Compliance Manager
4 days ago
Role:
Regulatory Reporting & Compliance Manager
Job Title:
Manager
Work Experience:
5 years +
Education:
Graduate
Department:
Regulatory Reporting & Compliance
Work location:
Goregaon (East), Mumbai
The Regulatory Reporting & Compliance Manager is responsible for ensuring the company's full compliance with all regulations, guidelines, and directives issued by the Insurance Regulatory and Development Authority of India (IRDAI). This role involves the preparation, review, and timely submission of various statutory returns and reports to IRDAI. The manager will serve as a key point of contact for regulatory queries, monitor changes in regulations
Key Responsibilities
IRDAI Reportin
g:
Prepare and file all mandated IRDAI returns, including financial, solvency, policyholder, and operational reports, within the specified deadlines
Ensure the accuracy and completeness of all data submitted in the returns, reconciling with internal financial and operational records
Liaise with various departments (e.g., Finance, Actuarial, Operations, IT) to gather necessary data and information for reporting
Regulatory Compliance & Advisory
Stay updated on all new and amended IRDAI regulations, circulars, and guidelines
Analyze the impact of regulatory changes on the company's business operations and reporting requirements
Audits and Inspections
Respond to queries and data requests from auditors and regulators in a timely and accurate manner
Internal Communication & Training
Prepare and present reports to on the company's compliance status
Qualifications and Skills
Experien
ce: In a regulatory compliance or reporting role with insurance industry
Technical Skills
In-depth knowledge of the IRDAI Act, 1999, and various IRDAI regulations (e.g., Solvency, Expenses of Management, etc.
Proficiency in using regulatory reporting software and to
Soft Skills
- Excellent attention to detail and a high degree of accuracy
- Strong analytical and problem-solving abilities
- Exceptional communication and interpersonal skills to collaborate with multiple stakeholders
- Ability to work independently and manage multiple deadlines effectively.
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