Reports to: Sr. Vice President - Taxation, Compliance & Secretarial
Background:
The Company’s business is primarily regulated by the Insurance Regulatory & Development Authority (IRDA). The Authority regulates, promotes and ensures orderly growth of the insurance business in India.
The Company looks upon the Compliance department to provide timely support to ensure business growth whilst at the same time managing compliance risk.
Key expectations from the role:
- Assist the Head - Taxation, Compliance & Secretarial in formulation of the Compliance program, and reviewing regular sign-offs obtained from relevant stakeholders
- Provide support to business to ensure that they establish appropriate arrangements for meeting regulatory obligations and high standards of conduct of business, in accordance with standards
- Keep the Sr. management, officers and staff informed of new laws and regulations affecting the Agency, or changes in legislative requirements applicable to the operations of the business unit. Apart from this should also ensure that he maintains and updates the compliance manual
- Review processes for adherence to Complaince requirements before implementation including oversight over sales practices and marketing & advertising content
- Assistance in liaising with regulators
- Responding to routine queries regarding applications of regulations
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