Senior Regulatory Specialist

1 week ago


Tiruppur, Tamil Nadu, India beBeeCompliance Full time ₹ 9,00,000 - ₹ 12,00,000

Job Title: Compliance Officer

About the Role:
  • We are seeking a highly skilled and experienced Compliance Officer to join our team. The successful candidate will be responsible for ensuring that all regulatory submissions are periodically uploaded in the IRDA portal, post-concurrence with relevant stakeholders.
  • Aware of the process of submission of regulations, including new business submissions, schedules submissions, SP submissions, complaints submissions, financial statements submissions, and compliance certificate as applicable. Submit these to the regulator within stipulated timelines.
  • Maintain regulatory registers, track, align, ensure, and coordinate with respective business units and BIU teams for proper format and submission to IRDAI.
  • Communicate with regulators as per regulations, including branch opened and closed data, directorship changes, and regulatory charges levied.
  • Update the IIB Envoy Portal by uploading, tracking, and reviewing salespersons and SP details periodically.
  • Ensure all applicable licenses are availed, procured, and renewed within guidelines and timelines. Coordinate with relevant stakeholders on licensing applicability and repository maintenance.
  • Issue NOC for exited SPs and detag PAN from IRDA and Envoy, along with record keeping.
  • Apply for telemarketing licenses as per guidelines and submit regulatory data to IRDAI as per stipulated guidelines.
  • Renew IRDAI CA license, PO, ISNP, Envoy, and other licenses, tracking and renewal along with PO and relevant stakeholders.
  • Maintain the regulatory checklist, tracking IRDAI data maintenance, registers, timely submissions, grievances, etc., completely with stakeholders.
  • Coordinate with finance, product teams, and insurers for reconciliation sign-off every month, ensuring gaps identified in recon are followed up.
  • Maintain agreements of insurers, SLAs of insurers, and commission structures of insurers.
  • 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.
  • Provide audit checklists and coordinate with functional audit teams and track audit resolutions for branches.
  • Provide AML checklists to the compliance team of MFL and coordinate and track AML cases with internal and external stakeholders.
  • Bookkeep litigation of insurance cases, open cases, and update the regulator as needed.
Requirements:
  • 4-8 years in a similar domain.

The ideal candidate should possess excellent communication and problem-solving skills, strong attention to detail, and the ability to work under pressure. He/She should be well-organized, proactive, and able to prioritize tasks effectively.



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