Principal Officer & In Business Controls Lead - BFSI

Job Title: Principal Officer & In Business Controls Lead

Location: Any Metro City

Department: Corporate Agency & Risk Management, Wealth Management

Reports to: Wealth & Distribution Head CXO

Job Overview

The role combines responsibilities as a Principal Officer, ensuring compliance with IRDAI regulations for corporate agency operations, and as an In Business Controls Lead, enhancing internal control frameworks to mitigate risks.

Key Responsibilities

Principal Officer Responsibilities:

- Regulatory Compliance: Ensure adherence to IRDAI regulations.

- Licensing and Registration: Manage the application, renewal, and maintenance of the corporate agency license.

- Training and Development: Ensure staff receive adequate training on regulatory requirements and company policies.

- Reporting: Submit required reports to IRDAI and maintain records.

- Risk Management: Identify and mitigate operational risks.

- Customer Relations: Maintain high standards of customer service and handle escalations.

In Business Controls Lead Responsibilities:

- Internal Controls: Develop and maintain a robust internal control framework.

- Risk Assessment: Conduct regular risk assessments and implement mitigation strategies.

- Audit and Monitoring: Oversee internal audits and monitor compliance activities.

- Policy Development: Create and update policies to enhance efficiency and control.

- Training and Awareness: Conduct training on risk management and internal control processes.

- Reporting and Documentation: Prepare reports on internal controls and risk management for senior management and the board.

Qualifications and Skills

- Education: Bachelor's degree in finance, business administration, or related field; Master's degree or professional certifications preferred.

- Experience: Over 20 years, with 8-10 years in the insurance industry, focusing on regulatory compliance and risk management.

- Knowledge: Expertise in IRDAI/RBI and SEBI regulations, insurance and investment products, and risk management practices.

Must Have

- Strong analytical and problem-solving skills.

- Excellent communication and interpersonal abilities.

- Leadership and team management capabilities.

- Proficiency in risk management and compliance software.

- Strong organizational skills and attention to detail.