CignaTTK Health Insurance - Senior Manager - Legal & Compliance

Position Title : Manager - Legal & Compliance

Workstream/Business Unit/Department Legal, Secretarial and Compliance

Band : 2/3

Location : HO

Reporting To : AVP - Legal, Compliance & CS

Reported By : NA

Desired Qualification : LLB or LLM. ACS degree will be preferable.

Purpose :

Position Purpose To provide support to AVP - Legal, Compliance & CS in managing the legal services mitigating legal risk and assist the company in interpretation of laws and to ensure timely and effective compliance of Insurance Laws, Insurance Rules, IRDA Regulations, IRDA Guidelines & Circulars, IIB related compliances and other regulatory compliances as applicable to an Indian Insurance Company in Health Insurance Business.

Position Responsibilities :

Key Responsibilities :

Legal :

Contract Management :

- Drafting legal agreements relating all functions

- Legal vetting of contracts before execution

- Support the business in post-contract implementation stage

- Maintain a comprehensive Contract tracker and the central repository of all original contracts

- Support the business in the event of disputes/litigations arising out of the terms and conditions of the contracts

- Draft employee contracts, employee service & indemnity agreements

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

Compliance :

- Responsible for ensuring the regulatory filings (as applicable to a Health Insurance Company) with IRDA and other regulatory bodies.

- Responsible for assisting the compliance team in monitoring and ensuring the compliance, as per the compliance program on an ongoing basis, by various internal workstreams, preparation of compliance manual and regular update of the same.

- Responsible for assisting the compliance team to ensure strict compliance with the IRDA Guidelines on Outsourcing, AML Guidelines, F&U Guidelines and Advertisement guidelines.

- Responsible for assisting the compliance team to co-ordinate and assist the Statutory Auditors, Internal auditors and Regulatory Compliance Audit teams in relevant areas.

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: 10 - 12 LPA