Devanshi is an expert in the roles and responsibilities of a Chief Compliance Officer and has in-depth knowledge of OSC requirements. She helps firms establish compliance and audit activities that are aligned with best practices. Devanshi’s experience was obtained at India’s leading banks (ICICI Bank & INDUSIND Bank), a Canadian Private Equity firm and a Canadian Exempt Market Dealer. Her multi-faceted compliance background and passion for challenging assignments has been instrumental in making her best-in-class.
Devanshi is a leading compliance expert who has in depth knowledge of OSC compliance covering KYC ( Know Your Client), KYP ( Know Your Product), suitability assessments, working capital calculations, AML / ATF filings, registration of dealing representatives, outside business activities on NRD ( National Registration Database), monitoring social media and other NI 31-103 guidelines.
PROFESSIONAL EXPERIENCE
Chief Compliance Officer, FOREST GATE FINANCIAL Apr 19 – Dec 19 Forest Gate Financial provides unique real estate investment options by assisting permitted & accredited clients in securing premier opportunities & providing access to strategic capital for financial optimisation for renowned builders. • Drafted policies and procedures manual, policies for dealing with vulnerable or older clients, guidelines for KYC, AML, KYP (Know Your Product) and suitability assessments. • Updated CEO & board with emerging regulatory compliance requirements & their application. • Developed annual compliance work plan with timelines for periodic review. • Presented clear and concise compliance reports for senior management. • Educated and trained personnel about compliance procedures and controls outlined in NI 31-103. Chief Compliance Officer (registered in all provinces), R2 INVESTMENTS Oct 17 – Feb 19 R2 is Canada’s national private equity firm (EMD), a technology driven platform that provides qualified individuals & institutions access to fully underwritten commercial real estate opportunities & transacted over $1 billion worth of debt transactions. • Established and maintained policies and procedures for assessing compliance by the firm & individuals acting on its behalf, with securities legislation. • Ensured the necessary filings on NRD with the regulators are done accurately and on a timely basis – both firm and individual filings. • Performed KYP & due diligence along with management, underwriter and sales managers. • Assessed KYC & reviewed suitability assessments of each investor prior to sale completion. • Approved all trade activities & file Trade Blotter, Trade Confirmation Record Sheets, Account statements. • Maintained books of records for the firm including arranging referral partnerships, agency agreements. • Critically identified and responded to any conflicts of interest that exist or may arise. • Monitored and assessed compliance and controlled risks/deviations if any by the firm and employees • Executed AML review and filed monthly AML/ATF reports at OSC. • Provided strategic direction & compliance related initiatives to the board with regards to OSC expectations. • Conducted monthly trainings for DR’s on various topics like PPM, AML, project updates & CSA staff notices. • Prepared 31-103F1 (excess working capital) & all financial filings post monthly a/c reconciliations. • Appraised all digital marketing, social platforms, portal to be compliant with NI 81-720. • Executed NI 31-103, NI 45-108, NI 45-106, CSA staff notices (31-336,31-325,31-505,31-345,33-109). • Prepared annual CCO report and abreasted the management with compliance related initiatives. • Direct interaction with CSA / OSC staff helped me complete OSC audit successfully. • Attended industry seminars - PCMA, OSC events to record changing regulatory guidelines & emerging trends.
Investment Counsellor Asst. Vice President, INDUSIND BANK May 15 - Sept 17 IndusInd Bank is a leading Indian multi-product bank specializing in private and alternative banking and has over 1,000 branches, and 2,000 ATMs spread across 625 geographical locations in India. It also has representative offices in London, Dubai and Abu Dhabi. • Trained field investment counsellors on KYP matters related to the various investments across industry. • Contributed to Continued Education Programs for compliance similar to IIROC.
• Supervised counsellors to create MF portfolios basis bank’s policies similar to Bulletin # 0713-P MFDA. • Worked on Compliance Priority Reports (IIROC equivalent) for promoting industry’s best practices. • Trained the team on doing suitability analysis of vulnerable clients to advise post sensing their risk appetite • Handled customer complaints in conjunction with the Branch managers & bank’s framework similar to Rule 2500B –IIROC. • Demonstrated abilities to cement healthy client relations and liaised with regulations similar to IIROC & CSA. • Involved in hiring and on boarding process for sales team, compliance analysts and other support functions. • Licensed with AMFI (Association of Mutual Funds of India) – MFDA equivalency. • Also, licensed with IRDA (Regulatory & Development Authority of India) for insurance advisory. Branch Manager, ICICI BANK May 14 – May 15 ICICI Bank (Industrial Credit and Investment Corporation of India) is a multinational bank, third largest in India in terms of assets with a vast network of 4,882 branches and 14,367 ATMs in India and a presence in 17 countries including Canada. • Successfully completed several branch statutory audits and regulatory inspections. • Executed Bank’s AML/ATF policies along with transaction surveillance similar to FINTRAC. • Ensured Compliance and execution of sanction terms and conditions in the case of new advances. • Comprehensively used Tableau to ascertain variances, scenario analysis and underwriting projects. • Built a culture of compliance by ethical sales in line with SEBI (IIROC equivalency), adherence to guidelines of RBI (OSFI equivalency). • Implemented regulatory implications of new product launches and service extensions. • Supported staff for sales of bank products, new business, operations, customer service and worked with regulatory compliance, internal policies, and procedural guidelines by RBI (Reserve bank of India; equivalent of Central Bank of Canada). • Maintained No.1 rank for the branch for each quarter’s MF asset under management growth in the province. Wealth Management Financial Advisor, ICICI BANK Jun 10 – May 14 • Awarded Best Relationship Manager Award among 700 RMs across country in 2012 & 2013. • Strong investor relations & communications helped me achieve a book size $ 8 million. • Met accredited clients, completed their suitability assessments /KYC (risk, lifestyle profiling & financials). • Advised clients on upcoming investment opportunities like mutual funds, insurance, real estate, portfolio management services and private equity. • Actively involved in customer service to learn complex transactions (SWIFT wire payments, deceased case settlement, credit approvals).
ACHIEVEMENTS . Panjab University Gold Medal in B.com (Hons) Business Economics in 2007-2008. . Awarded College Colour and Certificate of Distinction in 2006-07 & 2005-06.
ACADEMIC QUALIFICATIONS • CPH (Conduct & Practices Handbook) Course 2019 • P.D.O (Partners Directors and Senior Officers) Course 2018 • C.S.C. (Canadian Securities) Course 2017 • MBA (Marketing) from Institute of Chartered Financial Analysts 2010 • Bachelor’s in commerce (Honours) from Panjab University 2008
