Legal - Regulatory Compliance Management

Role & responsibilities

Regulatory Compliance Management

• Review and analyze IRDAI regulations, circulars, guidelines, exposure drafts, and other regulatory communications.
• Maintain a regulatory compliance tracker and ensure timely implementation of regulatory requirements.
• Advertisement Compliance

Regulatory Reporting

• Review and coordinate submission of regulatory returns and reports to IRDAI within prescribed timelines.
• Compile and submit periodic reports required by regulatory authorities and industry bodies.
• Ensure accuracy, completeness, and timely filing of all regulatory reports.

Stakeholder Coordination

• Liaise with various internal departments including Underwriting, Claims, Operations, 
• Finance, Risk, IT, Actuarial, and Business Teams to collect information and ensure timely regulatory submissions.
• Facilitate implementation of compliance requirements across departments.

Compliance Monitoring & Documentation

• Maintain compliance records, registers, policies, and regulatory correspondence.
• Assist in compliance audits, inspections, and regulatory reviews.
• Prepare compliance MIS, presentations, and reports for management.

Training & Awareness

• Support compliance awareness initiatives and regulatory training programs for employees.
• Disseminate regulatory updates to relevant stakeholders.

Key Skills & Competencies

Technical Skills

• Knowledge of IRDAI regulations, circulars, and regulatory reporting requirements.
• Understanding of General Insurance regulatory framework.
• Knowledge of reporting requirements involving GI Council, IIB, ERF, CERSAI, and other regulatory bodies.
• Strong documentation and regulatory interpretation skills.

Computer Skills

• Proficiency in: 
• Microsoft Excel (data management, reports, trackers, MIS)
• Microsoft Word (drafting reports, policies, correspondence)
• Microsoft PowerPoint (management presentations and compliance updates)

Experience

2-3 years of experience in Compliance, Legal & Compliance, Regulatory Reporting, or related functions.

Required Qualification

• Bachelor's Degree in Commerce, Law, Business Administration, Finance, Insurance, or related discipline.
• Professional qualifications such as LLB, CS(Executive), Insurance qualifications, or equivalent will be preferred.