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Chief Compliance Officer
3 weeks ago
This is an exciting opportunity for a seasoned professional to lead the insurance operations team.
- Minimum 3 years experience in insurance operations or related field required.
The selected candidate will be responsible for supervising and ensuring compliance with all regulations and laws governing insurance operations.
- Supervise and monitor the activities of the corporate agent; ensure that all specified people are trained, skilled, and knowledgeable in insurance products.
- File applications for removal or addition of specified persons and authorized verifiers.
- Ensure strict compliance with regulations in both letter and spirit.
- Submit material disclosures, regulatory returns, and other information to the relevant authorities in a timely manner.
- Submit annual compliance certification, confirming adherence to all regulatory provisions.
- Oversee insurance solicitation activities and ensure all compliance requirements from specified persons (SPs) are met.
- Act as the single point of contact for inspections and other compliance-related matters with the relevant authorities.
- Verify compliance of SPs and ensure solicitation is carried out only by authorized persons.
- Ensure all customer grievances are addressed appropriately and resolved within 14 days.
Qualifications & Requirements:
- Education: Bachelor's degree in any stream or professional qualifications preferred – III, Actuaries, CII London, IIRM, ICAI, ICSI, CFA/CAIIB).
- Training & Certification:
50 hours of training + passing the prescribed exam (if not holding a professional qualification).
25 hours of training + exam for recognized professionals.
Certification valid for 3 years.
- Must fulfill additional regulatory requirements such as minimum capital, deposits, professional indemnity insurance, infrastructure, staffing, and fit & proper declaration.
Key Skills:
- Strong knowledge of regulations and insurance compliance framework.
- Leadership and supervisory skills.
- Excellent communication and reporting abilities.
- Customer grievance handling and resolution.
- Ability to coordinate effectively with regulatory authorities.