Job Description

:

Position
Asst Manager/ Manager
Function
Compliance
Department
Compliance
Band
Reporting to
Senior Manager - Compliance
Location
Mumbai
Job Summary:
The position supports Compliance function in the organization by providing compliance assurance support, including
xc3xb8 Keeping yourself up to date with all new laws / regulations applicable to an Insurance Company
xc3xb8 Ensuring effective interpretation and drafting of actions for implementation of new laws by cross functional teams (CFT)
xc3xb8 Holding good communication and interpersonal skills
xc3xb8 Ensuring robust coordination and closures of actions arising from regulations/new laws
xc3xb8 Ensuring 360 degree / comprehensive closure of actions with implementation of a robust and effective governance process
xc3xb8 Ensuring proper documentations and management of automated processes and systems to ensure a robust regulatory implementation process
xc3xb8 Ensuring comprehensive certifications from CFT and management on an ongoing basis
xc3xb8 Ensuring testing of implementation and closure of any identified gaps on speedy basis
xc3xb8 Effective presentation preparation and delivery skills
xc3xb8 Holding good problem-solving skills while providing regulatory and legal advisory backed with effective regulatory reasoning, rationale and industry /market practice
xc3xb8 Maintaining repository of all regulatory changes and advisories to ensure its timely availability.
xc3xb8 Supporting in new business and Digital initiatives by proactively participating in regular meetings and giving inputs within the regulatory framework
xc3xb8 Support business team by working on multiple projects, ensuring the Digital Processes, marketing material are in line with internal guidelines and regulatory compliances.
xc3xb8 Supporting business and operations team by conducting review of Digital Processes, Marketing material and customer communications to ensure appropriate legal and operational protection exists.
xc3xb8 Perform regulatory research, monitor new and amended regulations to evaluate impact on existing and new business initiatives.
Key Responsibilities
xc3xb8 Extensive legal search and evaluating industry benchmark to opine on various regulatory queries and business initiatives.
xc3xb8 Advise and provide clarifications to business on the regulatory provisions so as to ensure that the processes are modeled and executed in line with the same.
xc3xb8 Partnering with internal department in all matters requiring regulatory support
xc3xb8 Co-ordinating with the regulator on various issues to enable business team to find quick solutions
xc3xb8 Keeping the business requirements and industry view in mind and providing recommendations to IRDAI and other statutory Authorities on exposure drafts
xc3xb8 Vetting and approving the digital process and related insurance advertisements within the regulatory framework and as per internal guidelines.
xc3xb8 Impart training to employees as well as to channel partners on legal and compliance policies, standards of the company, new laws and regulations issued by the Authority
Knowledge and Skills
xc3xb8 Analytical Thinking and Judgment: Ability to reach decisions by using the information systematically; ability to interpret complex concepts and cause and effect relationships
xc3xb8 Company & Industry Know How: Knowledge and understanding of the organization & industry
xc3xb8 Regulatory Requirements: Knowledge and understanding of regulatory requirements and how to meet these on a day to day basis.
xc3xb8 Drafting & Documentation Skills: Has the ability to draft legal documents; Good Documentation skills for record maintenance
xc3xb8 Negotiation Skills: Effectively exploring alternatives to reach outcomes that gain the support and acceptance of all parties
xc3xb8 Subject Matter Expertise: Has complete domain knowledge
xc3xb8 Connecting with Others: Ability to effectively bring together diverse teams to jointly create results
About Company:
Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company, formed by Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tatas pre-eminent leadership position in India and AIAs presence as the largest, independent listed pan-Asian life insurance group in the world spanning 18 markets in the Asia Pacific region. Tata AIA Life has written retail new business weighted premium of Rs. 2,692 crore for the financial year 2019-20. For the same period, the 13th month persistency of the company was at 89.10% and, the individual death claims settlement ratio was 99.06%. One of the fastest growing companies in the Life Insurance sector, Tata AIA Life is now ranked at no. 5, based on individual weighted new business premium.