Senior Compliance Executive

A leading life insurance company is seeking a proactive Senior Compliance Executive to join its governance team. In this essential role, you will assist in comprehensive compliance management and interact with diverse stakeholders for circular implementation. Furthermore, you will provide a new outlook to the existing regulatory framework by applying a progressive approach to business proposals. Consequently, this position is vital for ensuring the organization operates seamlessly within the evolving insurance landscape in India.

The Senior Compliance Executive must monitor regulatory updates and ensure the timely closure of action points related to new circulars. Additionally, you will have the unique opportunity to learn compliance automation through artificial intelligence and participate in proactive engagements with the IRDAI. Therefore, the company is looking for a professional with 1 to 2 years of experience in the insurance industry. If you have a strong competence in interpreting insurance laws, this Senior Compliance Executive role offers a premier career path.

Key Responsibilities for the Senior Compliance Executive

• Assist in end-to-end compliance management and coordinate with stakeholders for the implementation of regulatory circulars.
• Review and approve company advertisements to ensure full compliance with established insurance marketing standards.
• Track all regulatory updates and ensure information is disseminated accurately across relevant internal departments.
• Monitor and drive the closure of specific action points arising from new IRDAI circulars and regulations.
• Maintain meticulous record-keeping of all regulatory correspondences and official circulars.
• Support team members in addressing ad-hoc IRDAI requirements, queries, and regular BAP filings.
• Identify and highlight any exceptions, instances of non-compliance, or potential regulatory issues immediately.
• Execute a proactive drive to ensure the organization maintains a record of zero regulatory penalties.
• Assist the broader team in managing AML/CFT compliance and related monitoring activities.
• Utilize artificial intelligence tools to participate in innovative compliance automation initiatives.

Requirements and Qualifications

• Graduate or Post Graduate degree with 1 to 2 years of relevant work experience in the Life or General insurance industry.
• Demonstrated competence in interpreting complex insurance laws and various regulatory frameworks.
• Solid understanding of the insurance industry landscape and current IRDAI regulations.
• Knowledge of life insurance business processes and the regulatory environment governing them.
• Strong proficiency in MS Office for professional report writing and the creation of executive presentations.

Core Competencies and Focus Areas

• Progressive and innovative approach toward evaluating business proposals within regulatory boundaries.
• Strong analytical skills to identify potential issues before they escalate into non-compliance.
• Excellent communication skills to effectively interact with stakeholders and regulatory bodies.
• Ability to work in a high-growth environment focused on digital innovation and stakeholder value.

If you are a compliance professional ready to drive the Senior Compliance Executive function for a premier insurer, we encourage you to apply today!