CignaTTK Health Insurance - Manager - Legal & Compliance

Position Title : Manager - Legal & Compliance

Workstream/Business Unit/Department Legal and Compliance

Band : 3

Location : HO

Reporting To Head(VP) : Legal, Compliance & CS

- Reported By AM/DM

Desired Qualification : ACS/ACA/MBA. LLB or LLM will be preferable.

Desired Experience : Minimum 3 year experience of handling IRDA & Regulatory compliances is a must.

- Additional experience in Legal (Contracts/Litigation) will be preferable.

Purpose :

Position Purpose : To provide support to Head - Legal, Compliance & CS in managing timely and effective compliance of Insurance Laws, Insurance Rules, IRDA Regulations, IRDA Guidelines & Circulars, FCPA, AML, & IIB related compliances and other regulatory compliances as applicable to an Indian Insurance Company in Health Insurance Business.

Position Responsibilities :

Key Responsibilities :

Compliance :

- To review Health insurance policies & product related documents such as marketing and branding activities, customer communications, promotional materials and advertisements, sales and distribution related activities to ensure compliance with regulatory requirements of IRDA.

- To assist in the identification of regulatory risks, explaining the implications of those risks and recommends actions for mitigating those risks.

- To assist in monitoring and ensuring the compliance, as per the compliance program on an ongoing basis, by various internal workstreams, preparation of compliance monitoring framework, compliance manual and regular updation of the same.

- To provide advice to management and staff on regulatory matters, including anticipated changes to regulatory requirements that will impact on Company's business activities and compliance arrangements.

- To ensure compliance with the IRDA Guidelines on Outsourcing, AML, F&U and Advertisements.

- To ensure regulatory filings (as applicable to a Health Insurance Company) with IRDA and other regulatory bodies.

- To communicate and share compliance requirements with other stakeholders.

- To ensure design and conduct need based Compliance training programs and awareness sessions.

Legal Support in Product Development :

- Provide legal & regulatory inputs and guidance in interpreting the regulatory provisions at the product development stage

- Review of product literature, policy contracts, policy documents and Policy schedules.

- Provide legal opinion wherever required and define policy contracts in individual and group policy space

- Ensure adherence to IRDA regulations for all product developed.

Key Critical Competencies :

- Go getter

- Good negotiator

- Ability to handle Legal and Compliance matters independently

- Thorough with Insurance Laws and related regulations, notifications and circulars

- Grievance handling with regulatory viewpoint and insight

Salary Range: 700000 - 950000