Edelweiss Tokio - AVP - Complaince & Legal

Position Title: AVP - COMPLIANCE & LEGAL

Department: LEGAL & COMPLIANCE

Business: :LIFE INSURANCE

Grade/Level : AVP

Location :MUMBAI

Organizational Relationships :

Position reporting to : VP - COMPLIANCE & LEGAL

No. of Direct Reports : 1/ 2

Job Purpose :

- Assist in establishing an effective Compliance and Legal framework with an aim to ensure compliant and litigation free environment within an organisation.

- To act as a Custodian of Compliance and Legal management and to inculcate the compliance environment within an organisation.

Key Responsibilities :

Managerial Responsibilities :

- Motivating and mentoring the Team Members and focusing on their skill development and training

- Setting up clear goals and expectations of Team Members.

- Constant interaction with Team Members to review their work and provide feedback.

- Conduct timely and transparent appraisals

Functional Responsibilities :

COMPLIANCE :

Regulatory Compliance :

- Ensure effective implementation of Compliance Management Framework within an organisation through timely implementation and monitoring of all regulatory requirements.

- Analyse and comment on Draft Regulations and Circulars issued by Regulators.

- Manage Regulatory Change Management by carrying out Impact Analysis of new laws and regulations and ensure their dissemination and implementation by the various functions.

- Frame Operational Processes and Policies in co-ordination with the respective functions.

- Apprise Senior Management of the status of Regulatory Compliances.

- Represent the Compliance Function in various meetings and forums.

- Monitor and assess the compliance health of the Company through periodic process reviews on a sample basis.

- Handle escalated complaints effectively

- Implement the Publication Review Process

- Build/Enhance compliance monitoring systems

Regulatory Compliance :

- Ensure effective implementation of Compliance Management Framework within an organisation through timely implementation and monitoring of all regulatory requirements.

- Analyse and comment on Draft Regulations and Circulars issued by Regulators.

- Manage Regulatory Change Management by carrying out Impact Analysis of new laws and regulations and ensure their dissemination and implementation by the various functions.

- Frame Operational Processes and Policies in co-ordination with the respective functions.

- Apprise Senior Management of the status of Regulatory Compliances.

- Represent the Compliance Function in various meetings and forums.

- Monitor and assess the compliance health of the Company through periodic process reviews on a sample basis.

- Handle escalated complaints effectively

- Implement the Publication Review Process

- Build/Enhance compliance monitoring systems

- Conduct Compliance Risk Assessment activity

Product & Marketing Compliance :

- Participate in the process for designing, drafting, reviewing of Product Documentation (Policy Document) and marketing collateral.

Distribution Compliance :

- Advise the Distribution Team on all legal and regulatory requirements and the expected levels of conduct.

- Carry out Distribution Process Reviews

- Disseminate trainings to the Distribution Teams

- Carry out Branch reviews from a compliance standpoint

- Recommend imposition of sanctions if any

Compliance Advisory & Support :

- Provide advisory on queries from various functions.

- Assist in drafting/reviewing of compliance communication and process

AML Compliance :

- Review the AML and CFT Policy and Process document on a regular basis

Enhance systemic controls and develop systems to meet enhanced regulatory requirements

LEGAL :

Contract Management :

- Drafting or review of contracts including providing advisory on the scope of services and commensurate commercials

Litigation Management :

- Draft/review Written Statements, Replies to Notices/Plaints.

- Represent the Company on various legal matters before the Ombudsman and Consumer Forums

- Liaise with panel of advocates for litigation/legal matters

Legal Advisory :

Provide interpretations/views on various legal issues

OTHERS :

- Relationship Building

- Interact with the Regulators and compliance teams of peer companies

Job Requirements :

Qualifications : LLB / B.Com (CS / LLB / CA preferable)

Experience : 10+ years (Min. 8-10 Years of experience)

Functional Competencies :

- Technical expertise and well versed with the applicable regulatory laws viz. Insurance Laws, Prevention of Money Laundering Act and related laws, FEMA and applicable RBI Regulations and other laws

- Proficient in business understanding and providing advisory with a problem solving approach.

- Surveillance and inspection skills

- Multi-tasking with an ability to deliver under pressure

- Ability to lead Projects and ensure efficient and timely delivery

- Amicable and Assertive nature

- Eye for detail and accuracy

- Proactive and paranoid about things

- Good drafting and communication skills (written and verbal)

- Good knowledge of systems, internal processes and policies

Key Interactions :

GCG : Regular interactions with the GCG for updating them on the various regulatory and other issues and updating them with the compliance report.

BCG : Interaction with the BCG of Group Companies for discussion on common issues across financial sector

Various Functions within the Company : Ongoing interaction with various Functional Heads and their Team members for updating them on regulatory matters, advising on various operational and other issues, and providing support in their processes review and approvals.

Nature or purpose of interaction :

External :

Auditors : Regular interaction with the Auditors on the system and processes related issues and resolving their queries, from time to time.

Regulator : Liasoning with the Regulator

Lawyers/ Consultants :Interaction with the Lawyers on various legal matters and discussion on the interpretational issues and representations to be made by the Company

- Discussion with the Consultants and Advisors on different compliance and regulatory matters.