Assistant Manager/Manager - Compliance - Insurance

We are looking for AM / Manager - Compliance for a client with a global presence based at Gurgaon.

Job Location : Gurgaon

Education : L.L.B. and / or Company Secretary / Insurance Graduate / Chartered Accountant /AIII / FIII / Membership of associations such as CIA and CISA

Exp : 2-3 years of relevant work experience in insurance industry

Reporting to : AVP - Compliance

Department : Compliance ( legal dept is separate)

Skills : Competence in interpreting insurance laws and regulations, Should have handled audit / inspection assignments independently, Understanding of insurance industry and regulations

Industry : Insurance Only

Working Timings : 9 AM onwards, 5 days working

Purpose:

To provide assurance that the company's processes are being conducted as per the Company and Regulatory standards.

Context :

The client is a trusted, customer-driven provider of insurance products in India and operates in a highly regulated environment. Failure to meet appropriate standards could result in significant cost and ultimately affect the regulatory requirement apart from reputational risk

Main Priorities :

- Track regulatory updates on and dissemination

- Business Advisory, Implementation & Gaps Controls Tracking & Monitoring

- Reviewing internal process controls and compliance controls

- Record keeping of all correspondences made with the Authority

Key Outputs :

1. Furnishing of reports to the Authority within TAT

2. Dissemination of requirements within agreed TAT

3. Timely completion of reviews with desired outcome

4. Cross functional Training as per Training calendar.

5. Assistance in establishing processes as per company, regulatory standards.

6. Highlight any exception, non-compliance and potential issues and

7. Timely monitor and Closure of action items

8. Periodic dashboards to Senior Management on the level of implementation.

Role & Content :

1. Perform compliance reviews as well as assist in establishing compliance processes and procedures for the Company within given timeframe

2. Monitoring closure of action points related to new development or identified issues with desired outcome

3. Adhere submission of IRDAI reports in required format within TAT

4. Follow-up with respective functions for timely submission of data

5. Maintenance of reporting calendar & tracker

6. Advise the business on advertisements before release

7. Support team members in IRDAI adhoc requirement or queries

8. Regulatory training to cross functions

Key Performance Indicators:

- Timely submission of report/ data to the Authority

- Timely reminder and partner with function for timely submission

- Sanity check before submission to Authority

- Timely completion of reviews with desired outcome

- Timely implementation of new updates.

- Recommendations on how risks identified can be better managed and controlled

- Record Keeping

Skills / Knowledge:

- In-depth knowledge of life insurance business, processes and regulations

- Working knowledge of systems

- Should possess ability to understand legal, business issues and processes

- Good communication skills - Should possess the ability to articulate thoughts precisely and concisely

- Must demonstrate good verbal and written communication skills.

- Process orientation and identification of appropriate control mechanisms.

- Efficient and timely resolution of issues

If the above role excites you, Kindly share your updated Photo Word (Doc) resume with the below mentioned details -

Current Residence Location :
Education Qual
Total Years of Exp :
Insurance Industry Exp ( yrs & Life/ health/ general - Specify) :
Exp in Insurance Compliance (yrs) :
% of Compliance in your current role :
Current Company :
Current CTC ( Fixed+ Variable) :
Expected CTC :
NP :
Min NP to be served ( options available) :
DOB & Age :

Ruchika
Team Workoid