Job Description

Career Opportunities
Position
Manager - Audit, Compliance & Risk management in Renewals and persistency
No. of Positions
1
Department
Operations- Renewals & persistency
Function
CRT
Reporting to
Chief Manager- Audit, Compliance & Risk management - Renewals & persistency
Band
4B
Location
90C, Gurgaon
Last Date of
Submission
Job Summary:

• Overall responsibility of Audit and compliance for Customer Retention - Communication, Payments & Journey Flows
• Also Setting up SIC's & governance dashboards for customer touchpoints & deliveries
• Focus on regular audits, risk assessment and identify potential compliance issues. Investigate compliance violations & report findings to management. Lead the EWG & MRC for process gaps. Attention to details and ability to work independently and manage multiple buckets.

This role will be at the forefront of executing to the strategic initiatives, change management, process improvement, creating new processes, new system enhancements, audit outcomes & observation closures along with data governance which enhance customer/seller experience significantly resulting in better business outcomes.
Key Responsibilities
Audit and compliance - 40%

• Carrying /conducting out independent and in-depth Audit compliance reviews for Payments, Communication & surrender processes
• Reporting out key outcomes on monthly basis along with preventive and corrective steps on key critical points.
• Manage Operational Loss Database for the respective function
• Ensuring monthly compliances to IRDAI reporting & COMS
• Perform periodic testing on control efficacy for controls deployed for material risks
• Monitoring all CRT Journeys and Identify any gaps in operational processes by performing impact assessments.
• Formulating process of tracking and closing compliance & open issues by close looping with with respective process owners.
• Reporting key compliance outages in management committees viz EWG & ORG.

Communication & Payments - 40%

• Creation of SIC's and tracking intent base and report errors
• Process Improvement after taking feedback from distribution/stakeholders.
• Aiding the automation of critical work flows
• Analyze data to establish the problem RCA and report on efficacy of implemented solutions.
• Collaborate with IT for any enhancement/Updation.
• Drive initiatives in line with company strategy to empower various interdepartmental teams like IT, BPMA and within department
• Collaborate with various stake holders like Enterprise Risk and IT team to ensure timely delivery of and completion of various initiatives
• Consistent follow up on initiatives launched to ensure 100% desired outcome

Project Management - 20%

• Process re-engineering to fix gaps highlighted/identified through/by customer/agent/distribution feedback
• Deploying need based customer/distribution communication
• Ensuring compliance to the applicable regulation;
• Ensuring regular review and governance mechanism with key stakeholders

Measure of Success:
Audit and compliance

• Audit rating

2 and going for 1. * Number of process improvement initiatives taken

• Automation of check points to ensure process health in place
• Timely completion of the review plan & risk assessment , Key risk identified & mitigation plan developed
• Timely updation of new regulatory task in COMs

Customer communication & Payments

• Successful implementation SIC's and monitoring
• Efficiency in tracking
• Cross functional Coordination
• Risk free process across CRT
• Must have a minimum of 2-5 years of experience in project/ program management.
• Knowledge/ Understanding of risk management
• Excellent in communication, document creation and presentation
• Good PR skills and able to get the work done from other depts.

Growth mindset and self-motivated
Desired qualifications and experience:

• Graduate/PG in Management preferred
• Must have a minimum of 4-5 years experience, of which at least 2-3 years should have been spent in Operations and / or Customer Service
• Experience of managing Operational risk, audit, governance
• Should have understanding of payments, automation, digital solutions, operational challenges and associated risks
• Should have held a managerial position for at least 2 years

Skills:
Sound Knowledge of front end Operations Model. Very Strong communication skills: Ability to express ideas clearly and persuasively. Execution ability; Effectiveness in planning and organizing activities of himself and team members; exceptional energy, drive and People Management Skills
Career Opportunities
Position
Manager - Audit, Compliance & Risk management in Renewals and persistency
No. of Positions
1
Department
Operations- Renewals & persistency
Function
CRT
Reporting to
Chief Manager- Audit, Compliance & Risk management - Renewals & persistency
Band
4B
Location
90C, Gurgaon
Last Date of
Submission
Job Summary:

• Overall responsibility of Audit and compliance for Customer Retention - Communication, Payments & Journey Flows
• Also Setting up SIC's & governance dashboards for customer touchpoints & deliveries
• Focus on regular audits, risk assessment and identify potential compliance issues. Investigate compliance violations & report findings to management. Lead the EWG & MRC for process gaps. Attention to details and ability to work independently and manage multiple buckets.

This role will be at the forefront of executing to the strategic initiatives, change management, process improvement, creating new processes, new system enhancements, audit outcomes & observation closures along with data governance which enhance customer/seller experience significantly resulting in better business outcomes.
Key Responsibilities
Audit and compliance - 40%

• Carrying /conducting out independent and in-depth Audit compliance reviews for Payments, Communication & surrender processes
• Reporting out key outcomes on monthly basis along with preventive and corrective steps on key critical points.
• Manage Operational Loss Database for the respective function
• Ensuring monthly compliances to IRDAI reporting & COMS
• Perform periodic testing on control efficacy for controls deployed for material risks
• Monitoring all CRT Journeys and Identify any gaps in operational processes by performing impact assessments.
• Formulating process of tracking and closing compliance & open issues by close looping with with respective process owners.
• Reporting key compliance outages in management committees viz EWG & ORG.

Communication & Payments - 40%

• Creation of SIC's and tracking intent base and report errors
• Process Improvement after taking feedback from distribution/stakeholders.
• Aiding the automation of critical work flows
• Analyze data to establish the problem RCA and report on efficacy of implemented solutions.
• Collaborate with IT for any enhancement/Updation.
• Drive initiatives in line with company strategy to empower various interdepartmental teams like IT, BPMA and within department
• Collaborate with various stake holders like Enterprise Risk and IT team to ensure timely delivery of and completion of various initiatives
• Consistent follow up on initiatives launched to ensure 100% desired outcome

Project Management - 20%

• Process re-engineering to fix gaps highlighted/identified through/by customer/agent/distribution feedback
• Deploying need based customer/distribution communication
• Ensuring compliance to the applicable regulation;
• Ensuring regular review and governance mechanism with key stakeholders

Measure of Success:
Audit and compliance

• Audit rating

2 and going for 1. * Number of process improvement initiatives taken

• Automation of check points to ensure process health in place
• Timely completion of the review plan & risk assessment , Key risk identified & mitigation plan developed
• Timely updation of new regulatory task in COMs

Customer communication & Payments

• Successful implementation SIC's and monitoring
• Efficiency in tracking
• Cross functional Coordination
• Risk free process across CRT
• Must have a minimum of 2-5 years of experience in project/ program management.
• Knowledge/ Understanding of risk management
• Excellent in communication, document creation and presentation
• Good PR skills and able to get the work done from other depts.

Growth mindset and self-motivated
Desired qualifications and experience:

• Graduate/PG in Management preferred
• Must have a minimum of 4-5 years experience, of which at least 2-3 years should have been spent in Operations and / or Customer Service
• Experience of managing Operational risk, audit, governance
• Should have understanding of payments, automation, digital solutions, operational challenges and associated risks
• Should have held a managerial position for at least 2 years

Skills:
Sound Knowledge of front end Operations Model. Very Strong communication skills: Ability to express ideas clearly and persuasively. Execution ability; Effectiveness in planning and organizing activities of himself and team members; exceptional energy, drive and People Management Skills