Team Member-SUPPORT SERVICES-Compliance

Kotak Mahindra Bank; Mumbai; On-site; INR 1,500,000 - 2,100,000; Full time

Job summary

Kotak Mahindra Bank invites applications for the IRDA – Principal Officer role at Kotak Mahindra Prime Limited in Mumbai. The PO will oversee and manage the insurance distribution activities of the Corporate Agent, ensuring compliance with IRDA regulations and ethical sales practices.

The ideal candidate holds a relevant degree, IRDAI certified PO training, and experience in financial services audit/compliance.

Qualifications

• IRDAI prescribed PO training completed.
• Prior experience in financial services Audit/Compliance/Operations.
• Must meet fit and proper criteria as defined by IRDAI.

Responsibilities

• Oversee and manage insurance distribution activities of the Corporate Agent in compliance with IRDA rules.
• Monitor compliance, training, reporting and ethical sales practices.

Skills

Leadership

Communication

MS Office

Regulatory compliance

Audit

Documentation

IRDA regulations

Education

Bachelor’s/Master’s degree

Job description

IRDA – Principal Officer
Job ID Department Compliance, Kotak Mahindra Prime Limited Location Mumbai Number of Positions 1 Reporting Relationships DVP-Compliance Position Grade Senior Manager/Chief Manager (M4/M5)

Job Role

• The Principal Officer shall be responsible for overseeing and managing the insurance distribution activities of the Corporate Agent in compliance with the regulation laid down by the Insurance Regulatory and Development Authority of India (IRDA).
• The role involves monitoring of compliance, Training, reporting and ensuring ethical sales practices within organization.
• The PO should ensure adherence to IRDA regulations applicable to corporate agents.
• He/ She should maintain valid licensing and registration of the Corporate Agency.
• Ensure Compliance with applicable circulars, guidelines and code of conduct.
• Act as the primary point of contact for IRDAI communications and inspections.
• Ensure all Specified persons are properly trained and certified as per IRDA norms.
• Maintain updated training and certification records.
• Submit Periodic reports, returns and disclosure to IRDA as required.
• Liaise with partner insurance companies.

Job Requirements

• Masters / Bachelor’s degree from a recognized university.
• Completion of prescribed training and certification as mandated by IRDAI for Principal Officer.
• Prior experience in financial services in Audit/Compliance/Operations role
• Must meet fit and proper criteria as defined by IRDAI.
• Excellent leadership and supervisory skills.
• Strong communication and documentation abilities.
• Ability to interact with regulatory authorities.
• Proficiency in MS Office.