Manager- Compliance

Niva Bupa; Gurugram District; On-site; INR 1,200,000 - 2,000,000; Full time

Job summary

Niva Bupa seeks a Regulatory & Compliance professional in Gurugram to monitor regulatory developments, provide advisory support, and drive governance across product and process workflows. The role entails coordinating CAPs, maintaining regulatory documentation, and leading training programs to foster an ethical compliance culture within the organization.

Ideal candidates will have Insurance/financial services exposure, strong IRDAI knowledge, and advanced Excel/PowerPoint skills for dashboards

Qualifications

• Strong understanding of IRDAI regulations and regulatory frameworks.
• Experience with governance dashboards and regulatory trackers is preferred.
• Advanced Excel and PowerPoint skills for reporting and analysis.

Responsibilities

• Regulatory Monitoring & Change Management: Monitor and identify new laws, regulations, circulars, guidelines, notifications and regulatory developments applicable to the Company. Maintain and periodically update the repository of applicable laws, regulations, circulars and regulatory requirements. Disseminate regulatory updates to relevant stakeholders and business functions within defined timelines. Coordinate implementation of regulatory changes across the organization and monitor closure of action items. Raise and track Compliance Action Plans (CAPs) arising from regulatory changes and monitor timely closure.
• Regulatory Advisory & Business Support: Provide regulatory and compliance advisory to business and support functions on applicable laws, regulations, ethical standards and internal policies. Support implementation of regulatory requirements across business channels and functions. Respond to regulatory and compliance queries raised by internal stakeholders within agreed timelines. Assist business functions in interpreting regulatory requirements and evaluating compliance implications.
• Compliance Approval & Governance: Participate in product and process approval workflows from a compliance standpoint. Review and provide compliance clearance for business documents and initiatives prior to implementation. Coordinate with business teams to ensure closure of observations and implementation of compliance recommendations before launch. Maintain records and documentation relating to compliance approvals and regulatory submissions.
• Regulatory Reporting & IRDAI Correspondence: Develop and implement processes and controls for regulatory reporting requirements. Manage regulatory correspondence with IRDAI and other regulatory authorities. Coordinate responses to regulatory queries, inspections, information requests and clarifications within prescribed timelines. Maintain and update regulatory correspondence trackers and reporting dashboards.
• Compliance Monitoring, Awareness & Training: Develop and implement compliance monitoring frameworks, controls and governance processes. Manage compliance monitoring tools and compliance obligation trackers. Review training materials, manuals, learning modules and awareness content from a compliance perspective. Conduct compliance workshops, awareness sessions and regulatory training programs for employees and business stakeholders. Promote ethical conduct and a strong compliance culture across the organization.
• Documentation & Record Management: Maintain compliance policies, procedures, SOPs, regulatory registers, trackers and governance documentation. Ensure appropriate documentation and audit trail of compliance reviews, advisories, approvals and regulatory communications. Support audits, inspections, regulatory reviews and compliance assessments.
• Compliance Programs & Strategic Initiatives: Support the Head Compliance in execution of compliance programs and strategic initiatives. Participate in governance forums, committee activities and compliance-related projects. Assist in strengthening the overall compliance framework and culture within the Company.

Skills

IRDAI regs

Insurance Act

Governance dashboards

Advanced Excel

PowerPoint

Tools

Excel

PowerPoint

Job description

Role & responsibilities

1. Regulatory Monitoring & Change Management: Monitor and identify new laws, regulations, circulars, guidelines, notifications and regulatory developments applicable to the Company. Maintain and periodically update the repository of applicable laws, regulations, circulars and regulatory requirements. Disseminate regulatory updates to relevant stakeholders and business functions within defined timelines. Coordinate implementation of regulatory changes across the organization and monitor closure of action items. Raise and track Compliance Action Plans (CAPs) arising from regulatory changes and monitor timely closure.

2. Regulatory Advisory & Business Support: Provide regulatory and compliance advisory to business and support functions on applicable laws, regulations, ethical standards and internal policies. Support implementation of regulatory requirements across business channels and functions. Respond to regulatory and compliance queries raised by internal stakeholders within agreed timelines. Assist business functions in interpreting regulatory requirements and evaluating compliance implications.

3. Compliance Approval & Governance: Participate in product and process approval workflows from a compliance standpoint. Review and provide compliance clearance for business documents and initiatives prior to implementation. Coordinate with business teams to ensure closure of observations and implementation of compliance recommendations before launch. Maintain records and documentation relating to compliance approvals and regulatory submissions.

4. Regulatory Reporting & IRDAI Correspondence: Develop and implement processes and controls for regulatory reporting requirements. Manage regulatory correspondence with IRDAI and other regulatory authorities. Coordinate responses to regulatory queries, inspections, information requests and clarifications within prescribed timelines. Maintain and update regulatory correspondence trackers and reporting dashboards.

5. Compliance Monitoring, Awareness & Training: Develop and implement compliance monitoring frameworks, controls and governance processes. Manage compliance monitoring tools and compliance obligation trackers. Review training materials, manuals, learning modules and awareness content from a compliance perspective. Conduct compliance workshops, awareness sessions and regulatory training programs for employees and business stakeholders. Promote ethical conduct and a strong compliance culture across the organization.

6. Documentation & Record Management: Maintain compliance policies, procedures, SOPs, regulatory registers, trackers and governance documentation. Ensure appropriate documentation and audit trail of compliance reviews, advisories, approvals and regulatory communications. Support audits, inspections, regulatory reviews and compliance assessments.

Compliance Programs & Strategic Initiatives: Support the Head Compliance in execution of compliance programs and strategic initiatives. Participate in governance forums, committee activities and compliance-related projects. Assist in strengthening the overall compliance framework and culture within the Company.

Preferred candidate profile

• Prior experience in Insurance, Health Insurance, Financial Services, Banking, or NBFC sector preferred.
• Strong understanding of IRDAI regulations, Insurance Act, Corporate Governance requirements, and regulatory frameworks.
• Advanced Microsoft Excel and PowerPoint. Experience with compliance monitoring tools, regulatory trackers, and governance dashboards, Strong drafting and documentation skills.