Job Description
Job TitleVice President-ComplianceLocationHO - GurgaonDepartmentComplianceFunctionNAReporting toChief Compliance OfficerBand3A
Function Summary
Compliance
Job Summary
Support the Chief Compliance Officer in driving enterprise-wide regulatory governance, regulatory engagement, and proactive risk-based compliance framework across the organization.
The role will be responsible for scanning the regulatory horizon and implementing regulatory requirements across regulators, compliance assurance to the management, AML compliance, regulatory reporting, advertisement compliance and compliance advisory to business.The role will also involve having regulatory interactions, handling regulatory inspections and partnering with senior leadership to shape compliance strategy in consultation with Chief Compliance Officer.
Key Responsibilities
Development and implementation of Compliance strategy of the Company so as to realize the company’s mission, vision and values and to enable optimal valuation for the business.
Establishing and continuously improving a consistent operating framework for the identification, management, monitoring and reporting of Compliance risks and issues across the length and breadth of the organization.
Identifying and incorporating learnings from the Company’s ongoing experiences, scanning regulatory horizon to monitor regulatory developments in the insurance sector in India.
Ongoing alignment of compliance activities with business priorities to ensure that each compliance activity evaluates and appreciates the business risks and its significance in the context of the company’s macro risks and goals.
Set industry benchmarks in Compliance and set up the Company for credibility and recognition in the ecosystem, including the regulator and industry peers.
AML Compliance Program– lead and implement the robust and best in class AML programme concerning KYC norms, training of employees and agents, monitoring and reporting of suspicious transactions.
Obtain self-certification from all functions confirming compliance with applicable laws and regulations and code of conduct.
Carrying out regular reviews of compliance requirements at critical functions at pre-defined frequency and highlighting any violations to respective committees.
Marketing material review- ensuring sales/marketing materials are reviewed in accordance with the laid down regulatory norms.
Monitoring and reporting/submitting various compliances under the Insurance Act and other laws
Managing onsite and offsite regulatory inspections (IRDAI, RBI, etc.) and assisting distribution partners in similar queries.
Ensuring timely advisory to business on various compliance matters by identifying compliance risks/liabilities, offering alternative strategies and mitigation steps besides balancing business desired outcomes and protecting the business against compliance risks. Providing leadership, consultation and decision support to the business on compliance related topics, major initiatives and emerging concepts.
Key skills required
Strong writing and articulation skills with ability to draft Board-level and regulatory communication
Excellent stakeholder management and regulatory interfacing capability
Strong analytical and problem-solving skills
Sound understanding of financial services regulatory framework (preferably insurance)
Ability to provide pragmatic, business-aligned compliance solutions
Strong networking and influencing skills
Key Relationships Management (Internal /External)
Regulators like IRDAI, PFRDA, UIDAI, IFSCA
Industry bodies
Senior leadership team, business heads, risk, finance and legal teams
LLB/CS/MBA
Minimum 14 years of experience in Compliance / Legal / Risk within financial services (preferably life insurance)
Strong track record of working with senior leadership and cross-functional stakeholders
About Axis Max Life Insurance
Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services Limited (“MFSL”) and Axis Bank Limited. Axis Max Life Insurance offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per the annual audited financials for FY2023-24, Axis Max Life Insurance has achieved a gross written premium of INR 29,529 Cr. For more information, please visit the company website at www.maxlifeinsurance.com.
#ComeAsYouAre LGBTQIA+ and PwD candidates of all ages are encouraged to apply
