Shubhr Pathak
Summary
- Seasoned, value-driven compliance leader with over 20 years of experience in financial services, including housing finance, non-banking financial companies, and insurance.
- Proven track record in managing compliance for retail lending and insurance distribution, ensuring adherence to RBI, NHB, and IRDAI regulations.
- Skilled in regulatory compliance advisory, risk assessment, policy formulation, and adept at fostering a culture of compliance through effective training and awareness programs.
Overview
20
20
years of professional experience
1
1
Certification
Work History
Deputy Vice President - Compliance
Piramal Capital & Housing Finance Limited
04.2024 - Current
- Effectively communicated regulatory circulars and guidelines from RBI, NHB, and IRDAI to stakeholders, ensuring clear actionable for compliance across retail and wholesale business teams.
- Provided compliance advisory services, ensuring strategic alignment with regulatory requirements for Piramal Capital and Housing Finance Ltd and also Piramal Enterprise Ltd (NBFC).
- Performed comprehensive risk assessments, controls, and testing initiatives to identify and mitigate compliance risks.
- Conceptualized and Reviewed policies, products, and processes by offering compliance inputs to ensure regulatory adherence and mitigate risks.
- Developed and enforced compliance policies and procedures, significantly reducing compliance risk and enhancing operational integrity.
- Advised Senior Leadership on compliance matters, influencing strategic decisions and promoting a culture of compliance.
- Developed and presented monthly Compliance Dashboards for senior management and quarterly updates to the Board of Directors
- Ensured timely the filing of Cash Transaction Reports (CTR) and Suspicious Transaction Reports (STR),
- Ensured Timely Regulatory filing of returns including and adhoc data requirements with various regulators.
- conducted training programs to enhance compliance awareness and education among staff
Associate Vice President - Compliance
Piramal Capital & Housing Finance Limited
04.2023 - 03.2024
- Disseminated regulatory circulars and guidelines of RBI , NHB and IRDAI to stakeholders in both retail and wholesale business teams, ensuring clear actionable.
- Led compliance advisory for both retail and wholesale business teams.
- Conducted comprehensive compliance risk assessments and controls, and initiated compliance testing by implementing a structured framework.
- Reviewed policies, products, and processes, providing compliance inputs to ensure regulatory adherence.
- Advised senior leadership on compliance matters, guiding strategic decisions.
- Collaborated cross-functionally to ensure buy-in and understanding of compliance policies.
- Managed multiple regulatory inspections across group companies, responding to reports and ensuring compliance with actionable items.
- Maintained effective correspondence and fostered strong professional relationships with regulatory authorities.
- Ensured timely filing of returns with multiple regulators, including meeting ad-hoc data requirements.
- Supervised the filing of Cash Transaction Reports (CTR) and Suspicious Transaction Reports (STR).
Assistant Vice President - Compliance
Piramal Capital & Housing Finance Limited
10.2021 - 03.2023
- Disseminated regulatory circulars and guidelines from RBI, NHB, and IRDAI to retail and wholesale business teams, ensuring actionable compliance steps.
- Led compliance advisory for both retail and wholesale business teams.
- Conducted comprehensive compliance risk assessments and controls.
- Reviewed policies, products, and processes, providing compliance inputs to ensure regulatory adherence.
- Collaborated cross-functionally to implement regulatory guidelines.
- Managed multiple regulatory inspections across group companies, responding to reports and ensuring compliance.
- Initiated monthly Compliance Dashboard for senior management.
- Ensured timely filing of returns with multiple regulators like NHB and IRDAI.
Chief Manager - Compliance
Piramal Capital & Housing Finance Limited
04.2019 - 09.2021
- Contributed as a core team member during the Corporate Insolvency Resolution Plan, closely collaborating with RBI-appointed Administrators and consulting firms including EY, GT, and AZB.
- Played a pivotal role and served as a key member of the Sangam Project for the DHFL & Piramal merger and transition process, maintaining a strong association throughout.
- Ensured compliance with NHB & IRDAI regulations throughout the merger and transition process.
Senior Manager
Piramal Capital & Housing Finance Limited
04.2016 - 03.2019
- As a Designated Principal Officer – Insurance (Since Apr 2016 – till Present)
- Acted as the primary liaison with IRDAI, managing all communications, inspections, responses, and compliance matters.
- Ensured strict adherence to IRDAI stipulations in distributing, soliciting, and servicing insurance products.
- Submitted material disclosures and periodic returns to IRDAI on time
- Implemented efficient mechanisms for handling customer grievances in line with regulatory guidelines.
- Enforced ethical sales practices, preventing misleading or forceful selling of insurance products.
- Steered strategic planning for new initiatives, productivity management, and cost efficiencies.
