Vice President - Legal - LLB/CS - BFSI/Insurance/FMCG/Retail/Telecom

Position- Vice President Legal

Reporting to Head of Legal - Corporate Vice President

Job Summary :

Corporate Advisory :

- Providing compliant solutions to Business Proposals, Providing opinions on matters as per the requirements of the business from time to time. Partnering business in implementing new initiatives.

Partnering with business teams in :

- Negotiating and finalizing variety of commercial contracts

- Conducting due diligence on distributors, related party transactions and service providers

- Drafting policies for the Company.

Advise on issues of Corporate Governance. Conducting Impact analysis of new laws, Impact of Strategic Orders of Courts /Orders of IRDAI on other life insurance Companies, Provide legal advice to business on Implementation of different business models.

Compliance Matters :

- Assisting Compliance on recommendations for framing regulations by the regulator, preparing replies to show cause notices; Assisting Compliance in devising compliant processes; Interpreting applicable laws for devising compliance policies and for devising processes; Conducting due diligence on distributors and service providers.

Representing legal views in different internal and forums :

- Representing legal in various internal and external committees such as Risk Committee, Ethics Committee, Internal Complaints Committee etc., giving opinions that not only protect the company form any legal risk and at the same time promote business. Provide training to internal business users on different areas of interest.

Regulatory :

- Making representations to the Regulator on strategic business proposals such as e-app; investment by Company on immovable property, surrender retention initiatives.

- Maintaining relations with the Regulator and partnering with it to implement initiatives like standardization of product contract templates, preparing base notes for the Regulator to devise regulations under the Insurance Act etc.

New Channels of Distribution including eCommerce :

- Providing legal advisory to new channels of distribution, drafting templates and negotiating on the agreements. Provide legal support in various areas like data protection, cyber laws, TRAI regulations, and distance marketing regulations issued by the Regulator from time to time.

Vetting Communication :

- Reviewing communication to agents, drafting customer complaints that are escalated to the Regulator, reviewing communication to the policyholders.

Product Management Group :

- Assisting Product Management Group in finalizing the product contracts, researching on regulations, understanding the existing clauses of the policy contracts vis-a vis the F&U provisions.

Process and Quality Oriented :

- Making the department more process oriented and using technology and quality tools to improve efficiency and effectiveness of the overall legal department.

Coordinating with External Counsels :

- Work with external legal counsels on specific matters ranging from litigation to expert advice requests.

Key Responsibilities :

Responsibilities % :

- Partnering with business to help the company devise new initiatives and distribution tie-ups

- Provide well researched inputs to shape new laws and regulations to help the industry and the company's orderly growth

- Provide effective and well researched legal advice to business

- Document the learning's and institutionalize a knowledge bank

- Sensitize business on changes in laws, regulations, court rulings impacting business and help the business to remain compliant at all times

- Provide legal support in company's expansion plans

35% :

- Provide quality advice to business in simple language for easy comprehension

- Partnering with operations to represent IRDAI in initiatives undertaken by them in the interest of customers

- Partnering with Business to ensure that any adverse litigation order should not affect the brand

25% :

- Development of team members, Identification and fulfillment of training needs, Creating retention plan

- Providing them timely feedback on areas of improvement

- Networking with senior management and industry professionals

- Drive Cross functional collaboration with Compliance and Regulatory teams

- Build a culture of transparency

- Provide training to business users on different legal areas

- Represent legal in different committees like Risk, Ethics and Internal Complaints Committee

20% :

- Support initiatives to implement compliance culture in the Company.

- Partner with Compliance to respond to Show Cause Notices issued by IRDA and other statutory authorities

- Initiate/ carry forward projects to make the department more quality, technology and process oriented.

- Drive plain English usage across the contracts and legal correspondence

- Regular update to the Head of Legal on the status of the ongoing work 20%

Measures of Success :

Key Relationships (Internal /External) :

Internal : Partnership Distribution, Actuaries, Product Management Group, Operations, Business Development, Finance and Group Business.

External : External Counsel, Industry members and the Regulator

Key competencies/skills required :

- Exceptional written and verbal Communication / drafting skills

- A deep understanding of the relevant laws affecting business

- Sharp Legal Acumen, research orientated

Desired Qualifications and Experience:

- Essential LLB

- Preferably CS from Institute of Company Secretaries of India

- Total work experience of 12-14 years. An experience of having worked in different areas of law whether in-house or in law firm is desirable.