Forex Compliance Officer

Role: Compliance Officer Niyo Forex

Location: GIFT City, Gandhinagar

Department: Compliance & Risk

Employment Type: Full-Time

Company: Kanji Forex Pvt. Ltd. (A fully owned subsidiary of Finnew Solutions Pvt. Ltd)

Entity Type: Authorised Dealer Category II (IFSC Unit)

Company Website: www.goniyo.com

Brief Description of Company: Niyo was founded in 2015 with the vision of changing the way Indians approach their finances - no matter where they work, what they earn, or how tech-savvy they are. To date, weve raised $179.3 Million in funding and have maintained a sharp focus on identifying customers banking pain points and crafting solutions that improve their experience.

Niyo Forex: Buy or sell all Major Currencies of the world at attractive rates and avail of our Doorstep service and Experience Value. You can also Remit Funds abroad for various purposes permitted by the Reserve Bank of India under the AD II Licence issued to us via a single web/app

window.

About the role:

We are looking for an experienced Compliance professional to manage regulatory compliance for our AD Category II operations at GIFT City (IFSC). The role will focus on IFSCA and FEMA compliance, AML/CFT controls, LRS and remittance reporting, and regulatory liaison, ensuring smooth and compliant forex operations.

Key Responsibilities

1.Regulatory & IFSCA Compliance

• Ensure compliance with IFSCA regulations, circulars, and directions applicable to AD Category II entities.
• Track regulatory updates from IFSCA, RBI (as applicable), and FEMA and implement changes in processes.
• Act as a point of contact for IFSCA inspections, audits, and regulatory correspondence.
• Prepare and submit periodic regulatory returns and disclosures to IFSCA.

2.FEMA, Forex & LRS Compliance

• Oversee compliance with FEMA provisions relating to current account transactions and permissible forex activities.
• Monitor Liberalised Remittance Scheme (LRS) transactions, limits, and utilisation checks.
• Ensure timely and accurate LRS and remittance reporting (including system/API-based reporting, where applicable).
• Coordinate with AD Category I banks and internal teams for reconciliation and confirmations.

3.AML / CFT & Financial Crime

• Implement and monitor AML/CFT framework as per IFSCA, PMLA, and FATF standards.
• Review KYC, CDD, EDD for retail and corporate forex customers.
• Oversee sanctions screening, transaction monitoring, and review alerts.
• Ensure timely filing of STRs/CTRs and maintenance of audit trails.

4.Policies, Controls & Governance

• Draft and update Forex, AML, KYC, LRS, and Compliance SOPs specific to AD Category II operations.
• Conduct periodic compliance testing and internal reviews.
• Identify gaps, recommend corrective actions, and ensure closure.

5.Business & Advisory Support

• Provide compliance advisory to business teams on new forex products, digital remittance journeys, and partnerships.
• Support onboarding of agents, distributors, fintech partners, and vendors.
• Balance regulatory requirements with customer experience and operational efficiency.

Desired Candidate Profile

• Strong knowledge of AD Category II regulations, FEMA, and forex operations
• Hands-on experience with LRS, outward remittances, and cross-border payments
• Working knowledge of IFSCA IFSC framework
• Comfortable dealing with regulators and auditors
• Strong documentation and stakeholder management skills

Qualifications & Experience

• Qualified CA / CS / MBA (Finance) / LLB
• AML certifications (ACAMS / ICA) preferred
• At least 3 years of compliance experience in AD Category II / Forex / Banking / Fintech
• Prior GIFT City / IFSC exposure is an advantage.

Values:

We live by these core values at Niyo:

• Bias For Action
• Customer Focus
• Innovation
• Integrity
• Ownership
• Teamwork