Insurance Compliance Manager

3 days ago

Coimbatore, Tamil Nadu, India beBeePrincipal Full time ₹ 15,00,000 - ₹ 20,00,000
Job Overview

The Principal Officer will oversee the activities of the Corporate Agent, ensuring compliance with regulatory requirements and IRDAI guidelines.

  • Supervise and monitor the activities of the Corporate Agent
  • Ensure training, skills, and knowledge in insurance products for specified persons
  • File applications for removal or addition of specified persons and Authorized Verifiers
  • Ensure strict compliance with corporate agency regulations
  • Submit material disclosures, regulatory returns, and information to the Authority
  • Oversee insurance solicitation activities and ensure all compliance requirements are met
Responsibilities

The Principal Officer will be responsible for:

  1. Verifying compliance of specified persons and ensuring solicitation is carried out only by authorized persons
  2. Acting as the Single Point of Contact for inspections and other compliance-related matters with the Authority
  3. Ensuring all customer grievances are addressed appropriately and resolved within 14 days
Requirements

To be successful in this role, you will need:

  • Bachelor's degree in any stream or MBA/ professional qualifications preferred (III, Actuaries, CII London, IIRM, ICAI, ICSI, CFA/CAIIB)
  • Training & Certification: 50 hours of training + passing the prescribed IRDAI exam (if not holding a professional qualification). 25 hours of training + exam for recognized professionals. Certification valid for 3 years
  • Fulfill additional regulatory requirements such as minimum capital, deposits, professional indemnity insurance, infrastructure, staffing, and fit & proper declaration
Key Skills

The ideal candidate will have:

  • Strong knowledge of IRDAI regulations and insurance compliance framework
  • Leadership and supervisory skills
  • Excellent communication and reporting abilities
  • Customer grievance handling and resolution skills
  • Ability to coordinate effectively with regulatory authorities

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