Compliance Manager

A Leading Life Insurance Company is seeking a proactive Compliance Manager to uphold statutory governance and regulatory integrity.

The Compliance Manager must combine solid expertise in Insurance Act regulations and IRDAI master circulars with practical experience in AML/CFT monitoring and regulatory reporting.

Key Responsibilities

• Track, assess, and implement circulars, guidelines, and statutory updates issued by the IRDAI.
• Maintain the enterprise Compliance Management System and prepare compliance certificates for the Board and Risk Committee.
• Prepare and file periodic statutory returns, disclosures, and certifications accurately with regulatory bodies.
• Review product structures, File & Use filings, customer documentation, sales literature, and marketing campaigns.
• Oversee distribution compliance across agency channels, corporate brokers, bancassurance partners, and digital portals.
• Direct AML/CFT frameworks, supervise KYC validation workflows, and submit STR/CTR reports to FIU-IND.
• Coordinate IRDAI regulatory inspections, internal reviews, and statutory audits, managing timely closures of observations.
• Analyze customer grievance patterns on Bima Bharosa to address root-cause operational risks.
• Oversee compliance requirements relating to the Digital Personal Data Protection (DPDP) Act and IRDAI cybersecurity norms.

Requirements and Qualifications

• Graduate or postgraduate degree; qualifications in Law (LLB), Company Secretary (CS), CA, or MBA are preferred.
• 5-6 Years of dedicated compliance experience within life insurance, general insurance, or insurance intermediaries.
• Deep operational understanding of the Insurance Act 1938, IRDAI regulations, PMLA norms, and BAP filings.
• Professional certifications such as Licentiate, Associate, or Fellow from the Insurance Institute of India (III) are advantageous.
• Strong stakeholder management skills and the ability to draft concise board-level compliance reports.