Manager/Senior Manager - Legal - Insurance (9-14 yrs)
Life insurance policy contracts
- Finalizing products by ensuring compliance with the product regulations and other applicable insurance laws and use of plain English which is easy for customer to understand.
- Ensuring that products filed are consistent with the File and Use document in order to avoid iterations /queries/refilling /claims.
- Handling end to end reinsurance treaties including its amendments.
- Responsible to provide all round support for products finalization including maintaining legal inventory.
- Keeping regular updates on the latest development of trends and laws relating to life insurance industry.
- Advising on interpretation of laws and related issues to business department in day to day operational and customer related issues.
- Drafting representations before the regulator and Life Insurance Council
- Collaborate with Compliance team to develop framework and monitor compliance with laws.
- Spread legal awareness on various laws affecting the business.
- Manage relationship with external counsels.
- Participate in cross functional teams dealing with various business issues and provide legal advice to such groups
MEASURES OF SUCCESS:
- Internal customer feedback
- TAT for opinions and finalizing policy contracts
- Number of IRDAI queries/disputes/ arising out of finalized policy contracts
- Number and quality of innovative but compliant, business solutions
Key competencies/skills required
- Domain knowledge of insurance and relevant laws, its amendments and interpretation
- Experience of working in diverse areas of law
- Excellent drafting and communication skills
- Hands on experience in interacting with the any regulator.
Qualification and experience
A law graduate from a reputed institution having post qualification experience of 10-13 years in law firm or services sector (preferably financial / Insurance). Post-graduation is not a mandatory qualification.