Sr. Team Member - Insurance Compliance Auditor

The role requires you to conduct independent compliance-based process audits and reviews of internal department processes, procedures, and practices. Your primary responsibility will be ensuring adherence to all applicable IRDAI and other regulatory regulations, as well as internal policies and procedures related to insurance operations. This involves assessing compliance risks, identifying potential gaps, and recommending corrective actions to maintain a robust and compliant operational environment. Your key responsibilities will include planning, executing, and documenting compliance audits. You will need to evaluate the effectiveness of internal controls designed to ensure compliance with insurance laws, regulations, and company policies. Additionally, you will be reviewing various aspects of insurance operations such as underwriting, claims handling, policy servicing, distribution compliances, marketing, and agent licensing. It will be crucial for you to identify and assess compliance risks and recommend strategies to mitigate those risks. You will be required to gather, analyze, and interpret data to identify trends, potential non-compliance issues, and areas for improvement. Your role will also involve preparing clear, concise, and objective audit reports summarizing findings, conclusions, and recommendations. Effective communication of audit findings and recommendations to management and ensuring the implementation of corrective actions will be essential. To excel in this role, staying up-to-date on changes in insurance laws, regulations, and industry best practices is critical. Collaborating with other departments to promote a culture of compliance and assisting in the development and maintenance of compliance policies and procedures will also be part of your responsibilities. Additionally, you may be assigned other related duties as required. The ideal candidate for this position should have 3 to 5 years of relevant experience.,