Senior Manager - Compliance (CAT II AIF)

Nuvama Asset Management; Mumbai; On-site; INR 3,500,000 - 5,500,000; Full time

Job summary

Nuvama Asset Management in Mumbai is seeking an experienced legal and compliance professional to manage regulatory requirements for AIFs, PMS and real estate/private markets investments. You will provide practical guidance while safeguarding investor interests and ensuring timely filings.

Responsibilities include negotiating fund docs, monitoring governance, and coordinating with internal teams and external counsel to maintain robust compliance and risk controls.

Qualifications

• 8-10 years of asset management legal and compliance experience.
• CS and LL.B. preferred; strong legal qualifications may be considered.
• Hands-on experience in transaction documentation, regulatory interpretation, compliance monitoring, audits/inspections and regulator-facing submissions.

Responsibilities

• Ensure compliance with SEBI AIF and Portfolio Managers frameworks, circulars, and guidelines.
• Interpret regulatory developments, assess impact, and drive closure with owners and timelines.
• Maintain regulatory calendars, checklists, disclosures, and governance reporting.
• Advise on fund structure, co-investments, and conflicts of interest; manage risk.
• Draft and review fund/transaction documents and coordinate with external counsel.

Skills

Regulatory compliance

SEBI AIF framework

Governance

Contract negotiation

Education

Company Secretary (CS)

LL.B.

Tools

MS Word

MS Excel

PowerPoint

Job description

• Support and independently manage the legal and compliance framework for Alternative Investment Funds (AIFs), co-investment portfolio management services and other asset management activities, with particular focus on Category II AIFs and real estate/private market investments.
• Act as a business-enabling compliance partner across the fund lifecycle, from product structuring, fundraising and onboarding to investment execution, portfolio monitoring, investor reporting, exits and fund closure.
• Provide practical legal and regulatory advice while protecting investor interests, maintaining robust governance and ensuring timely regulatory compliance.

Exp: 8 to 10 years

Qualification : CS (Fully qualified)

KEY AREAS OF RESPONSIBILITY

Regulatory Compliance & Advisory

• Ensure compliance with applicable SEBI AIF and Portfolio Managers regulatory frameworks, circulars, master circulars, guidelines and conditions of registration.
• Interpret regulatory developments, assess business impact, prepare implementation notes and drive closure of resulting actions with clear ownership and timelines.
• Maintain regulatory calendars, compliance checklists and evidence repositories; oversee periodic filings, disclosures, certifications and regulatory reporting.
• Advise on fund structure, investment conditions, concentration and exposure limits, sponsor/manager obligations, co-investment arrangements and conflicts of interest.

Legal Review & Transaction Support

• Draft, review and negotiate fund and transaction documentation, including private placement memoranda, contribution agreements, investment management/advisory agreements, side letters, co-investment agreements and investor communications.
• Review transaction documents including term sheets, share purchase/subscription agreements, shareholders agreements, debenture documents, security documents, escrow arrangements and closing deliverables.
• Assess legal and regulatory risks in real estate and private market transactions and coordinate with external counsel on title, corporate, financing and other due diligence workstreams.
• Ensure that investment committee and governance materials accurately capture conditions precedent, conflicts, deviations, legal risks and compliance observations.

Fund Operations, Governance & Investor Protection

• Oversee investor onboarding and ongoing KYC/AML, beneficial ownership, sanctions/PEP screening and related documentation in coordination with operations and service providers.
• Review drawdowns, distributions, fees and expenses, valuation governance, investor reporting, material disclosures and grievance handling from a compliance perspective.
• Monitor related-party transactions, cross-fund allocations, co-investments, warehousing, side-letter obligations, personal dealing and management of confidential information.
• Support governance forums, maintain policy and committee frameworks, and ensure proper documentation of approvals, exceptions and remediation decisions.

Monitoring, Assurance & Regulatory Engagement

• Perform risk-based compliance monitoring and thematic reviews across investment, dealing, operations, marketing, investor servicing and outsourcing activities.
• Independently manage internal, statutory, trustee/custodian and regulatory audits or inspections, including information collation, response drafting, remediation and closure tracking.
• Engage with SEBI, auditors, trustees, custodians, fund administrators, consultants and legal counsel; prepare clear and defensible submissions and correspondence.
• Investigate potential breaches, escalation material matters promptly, support root-cause analysis and ensure sustainable corrective and preventive actions.

Business Initiatives & Compliance Culture

• Provide legal and compliance support for new funds/strategies, new licences, acquisitions, restructuring and new business set-up.
• Develop and update policies, standard operating procedures, templates, controls and training material aligned to regulatory requirements and business risks.
• Conduct targeted training for investment, dealing, operations, sales and senior management teams and promote proactive consultation with Compliance.
• Use compliance data, trackers and management information to identify emerging risks, overdue actions and control gaps.

QUALIFICATION & EXPERIENCE

• 8-10 years of relevant experience in asset management legal and compliance, preferably covering Category II AIFs, private equity/real estate funds and PMS/co-investment structures.
• Company Secretary and LL.B. preferred. Candidates with a strong legal qualification and demonstrable asset management compliance experience may also be considered.
• Hands-on experience in transaction documentation, regulatory interpretation, compliance monitoring, audits/inspections and regulator-facing submissions.
• Experience working with investment teams, institutional investors, trustees, custodians, fund administrators, auditors and external counsel.

CORE TECHNICAL SKILLS

• Strong command of the SEBI framework applicable to AIFs and Portfolio Managers, including fund governance, investment conditions, disclosures, reporting and investor protection requirements.
• Working knowledge of securities laws and allied frameworks relevant to asset management, including AML/KYC, beneficial ownership, insider trading and confidential-information controls, corporate law, contracts and foreign investment considerations.
• Ability to analyse complex fund and transaction structures, identify legal/regulatory issues and convert them into practical controls and documented positions.
• Excellent legal drafting and negotiation skills, with precision in regulatory submissions, board/committee notes, policies, agreements and investor communications.
• Risk-based compliance monitoring, control testing, breach management, root-cause analysis and remediation tracking.
• Strong proficiency in Microsoft Word, Excel and PowerPoint; ability to maintain structured trackers, dashboards and management information.

BEHAVIOURAL COMPETENCIES

• High integrity, sound judgement and the confidence to provide independent challenge while remaining solution-oriented.
• Ability to manage multiple workstreams independently with minimal supervision and deliver accurately under tight timelines.
• Strong stakeholder management, influencing and interpersonal skills across investment, business, operations and senior leadership teams.
• Commercial awareness and a pragmatic approach that balances regulatory defensibility, investor protection and business objectives.
• Attention to detail, ownership mindset and willingness to escape issues appropriately.
• Ability to communicate complex legal and regulatory matters in clear, concise and decision-useful language.

KEY SUCCESS MEASURES

• Timely and accurate regulatory filings, disclosures and implementation of regulatory changes.
• Quality and turnaround time of legal/compliance review and business advisory.
• Effective identification, escalation and closure of compliance risks, breaches, audit findings and inspection observations.
• Robust documentation, governance discipline and demonstrable effectiveness of the compliance monitoring programme.
• Constructive stakeholder feedback and consistent contribution to compliant business growth.