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03/05 Dilip Kumar Vidyarthy
Senior Vice President - Bancassurance at Au Small Finance Bank Limited

Views:2240 Applications:277 Rec. Actions:Recruiter Actions:86

AU Small Finance Bank - DVP/AVP - Insurance Distribution Audit & Compliance (15-25 yrs)

Jaipur/Mumbai Job Code: 1089390

Brief Objective of Position & Its Contribution to the Business

Responsible for 1st line of defense for Insurance and Investment products

- Established a sound regulatory compliance framework, regulatory engagement & policy advocacy program.

- Build strong regulatory engagement & direct liaison with all functions and insurance partners

- Draw a detailed and efficient process for implementing all applicable regulations by RBI, IRDAI, PFRDA & SEBI for Insurance and Investment Business

- Always ensure and be ready with all functions for regulatory compliance and audit.

- Represent the Bank in various industry bodies of digital, fintech other working groups on regulatory policies, advocacy programs.

- Create regulatory knowledge for new and renewals of licenses and related registrations.

Key Responsibilities

- 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

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).

- 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

Women-friendly workplace:

Maternity and Paternity Benefits

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