Srikanth G Menon’s path to becoming a Company Secretary was anything but traditional. Struggling academically in his early years, Srikanth found his passion in commerce and was inspired by his mother to pursue a career as a Company Secretary. Starting as a compliance officer at Geo VPL Finance, he steadily rose through the ranks, eventually joining Muthoot Capital Services, a highly regulated NBFC. Srikanth’s dedication, continuous learning, and strategic approach to compliance have made him a respected leader in the field. His story is a testament to the power of perseverance and passion in achieving professional success.

R. Chandra: Srikanth, can you tell us a bit about your journey to becoming a Company Secretary?

Srikanth G Menon: Absolutely. My path to becoming a Company Secretary was quite unconventional.  Academically, I wasn’t the brightest student and up until 10th grade, I struggled with science and math, but everything changed when I switched to commerce in 11th grade, which I found more engaging. My mother introduced me to the idea of becoming a Company Secretary, and she guided me through the process. Initially, it was tough, but it soon became a passion for me. “Clearing the Company Secretary exam was a significant achievement, akin to clearing the IAS exam for my family and me”, -he laughs while sharing this.

R. Chandra: It’s inspiring to hear how your passion drove you. How did your career progress from there?

Srikanth G Menon: Before I even qualified, I got an opportunity with Geo VPL Finance Private Limited, a non-banking financial company (NBFC). I joined as a compliance officer, and eventually, they needed a Company Secretary, so I took on that role as well. Working in a smaller company allowed me to understand the entire landscape of the industry. I interacted with the Reserve Bank of India (RBI) and handled various compliance aspects, which built a solid foundation for my career.

R. Chandra: That sounds like a comprehensive experience. What motivated you to move to your current role at Muthoot Capital Services?

Srikanth G Menon: MCSL is a deposit taking NBFC and the regulations are almost akin to that of a Bank and it has always been my dream to be heading the Secretarial and Compliance function in such an entity for the sheer learning and exposure that it would provide to me as a professional. It’s part of the Muthoot Pappachan Group and is listed on both NSE and BSE. My goal was always to join a company of such stature. The journey wasn’t easy, but I kept enhancing my profile to stand out. Over the years, I’ve been involved in several significant projects, including public issues of debt securities and RBI inspections, which have prepared me well for this role.

R. Chandra: With a decade of experience, what advice would you give to the youth aspiring to become Company Secretary?

Srikanth G Menon: Passion is crucial. For both Chartered Accountants (CA) and Company Secretary (CS), the key is continuous learning and staying updated with all regulations. Practical scenarios often differ from theoretical knowledge, so one must be prepared for real-life challenges. It’s essential to love what you do and treat each day as a new challenge, much like playing a game of chess.

R. Chandra: Can you describe the key responsibilities and challenges in your current role as Chief Compliance Officer?

Srikanth G Menon: Listed NBFCs (Non-Banking Financial Companies) are subject to extensive regulatory oversight. Compliance starts from the loan agreements, ensuring everything is clearly communicated to customers, even in their native languages. We have around more than 1,500 compliance points from the RBI alone. The key is to build a robust system where each department has a compliance function. Delegation and teamwork are vital, as is staying updated with daily regulatory changes.

R. Chandra: What strategies have you implemented to ensure effective compliance and risk management?

Srikanth G Menon: We’ve implemented software to track all regulations and divided them among departments to manage compliance effectively. Regular updates and amendments are tracked meticulously, and we emphasize building a strong team that can operate smoothly even in my absence. Regular checks and confirmations from practising professionals also ensure that we stay compliant with all regulations.

R. Chandra: How has your background in law influenced your approach to corporate governance and compliance?

Srikanth G Menon: My background in law has been instrumental in understanding the complexities of corporate governance and compliance. It has helped me navigate the stringent regulations and ensure that our practices are always in line with legal requirements.

R. Chandra: Thank you, Srikanth, for sharing your insightful journey and experiences. Your dedication to compliance and governance is truly commendable.

Srikanth G Menon: Thank you, Raamesh. It was a pleasure discussing my journey and the intricacies of the NBFC sector.