
Independent and Insightful Advice
An independent advisory/consultancy platform that will provide timely and insightful guidance and support to navigate increasingly complex regulatory requirements and expectations.

Team of Seasoned Professionals
At your disposal is an experienced team of professionals combining several decades of experience around financial service regulations and related adherence frameworks.

Robust
Technology
Increasingly looking to harness technology that drives efficiency, leverages data, creates functional sophistication in Compliance processes.
S E R V I C E S
Services We Provide

Regulatory Guidance
Insightful guidance and interpretation
of regulations...
Regulatory Guidance
⦁ Insightful guidance and interpretation of regulations.
⦁ Holistic regulatory change management solution that will entail-
⦁ detailed guidance on regulatory changes and expectations there to
⦁ bespoke and practical advice on required procedural and control changes
⦁ Tracking of potential and prospective regulatory changes and facilitating regulatory interface and advocacy.

Compliance Support
We have created a platform to provide a one-stop, scalable, cost-efficient
Compliance Support
We have created a platform to provide a one-stop, scalable, cost-efficient and best in class alternative solution to in-house Compliance and AML activities that tend to be operational and administrative in nature. This is intended to take out and over the burden of process that is increasingly diverting attention and consuming bandwidth within Compliance and execute with excellence and efficiency even while enhancing the accountability and credibility of the responsible Compliance function.

Compliance Framework
Design and implementation of regulatory compliance...
Compliance Framework
⦁ Design and implementation of a regulatory compliance framework that would include
⦁ Drafting and maintaining relevant policies
⦁ Designing controls and
⦁ Reviewing/assessing their efficacy
⦁ Designing and implementing Framework to manage risks around
⦁ Suitability and Appropriateness (for Derivatives, Retail Structured Products, and Wealth Management Products).
⦁ Management of Business and Personal Conflicts within the Organization


Compliance Finishing School
The changing compliance landscape places an increasing and significant demands...
Compliance Finishing School
The changing compliance landscape places an increasing and significant demand on talents and resources with specialised knowledge and skill sets.. Filling this gap we run a Finishing School (soon to be accredited) to equip freshers and career bankers to function and develop as Compliance professionals, complete with specialized knowledge (regulatory compliance, AML/AFC), critical risk assessment and review skills and soft skills required to interface with their ecosystem they support and service.



Compliance Technology & Tools
A holistic guidance cum workflow tool comprehensively covering the increasingly complex...
Compliance Technology & Tools
A holistic guidance cum workflow tool comprehensively covering the increasingly complex Compliance process/lifecycle. The idea is to develop a solutions platform that will work across different regulatory requirements that requires ensuring compliance framework, controls, risk management, assurance, reviews and reporting.


Compliance training support
We design, deliver and administer a structured, effective and ongoing...
Compliance training support
We design, deliver and administer a structured, effective, and ongoing training programs/curriculum for banks customized and tailored to their needs and requirements. This is intended to help banks meet and comply with mandatory training requirements and the regulatory expectations around the role of learning and development in a bank's risk management process.


Governance
Assistance in creating regulatory aligned structures and entities for launching new
Governance
⦁ Assistance in creating regulatory aligned structures and entities for launching new businesses and products
⦁ Assistance in ensuring necessary regulatory authorizations and licenses
⦁ Review and help to put in place adequate governance frameworks around risk management and control processes.
Engagements could be structured as required on an ongoing or specific advisory basis or on time-bound/result oriented review/assurance assignments or a retainer ship basis for any or combination of the services.
Managing Compliance Through Technology
Compliance Matters, in association with KGISL (a global technology company offering information technology and business consulting services) is making life easier for banks and their compliance officers while navigating and complying with increasingly complex regulatory requirements and expectations. Our proven approach and the combined extensive industry experience bring to you, an innovative, sustainable, and cost-efficient approach to manage and mitigate compliance risks. Our cutting-edge, technology-driven solution helps in managing complex compliance processes end to end, it is also a value-added service providing insightful and detailed guidance on ongoing changes to regulatory requirements and expectations.


A Compliance Management System
A cloud based digital application designed to provide automated workflows and enriched information feeds that will help our clients to stay abreast of regulatory changes, understand and implement the new/changing requirements in a timely and efficient manner, create a comprehensive and user friendly repository of regulatory requirements and communications, conduct ongoing monitoring, testing and assurance over the compliance relevant controls, assess on an ongoing basis the compliance risk trends and keep management and regulators updated through management information dashboards and need based reporting utility. It is currently configured for the universe of regulations in India that impact banks and financial institutions.


