Corporate Regulatory Compliance Specialist

Job Title: Compliance Officer

Description:

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• Ensuring all regulatory submissions are periodically uploaded in the IRDA portal after concurrence with relevant stakeholders, aligning with corporate governance policies.">
• Aware of the process of submission of regulations, including new business submissions, schedules submissions, SP submissions, complaints submissions, financial statements submissions, and compliance certificates as applicable. Submits these to the regulator within stipulated timelines, adhering to industry standards.">
• IIB Envoy Portal Update – Upload, track, and review salespersons and SP details periodically, ensuring accuracy.">
• IRDAI CA/ISNP/Envoy License Renewal – Ensure all applicable licenses are availed, procured, and renewed within applicable timelines. Coordinate with relevant stakeholders on licensing applicability and repository maintenance, fostering a culture of compliance.">
• NOC issuance & Detagging Pan in IRDAI portal – Issue NOC for exited SPs and detag PAN from IRDA and Envoy, along with record keeping, safeguarding sensitive information.">
• Telemarketer License – Apply for telemarketing license as per guidelines and submit regulatory data to IRDAI as per stipulated guidelines, staying compliant.">
• Renewal of IRDAI CA license, PO, ISNP, Envoy, and any other licenses to be kept track of and renewed along with PO and relevant stakeholders, demonstrating commitment to regulatory adherence.">
• Regulatory Checklist maintenance – Track the regulatory checklist (IRDAI Data maintenance, Registers, timely submissions, grievances, etc.) completely with stakeholders, promoting a culture of excellence.">
• Reconciliations Tracking – Coordinate with finance, product teams, and insurers for reconciliation sign-off every month. Follow up on gaps identified in recon, driving continuous improvement.">
• Agreements maintenance – Maintain and track agreements of insurers, SLAs of insurers, Commission structure of insurers, fostering strong relationships.">
• Grievance tracking/Data maintenance – Track grievances from the grievance team, insurers, and coordinate resolution with insurers, business, product, and branch teams. Maintain the grievance register as per regulatory requirements, prioritizing customer satisfaction.">
• Audit Initiation for Branch & Tracking – Provide Audit Checklist and coordinate with functional audit teams and track audit resolution for branches, ensuring accountability.">
• Compliance check on AML – Provide the checklist to the compliance team of MFL and coordinate and track AML cases with internal and external stakeholders, upholding AML standards.">
• Legal/Litigation Tracking – Bookkeeping the litigation of insurance cases, open cases, and updating the regulator as needed, demonstrating proactive risk management.">
• Any other activity delegated by management & supervisor from time to time, embracing adaptability.">

Required Skills and Qualifications:

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• 4-8 years of experience in a similar domain, having a proven track record of regulatory compliance.">

Benefits:

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• Opportunity to work in a dynamic environment, contributing to a culture of excellence.">
• Chance to develop skills in regulatory compliance, risk management, and customer satisfaction.">
• Collaborative work environment, fostering strong relationships with stakeholders.">

Others:

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• This role requires a high level of autonomy, strategic thinking, and problem-solving skills.">
• The successful candidate will have excellent communication and interpersonal skills, being able to articulate complex concepts clearly.">
• Aptitude for learning and adapting to changing regulatory environments, recognizing opportunities for growth.">