.2003 - 03.2004
Education
Master of Law - Criminal Law & Criminal Administration
University of Mumbai
01.2021
Cost and Management Accounting - undefined
The Institute of Cost Accountants of India
01.2021
Company Secretary - undefined
The Institute of Company Secretary of India
01.2016
Chartered Accountancy - undefined
The Institute of Chartered Accountants of India, Delhi
01.2003
Skills
- Strategy Advisory & Formulation
- Policy Planning and Execution
- Program Development
- Liaison & Coordination
- Decision Making
- Business Crisis Resolution
- Compliance Monitoring & Testing
- Corporate Governance
- Management Reporting
- Team Leadership
- Compliance Advisory
- Operational Performance Improvement
- Anti-Money Laundering Reporting
- Anti-Bribery Anti-Corruption (ABAC)
- Communication & Creative
- Ethical leadership
- Regulatory expertise
- Team management
- Audit coordination
- Data privacy
- Compliance monitoring
- Anti-money laundering
- Corporate governance
- Internal audits
- Investigations skills
- Training delivery
- Compliance reviews
- Effective communicator and public speaker
- Quality assurance
Certification
1. Certified Anti-Money Laundering Specialist
2. Certified Information Systems Auditor
3. Certified Associate of Indian Institute of Bankers
4. Certified Business Compliance Professional
5. Certified ESG Impact Leader
Languages
English
Bilingual or Proficient (C2)
Hindi
Bilingual or Proficient (C2)
Timeline
Chief Compliance Officer
National Bank for Financing Infrastructure and Development
01.2024 - Current
Chief Compliance Officer
SBM Bank India Ltd.
04.2020 - Current
Head of Compliance
The Bank of Nova Scotia (Scotiabank)
04.2015 - 04.2020
Vice President - Compliance
MUFG Bank
04.2009 - 07.2015
Manager - Internal Audit
HDFC Bank Ltd.
11.2007 - 03.2009
Deputy Manager - Internal Auditor
IndusInd Bank Ltd.
12.2005 - 10.2007
Audit Manager
BMChatrath & Co., Chartered Accountants
05.2004 - 11.2005
Audit Manager
Sushil Jeetpuria & Co., Chartered Accountants
10.2003 - 03.2004
Cost and Management Accounting - undefined
The Institute of Cost Accountants of India
Company Secretary - undefined
The Institute of Company Secretary of India
Chartered Accountancy - undefined
The Institute of Chartered Accountants of India, Delhi
Master of Law - Criminal Law & Criminal Administration
University of Mumbai