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 role involves following key activities:

1. 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).
2. The role involves monitoring of compliance, Training, reporting and ensuring ethical sales practices within organization.
3. The PO should ensure adherence to IRDA regulations applicable to corporate agents.
4. He/ She should maintain valid licensing and registration of the Corporate Agency.
5. Ensure Compliance with applicable circulars, guidelines and code of conduct.
6. Act as the primary point of contact for IRDAI communications and inspections.
7. Ensure all Specified persons are properly trained and certified as per IRDA norms.
8. Maintain updated training and certification records.
9. Submit Periodic reports, returns and disclosure to IRDA as required.
10. 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.