Senior Manager - Legal - Insurance

JOB SUMMARY :

The role majorly includes drafting of life insurance policy contracts, advising on insurance laws, providing comprehensive support to certain key business functions on various legal issues, undertaking projects to contribute to a quality, process and technology oriented department and developing self-help legal tools.

KEY RESPONSIBILITIES:

Life insurance policy contracts

- Finalizing products by ensuring compliance with the product regulations and other applicable insurance laws and use of plain English which is easy for customer to understand.

- Ensuring that products filed are consistent with the File and Use document in order to avoid iterations /queries/refilling /claims.

- Handling end to end reinsurance treaties including its amendments.

- Responsible to provide all round support for products finalization including maintaining legal inventory.

Insurance Advisory

- Keeping regular updates on the latest development of trends and laws relating to life insurance industry.

- Advising on interpretation of laws and related issues to business department in day to day operational and customer related issues.

- Drafting representations before the regulator and Life Insurance Council

- Collaborate with Compliance team to develop framework and monitor compliance with laws.

- Spread legal awareness on various laws affecting the business.

- Manage relationship with external counsels.

- Participate in cross functional teams dealing with various business issues and provide legal advice to such groups

MEASURES OF SUCCESS:

- Internal customer feedback

- TAT for opinions and finalizing policy contracts

- Number of IRDAI queries/disputes/ arising out of finalized policy contracts

- Number and quality of innovative but compliant, business solutions

Key competencies/skills required :

- Domain knowledge of insurance and relevant laws, its amendments and interpretation

- Experience of working in diverse areas of law

- Excellent drafting and communication skills

- Hands on experience in interacting with the any regulator.

Qualification and experience :

A law graduate from a reputed institution having post qualification experience of 10-13 years in law firm or services sector (preferably financial / Insurance). Post-graduation is not a mandatory qualification.