Manager - Contract Compliance

7 months ago

Gurugram, India Sun Life Full time

Job Description

:

Role: Manager/Asst. Manager, Governance, Risk & Compliance

Group Benefits (GB) is one of the largest Canadian business units within Sun Life. We provide a full range of group benefits products and services to our Clients and benefit plans to plan sponsors. This ranges from small businesses to very large, nationwide employers. Plan sponsors provide benefits coverage to plan members and their employees and are the "end consumers" of the plans on offer. Products and services are grouped into the segments of National Accounts, Corporate Accounts - Sun Solutions Mid Market & Sun Advantage Small Markets and tailor our plans and actions accordingly.

Group Retirement Services (GRS) offers a wide range of products and services to meet the unique needs of our plan sponsors and plan members. To be competitive, service providers go above and beyond traditional recordkeeping and risk management solutions. GRS stands apart by creating and delivering an exceptional member experience by offering integrated solutions that make saving for retirement easy. We’re leading the Canadian industry (#1 in market share) in providing Group retirement services.

Sun Life Global Solutions (SLGS) is a global in-house shared services center for Sun Life businesses across the globe. The term ‘SLGS’ is collectively used for its two centers in India & Philippines. SLGS has achieved scale and operational maturity, with 2000+ employees organization supporting insurance processes across Canada & U.S. which covers Business Processing and Client Care Centre (CCC i.e. voice services) across the insurance lifecycle for individuals and group businesses.

The Manager/Asst. Manager – Governance, Risk & Compliance is a key contributor to the success of the Canada Group Benefits (GB) and Group Retirement Services (GRS). This Manager/Asst. Manager role will be responsible to identify and collaborate with key stakeholders across functions to setup process to fulfil custom MSAs obligations and requirements. The individual will also be required to develop the overall governance framework around obligations in collaboration with GB/GRS team and multiple stakeholders (Risk, Legal, infosec etc.).

This role is an opportunity for a risk and compliance professional with strong knowledge of contract conformance structure, requirements and deliverables. Reporting to the Sr. Manager - Governance Risk & Compliance, SLGS, the individual will also be accountable for regular tracking, monitoring and reporting of custom MSA contractual obligations and deliverables.

Band: 6.1

Reporting into: Sr. Manager – Governance, Risk & Compliance

Accountability

Understand Contractual terms and the existing framework around obligations related to New/Existing custom MSA contracts Review the contractual terms (specifically with respect to Privacy provisions) on the customer agreements and provide recommendation (or modification to custom clauses) in line with legislative/ regulatory requirements and SunLife’s policies and procedures. Identify and collaborate with key stakeholders to setup process to fulfil custom MSAs obligations and requirements. Documenting, tracking, and monitoring of all obligations for corporate agreements to ensure SunLife's compliance with the contractual requirement. Supporting the team on the Contract Conformance queries raised by the corporate client or Business Development team. Set up overall governance framework around obligations in collaboration with GB/GRS team and multiple stakeholders (Risk, Legal, infosec, Business Development, Proposal, etc.) Monitor contract performance, identify potential risks or issues, and take appropriate action to mitigate risk.

• Interpret contractual obligations/ directives and global / regional / market level policies &

processes and integrate within the current practices.

Responsible for developing and maintaining Risk Control Self-Assessments (RCSA), risk assessments and running the quarterly attestation process across the area of responsibility. Design and develop assurance and attestation process to certify SunLife’s compliance and assure satisfaction on the terms and conditions agreed with corporate clients.

Eligibility & Functional Competencies

A minimum of 8-12 years’ experience in Governance, Risk and Compliance or internal auditing, within the financial services/insurance sector. Firm working knowledge of insurance processes and its lifecycle. A recognized professional insurance certification (e.g. LOMA/Licentiate etc.) is preferred. Working Knowledge on Contractual reviews, Contract negotiation, Compliance Management Framework, Contract drafting, etc. Knowledge of Risk, Privacy, Fraud and Anti Money Laundering (AML) Ability to translate contractual obligations and related requirements into business impacts, compliance elements and regulatory risks. Legal/ Internal Audit Experience/Internal Compliance Testing Experience is a plus.

Competencies (Behavioral)

Excellent verbal and written communication skills, with strong interpersonal skills Self-motivated and independent; Excellent relationship building skills as part of a team and with persons at all levels of the organization Analytical thinker with strong conceptual and problem-solving skills; Organized and detail-oriented with the ability to make sound judgments; Experience in managing change in a cross-functional environment and operate effectively under pressure. Ability to resolve issues creatively, effect change, and execute in an accelerated manner Excellent planning and organization skills and the ability to deal with complex issues Experience working in a client-facing, matrix, project-based assignments. Maintain knowledge currency (trends and business/operating models) and an understanding of the digital business paradigm at a business level

People Management

Display integrity and composure while dealing with multiple senior stakeholders & functional leaders Solve problems and analyze issues & build insightful story telling for driving improvements Communicate powerfully and prolifically Collaborate and promote teamwork Build relationships & diverse, equitable and inclusive teams

About Sun Life

Sun Life is a leading international financial services organization providing insurance, wealth, and asset management solutions to individual and corporate Clients. Sun Life has operations in a number of markets worldwide, Head Quartered in Canada. Other Location include the United States, Ireland, Business in Asia - Hong Kong, Philippines, Indonesia, Singapore, Vietnam, Malaysia, and Bermuda. SLF also operates its JV in India & China.

Job Category:

Compliance

Posting End Date:

26/06/2024

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