Vertical Head Compliance & Assurance

1. Lead implementation of Critical Process like KYC, Stamp Duty and DPDP
   • Lead the critical process of KYC implementation for all customer journeys i:e new business, rollover and renewal applicable for  policies on yearly basis
   • Identify new technology, do existing system fix, communicate and present KYC MIS with senior management to ensure better KYC conversion and ease customer journey
   • Lead Stamp Duty implementation across every policy, maintain data check, reconciliations and validations and share relevant data with government authorities on monthly basis.
   • Facilitate implementation of the most critical upcoming DPDP Act from policy administration and servicing standpoint.

1. Compliance Adherence  (Operations)
   • Implement and track all action items mapped to operations as circulated by Compliance Team
   • Ensure compliance with regards to compliance items mapped to Operations till date on quarterly basis
   • Undertake self-review for all units under operations to track and monitor compliance implementation.
   • Stay updated with all regulatory guidelines issued by IRDAI and other regulators viz (Account Aggregator, Open Network for Digital Commerce, Ayushan Bharat Digital Mission, National Health Exchange, Bima Vahak & Bima Vistaar)

1. Audit, Risk & Quality Assurance
   • Track action items in audit observations for all units in operations and ensure timely closure.
   • Undertake self-audits for all units under operations.
   • Conduct audit for core items using centralized data analysis and co-ordinate with stakeholders for timely closure.
   • Co-ordinate with risk team for incident reporting, risk-matrix creation for all operations units and share relevant input for GCC and ERMC quarterly meet.
   • Monitor and review the internal and external quality check conducted for the specified sample size out of the total monthly average of  issued policies.
   • Enhance and increase universe of the quality check process and to identify new technologies to automate issue identification process.

1. ACM & MIS
   • Monitor and track facilitation of MIS reports to internal and external stakeholders on ad-hoc or frequency-based request.
   • Develop new MIS relevant to on-going changes and share it with stakeholders to enable better decision making
   • Own access control module to facilitate access approvals for multiple users across channels and branches.
   • Review access control module on yearly basis

1. Sarvatra Bima Initiative

• • Design and ensure customization of the Van after vendor evaluation and onboarding, as per the requirements to include assets, infra-setup and branding. 
  • • Track and monitor operational efficiency of Van on daily, monthly basis through several data points like Channel Feedback, Voice of Partner, Voice of Customer and structured MIS
    • Create campaigns and surveys to promote insurance and organizational brand among masses.
    • Monitor and review sales of products and their line of business for better utilization of this initiative. Develop product exclusive for usage through this initiative based on customer and geographical requirement.
    • Showcase initiative progress to justify CBA and identify enhancements for further growth and impact through this initiative.

  •  

  • CAT
    • Review the status reports of team on weekly basis, understand the gaps and drive the team for closure.
    • Ensure the team maintains the agreed timelines for document collection and submission to Investigations Team.
    • Manage the escalations routed via defined hierarchy and take actions for course correct.
    • Work closely with the teams in location which have geographical challenges.
    • Monitor and guide Chronicle Acquisition Team on performance and ensure the required documents are collected and submitted in time, to support ILM Team.

  •  

  • Projects
    • Take-Up strategic Project and prepare Project Charter / WBS in line with plans to drive and implement the project.
    • Define parameters, track projects progress, and address the roadblocks faced by team during project development and implementation.
    • Clearly communicate and monitor project plan as per the project charter, apprise senior management, and key business stakeholders.
    • Prepare reviews and present on key metrics, initiatives, successes, and failures after every project sprint along with driving change management, product adoption.
    • Own the complete project journey from conceptualizing to go-to-market and further brand the project on various platforms.
  • Government Authorities and Vendor Management
    • Liaison with government authorities for ad-hoc requirements, frequent reporting, and audit/inspection queries
    • Identify new technologies & products and further evaluate vendors to enhance processes using upcoming technologies to further accelerate the operational efficiency.
    • Create presentation for senior management to justify CBA, process enhancement and benefits for all initiatives.
    • Ensure NDA and MoU sign off is done with concerned vendor to comply with the organization norms
    • Build and maintain relationships key stakeholders at Partner/Vendor/OEM organizations to aid in operational coordination and conflict resolution.

  •  

  • Team Management and Development        
    • Provide regulatory guidance and suggestions for improvement of compliance, audit and risk monitoring process and bring industry standards and best practices for process/projects, ensure optimum resource utilization, and improve productivity.
    • Participate in recruitment process to identify the right talent at every position within the function.
    • Mentoring and coaching of team members and their reportees.

3