Experience: 9 - 10 Years
Join Tata AIA Life Insurance, a leading and fastest-growing life insurance provider in India, established in 2001 as a joint venture between Tata Sons Pvt. Ltd. and AIA Group Ltd. Our company embodies a legacy of trust, integrity, and excellence, combining Tata's esteemed leadership with AIA's extensive pan-Asian expertise. At Tata AIA, our vision is to be the pre-eminent protection provider enabling dreams and inspiring healthier, happier lives.
We foster a culture of innovation, inclusivity, and continuous learning, offering dynamic career growth opportunities and a supportive work environment. Recognized as a "Great Place to Work" and recipient of the Kincentric Best Employer Award, we are committed to employee satisfaction and holistic well-being. Our core value, "People - Our Core," emphasizes our dedication to inspiring our employees to be and deliver their very best. Our aim is to attract, hire and develop highly capable leaders who are just, fair, ethical, and accountable for their actions. We strive to provide our employees with the right training, technology, equipment, resources, and guidance to perform their job effectively. Our promise to you is to provide for a diverse, equitable, and inclusive work environment, where each employee is valued as an individual and treated with respect, care, and compassion.
Fuel your future with us, find your wings, and S.O.A.R. – Shape opportunities, Optimize your potential, Accomplish meaningful work, and Reap holistic growth.
A. Position Overview
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Position Title |
Senior Manager Compliance |
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Department |
Compliance |
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Level/ Band |
501/Senior Manager |
Role Summary:
· Providing extensive legal search and evaluating industry benchmark to opine on various business initiatives and legal/regulatory provisions;
· Responsible for dissemination of the regulatory notifications, carry out impact analyses on new laws and ongoing monitoring of implementation;
· Maintaining repository of all regulatory changes to ensure its timely availability;
· Providing legal advise on issues pertaining to implementations of laws;
· Providing well researched inputs to shape new laws and regulations within prescribed timelines;
· Partnering with business to implement new laws, regulations, initiatives and distribution tie-ups smoothly;
· Ensuring proper drafting of response to Show Cause Notice issued by the IRDAI and other statutory authorities within prescribed timelines;
· Partnering with various functions to implement initiatives and negotiate new distribution tie-ups smoothly as per timeline;
· Ensuring proper review of internal operational processes set forth by different functions with the objective to mitigate the risk of regulatory noncompliance and litigious situations by setting things first time right;
· Spreading Compliance awareness across the functions by imparting training on new laws and regulations;
· Supporting business by proactively participating in different meetings and giving inputs from Compliance point of view.
B. Organizational Relationships
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Reports To |
Assistant Vice President – Compliance |
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Supervises |
Managers, Assistant Managers, Executive Compliance |
Job Dimensions
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Geographic Area Covered |
PAN India (process management - operational compliance Compliance) |
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Stakeholders Internal |
All User Departments (Operational Compliance adherence and reviews) |
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Stakeholders External |
IRDA (Reporting, policy clarifications) External Advisory (investigations) AIA (reporting) |
C. Key Result Areas
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ø Enabling Business with cutting edge legal and compliance support
· Extensive legal search and evaluating industry benchmark to opine on various business initiatives. · Disseminate regulatory notifications, carry out impact analyses on new laws and ongoing monitoring of implementation · Maintain repository of all regulatory changes to ensure its timely availability · Partnering with business in implementing new laws and regulations · Support business teams in designing sales models which are in compliance with the regulations · Structuring and negotiation of various contracts entered into with distributors (agents, corporate agents, brokers, web aggregators, insurance marketing firm etc) and ensuring that the same are in line with regulatory requirements · Advise and provide clarifications to operations personnel on the regulatory provisions so as to ensure that the processes are modeled and executed in line with the same · Structure the derivative contracts as per the requirements of the investment department · Partnering with internal department in all matters requiring compliance support · Coordinating with the regulator on various issues to enable business team to find quick solutions · Keeping in view of the business requirements and industry view, provide recommendations to IRDAI on exposure drafts · Impart training to employees as well as to channel partners on Compliance policies, standards of the company, new laws and regulations issued by the Authority
ø Implementation of processes and systems and leveraging technology to streamline the function’s routine activities and also facilitate easy tracking
· Drive automation project for Compliance Areas · Conduct follow-up and review to ensure gaps identified are remediated within the agreed timelines |
D. Skills Required
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Technical |
· Regulatory Requirements: knowledge and understanding of IRDAI Regulations · Interpretation of Regulations · Analytical Thinking and Judgment: Ability to reach decisions by using the information systematically; ability to interpret complex concepts and cause and effect relationships. · Company & Industry Know How: knowledge and understanding of the organization & industry. · Drafting & Documentation Skills: Good Documentation skills for record maintenance · Negotiation Skills: Effectively exploring alternatives to reach outcomes that gain the support and acceptance of all parties. · Subject Matter Expertise: Has complete domain knowledge. · Connecting with Others: Ability to effectively bring together diverse teams to jointly create results |
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Behavioral |
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Essential |
Desired |
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Interpersonal skills |
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Communication skills |
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Creative thinking skills |
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Supervising / Leadership skills |
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Teamwork Skills |
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Influencing skills |
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Relationship Building skills |
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Decision making skills |
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E. Incumbent Characteristics
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Essential |
Desired |
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Qualification |
LLB/CA/CS or equivalent |
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Experience |
IRDAI regulations |
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Disclaimer:
Tata AIA Life Insurance does not charge any fees from candidates during the hiring process. If the application aligns with our requirements, you may be contacted for further steps. Verify job offers through official Tata AIA communication channels to avoid fraud. The job description is the sole property of Tata AIA Life Insurance. The content of this JD is confidential, and unauthorized changes or reproduction are forbidden. To know more about Tata AIA Life, click on the weblink:
Source: Tata AIA Life Insurance careers — Read the original posting and apply
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Tata AIA Life Insurance is an employer in the Insurance sector with operations in India. This is a directory listing maintained by Kaam Ki Khoj so that candidates can find the organisation; it is not an official company page and Kaam Ki Khoj is not a... Read More
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