Principal Consultant at Jubilant HR Consultant
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Senior Manager/Chief Manager - Compliance - Life Insurance (8-15 yrs)
Our Clients are a well-established Life Insurance Company. They are a joint venture between diversified financial services conglomerate in India and one of the oldest life insurance companies in the world. Headquartered at Mumbai.
Role : Senior Manager / Chief Manager- Compliance
Reporting to : Vice President, Legal and Compliance
Role and responsibilities:
- Ensuring effective implementation of Compliance Management Framework within an organization through timely implementation and monitoring of all regulatory requirements.
- Analysing and commenting on draft regulations and circulars issued by regulators.
- Managing regulatory change management by carrying out impact analysis of new laws and regulations and ensuring their dissemination and implementation by the various functions.
- Ensuring frame operational processes and policies in co-ordination with the respective functions.
- Apprising senior management on the status of regulatory compliances.
- Representing the Compliance function in various meetings and forums.
- Monitoring and assessing the compliance health of the company through periodic process reviews on a sample basis
- Handling escalated complaints effectively and implementing the Publication Review Process
- Building and enhancing compliance monitoring systems
- Conducting compliance risk assessment activity
- Ensuring Product & Marketing Compliance by participating in the process for designing, drafting, and reviewing of product documentation (Policy Document) and marketing collateral
- Advising the Distribution team on all legal and regulatory requirements and the expected levels of conduct
- Carrying out Distribution process reviews and conducting trainings for the Distribution Teams
- Carrying out branch reviews from a compliance standpoint and recommending imposition of sanctions if any.
- Providing advisory on queries from various functions and assist in drafting and reviewing of compliance communication and process.
- Reviewing the AML and CFT policy and process document on a regular basis.
- Enhancing systemic controls and developing systems to meet enhanced regulatory requirements.
- Drafting or reviewing contracts including providing advisory on the scope of services and commensurate commercials.
- Drafting or reviewing written statements, replies to notices and plaints.
- Representing the Company on various legal matters before the Ombudsman and consumer forums.
- Liaising with panel of advocates for litigation and legal matters.
- Providing interpretations and views on various legal issues.
- Interacting with the regulators and compliance teams of peer companies for relationship building.
- Typically a CS / LLB/ CA or a Graduate in Commerce.
- 8-10 years.
- Technical expertise and a strong understanding of applicable regulatory laws namely Insurance Laws, Prevention of Money Laundering Act and related laws, FEMA and applicable RBI regulations and other laws.
- Proficient in business understanding and providing advisory with a problem-solving approach.
- Good knowledge of systems, internal processes and policies.
- Ability to conduct surveillance and inspection.
Soft Skills :
- Multi-tasking with an ability to deliver under pressure.
- Ability to lead Projects and ensure efficient and timely delivery.
- Amicable and Assertive nature.
- Eye for detail and focused on accuracy.
- Proactive by nature.
- Good drafting and communication skills (written and verbal).