- Collaborated with Functional and Zonal Heads to implement distribution strategies.
Designated Corporate Insurance Executive
Piramal Capital & Housing Finance Limited
01.2014 - 03.2016
Manager - Insurance
Piramal Capital & Housing Finance Limited
05.2010 - 12.2013
Branch Head
ICICI Prudential Life Insurance Company Limited
10.2009 - 04.2010
- Advanced from Executive to Branch Head at ICICI Prudential Life Insurance within 5 years, demonstrating proficiency in insurance products, sales, underwriting, customer service, claims, and team leadership.
- Drove channel partner business distribution ICICI Bank, India Info Line Blue Chip;
- Imparted soft skills and product knowledge to the channel partners
Corporate Agency & Broker Relationship Manager
ICICI Prudential Life Insurance Company Limited
04.2008 - 09.2009
Team Leader
ICICI Prudential Life Insurance Company Limited
10.2007 - 03.2008
Customer Service Associate
ICICI Prudential Life Insurance Company Limited
04.2006 - 03.2007
Executive
ICICI Prudential Life Insurance Company Limited
10.2005 - 03.2006
Business Development Manager
Shardul Securities Limited
04.2004 - 09.2005
Education
MBA - Master's in Financial Management
Mumbai University
05.2012
MBA - Master's in Marketing Management
Mumbai University
05.2009
Skills
- Compliance Advisory
- Compliance Monitoring
- Compliance Testing
- Compliance Risk Management
- Regulatory Compliance
- Regulatory Inspection Handling
- Anti-Money Laundering
- Strategy Planning & Execution
- Stakeholder Management
- Cross-Functional Collaboration
- Staff Training and Development
- Anti-Money Laundering
Accomplishments
- Played a pivotal role in implementing RBI’s Scale Based Regulations and roadmap for the Company identified as an Upper Layer Non-Banking Financial Company.
- Successfully implemented Customer Risk Screening systems for Retail in Digital Lending, improving regulatory adherence and operational efficiency.
- Established a Compliance Testing framework, conducting thorough assessments and due diligence for both new and existing Lending Service Partners.
- Identified high-risk areas through comprehensive risk assessments, enabling proactive compliance measures.
- Delivered compliance training to 1000 employees across all levels, fostering a culture of compliance.
- Partnered with HR to achieve a 100% completion rate in mandatory compliance training, ensuring staff competency.
Recognitions:
Feb 2023: Awarded by MD & CEO for Outstanding Performance at Annual Meet, Dubai.
Feb 2022: Recognized by Group Chief Compliance Officer as Star Compliance Advisor.
Certification
- 2018 : Certificate Course in Compliance, Governance, and Risk Management in Insurance being jointly granted by the Insurance Institute of India & Institute of Company Secretaries of India
- 2012: Diploma Certificate and Associate Membership being granted by the Insurance Institute of India
- 2010: Certificate of Licentiate (Life Branch) being granted by the Insurance Institute of India.
Timeline
Deputy Vice President - Compliance
Piramal Capital & Housing Finance Limited
04.2024 - Current
Associate Vice President - Compliance
Piramal Capital & Housing Finance Limited
04.2023 - 03.2024
Assistant Vice President - Compliance
Piramal Capital & Housing Finance Limited
10.2021 - 03.2023
Chief Manager - Compliance
Piramal Capital & Housing Finance Limited
04.2019 - 09.2021
Senior Manager
Piramal Capital & Housing Finance Limited
04.2016 - 03.2019
Designated Corporate Insurance Executive
Piramal Capital & Housing Finance Limited
01.2014 - 03.2016
Manager - Insurance
Piramal Capital & Housing Finance Limited
05.2010 - 12.2013
Branch Head
ICICI Prudential Life Insurance Company Limited
10.2009 - 04.2010
Corporate Agency & Broker Relationship Manager
ICICI Prudential Life Insurance Company Limited
04.2008 - 09.2009
Team Leader
ICICI Prudential Life Insurance Company Limited
10.2007 - 03.2008
Customer Service Associate
ICICI Prudential Life Insurance Company Limited
04.2006 - 03.2007
Executive
ICICI Prudential Life Insurance Company Limited
10.2005 - 03.2006
Business Development Manager
Shardul Securities Limited
04.2004 - 09.2005
MBA - Master's in Financial Management
Mumbai University
MBA - Master's in Marketing Management
Mumbai University
- 2018 : Certificate Course in Compliance, Governance, and Risk Management in Insurance being jointly granted by the Insurance Institute of India & Institute of Company Secretaries of India
- 2012: Diploma Certificate and Associate Membership being granted by the Insurance Institute of India
- 2010: Certificate of Licentiate (Life Branch) being granted by the Insurance Institute of India.
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