HR at MAX Life Insurance
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Max Life Insurance - Senior/Chief Manager - Compliance (10-14 yrs)
Position : Senior / Chief - Compliance
Department: Legal &Compliance
Function : Legal & Compliance
Reporting to : Assistant Vice President - Compliance
Job Summary :
- Accountable for preparing Compliance Reviews Plan for the organization and getting it approved by the Audit Committee
- Developing and enhancing the compliance review process and new incumbents
- Reporting of compliance outages to the management and board
- Review implementation of a management action plan for mitigation of compliance outages identified
- Managing Max Life's Code for Personal Investments/Trading in securities.
1. Manage Compliance Reviews:
- Creating the Compliance Review Program/ work plan;
- Carrying / conducting out independent and in-depth compliance reviews for Corporate Agents, HO Functions, Branch Offices and Third party service providers.
- Prepare work papers documenting the audit procedures performed and prepare reports
- Formulating process of tracking and closing compliance issues;
- A follow-up to determine the adequacy of corrective actions
- Track and validate status of issues highlighted
- Ensuring record maintenance of all compliance reviews for future review and record retention purposes.
- Close looping of completed reviews with respective process owners/branch heads for review closures.
- Reporting key compliance outages in various management committees and Board subcommittees like Audit Committee/Risk Committee.
2. Manage Investment Compliance:
- Creating and updating the model code of conduct for investment professionals as per SEBI insider trading Regulations and IRDAI Investment regulations.
- Maintaining a list of Connected Persons under the Code
- Obtaining periodic self-declarations from connected persons within policy TAT
- Providing Trade Approvals from CCO to the connected persons within policy specified TAT\
- Annual review of adherence to Insider Trading Code of Max Life
Carrying out :
3. Manage execution of Quarterly Compliance Checklists (QCCs) along with analysis of the completed QCCs to gauge adherence levels to compliance requirements in various branch offices and corporate agents.
4. Carrying out Special projects/reviews as may be assigned from time to time.
5. Creating Compliance Awareness and Culture:
- Creating Compliance Awareness through awareness, and communications.
- Participate in Compliance Weeks
- Compliance engagement with Business Partners
- Providing Classroom Training to employees and agents through New Hire Induction, SP Training Platforms, Online Training, etc.
MEASURES OF SUCCESS :
- Completion of the reviews as per the defined review calendar
- Publication of review reports to various stakeholders with requisite documentation/annexure within specified timelines
- Effective tracking of the open issues with respective stakeholders for the closure of highlighted issues by target dates
- Tracking of issues raised, closed, issues remaining open/ past due
- Timely completion of the Review plan and Risk Assessments. Key risks identified & mitigation plan developed
- Line management feedback received on service provided e.g. communication protocols, timeliness, and quality of recommendations
- Timely reporting of compliance issues in various Management and Board Committees
- Timely updation, execution, and analysis of the Quarterly Compliance Checklists
- Ensuring timely communication and awareness of Max Life Code for Insider Trading to Connected Persons
- Ensure adherence to Max Life Code for Insider Trading by Connected Persons through obtaining the requisite declarations and review of documents.
- Ensure participation in Compliance Awareness drives like compliance weeks, training etc.