Consultant at Huquo
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Chief Manager - Compliance - Accounting Firm (5-15 yrs)
Chief Manager Compliance
Job Description- Compliance
Location Gurgaon (HO)
- Assisting and coordinating in carrying out research work on regulatory advocacy matters, including interpretation and mapping with regulations.
- Assisting in implementation of the enhanced regulatory advocacy agenda and framework.
- Carry out Compliance Admin reviews by co-creating review plans and conducting governance reviews as per the internal plan and management requests and close loop the same.
- Assisting supervisor in managing IRDAI Inspections
- Manage Whistleblower process and publish dashboard to management periodically
- Responsible for driving compliance culture in the organization through right messaging and tone at the top through increased engagement, platforms and initiatives
I. Regulatory Interpretation:
- Assisting in interpretation of applicable regulatory/statutory provisions
- Doing research work and assisting on giving opinions to functions on matters requiring compliance views to ensure adherence to regulatory requirements
- Regulatory Interface: Coordinating and ensuring necessary Interacting with IRDAI and Life Council for any query resolution, clarification, representation, etc.
II. Regulatory Advocacy:
- Assisting in drafting advocacy notes.
- Carry out research (primary and secondary) to help firm up advocacy positions and papers
- Develop internal processes and SOPs to institutionalize internal governance framework for the Regulatory advocacy
- Scan, monitor and constantly evaluate the regulatory and policy landscape for developments which are likely to impact business and proactively help business to be ready with plans, draw out advocacy plans from the same.
- Be responsible for all documentation of process and information flow relating to the function including creation and owning of advocacy execution trackers, dashboards, repository of regulations etc.
III. Manage Compliance Admin Reviews:
- Co-creating and carrying out Compliance Admin reviews and track for closure
- Identify process gaps/ failures within distribution and other internal departments; thereby recommend preventive measures to help mitigate such issues in future. Close looping of recommended measures with other departments.
- Leading ADHOC Projects assigned and its closure within the required timeframe
IV. Effectively manage Whistleblower Process:
- Strengthen governance of Whistleblower Platform - acknowledge, allocation, follow ups, and ensure complete closure of incidents. Adherence to the Whistleblower Policy and EDAP management with no management surprises
- Ensure respective leadership members are timely updated with critical ongoing issues within their patches
- Ensuring the learnings generated from the closure of the investigation.
- Ensure timely delivery of Dashboards and Quality Checks before release and drive for faster closure of these cases.
- Seamless operational of Ethics Hotline Platform with effective Governance of WB Policy
- Conducting Whistleblower Committee - Presentation, coordination Drive timely MOM closure for the effectiveness of these meetings- Quarterly
- The timely flow of data and updates for the management committees and ensure qualitative inputs are submitted for the effective presentation from the Unit - Quarterly
- Timely delivery of dashboards to the leadership team and ensure its effectiveness
V. Drive Culture:
- Drive compliance culture in the organization through communication plan
- Drive zero tolerance policy and socializing its importance in the organization
- Drive and maintenance of Compliance Functional Training
- Sharing best compliance opinion through internal learning, research, ascertaining best practices in the insurance sector
- Drive focused Compliance Training Program for new joinees and Distribution Leaders through e-learning module
- Implementation of Compliance Reward Program
- Other initiatives to strengthen our organizational culture - Welcome Mailer, Survey, SMS, etc. Measures of Success:
- Assisting in driving Regulatory advocacy agenda effectively
- Assisting in performing research for providing consolidated and comprehensive compliance advisory(s)/opinion(s) to business
- Ability to anticipate the changing landscape and quickly cobble together CFTs to get business ready and proactively draw up advocacy plans ready for execution.
- Assisting in follow through with plan execution on a project matrix with 100% completion of mandated actionables, in terms of content (papers) and stakeholder interactions within agreed timelines.
- Support supervisor in gathering external intelligence from the regulatory and competitive landscape which will help alert business to significant developments and hence add value by enabling business to be ready with mitigation plans.
- Completion of the reviews as per the defined plan
- Publication of review reports to various stakeholders with requisite documentation / annexure within specified timelines
- Effective management of defined SLAs in the Whistleblower Policy / Process
- Drive culture through strong communication to avoid repeat occurrence
- Identification of lapses within processes and drive implementation of preventive action.
- Publication of study reports with all required evidence materials within specified timeline.
- Manage all dashboarding activity
- Ensure highest participation in Compliance Awareness drives like compliance weeks, trainings etc.
- Strict adherence to Awareness and Training calendar
Key Relationships (Internal /External):
- Sr./ Middle management in
- Products and Marketing team
- Finance, Operations and Distribution
- External: IRDAI, Peer Insurers
Key competencies/skills required:
- Excellent Communication skills
- Ability to read and interpret the IRDA regulations and Laws
- Communication & Collaboration with departments
- Result oriented and Go getter
- LLB/ CS preferred)
- Experience in handling compliance/ legal roles
- Domain knowledge of financial services/insurance industry preferable
- Ability to draft quality content independently
- Ability to work in teams and as part of coalitions, both within and outside the company.
Knowledge and skills required:
- High customer centricity
- Strong Process/ controls orientation& analytical ability
- Strong on Max Life core values
- Effective communication (verbal and written), interpersonal, and influencing skills.
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