VP - Regulatory Compliance - Insurance

We currently have an opening for VP - Regulatory Compliance with one of our Insurance Client

JD:

Purpose:

- The Vice President (VP) Regulatory Compliance (RC) is a risk management role that has a remit and responsibilities for implementation and management with guidance from VP- Legal & Compliance and Director (Compliance, Legal and Internal Audit), of all aspects of RC, including dissemination of local regulatory requirements, Company's Group Compliance requirements, Local regulatory & Group reporting, conducting thematic review, exercise oversight on Monitoring and Testing of various RC requirements across all departments of the Company.

- The role will also review and implement shareholder requirements such as compliances with foreign legislations like the UK Bribery Act, Foreign Account Tax Practice Act, Dodd- Frank legislations, Foreign Corrupt Practices Act etc.,

- The role will ensure post implementation review on a continuous basis of compliances with such foreign legislations.

- The role requires strong partnership with the entity's business and leadership team, including engagement with local regulator, statutory bodies, Life Insurance Council and Company's Group compliance teams.

- The incumbent will monitor and track the progress of implementation of various initiatives underway which fall under the umbrella of RC.

- The role requires strong partnership with business to drive and accelerate the execution of RC program that directly impact business performance and exercise oversight on the various activities being performed by other RC colleagues.

- This role is accountable for the implementation of RC policies in the business and as such it will require close collaboration with various business functions in the Company.

Responsibility:

- Continuous review for appropriateness of framework to monitor RC development impacting on the businesses in the entity.

- Implement programmes and implement actions to address, manage and mitigate impacts of regulatory changes on the entity.

- Works closely with Regional RC teams to manage Compliance matters.

- Reporting to IRDA and Regional team

- Focus on thematic reviews to ensure compliances across functions and timely identification of breaches/violations.

- Lead audits/inspections in the areas of RC and support with information and data with auditors, regulators

- Assist line management in adherence to timelines for delivery of results

- Review framework and streamline process for identify/filtering/reporting regulatory compliance breach risk

- Providing accurate, relevant and timely information to the line management for decision making.

- Adverse consequences arising from regulatory compliance and reputational breaches/issues are properly managed, mitigated and reported, with remedial action initiated in line with the materiality of the risk/issue.

- Create an effective engagement model with BRCMs for effective implementation of RC policies

Customers/Stakeholders:

- Liaison with relevant stakeholder within the business and functional teams to provide expertise and support on all RC related matters.

- Interactions with Regulators and industry bodies in India on RC matters relating to the entity.

- Ensure the appropriate timely and relevant RC information is provided to the line management

- Efficient coordination of regulatory related request and ensure proper communication.

- Regular reports are prepared and presented within agreed timescales, with explanation to relevant functions/management.

- Adhoc reports to management on regulatory compliance breaches and reputational issues arc provided as they occur

Experience: 12 - 18 years (Atleast 3 - 5 yrs in Regulatory Compliance/or Financial Crime Compliance)

Location: Gurgaon

If interested then kindly share profile along with below details:

Total Experience:
Experience in Regulatory Compliance:
Current CTC:
Notice Period:
Current Location:
Reason for Change:

Satish Iyer