AU Small Finance Bank - Assistant Vice President - Compliance Insurance

Job Responsibilities:

- Financial-Budget/Sales/Cost head/Profit head

- Customer

- Internal Process

- L&D - Ensure Compliances pertaining to Insurance, Mutual Fund, NPS, PFRDA, PMJJBY, PMSBY, DEMATE.

- Ensure IRDA and AMFI Certification as per regulatory norms

- Implement all regulatory framework & policies & internal governance policies along with all insurance partner in sales and service.

- Liaison with Regulators & Industry bodies for regular updates

- Evaluate the impacts of any new regulation, decision, ability to anticipate issues and proactively create a solution for open gaps and risks

- Build process around regulatory compliance requirements

- New product & Process approvals Ensure applicability of law like data protection, new license regulations and structure/reporting.

- Design and implement Sales Process Reviews across all channels - DST, Tele Sales, Web Sales, Group Insurance, POS channels.

- Conduct Compliance Training Sessions in New Employee Orientation

- Set up complete monitoring and tracking program, checklist rollout, Action trackers and reports

- Review all marketing collaterals, literature, factsheets, communiques, and communications

- Regulatory reporting - Filings monthly / Quarterly report reports, Annual Audit Certification, and independent audits

- Monitoring of AML / FATCA compliance and its reporting

- Conducting and arranging Committee meetings - valuation committee, investment committee

- Liasoning with Internal auditors and statutory auditors and effectively handling SEBI, IRDA, PRFDA inspections

- Working with Company Secretary to ensure Compliance with ROC procedures

- Preparation of required material for board meetings

Performance Measures :

- Measure Deliverables from the role Key Outputs/Results from the Role

- Ensure timely submission of reports before statutory or internally set deadlines

- Adherence of all regulatory compliance in all process

- Provide all compliance update to the management on reports on a weekly/monthly basis

Job Specification (Competencies required to perform the role)

Qualifications - LLB/ MBA finance/ CA (addl. qualification of CS /LLM will be added advantage. LLB preferred because the role involves interpretation and engagement for policy and regulations).

Experience :

- Specific

- Overall - Minimum 12-15 years post-qualification in regulatory, legal and compliance function with direct engagement with financial sector regulators like RBI, SEBI, IRDAI, PFRDAI.

- In-house regulatory or compliance portfolio of financial services company handling inspection and audit by regulators, direct engagement with regulators.

Functional Competencies :

- Advance Excel with VB and Macros, Reporting skills and Presentation

- Committed and ready to work under constraints/ pressure.

- Liaison skills and ability to participate in industry associations, fintech committees and place the company's viewpoint on regulatory enablement's and issues.

- Demonstrated ability to handle regulatory inspections and audits independently.

- High degree of professional ethics and integrity, Excellent judgement and analytical skills, good interpersonal skills

- Strong & Effective communication and influencing skills

Behavioral Competencies :

- Self-Driven & Proactive

- Result Oriented with a positive outlook

- Well-presented and business-like - Good speaking & writing skills

- Stable career history, Exceptional work ethic & drive, Willing to travel