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Aditya Birla Sun Life AMC Limited

Aditya Birla Sun Life AMC Limited

    • Parth Makwana Chief Compliance Officer

    Leadership Team

    Mr. Parth Makwana is the Chief Compliance Officer of Aditya Birla Sun Life Mutual Fund. Mr. Parth Makwana joined Aditya Birla Sun Life AMC Ltd. (‘the Company’) in December 2016 and has an overall experience of 12 years in the Compliance Function of the Mutual Fund industry. In his current role, he is primarily responsible for ensuring compliances with various applicable SEBI laws and Prevention of Money Laundering Act. Additionally, he has handled audits and inspections. Prior to joining the Company, he was associated with asset managers viz. HDFC Asset Management Company Limited, Nippon Life India Asset Management Limited and IDBI Asset Management Limited. He is a Law Graduate and a 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
    Responsible for the governance of compliance risks.
    2
    Formulate and implement compliance and other policies such as prevention of front running, outside business activity, commercial bribes and kickbacks, Whistle Blower policy, record retention policy, outsourcing arrangements etc. in accordance with SEBI risk management framework and approved by the Board of AMC and Trustee
    3
    Review and suggest changes in the policies and obtain approval from Board of AMC and Trustee
    4
    Ensure identification and communication of regulatory updates to the respective functions and CXOs and monitor implementation
    5
    Provide inputs to CRO to define risk threshold and risk appetite of Compliance
    6
    Define and delegate roles to the key personnel within the compliance function for identifying and reporting risks
    7
    Provide relevant information to CRO regarding monthly / quarterly risk reporting to the Committees
    8
    For the relevant functional risks, identify, analyze and report and escalate to the CRO and CEO along with recommended action plan for Early warning signals, Emerging risks, Major findings, Near miss and loss events and fraud incidents.
    9
    Ensure timely and accurate filing of the regulatory returns / filings
    10
    Review the risk level for the functional risk is in accordance with the control framework and defined threshold
    11
    Ensure adherence with the DoP framework
    12
    Formulate and review the RCSA for key risks and controls and periodically provide inputs to update the RCSA for compliance function.
    13
    Perform and report outcomes of periodic testing of the RCSA to CRO
    14
    Identify and implement corrective actions / recommend action plans for deviations in the controls and present to CRO/ CEO
    15
    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.
    16
    Ensure timely submission of regulatory reports to the Regulator and Board of AMC and Trustee as prescribed by the SEBI Mutual Funds Regulations
    17
    Monitor the following scheme related disclosures –

    • 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
    • Scheme's risk profile is stated in all communications with investors including in the SID and marketing materials
    • Incorporate any other elements of risk appetite as may be stipulated by AMCs and Trustees in SID
    18
    Implement process for prevention or detection of possible insider trading at the personnel or portfolio levels
    19
    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
    20
    Ensure that roles and responsibilities as per the RMF is disclosed on the AMC website
    21
    Responsible for the governance (incl. reputation and conduct risk associated for the respective function)
    22
    Maintaining risk level as per the risk metric
    23
    Define specific responsibilities regarding risk management of key personnel reporting to Chief Compliance Officer
    24
    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.
    25
    Perform adequate due diligence of outsourced vendors prior to onboarding
    26
    Ensure periodic assessment of outsourced vendors considering following elements:
    • Review of vendors' people, systems and processes
    • Documentation and communication of error tolerance and code of conduct and monitoring breaches
    • Monitor fraud vulnerabilities in the outsourced process.
    • Report SLA breaches