Manager – Compliance & AML

A Leading Life Insurance Company is seeking a detail-oriented Manager – Compliance & AML to join its legal and governance team. In this critical role, you will be responsible for ensuring that all business operations strictly adhere to IRDAI guidelines and Anti-Money Laundering (AML) regulations. Furthermore, you will manage the submission of regulatory returns and oversee the review of marketing advertisements for compliance. Consequently, this position is vital for protecting the company’s reputation and maintaining its regulatory standing.

The Manager – Compliance & AML must bridge the gap between complex regulatory requirements and practical operational implementation. Additionally, you will lead internal audits and coordinate with various departments to mitigate compliance risks and close existing gaps. Therefore, the company is looking for a professional with a legal or secretarial background and a strong eye for detail. If you are an expert in regulatory reporting and risk monitoring, this Manager – Compliance & AML role offers a premier leadership path.

Key Responsibilities

• Review and approve all marketing and advertisement materials to ensure compliance with IRDAI norms.
• Prepare and submit periodic and ad-hoc regulatory returns to IRDAI, Life Council, and IIB.
• Manage the end-to-end AML framework, including STR/RFI monitoring and screening against terrorist lists.
• Monitor and track the implementation of compliance actionable items across all internal departments.
• Coordinate branch-related compliances, including filings for openings, closures, and relocations.
• Prepare comprehensive MIS and compliance dashboards for presentation to the senior management.
• Conduct internal compliance audits and testing to highlight and fulfill regulatory gaps.
• Draft and update Standard Operating Procedures (SOPs), manuals, and process notes for the department.
• Respond to queries from the Financial Intelligence Unit (FIU) and other regulatory bodies in a timely manner.
• Lead automation projects to digitize compliance workflows and enhance monitoring efficiency.

Requirements and Qualifications

• Qualified LLB, Company Secretary (CS), or Chartered Accountant (CA).
• 4 to 6 years of experience in the compliance function of a Life Insurance company or BFSI firm.
• Deep understanding of IRDAI regulations, AML laws, and corporate governance guidelines.
• Excellent analytical skills and the ability to interpret complex legal and regulatory updates.
• Strong communication skills for providing compliance opinions to internal stakeholders.
• Proficiency in MS Office and experience in managing compliance-related IT projects.