Compliance Manager - Insurance

Compliance Manager Insurance (Corporate Agency)

Location:

Experience Required:

Role Overview

Looking for a seasoned Compliance Manager Insurance to oversee regulatory compliance for its life, general, and health insurance distribution business. The role is pivotal in ensuring full adherence to IRDAI regulations, maintaining compliance hygiene across internal processes, and managing regulatory engagement.

Key Responsibilities

Product & Communication Compliance

• Evaluate all insurance products (life, general, and health) being launched or modified, ensuring alignment with IRDAI Corporate Agency Guidelines and applicable insurance laws.
• Review and approve customer-facing communications, product marketing materials, advertisements, and disclosures.
• Ensure arms-length conduct is maintained with all group companies and insurance affiliates.

Data Privacy & Inter-Company Governance

• Ensure data privacy obligations are met for customer data within group companies.
• Document and monitor inter-company data-sharing arrangements.

Compliance Testing & Monitoring

• Conduct compliance testing of insurance processes to ensure adherence.
• Recommend corrective actions and track closure of non-compliances.

Compliance Self-Certification

• Drive timely completion of compliance self-certifications by process owners.
• Validate evidences submitted for accuracy and alignment.

Regulatory Correspondence & Reporting

• Prepare Compliance Views / Position Notes.
• Ensure accurate and timely regulatory submissions to IRDAI.
• Handle IRDAI correspondence, inspections, and clarifications.

Audit Management

• Liaise with internal, statutory, and regulatory auditors.
• Ensure timely closure of audit observations.

Core Requirements

• Minimum 7 years experience in insurance compliance, covering life, general, and health segments.
• Strong knowledge of IRDAI Corporate Agency Guidelines, Advertisement Guidelines, and Data Privacy laws.
• Proven skills in compliance frameworks, audit handling, and regulatory interactions.
• Excellent drafting and interpretation skills for memos, submissions, and control assessments.

Preferred Qualifications

• Bachelors/Masters degree in Law, Commerce, or related field.
• Certifications in insurance laws or compliance are preferred.