What Banks/Financial Institutions get from the service


Improved effectiveness and reduced cost of compliance


Better managed regulatory interface, reviews and remediation


Staying ahead of emerging compliance related risks


Effective compliance controls implementation


Substantial reduction in the manual/administrative overload


Improved assurance over effectiveness of the control framework
A customizable Sanctions and AML software designed by Intellewings, in collaboration with Compliance Matters to simplify regulatory compliance in banks. It facilitates seamless onboarding and periodical due diligence of clients via compliant online processes and provides AI-powered, integrated solutions for Sanctions (including PEP) screening, Transaction monitoring, and Case Management. Serves as a holistic yet fully compliant AML operations support model that combines technology and process/operations by leveraging Artificial Intelligence and Machine Learning.


W E B I N A R
Webinar
Access the on-demand webinar to know more about:
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B L O G S
Blogs
Scale Based Regulation for NBFCs – Challenges and Opportunities
Are NBFCs equipped for transition without disruption? The rapid growth in the NBFC sector, its interconnectedness with the financial system, and consequent systemic impact have …
External/Independent Review of Compliance Function in Banks
Two recent regulatory initiatives have advocated/mandated an important and internationally established governance practice of subjecting the critical Compliance Function in banks to an external/ independent …
Regulatory Compliance – Time to be smart about it?
Re-emerging from the gloomy banking and financial crisis of 2008, a lot changed across the world (as it will again in the aftermath of the …
Newsletters
Newsletters
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January 2023
December 2022
November 2022
A B O U T
About Us
Compliance Matters is an Independent Consultancy/Advisory on regulatory compliance to Banks and other regulated Financial Institutions. Led by Arun Kamath, we are a group of Senior Compliance Professionals combining several decades of experience and expertise around financial service regulations and related compliance frameworks.
We engage with Banks/Financial Institutions and with Digital/Fintech innovators, to help them embrace and navigate emerging and, increasingly complex regulations as well as design and implement adherence frameworks and systems. We provide a whole host of support services that could range from sound and insightful advice, cutting edge compliance tools, and reg-tech solutions to assurance and support services that lend scale to in-house compliance in all areas of designing, assessing and reviewing governance and control frameworks.
In collaboration with our Technology Partners, we aim to support regulated Financial Institutions in leveraging technology for simplifying compliance. Recognising that compliance is changing in more ways than one, we have already been supporting numerous Banks and NBFCs on regulatory matters.
Partners


Arun Kamath
Arun Kamath, an accountant by training and an ex-banking regulator (~10 years with the Reserve Bank of India in various regulatory and supervisory roles), had spent the next two decades and more in two international banks in various country, regional and global Compliance roles.
As part of the Global Compliance Management of Deutsche Bank (until 2018) heading a global team, advising and helping management of risks around regulatory adherence and business conduct in the transaction/commercial banking business. Before that, as Asia Pacific Compliance Leader…
Arun Kamath
Arun Kamath, an accountant by training and an ex-banking regulator (~10 years with the Reserve Bank of India in various regulatory and supervisory roles), had spent the next two decades and more in two international banks in various country, regional and global Compliance roles.
As part of the Global Compliance Management of Deutsche Bank (until 2018) heading a global team, advising and helping management of risks around regulatory adherence and business conduct in the transaction/commercial banking business. Before that, as Asia Pacific Compliance Leader, his mandate included country and regional compliance roles covering South/South East Asia countries and leading the Compliance function for the Asia Pacific Transaction and Retail banking businesses. Previously, he was at American Express Bank helping set up and run an assurance program over the controls and compliance framework of the then bank in India.
His constant focus on aligning with the regulatory intent and expectations helped franchises under his watch achieve sustained success without major regulatory mishaps. As an early pioneer, he had the opportunity to mentor and build over time, a vast and seasoned compliance fraternity in India. Through his professional journey, he was also influential (including through formal participation in the regulatory working group) in shaping the regulatory approach towards compliance framework in banks.


