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Aditya Birla Sun Life AMC Limited

Aditya Birla Sun Life AMC Limited

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    Aditya Birla Sun Life AMC Limited

    Hemanti Wadhwa Head - Compliance, Legal and Secretarial

    Leadership Team

    Ms. Hemanti Wadhwa is the Head of Compliance, Legal and Secretarial at Aditya Birla Sun Life AMC Limited (ABSLAMC). She has twenty-two years of experience in areas such as compliance, legal, audit and secretarial and has been a part of the organization since January 2016. She also acts as the principal officer of our Company under the Prevention of Money Laundering Act, 2002.


    She has previously worked at Deutsche Asset Management (India) Private Limited, BNP Paribas Asset Management Limited (erstwhile ABN AMRO Asset Management (India) Limited), HDFC Asset Management Company Limited, Kotak Mahindra Asset Management Company Limited and at IL and FS Infra Asset Management Limited.


    She holds a Bachelor’s Degree in Law and Master’s Degree in Commerce from University of Mumbai and is a fellow member of Institute of Company Secretaries of India.

    Roles & Responsibilities with respect to Risk Management Roles & Responsibilities with respect to Risk Management

    SN

    Particulars

    1

    Formulate and implement compliance and other policies such as prevention of front running, outside business activity, commercial bribes and kickbacks, whistle blowing policy, record retention policy, outsourcing arrangements etc. in accordance with SEBI risk management framework and approved by the Board of AMC and Trustee.

    2

    Review and suggest changes in the policies and obtain approval from Board of AMC and Trustee.

    3

    Ensure identification and communication of regulatory updates to the respective functions and CXOs and monitor implementation.

    4

    Provide inputs to CRO to define risk threshold and risk appetite of Compliance.

    5

    Define and delegate roles to the key personnel within the compliance function for identifying and reporting risks.

    6

    Provide relevant information to CRO regarding monthly / quarterly risk reporting to the Committees.

    7

    For the relevant functional risks, identify, analyze and report the following to the CRO and CEO along with recommended action plan for:

  • o   Early warning signals

  • o   Emerging risks

  • o   Major findings

  • o   Near miss and loss events

  • o   Fraud incidents
    Ensure escalation of such incidents to CEO / CRO.

    •  

    8

    Ensure timely and accurate filing of the regulatory returns / filings.

    9

    Review the risk level for the functional risk is in accordance with the control framework and defined threshold.

    10

    Ensure adherence with the DoP framework.

    11

    Formulate, review and update the RCSA for key Compliance risks and controls.

    12

    Perform and report outcomes of periodic testing of the RCSA to CRO.

    13

    Identify and implement corrective actions / recommend action plans for deviations in the controls and present to CRO/ CEO.

    14

    Ensure adherence to the guidelines pertinent to SEBI in respect of RMF and relevant principles thereunder including risk identification, risk management, risk reporting (both periodic and escalation of material incident) and corrective actions taken.

    15

    Ensure timely submission of regulatory reports to the Regulator and Board of AMC and Trustee as prescribed by the SEBI Mutual Funds Regulations.

    16

    Monitor the following scheme related disclosures -

    • o   Disclosure of credit (quality of investments made mainly debt based on the credit rating), counterparty, investment and other risks associated with the scheme to the investors

    • o   Scheme's risk profile is stated in all communications with investors including in the SID and marketing materials

    • o   Incorporate any other elements of risk appetite as may be stipulated by AMCs and Trustees in SID.

    17

    Implement process for prevention or detection of possible insider trading at the personnel or portfolio levels.

    18

    Implement process for performing compliance check of AMC’s marketing materials (collateral, brochures etc.), website uploads, digital advertising, and performance advertising etc. before its usage.

    19

    Ensure that roles and responsibilities as per the RMF is disclosed on the AMC website

    20

    Responsible for the governance (incl. reputation and conduct risk associated for the respective function)

    21

    Maintaining risk level as per the risk metric

    22

    Define specific responsibilities regarding risk management of key personnel reporting to Head – Compliance, Legal and Secretarial

    23

    Undertake immediate corrective action for non-compliance or major finding post approval from CEO as per DoP and shall report to CRO regarding the risk reports.

    24

    Perform adequate due diligence of outsourced vendors prior to onboarding

    25

    Ensure periodic assessment of outsourced vendors considering following elements:

    • o   Review of vendors' people, systems and processes

    • o   Documentation and communication of error tolerance and code of conduct and monitoring breaches

    • o   Monitor fraud vulnerabilities in the outsourced process