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14/09 Priti Goyal
Founder at Serving Skill

Views:653 Applications:152 Rec. Actions:Recruiter Actions:9

Assistant Vice President - Litigation - Life Insurance (5-10 yrs)

Mumbai Job Code: 1155089

Principal Accountabilities:

1. Draft and refine policies and procedures for effective mitigation of compliance risks in tandem with changing legal and regulatory landscape

i) Review existing policies and develop new ones to cater to the regulatory and legal obligations

ii) Align global policy requirements with local operating environment

iii) Continuously review and revise policies to keep pace with the changing requirements

iv) Extrapolate policy requirements into functional processes for effective implementation

2. Assist LCPA in conceiving a compliance review plan, execute reviews and liaise with internal stakeholders for closure of gaps identified during such review.

i) Liaise with internal stakeholders for timely commencement of the review and closure of the gaps identified.

ii) Closure of queries raised by stakeholders

3. Monitor and report on the regulatory framework of the organization to ensure that business is conducted with strict adherence to the regulatory framework prescribed by IRDAI.

i) Analyze process review findings, highlight gaps to stakeholders and ensure closure of gaps identified.

ii) Verify procedures from a regulatory perspective and suggest controls required if any

iii) Use various tools to create a regulatory framework in form of a compliance manual, checklists and a system to identify regulatory exceptions if any and ensure timely closure of gaps identified within agreed timeframe.

4. Monitor and communicate new regulatory requirements

i) Conduct horizon scanning to identify new laws/regulations or changes to existing ones impacting our business.

ii) Ensure regulatory notifications are cascaded to all concerned along with its impact to our business.

iii) Analyze applicability of law/regulations and required actionable for all functions.

iv) Ensure the new circulars are incorporated and form a part of the ongoing compliance certification.

v) Track implementation and where required create/collect relevant shreds of evidence of the implementation.

5. Training & Communication

i) Identify training needs based on existing and new areas of regulations, policies, etc

ii) Map trainings to specific individual/groups and prepare a plan for dissemination of training to them

iii) Create and conduct trainings for colleagues on various critical regulatory areas

iv) Prepare annual plan for and implement such plan for communication of key legislative and regulatory obligations amongst colleagues, vendors, partners, customers, etc.

v) Measure success of trainings

6. Assisting in Regulatory Inspection related co-ordination/assistance/support

i) Liaise with functions/auditors for submission of requirement in a timely manner to ensure the audit is commenced and closed on time.

ii) Follow-up with functions/stakeholders for timely closure of queries raised by auditors

7. Governance and Reporting:

i) Prepare periodic reports to highlight compliance health of the organization to respective stakeholders viz. Board of Directors, Risk Committee, CEO, Senior Leadership Team, etc

ii) Create a framework for timely identification and escalation of breaches and issues to applicable stakeholders

iii) Regular reporting to IRDA, Region, etc.Drafting Vetting of Investment related documents such as DTD, SPA, Deed of Guarantee etc. Drafting and vetting of variety of other agreements (Creative Services, IT, vendor agreements, SLAs, NDAs), MOUs, Policy Contracts, etc. Negotiation with third parties and finalization of all agreements Preparation of Policy Documents Periodic review and revision of standard legal documentation used by the Company to ensure that the company's interest is protected Providing legal opinions to the internal teams Proactively advise on and help to manage important changes in law and regulation Assist in the development of processes, policies and procedures designed to reduce legal risk and or increase the efficiency

Desired Role - LLM with 5+ years of experience in Legal and compliance role, Prefer candidates from life insurance industry

Women-friendly workplace:

Maternity and Paternity Benefits

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