Driven by a deep commitment to ethical behaviour and organisational integrity, Chief Compliance Officer Yashwant Singh has built a distinguished career in compliance. With a keen eye for detail and a passion for navigating the complexities of laws and regulations, he plays a pivotal role in ensuring that business operations align with both internal and external standards. As a compliance leader, Singh oversees the development and implementation of policies, mitigates risk, and fosters a culture of compliance that supports the organisation’s strategic goals.
In an interview with Business Frontier, Singh highlights how companies can overcome challenges through continuous learning and proactive strategies and stay ahead of regulatory changes to handle the ever-evolving landscape of global compliance.
Q. What inspired you to pursue a career in compliance?
My passion for promoting ethical behaviour and ensuring that organisations operate with integrity is the driving force behind my career in compliance. I am dedicated to aligning business activities and policies with internal and external regulations and ethical protocols, as it allows me to make a meaningful difference. My fascination with the intricacies of laws and regulations is underlined by a deep desire to help organisations navigate these complexities. I also believe that factors like a meticulous attitude to work, with a focus on accuracy and attention to detail are crucial for career advancement. All this combined inspired me to pursue a career in compliance, positively impacting organisations.
Q. Can you give an overview of your primary responsibilities? How do these align with the organisation’s overall strategy?
Some of my primary responsibilities includeensuring that operations and business transactions of the organisation are conducted in compliance with the relevant legal compliance requirements; managing and supervising the compliance function of the organisation; drafting and revising organisational policies relevant to compliance with regulatory framework; handling investor grievances and coordinating with external and internal auditors and the inspection team.
These help the organisation align with its goal of minimising reputational and financial risk, and foster a culture of compliance, supporting the organisation’s values and ethics. They also ensure adherence to relevant laws and regulations, maintaining the organisation’s licenses and streamlining processes and procedures, reducing the risk of non-compliance; in addition to building trust with stakeholders and identifying areas for improvement.
Q. What strategies do you use to train and develop your team?
Open and honest communication is the foundation of a successful team. I communicate and train with them regularly, which helps me build the interpersonal skills necessary for effective teamwork and embrace improvements in their experience and capabilities.
Sharing ideas, points of view, information, and expertise helps keep them informed and, in the loop, to handle the evolving landscape. I always take feedback, brainstorm ideas, and listen to my team members. Thus, I develop an atmosphere where everyone feels comfortable learning and developing their capabilities.
Q. How do you stay ahead of regulatory changes? What processes do you have in place to adapt quickly?
I am committed to staying ahead of legal and compliance changes by continuously tracking updates from regulatory bodies, industry associations, and esteemed sources. Further, I also engage with peers, attend conferences, and network with industry groups to ensure that I am always well-informed.
Q. What are the key ethical challenges facing companies today, and how can they be addressed through compliance initiatives?
Companies face key ethical challenges nowadays, such as ensuring adequate and effective compliance programmes, promoting open communication, and taking responsibility for action. These are just a few examples of the ethical challenges that companies are grappling with currently.
These can be addressed through regularly evaluating, monitoring and updating compliance programme effectiveness; and publishing routine reports on company actions, progress and challenges. By addressing these ethical challenges with the above-mentioned strategies through comprehensive compliance initiatives, companies can promote a culture of integrity, build trust with stakeholders, and minimize reputational risk.
Q. How do you see the industry evolving with global regulatory changes? Considering the global regulatory changes, regulations will demand more disclosure thereby driving transparency in financial reporting and corporate governance. The international regulatory collaboration will enhance consistency and coordination across markets. Thus, companies will need to navigate complex and evolving regulatory requirements with care.
