Head - Investment Back Office

Michael Page; Mumbai; On-site; INR 1,899,335 - 3,323,836; Full time

Job summary

Michael Page is seeking a professional for the role of Investment Operations & Control in Mumbai. The successful candidate will oversee end-to-end investment back-office operations and ensure compliance with regulatory standards. Ideal applicants should have a strong understanding of life insurance investment operations, in-depth knowledge of market instruments, and at least 12 years of relevant experience. The role also involves driving process improvements and leading a high-performing team to achieve business goals.

Qualifications

• Strong understanding of life insurance investment operations and regulatory environment.
• In-depth knowledge of debt markets, equity markets, fixed income instruments, and alternate investments.
• Expertise in IRDAI guidelines, audit processes, and governance standards.

Responsibilities

• Oversee end-to-end investment back-office operations including trade processing and accounting.
• Ensure compliance with IRDAI investment regulations and manage audits.
• Drive automation and process improvements in investment operations.

Skills

Leadership

Stakeholder management

Attention to detail

Analytical skills

Problem-solving

Education

CA / MBA (Finance) / CFA / ICWA

Additional certifications in investments or risk management

Job description

• Opportunity to work with the senior leadership
• Lead operations for a sizeable investment portfolio of a life insurance company

About Our Client

Our client is a leading life insurance company headquartered in Mumbai

Job Description

Investment Operations & Control

• Oversee end-to-end investment back-office operations including trade processing, settlement, reconciliation, and accounting
• Ensure accurate recording of investments across asset classes such as equity, debt, mutual funds, derivatives, AIFs, and alternate investments
• Manage daily, monthly, and quarterly reconciliations with custodians, banks, and fund accountants
• Monitor and ensure timely settlement of trades and resolution of breaks

Regulatory & Compliance

• Ensure compliance with IRDAI investment regulations, exposure norms, and internal investment policies
• Coordinate with Compliance, Risk, and Actuarial teams for regulatory reporting and disclosures
• Support statutory, internal, concurrent, and IRDAI audits; address audit observations promptly
• Ensure adherence to governance, SOPs, maker-checker controls, and risk frameworks

Audit Management

• Plan, coordinate, and execute internal and external audits
• Manage Concurrent Audits and Reporting for the same
• Conduct process walkthroughs and control testingEnsure compliance with regulatory guidelines (IRDAI, RBI, statutory requirements, and internal policies)

Reporting & MIS

• Oversee preparation of investment MIS, portfolio reports, yield analysis, and regulatory submissions
• Provide accurate and timely data to CIO, senior management, Actuarial, Finance, and Risk teams
• Support valuation, NAV, solvency, and asset-liability management reporting

Stakeholder & Vendor Management

• Act as the primary point of contact for custodians, brokers, RTAs, fund houses, trustees, and external auditors
• Manage service levels, SLAs, and performance reviews of custodians and vendors

Technology & Process Improvement

• Drive automation, system enhancements, and digitization of investment operations
• Work closely with IT teams on investment systems, core insurance platforms, and reconciliation tools
• Lead process re-engineering initiatives to improve efficiency, accuracy, and turnaround time

Team Leadership

• Lead, mentor, and develop a high-performing investment operations team
• Define roles, KRAs, training plans, and succession planning
• Foster a culture of strong controls, accountability, and continuous improvement

The Successful Applicant

• Strong understanding of life insurance investment operations and regulatory environment
• In-depth knowledge of debt markets, equity markets, fixed income instruments, and alternate investments
• Expertise in IRDAI guidelines, audit processes, and governance standards
• Strong leadership, stakeholder management, and decision-making skills
• High attention to detail with the ability to manage large portfolios
• Strong analytical and problem-solving capabilities
• CA / MBA (Finance) / CFA / ICWA
• Additional certifications in investments or risk management preferred

Relevant Work Experience

• 12 years of experience in investment back office / operations, preferably within a Life Insurance Company
• Prior experience managing regulatory audits and IRDAI inspections
• Experience handling large investment portfolios and leading sizable teams

What's on Offer

• Opportunity to work with the senior leadership
• Lead operations for a sizeable investment portfolio of a life insurance company