Compliance Officer

Officer - Compliance Insurance Regulatory Submission

Key Responsibilities

• Regulatory Submissions – Ensuring all the regulatory submissions are periodically uploaded in IRDA portal post concurrence with relevant stakeholders (Ops, customer care, business products, finance, PO & Insurers)
• Aware of the process of submission of regulations which include new business submissions, schedules submissions, SP submissions, complaints submissions, financial statements submissions, compliance certificate as applicable and to submit the same to regulator with the stipulated timelines
• Registers Maintenance – to track, align, ensure and coordinate with respective business units, BIUteams for regulatory registers are maintained in appropriate format and needs to be submitted to IRDAI
• Communication to regulators as per regulations – All communications including branch opened & closed data, directorship change, regulatory charges levied etc to be notified.
• IIB Envoy Portal Update – All the salespersons, SP details needs to be uploaded, tracked and reviewed periodically
• IRDAI CA/ISNP/Envoy License Renewal – to ensure all the applicable licenses are availed, procured and renewed with the applicable timelines as per guidelines and to coordinate with relevant stakeholders on the licensing applicability, repository maintenance
• NOC issuance & Detagging Pan in IRDAI portal – Issuing NOC for exited SP’s and Detagging the PAN from IRDA & Envoy along with record keeping
• Telemarketer License – Application of telemarketing license as per guidelines and submission of regulatory data to IRDAI as per stipulated guidelines.
• Renewal ofIRDAI CA license, PO, ISNP, Envoy, any other licenses to be kept in track and to be renewed along with PO & relevant stakeholders
• Regulatory Checklist maintenance – Tracking the regulatory checklist (IRDAI Data maintenance, Registers, timely submissions, grievances, etc.,) completely along with stakeholders
• Reconciliations Tracking – To Coordinate with finance, product teams & insurers for reconciliation sign off every month. Ensuring the gaps identified in recon are followed up.
• Agreements maintenance – to maintain and track the agreements of insurers, SLA’s of insurers, Commission structure of insurers
• Grievance tracking/Data maintenance – to Track the grievances from grievance team, insurers and coordinating the resolution with insurers, business, product and branch team. To maintain the grievance register as per regulatory requirement.
• Audit Initiation for Branch & Tracking – To provide the Audit Checklist & To Coordinate with functional audit team and track the audit resolution for branches.
• Compliance check on AML – To provide the checklist to compliance team of MFL and to coordinate and track AML cases with internal & external stakeholders.
• Legal/Litigation Tracking – Bookkeeping the Litigation of insurance cases, open cases, updating the regulator as needed
• Any other activity as delegated by the management & supervisor from time to time

Expeirence : 4- 8 years in a similar domain