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14/07 Huma
Manager at RGF Select India

Views:3137 Applications:62 Rec. Actions:Recruiter Actions:0

Head - Compliance - CA/CS - Insurance (9-14 yrs)

Delhi/NCR Job Code: 355634

Head - Compliance (Only CA/CS)

- As the Head - Compliance, the incumbent will lead efforts in ensuring Compliance with various IRDAI and other Regulations which may be applicable to the company.

- The work will involve drafting of compliance plan, monitoring of compliance on a regular basis, communicating the various requirements of compliances by working closely with various stakeholders and ensuring implementation of the same.

- The work will also involve leading the compliance assurance function which will involve drawing a compliance audit plan, working closely with Internal Audit function to ensure period audit of various areas to provide assurance to the management for effective implementation of the compliance process. It also involves carrying out dipstick surveys on periodic basis on critical areas depending upon need.

- The position will assist in Regulatory advocacy which will involve developing papers articulating need for regulatory change and enabling system change. It will involve close working with various senior members of functional team to ensure timely identification of issues, effective articulation and implementation.

- The reporting requirements will involve preparation of various monthly and quarterly reports to be presented to Management and to Shareholders on the progress of compliances, reporting of any deviation and corrective actions being planned. The position will also require periodic interaction with Regulators office.

Key Responsibilities :

Regulatory Requirements :

- Preparation of Annual compliance plan and ensuring period monitoring and reporting

- Dissemination and communication of all new and revised regulatory requirements

- Guiding, advising the business on the interpretation of all IRDA regulations

- Tracking of regulatory submissions ad-hoc and regular within defined TAT

- Participate in the regulatory inspections - Leading the inspection

- Ensure compliance with AML Regulations. Handling AML Audits (Internal and external)

- Interface and connect with Regulator and Industry

- Ensure compliance with Advertisement Guidelines

- Supporting new business and transformation initiatives

- Corporate Agent On-boading / Renewal of licenses as per defined process.

- Enhanced compliance of Labour Laws.

- Reporting of various compliance as per Compliance Plan on periodic basis to Management and to Board.

- Handle Regulatory inspections/ notices and ad-hoc requests in a most proactive manner.

Compliance Assurance :

- Preparation of Annual Compliance Audit plan, identifying key areas where audit needs to be conducted.

- Work in close co-ordination with internal audit/ external audit firms for carrying out audits in timely and quality manner.

- Review the audit reports prepared by the external auditors/ internal audits, prepare an action plan in co-ordination with stakeholders and ensure timely corrective action.

- Reporting of Compliance audit outcomes to Audit committee/ Management along with corrective actions.

Team Leadership :

- Create a world class Compliance team and imbue them with a proactive, client focused, solutions driven approach with a pragmatic, attentive eye

- Overall management, supervision and professional development of the Compliance team

- Create succession and retention plan, identify and fulfill training needs

- Ensure a judicious mix of outsourcing to create internal bandwidth and controls to ensure prompt compliance support for all offices

Measures of Success :

- Providing compliant solution per IRDA guildelines within agreed timelines, and no adverse regulatory observation on such matters

- Ensuring timely implementation of all regulations.

- Leading and effective response to the regulatory queries and inspections matters.

- Updating AML processes, Satisfactory Audit / Inspection outcomes. 6. Timely and effective response to Regulator and in compliance with IRDA requirements.

- Ensure timely Labor Audits

- Ensuring timely handling of IRDA inspections and audits. Filing of high quality replies with clear articulation of point of view of the organization.

- Timely closure of shareholders queries

- Satisfactory Report from Internal / External Audit - compliant with the prevalent Companies Act.

Key Relationships (Internal /External) :

Internal : Audit Committee, Senior Leadership Team, Team members, Peers in other functions.

External : IRDA Other Statutory Authorities, Legal Firms, Auditors and Vendors

Key competencies/skills required :

- Ability to deal with ambiguities

- Ability to flourish in an intense and fast moving work environment

- Very strong result orientation

- Ability to work across functions and departments

- Strong written and oral communication skills

- Excellent presentation skills

- Exceptional Leadership abilities

- Well rounded business person with Compliance expertise.

Desired qualification and experience :

- Chartered Accountacy/ Company Secretary with additional law qualification.

- 6 - 8 years of relevant experience working in the compliance and company secretary/ finance functions in a large organisation. Knowledge of insurance regulations is desirable.

This job opening was posted long time back. It may not be active. Nor was it removed by the recruiter. Please use your discretion.

Women-friendly workplace:

Maternity and Paternity Benefits

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