Max Life Insurance - Manager - Compliance Investigation Unit

Position : Manager- Compliance Investigation Unit

No. of Positions : 1

Department : Compliance

Function : Legal & Compliance

Reporting to : Senior Manager - Compliance

Band : 4A

Location : Gurgaon (HO)

Job Summary :

- The position is accountable for planning, organizing and managing Compliance investigations for Agency & Non Agency Channel within Distribution.

- Responsible for managing performance of the team and thereby achieving goals of Compliance Team.

Key Responsibilities :

1. Manage the Investigation process for Agency & Non Agency Channel :

a. Spearhead Consequence Management within the organization and with corporate partner like Axis, YBL, etc., including managing channel partner investigation queries

b. Case inventory management

c. Ensuring in-depth investigations to reach holistic, appropriate & precise completion.

d. Ensuring investigation reports on the erring Sales personnel to be submitted within defined TAT.

e. All sales malpractices cases are adequately investigated and work with Legal/ HR/ Management in determining impropriety committed.

f. Prioritizing escalated cases investigations & ensuring priority closures.

g. Ensuring record maintenance of all case studies/investigation reports for future review purposes.

h. Augment - Compliance Awareness- at the Grass Root Level across branches through awareness sessions and recognitions.

2. Continuous reviewing current Consequence Management Grids, active distribution channels pertaining to investigation findings/trends and sharing feedback for devising consequence management grids for recently launched & upcoming distribution channels.

3. 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.

4. Developing & enhancing the Process & Team members :

a. Research, Identification & implementation of new investigation tools, on continuous basis.

b. Providing support & leading team on task completion.

c. Conducting fraud busting trainings and awareness programs.

d. Performance improvement of the team and ensure meeting Team SLAs.

e. Conducting Performance, review and planning for the team members.

5. Manage execution of Quarterly Quality review within the team to gauge adequate documentation of all the process related documents.

6. Identify patterns of Sales Malpractices and work with Linkages to facilitate Field Management in initiating preventive measures and help control business quality

7. Manage Team Development, Retention & engagement

8. Liasoning with departments for execution of Whistleblower complaints thereby ensuring process efficiency.

9. Support in preparation of investigation representation in Audit Committee, Ethics Committee etc.

10. Support in extending awareness/communication agenda on Compliance issues across Max Life Insurance including managing/updating Compliance communications/policies on Intranet.

11. Mentor / coach new joinees and take them through effective induction process

12. Coordination with Ombudsman / Law enforcement agencies

Measures of Success :

- All investigations performed by self and team to be closed within defined TAT

- Identification of lapses within processes and drive implementation of preventive action.

- Publication of study reports with all required evidence materials within specified timeline.

- Effective closures of impropriety cases and implementation within agreed TAT

- Timely and successful completion of Quality checks and updation of case log file.

- Satisfactory Audit rating

Desired experience :

- Demonstrated skills in fraud detection and investigation / Compliance Monitoring/ Complaint Handling/ Quality controls

- 5-7 years of relevant experience

- Position shall require extensive travelling

Knowledge and skills required :

- High customer centricity

- Strong Process/ controls orientation

- Strong analytical ability

- High on collaborating and influential skills

- Strong on core values of Max Life Insurance

IJP ELIGIBILITY :

- Candidates who have a performance rating of G2M2 & have completed 18 months in the current role

- Candidates who have a performance rating of G3M3 & have completed 24 months in the current role

- FOR LATERAL MOVEMENT, candidate should have completed at least 18 months in the current Role & have a minimum performance rating of G3M3.