Job Description
Brief Objective of Position & Its Contribution to the Business
Responsible for 1st line of defense for Insurance and Investment products
- Established a sound regulatory compliance framework, regulatory engagement & policy advocacy program.
- Build strong regulatory engagement & direct liaison with all functions and insurance partners
- Draw a detailed and efficient process for implementing all applicable regulations by RBI, IRDAI, PFRDA & SEBI for Insurance and Investment Business
- Always ensure and be ready with all functions for regulatory compliance and audit.
- Represent the Bank in various industry bodies of digital, fintech other working groups on regulatory policies, advocacy programs.
- Create regulatory knowledge for new and renewals of licenses and related registrations.
Key Responsibilities
- Ensure Compliances pertaining to Insurance, Mutual Fund, NPS, PFRDA, PMJJBY, PMSBY, DEMATE.
- Ensure IRDA and AMFI Certification as per regulatory norms
- Implement all regulatory framework & policies & internal governance policies along with all insurance partner in sales and service.
- Liaison with Regulators & Industry bodies for regular updates
- Evaluate the impacts of any new regulation, decision, ability to anticipate issues and proactively create a solution for open gaps and risks
- Build process around regulatory compliance requirements
- New product & Process approvals Ensure applicability of law like data protection, new license regulations and structure/reporting.
- Design and implement Sales Process Reviews across all channels - DST, Tele Sales, Web Sales, Group Insurance, POS channels.
- Conduct Compliance Training Sessions in New Employee Orientation
- Set up complete monitoring and tracking program, checklist rollout, Action trackers and reports
- Review all marketing collaterals, literature, factsheets, communiques, and communications
- Regulatory reporting - Filings monthly / Quarterly report reports, Annual Audit Certification, and independent audits
- Monitoring of AML / FATCA compliance and its reporting
- Conducting and arranging Committee meetings - valuation committee, investment committee
- Liasoning with Internal auditors and statutory auditors and effectively handling SEBI, IRDA, PRFDA inspections
- Working with Company Secretary to ensure Compliance with ROC procedures
- Preparation of required material for board meetings
Job Specification (Competencies required to perform the role)
Qualifications - LLB/ MBA finance/ CA (addl. qualification of CS /LLM will be added advantage. LLB preferred because the role involves interpretation and engagement for policy and regulations).
- Minimum 12-15 years post-qualification in regulatory, legal and compliance function with direct engagement with financial sector regulators like RBI, SEBI, IRDAI, PFRDAI.
- In-house regulatory or compliance portfolio of financial services company handling inspection and audit by regulators, direct engagement with regulators.
Functional Competencies :
- Advance Excel with VB and Macros, Reporting skills and Presentation
- Committed and ready to work under constraints/ pressure.
- Liaison skills and ability to participate in industry associations, fintech committees and place the company's viewpoint on regulatory enablement's and issues.
- Demonstrated ability to handle regulatory inspections and audits independently.
- High degree of professional ethics and integrity, Excellent judgement and analytical skills, good interpersonal skills
- Strong & Effective communication and influencing skills
Behavioral Competencies :
- Self-Driven & Proactive
- Result Oriented with a positive outlook
- Well-presented and business-like - Good speaking & writing skills
- Stable career history, Exceptional work ethic & drive, Willing to travel
Responsible for 1st line of defense for Insurance and Investment products
- Established a sound regulatory compliance framework, regulatory engagement & policy advocacy program.
- Build strong regulatory engagement & direct liaison with all functions and insurance partners
- Draw a detailed and efficient process for implementing all applicable regulations by RBI, IRDAI, PFRDA & SEBI for Insurance and Investment Business
- Always ensure and be ready with all functions for regulatory compliance and audit.
- Represent the Bank in various industry bodies of digital, fintech other working groups on regulatory policies, advocacy programs.
- Create regulatory knowledge for new and renewals of licenses and related registrations.
Key Responsibilities
- Ensure Compliances pertaining to Insurance, Mutual Fund, NPS, PFRDA, PMJJBY, PMSBY, DEMATE.
- Ensure IRDA and AMFI Certification as per regulatory norms
- Implement all regulatory framework & policies & internal governance policies along with all insurance partner in sales and service.
- Liaison with Regulators & Industry bodies for regular updates
- Evaluate the impacts of any new regulation, decision, ability to anticipate issues and proactively create a solution for open gaps and risks
- Build process around regulatory compliance requirements
- New product & Process approvals Ensure applicability of law like data protection, new license regulations and structure/reporting.
- Design and implement Sales Process Reviews across all channels - DST, Tele Sales, Web Sales, Group Insurance, POS channels.
- Conduct Compliance Training Sessions in New Employee Orientation
- Set up complete monitoring and tracking program, checklist rollout, Action trackers and reports
- Review all marketing collaterals, literature, factsheets, communiques, and communications
- Regulatory reporting - Filings monthly / Quarterly report reports, Annual Audit Certification, and independent audits
- Monitoring of AML / FATCA compliance and its reporting
- Conducting and arranging Committee meetings - valuation committee, investment committee
- Liasoning with Internal auditors and statutory auditors and effectively handling SEBI, IRDA, PRFDA inspections
- Working with Company Secretary to ensure Compliance with ROC procedures
- Preparation of required material for board meetings
Job Specification (Competencies required to perform the role)
Qualifications - LLB/ MBA finance/ CA (addl. qualification of CS /LLM will be added advantage. LLB preferred because the role involves interpretation and engagement for policy and regulations).
- Minimum 12-15 years post-qualification in regulatory, legal and compliance function with direct engagement with financial sector regulators like RBI, SEBI, IRDAI, PFRDAI.
- In-house regulatory or compliance portfolio of financial services company handling inspection and audit by regulators, direct engagement with regulators.
Functional Competencies :
- Advance Excel with VB and Macros, Reporting skills and Presentation
- Committed and ready to work under constraints/ pressure.
- Liaison skills and ability to participate in industry associations, fintech committees and place the company's viewpoint on regulatory enablement's and issues.
- Demonstrated ability to handle regulatory inspections and audits independently.
- High degree of professional ethics and integrity, Excellent judgement and analytical skills, good interpersonal skills
- Strong & Effective communication and influencing skills
Behavioral Competencies :
- Self-Driven & Proactive
- Result Oriented with a positive outlook
- Well-presented and business-like - Good speaking & writing skills
- Stable career history, Exceptional work ethic & drive, Willing to travel
💡 Quick Summary
Seeking a career-building opportunity? The AU Small Finance Bank | DVP|AVP position is now open for candidates interested in the Bank Jobs sector. This role in Jaipur offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Bank Jobs is a plus.
