Job Details

Compliance:

• Establish and implement a compliance framework to provide ongoing assurance relating to meeting regulatory obligations. Undertake quarterly compliance reporting to the relevant Audit, Risk and Compliance Committees
• Review and update compliance manuals and other compliance rules and policies on a regular basis
• Conduct compliance training for employees periodically
• Assist the local management with any enquiries on compliance and regulatory issues.
• Monitor India Branch’s compliance with applicable laws and regulations related to the insurance business and the policies of the Branches.
• Maintain contact with the regulators and trade associations; share best practice with other compliance professionals
• Manage the periodic reporting to the regulator on an ongoing basis.
• Collaborate with the Global Compliance team. Risk Management:
• Facilitates the process to manage, monitor and report business unit risks and controls.. Assist with the development and improvement of management reporting. This includes collating and analyzing the RCSAs across the India business. This also includes engaging with all department heads to review their assessments to provide meaningful insights and challenge.
• Assists in preparing business unit and related legal entity level reporting. Facilitates and coordinates with all necessary stakeholders on the preparation of comprehensive yet concise reporting for all necessary risk committees, boards, and other stakeholders across the India business.
• Risk Incident Management and Reporting – Coordinating and maintaining the collection and analysis of risk incidents in India including reviewing and following up actions items with owners to ensure appropriate closure of all items.
• Collaborate with the Asia Regional Enterprise Risk Management team. Quality Assurance Reviews
• Design, develops and performs quality assurance procedures and reviews and evaluates the effectiveness of internal control process. Supervises other colleagues assigned to their individual projects to ensure successful audit completions
• Recommends and submits to all levels of Management on identified corrections and needed control enhancements,
• And serves as a lead liaison for local, regional, global and external audits.
• Collaborate with the Asia Regional Internal Audit team. Acts as liaison for internal management, external auditors and external audit clients to promote positive relationships with all stakeholders. Performs other duties as assigned.

Requirements

• Bachelor’s degree with minimum or 6 +years’ experience in either compliance, internal audit or risk profiles in a (re) insurance Company. Good knowledge of Indian Companies Act 2013 and related legal regulations like Industrial Disputes Act, Income Tax Act, SEBI, Foreign Exchange Management Act etc.
• Clear understanding of the workings of the insurance regulations
• Demonstrated understanding of reporting requirements and practices
• Experience in leading the response to regulator audit
• Strong communication skills in English, both verbal and written;
• Candidate should be a qualified Company secretary, with added LLB would be preferred

Preferred qualifications/personalities:

• Project Management Skills
• Knowledge and/or experience in life insurance industry
• Qualities
• Team player
• Strong focus on driving results
• Strong focus on the customer
• Desire to learn
• Interest in working for an international company

• This position is responsible for facilitating all risk, compliance and quality assurance aspects of Organization.
• Responsible for facilitating the process relating to all compliance, quality assurance & risk management related matters in the India Market. Responsible for meeting all requirements within the insurance regulations, commercial regulations, supervisory guidelines and India branch and global policies.
• Reports to the CEO and Executive Committee of India Branch to ensure compliance, quality assurance & risk issues are brought to their attention and to discuss and assist in remediation of these issue on their behalf. Act as secretariat for the India Executive Committee, Audit and Risk Management Committee and Management Risk Committee.

Reference ID - JC//27032019//82715