Theresa Karunakaran
Theresa Karunakaran has a rich experience of over 36 years with the Reserve Bank of India and has worked in key areas specialising in regulation and supervision of banks, foreign exchange, and non-banking finance companies.
She was a key member of the First International Team constituted by the Financial Stability Board to assess Bank of Mauritius compliance with Basel Core Principles. She has collaborated extensively nationally and internationally as a member of policy Working Groups in the RBI and as an RBI Representative in interactions with the Ministry of Finance and World Bank. Upon retiring as General Manager of RBI…
Theresa Karunakaran
Theresa Karunakaran has a rich experience of over 36 years with the Reserve Bank of India and has worked in key areas specialising in regulation and supervision of banks, foreign exchange, and non-banking finance companies. She was a key member of the First International Team constituted by the Financial Stability Board to assess Bank of Mauritius compliance with Basel Core Principles. She has collaborated extensively nationally and internationally as a member of policy Working Groups in the RBI and as an RBI Representative in interactions with the Ministry of Finance and World Bank. Upon retiring as General Manager of RBI, she subsequently managed regulatory affairs as an Adviser for Regulatory Matters at Axis Bank till 2015 and since, served as Director of Regulatory Affairs at Deutsche Bank AG India till 2020.
She is a Key Resource Person for FCAP Certification Programme in AML for bankers/auditors from Asia and has also authored a white paper on Risk Based Supervision which was published by Fintelekt. She was a Distinguished Speaker at Amity’s ICEIL 2019.
She holds a Postgraduate Degree in Economics from the University of Kerala, PGDM, and is a Certificated Associate of the Indian Institute of Bankers.


Mangesh Jadhav
A veteran banker with an expertise in matters pertaining to Regulatory Compliance, Financial Crime and Governance built up over 25 years across various banks including Citibank, Westpac, Deutsche Bank, Standard Chartered, ICICI and MUFG, supporting the Corporate and Retail Banking.
He counts among his accomplishments the integral role he played in strengthening the Compliance and Governance standards within the Bank as the Head of Regulatory and Financial Crimes Compliance and Board Member at Westpac Banking Corporation in India. As Vice President at Deutsche Bank…
Mangesh Jadhav
A veteran banker with an expertise in matters pertaining to Regulatory Compliance, Financial Crime and Governance built up over 25 years across various banks including Citibank, Westpac, Deutsche Bank, Standard Chartered, ICICI and MUFG, supporting the Corporate and Retail Banking.
He counts among his accomplishments the integral role he played in strengthening the Compliance and Governance standards within the Bank as the Head of Regulatory and Financial Crimes Compliance and Board Member at Westpac Banking Corporation in India. As Vice President at Deutsche Bank, he set up a centralized Compliance Hub for the bank in Germany, a first of its kind and was also the driving force behind the implementation of Risk Based Supervision framework. His all round experience of banking activities coupled with the extensive regulatory interface he has managed puts him in a unique position to advise on effectively responding to ongoing regulatory challenges and expectations.
He is a Certified Associate of Indian Institute of Bankers (CAIIB) and a Masters in Financial Management (MFM).


Veena Gadia
A Chartered Accountant with over 25 years of experience in banking and finance, Veena is a seasoned professional in regulatory compliance, internal control, and governance. Recently, as Executive Director and Head of Compliance for Nomura Group in India, and as a part of the Executive Committee, Veena has developed and implemented robust compliance programs, ensuring that her organization meets all regulatory requirements. Veena’s work with Nomura and previously with other leading financial institutions, including Commerzbank AG, Bank of America, and Deutsche Bank, has provided her with a wide-ranging understanding of the regulatory landscape around the financial/securities markets…
Veena Gadia
A Chartered Accountant with over 25 years of experience in banking and finance, Veena is a seasoned professional in regulatory compliance, internal control, and governance. Recently, as Executive Director and Head of Compliance for Nomura Group in India, and as a part of the Executive Committee, Veena has developed and implemented robust compliance programs, ensuring that her organization meets all regulatory requirements. Veena's work with Nomura and previously with other leading financial institutions, including Commerzbank AG, Bank of America, and Deutsche Bank, has provided her with a wide-ranging understanding of the regulatory landscape around the financial/securities markets.
She has worked extensively on compliance issues related to capital markets trading, research, sales and marketing, anti- money laundering, compliance oversight on offshoring operations, and more. Her expertise in compliance, risk management, and internal control has enabled her to help financial institutions navigate complex regulatory requirements, prevent costly penalties, and safeguard against reputation risks. Veena's long-standing relationships across the BFSI industry, her deep understanding of regulatory expectations/obligations, and her leadership in developing and implementing effective compliance programs will therefore be invaluable to our clients.
Our Book of Work
Technology Partners
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