Chief Manager - Policy Servicing - Aditya Birla Sun Life Insurance

Job Purpose:

To act as a risk champion for policy servicing, proactively analyse impact of regulatory changes, drive all internal & external audits, ensure accurate regulatory reporting for policy servicing processes as per defined frequency and provide time to time clarification as raised by regulatory authority in coordination with risk, IT, Finance and Product or Actuaries.

The role holder is also required to review existing control, system enhancement requirements for process automation, drive systemic changes abiding by all risk measures and regulations in policy servicing processes and provide sign off on all Day-0,1 & 2 requirements for new product launch for policy servicing processes.

Principal Accountabilities:

1. Recommend and implement quality check parameters for types of policy servicing transactions processed and communication generated in the entire policy life cycle and share reports with the respective verticals within Policy Servicing for improvement.

2. Assist in the planning and budgeting exercise for policy admin, review functional score-card to ensure that policy servicing cost is within allocated budget and striving for reduction in operating cost , Provide MIS critical to processing teams for daily operations and performance management.

3. Prepare, implement and monitor Risk Control Self Assessment exercise for policy servicing

4. Regulatory Reporting - Keeping abreast of all regulatory developments, working in close coordinating with Regulatory Risk Products and BSG team to ensure the department is kept updated and stays compliant at all times. Adhere to timelines and ensure accuracy for Regulatory reporting

5. Product Set up - FSD/ UAT closures - 1. Evaluating all URs, FSDs, UAT and coordinating with Vertical heads and provide sign off.

6. Championing Audit with closure of Audit findings

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