BharatPe makes 3 hires for corporate governance, compliance, data security

Fintech firm says it is essential to strengthen the roles as it 'focuses on getting IPO ready'

Fintech firm BharatPe on Wednesday announced three appointments for governance, compliance and data security as it fights its former co-founder Ashneer Grover in courts for allegedly siphoning off funds.

The company has appointed Ambuj Bhalla as its chief information security Officer (CISO). The Delhi-based firm appointed Rahul Bhatia as head--internal audit and Ravinder Oberoi as head--compliance.

“I am confident that Ambuj’s (Bhalla) rich experience in the information security domain will guide the BharatPe team to ensure the highest level of security across all our products,” said Smriti Handa, chief human resources officer (CHRO), BharatPe. “Rahul (Bhatia) and Ravinder (Oberoi) with their in-depth understanding of corporate governance and compliance across financial services companies will enable us to build a business that is IPO ready.”

Bhalla has two decades of experience in technology with focus on information security, data privacy and protection. He will be responsible for implementing a robust IT security and cybersecurity framework for the BharatPe Group.

Bhatia, a chartered accountant, has 17 years of experience in governance, risk and compliance in the financial services sector. He will work with BharatPe’s audit committee and set up a governance and internal audit framework.

Oberoi has close to 23 years of experience in financial services, banking and insurance companies. He will be responsible for setting up the compliance function and strengthening relationships with regulatory bodies.

“As we focus on getting IPO ready, it becomes essential for us to ensure that data privacy, cyber security, corporate governance and compliance are given the highest priority,” said BharatPe Founder, Shashvat Nakrani.

BharatPe is strengthening its governance, compliance and audit functions at a time the firm has filed legal suits against Grover and former head of controls Madhuri Jain Grover for allegedly siphoning off company funds worth Rs 88.6 crore.

Earlier this month, BharatPe chief executive officer (CEO) Suhail Sameer quit from his post and will take over as the Strategic Advisor from January 7. Nalin Negi has been appointed as the interim CEO.