Assistant Vice President - Legal/Compliance & GRO

About Us:

FatakSecure is a subsidiary of FatakPay Digital. It is licensed as Composite Corporate Agent to solicit and sale insurance products. The company aims to deliver simple, transparent and affordable technology driven insurance solutions using digital platform. FatakSecure works as a cutting-edge Insurtech platform revolutionizing how digital businesses offer insurance to their customers. We enable digital NBFCs, lending platforms, fintechs, e-commerce, quick-commerce, and gig-economy/rider platforms to seamlessly embed tailored insurance products directly into their user journeys. By providing robust API integrations, state-of-the-art digital dashboards, automated MIS, and seamless financial reconciliations, FatakSecure allows partners to outsource their entire insurance process and focus entirely on their core business - all while unlocking higher attachment rates and superior revenue share. For more information, please visit www.fataksecure.com.

Role Description:

Fataksecure is seeking an agile, sharp, and execution-oriented Assistant Vice President - Legal, Compliance & GRO to head our legal and regulatory ecosystem. As an insurance distribution intermediary operating under a Corporate Agent framework, regulatory integrity is core to our business. In this role, you will hold ultimate ownership of end-to-end commercial contracting, lead day-to-day and time-bound IRDAI compliance, and serve as the company's officially designated Grievance Redressal Officer. We are looking for a hands-on leader who can seamlessly balance high-level regulatory governance with deep-dive drafting and process design.

Key Responsibilities:

1. Legal & Contract Management:

- Strategic Agreements: Structure, draft, negotiate, and manage Corporate Agent Agreements, Group Master policy agreements, Vendor and other Partner agreement along with SLAs.

- Risk Mitigation: Act as the internal legal advisor to protect the company from commercial vulnerabilities while maintaining business velocity.

2. Regulatory Compliance & IRDAI Governance:

Ensure absolute adherence, continuous monitoring, and timely return filings for all rules and regulations applicable to a Corporate Agent, including but not limited to:

- Core Statutes: The Insurance Act, 1938 and the underlying Insurance Rules.

- Intermediary Frameworks: IRDAI (Registration of Corporate Agents) Regulations, 2015.

- Product & Sales Protection: IRDAI (Protection of Policyholders' Interests and Allied Matters of Insurers) Regulations, 2024 (PPHI Regulations, 2024) and the 2 Master Circulars issued under it.

- Digital & Tech Compliance: IRDAI guidelines on Insurance Self-Network Platforms (ISNP Guidelines).

- Operational Mandates: Authorised Verifier Guidelines, ongoing compliance of corporate licensing conditions, and Outsourcing Guidelines.

- Filing & Reporting Architecture: Own and manage the calendar for all:

1. One-time compliances (license renewals, platform approvals).

2. Regular/Time-bound compliances (periodic return filings, financial disclosures, board reporting).

3. Grievance Redressal Officer (GRO) Function:

- Official Representation: Act as the officially registered Grievance Redressal Officer (GRO) for Fataksecure in front of customers, insurance partners, and the IRDAI.

- Process Design: Design, implement, and audit an institutionalized, tech-enabled workflow for complaints management and quick resolution.

- Escalation & Resolution: Directly manage high-tier consumer grievances, dispute reconciliations, and responses to any legal or regulatory customer notices.

Preferred Qualifications:

- Education: LL.B or LL.M preferred. A Company Secretary (CS) qualification is highly desirable but not mandatory.

- Experience: Minimum 5 - 8 years experience. Prior experience of handling regulatory compliance within an Insurtech startup, Insurance Brokerage, Corporate Agent, or Insurance Company.

Competencies:

- Hands-on Execution: Able to draft, file, and review documentation.

- Process-Driven: Strong capability in building checklists and compliance calendars to ensure zero missed timelines for recurring filings.

- Pragmatic Problem Solver: Ability to interpret strict regulations through a modern tech lens, providing the business with compliant "how-to" pathways rather than simple blockers.

Contact:

[email removed]