Catalyst Trusteeship Limited brings to you our interaction with Ms Vallari Gupte: CS/ Compliance Officer - Ceat Ltd.

Being a CS & handling Compliance for CEAT, your role goes hand in hand with the regulator and regulatory framework, what are your thoughts on the recent framework brought by the regulator?

The intent of the Regulators is certainly good in bringing about better governance and transparency for all the stakeholders. The speed at which they are being implemented is leaving very little time for the compliance officers to understand, interpret, coordinate and implement for ultimate compliance as per timelines. There needs to be a robust system in the organization to support the compliance officers towards all such critical and timely compliances, apart from managing the regular compliances and routine work. Clarity on the expectations of the Regulators and clear identification of compliance requirements would be helpful.

Being a compliance officer how do you manage to cope and compile with the rapidly evolving regulations? What piece of advice would you give to the young generation intending a stable career in compliance?

Honestly, it is becoming challenging day by day to keep track of these new changes and rapidly evolving regulations. We can certainly work on interpretation and implementation, but the speed at which these changes come up is a bit challenging to cope with. Fortunately, the info-web and technology are available to our rescue, but at times feels like there should be some hi-tech memory storage in our brains which can help in proper storage and timely retrieval of information.

With time I think we are all evolving, I studied in the era when there was not much of the advent of the internet and search engines. But today we use web-based information extensively, including the website of the Regulators.

For the young generation, I would only like to state that read the act, rules, and regulations first and frame your interpretation and try to connect with others and debate. This will help sharpen your focus on interpretation as well as help you understand practical views and different perspectives for implementation.

Having an extensive experience of 20 years, what is your secret to juggling between work, hobby, and other roles in your life? What are some of the challenges faced and what motivated you to keep going?

Well, I believe in enjoying everything that I do… whether work, job or fun. So, whenever I get time I enjoy my hobbies or give more time to my family. They also understand this and support it. The most challenging time for me is usually the annual report preparation work where I literally didn’t see my family for at least about 2-3 weeks as I have to focus on the annual report, but family support is essential to keep one going through such tough times. Once I had been on a holiday while preparing for the NCD issuance. I enjoyed being with the family but also completed my work when everyone was asleep...thus, I just try to give my best in the situation I am in.

You have recently issued NCDs under the new regime of compliance. What have been your experience through the NCD issuance process and any challenges or learnings you had?

As an Issuer, CEAT issued its NCDs in 2020 and also recently in 2022. There were a lot of changes in the compliance process and requirements. A major shift in the compliance timelines was observed. Indeed, it was a fast-paced event with each day and moment counting for some or the other activity, including the final listing process to be completed in coordination with the relevant intermediaries. We learnt a lot in the process and were happy to have support from Catalyst to ensure timely filings and listing of NCDs. This will also help us prepare better for the future.

During the beginning of the new FY23-24 the Market regulator came up with the Operations Circular for Debenture Trustee, what is your opinion on the same from the compliance point of view?

I think the idea of an operational circular is good, as it brings all the relevant compliances in one place rather than looking at several regulations at a time. If the formats are specified, it will solely help the issuers and debenture trustees to align their respective compliance areas. The Regulators however need to look at some duplication of reporting between the issuers and debenture trustees and also resolve the exact requirements regarding various certifications. This is an area I think many of the compliance officers may be struggling with.

Many thanks to Ms. Vallari for taking her time out and accepting this interaction opportunity, by sharing her insightful thoughts with our readers. Her story inspires many souls and her viewpoint of life of "100% dedication towards each of your roles and giving your best in everything you do" is a key takeaway from this interview.