IRDAI Compliance Officer with Fincart Financial Planners

Deadline Open Deadline

Location Noida, Uttar Pradesh, India

Salary Compensation details will be finalized during the interview process with the selected candidate.

Details of the Organization

FINCART helps people PLAN (their finances), INVEST (online transaction) & PROSPER (online tracking & secret sauce to manage through various market cycles).

Details of the Job/Internship

Fincart Financial Planners is hiring for the position of IRDAI Compliance Officer to join their office in Noida office.

Role and Responsibilities

Compliance Audit and Reporting

Perform a comprehensive review of the organization’s operations and processes to ensure adherence to IRDAI regulations and other statutory requirements.
Document findings and prepare detailed reports, ensuring timely identification and resolution of any non-compliance issues.

Corporate Governance Review

Assess the governance structure to ensure alignment with IRDAI Corporate Agency Regulations and industry best practices.
Provide recommendations for strengthening governance frameworks.

Internal Controls and Process Audits

Evaluate existing internal controls and operational processes to identify potential gaps.
Recommend and assist in the implementation of robust internal control mechanisms to mitigate risks.

POSP Compliance Review

Audit and validate the onboarding, training, and operational procedures for Point of Sales Person (POSP) to ensure they meet IRDAI guidelines.
Ensure continuous monitoring of POSP activities for compliance.

Business Continuity and Disaster Recovery Review

Review business continuity plans and disaster recovery frameworks to ensure they meet regulatory requirements and safeguard operations during disruptions.
Provide recommendations for enhancing resilience and recovery capabilities.

Training and Awareness Programs

Develop and conduct workshops on compliance-related topics such as Anti-Money Laundering (AML), Know Your Customer (KYC) norms, cybersecurity, and operational risk management.
Ensure team members are well-versed in regulatory compliance standards and best practices.

Documentation Support for Regulatory Filings

Assist in preparing and filing regulatory documents, including returns, changes in shareholding, and other statutory submissions.
Ensure accuracy and timeliness in regulatory reporting.

Gap Analysis and Risk-Based Recommendations

Perform gap analysis of existing compliance frameworks and processes to identify areas of improvement.
Provide risk-based recommendations to ensure full alignment with IRDAI audit expectations and industry standards

Third-Party Vendor Due Diligence

Assess third-party vendors to ensure they comply with IRDAI regulations and company policies regarding risk management and compliance.
Recommend improvements in third-party oversight processes as needed.

Eligibility

Bachelor’s degree in Law, Finance, Accounting, or related fields. A post-graduate degree or certifications in regulatory compliance or auditing is a plus.
In-depth knowledge of IRDAI regulations and industry best practices.
Strong analytical skills with the ability to assess and interpret complex regulatory requirements.
Proven experience in compliance auditing, corporate governance, and risk management in the insurance industry.
Excellent communication skills to effectively document findings and present recommendations.
Experience with regulatory filing processes and managing vendor due diligence.
Strong attention to detail, organizational skills, and ability to meet deadlines.