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Regulatory, Risk & Compliance - Manager (Insurance)

Mumbai Permanent View Job Description
Responsible for overseeing the regulatory, risk and compliance professionals and driving the development and oversight of regulatory, risk and compliance strategies. The role conducts regular risk assessments and audits, collaborates with legal and business teams to interpret, and apply regulatory requirements and ensures alignment with company policies.
  • Global Firm
  • Opportunity to work for multiple geographies

About Our Client

Founded in 2010, they are a service provider of specialty products and solutions for insurance brokers, agents, and carriers, provides distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter with delegated authority from insurance carriers

Job Description

  • Under the direction of Assistant General Counsel, International, develop risk and compliance frameworks, policies and procedures, for the International Underwriting business.
  • Lead the preparation and submission of regulatory reports as per prescribed formats and guidelines.
  • Ensures compliance with regulatory requirements by conducting compliance reviews, identifying, and addressing compliance gaps and recommending corrective actions.
  • Oversees the development and implementation of compliance monitoring and testing programs to ensure ongoing adherence to regulatory requirements.
  • Partners with senior management to develop and implement regulatory reporting policies, processes, and procedures in alignment with regulatory standards.
  • Leads opportunity identification for regulatory process enhancement, automation, and optimization to improve the efficiency and accuracy of regulatory reporting.
  • Oversees internal and external audits and inquiries by providing required documentation, explanations, addressing audit findings and implementing corrective actions as necessary.
  • Leads the preparation and submission of regulatory filings and reports to relevant authorities, maintains accurate records of all submissions.
  • Assist in initial review of standard legal and regulatory documentation, including delegated authority arrangements, NDAs and TOBAs.
  • Managing broker relationships and documentation for the international group entities.
  • Prepares reports on upcoming legal, risk and compliance developments to assist in wider horizon scanning for international.
  • Prepares responses to inquiries from regulatory agencies and facilitates inspections or audits as necessary.
  • Contributes to the design and delivery of training programs to educate employees on regulatory requirements, promoting a culture of compliance within the organization.
  • Monitors and assesses the impact of emerging regulatory trends on business operations, provides strategic recommendations to senior management.
  • Stays abreast of changes in laws, regulations, and industry standards affecting the insurance sector and provides timely updates to internal stakeholders.

The Successful Applicant

A successful Compliance Manager should have:

  • Must have 6 to 15 years of experience
  • International exposure is mandatory, preferably UK or US.
  • Knowledgeable of all applicable regulations and guidance which apply to the business group(s) supported.
  • Keen analytical skills and ability to proactively identify regulatory risk.
  • Ability to foster and maintain strong positive relationships with senior management and industry contacts to ensure up-to-date knowledge of product, regulatory, technological and other developments.
  • Experience in a regulatory, risk, compliance or related role with relevant international experience.
  • Experience of working in Insurance.
  • Experience of managing a team of professionals

What's on Offer

  • Opportunities for professional development and career progression.
  • Supportive and collaborative work environment.



Quote job ref
JN-052026-7022460

Job summary

Function
Finance & Accounting
Sub Sector
Risk Management
What is your area of specialisation?
Insurance
Location
Mumbai
Job Type
Permanent
Job Reference
JN-052026-7022460

Diversity & Inclusion at Michael Page

We don't just accept difference - we celebrate it. We encourage applicants from all backgrounds to apply for this role and are committed to building inclusive, diverse workplaces where everyone can thrive. If you require any support or reasonable adjustments during the recruitment process, please let us know.