
Insurance Compliance Manager
1 day ago
As a key team member, the Principal Officer plays a vital role in ensuring compliance and operational excellence.
Key Responsibilities- Supervise activities to ensure all personnel are trained, skilled, and knowledgeable in insurance products.
- Manage applications for removal or addition of authorized personnel and verifiers.
- Ensure strict adherence to IRDAI guidelines and regulations.
- Submit timely material disclosures, regulatory returns, and information.
- Confirm annual compliance certification for adherence to regulatory provisions.
- Oversee insurance solicitation activities and ensure compliance requirements are met.
- Act as Single Point of Contact for inspections and compliance-related matters.
- Verify compliance of authorized personnel and ensure solicitation is carried out by authorized individuals.
- Resolve customer grievances promptly within 14 days.
Qualifications & Requirements:
- Bachelor's degree in any stream or professional qualifications (MBA, Actuaries) preferred.
- Training and Certification:
- 50 hours of training plus passing the prescribed IRDAI exam for non-professionals.
- 25 hours of training plus exam for recognized professionals.
- Meet additional regulatory requirements such as minimum capital, deposits, professional indemnity insurance, infrastructure, staffing, and fit & proper declaration.
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