Experience: 9 - 10 Years
A. Position Overview
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
|
Reports To |
Assistant Vice President – Compliance |
|
Supervises |
Managers, Assistant Managers, Executive Compliance |
Job Dimensions
|
Geographic Area Covered |
PAN India (process management - operational compliance Compliance) |
|
Stakeholders Internal |
All User Departments (Operational Compliance adherence and reviews) |
|
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 |
E. Incumbent Characteristics
|
|
Essential |
Desired |
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Qualification |
LLB/CA/CS or equivalent |
|
|
Experience |
IRDAI regulations |
|
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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