AU Small Finance Bank

Manager - Bancassurance Internal ControlOnly person with relevant experience in Insurance Audit & Compliance should applyBrief Objective of Position & Its Contribution to the BusinessResponsible for 1st line of defence for Bancassurance Vertical:- Established a sound regulatory compliance framework, regulatory engagement & policy advocacy program.- Build strong regulatory engagement & direct liaison with all functions and insurance partners- Draw a detailed and efficient process for implementing all applicable regulations by RBI, IRDAI, PFRDA & SEBI for Insurance and Investment Business- Always ensure and be ready with all functions for regulatory compliance and audit.- Represent the Bank in various industry bodies of digital, fintech other working groups on regulatory policies, advocacy programs.- Create regulatory knowledge for new and renewals of licenses and related registrations.Key Responsibilities:- Ensure Compliances pertaining to Insurance, NPS, PFRDA, PMJJBY, PMSBY, DEMATE.- Ensure IRDA SP & POSP Certification as per regulatory norms- Implement all regulatory framework & policies & internal governance policies along with all insurance partner in sales and service.- Liaison with Regulators & Industry bodies for regular updates- Evaluate the impacts of any new regulation, decision, ability to anticipate issues and proactively create a solution for open gaps and risks- New product & Process approvals Ensure applicability of law like data protection, new license regulations and structure/reporting.- Build process around regulatory compliance requirements- New product & Process approvals Ensure applicability of law like data protection, new license regulations and structure/reporting.- Design and implement Sales Process Reviews across all channels - DST, Telesales, Web Sales, Group Insurance, POS channels.- Conduct Compliance Training Sessions in New Employee Orientation in Bancassurance- Set up complete monitoring and tracking program, checklist rollout, Action trackers and reports- Review all marketing collaterals, literature, factsheets, communiques, and communications- Regulatory reporting - Filings monthly / Quarterly report reports, Annual Audit Certification, and independent audits- Monitoring of AML / FATCA compliance and its reporting- Conducting and arranging Committee meetings - valuation committee, investment committee- Liaison with Internal auditors and statutory auditors and effectively handling SEBI, IRDA, PRFDA inspections- Working with Company Secretary to ensure Compliance with ROC procedures- Preparation of required material for board meetingsJob Specification (Competencies required to perform the role):Qualifications : Chartered Accountant/ MBA Finance (addl. qualification of CS /LLM will be added advantage.- Minimum 3-5 years post-qualification in regulatory, legal and compliance function with direct engagement with financial sector regulators like RBI, SEBI, IRDAI, PFRDAI.- In-house regulatory or compliance portfolio of financial services company handling inspection and audit by regulators, direct engagement with regulators.Functional Competencies :- Advance Excel with VB and Macros, Reporting skills and Presentation- Committed and ready to work under constraints/ pressure.- Liaison skills and ability to participate in industry associations, fintech committees and place the company's viewpoint on regulatory enablement and issues.- Demonstrated ability to handle regulatory inspections and audits independently.- High degree of professional ethics and integrity, Excellent judgement and analytical skills, good interpersonal skills- Strong & Effective communication and influencing skillsBehavioural Competencies :- Self-Driven & Proactive- Result Oriented with a positive outlook- Well-presented and business-like - Good speaking & writing skills- Stable career history, Exceptional work ethic & drive, Willing to travel (ref:iimjobs.com)