Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.
PHI – Legal and Compliance –Senior Manager/Manager
Prudential (UK) in partnership with the HCL group plans to set-up a standalone Indian health insurance company to address the growing healthcare needs of the Indian consumer.
This joint venture will combine Prudential's global expertise in insurance and financial services with HCL Group’s experience in technology and healthcare solutions.
Prudential, with its longstanding presence in India, already operates two leading businesses in life insurance and asset management with the ICICI Group. Prudential was also the proud sponsor of the 1983 Cricket World Cup, India’s first World Cup Victory!
Prudential Health India is a Zero to One team undertaking a no-legacy, greenfield health insurance deployment in India, building journeys that truly empathize with the customer and offer a differentiated experience.
To partner with us in this mission, we are looking for a dynamic Senior Manager Compliance will oversee the compliance function, ensuring that the organization adheres to all relevant laws and regulations, particularly those set by the Insurance Regulatory and Development Authority of India (IRDAI). This role involves leading compliance initiatives, managing regulatory compliance reporting, and providing strategic legal support.
Reporting to Head of Compliance
Location: Mumbai
The Senior Manager - Compliance is a pivotal leadership role responsible for ensuring regulatory adherence, mitigating risks, and fostering a culture of compliance within the organization. This role involves overseeing and managing a team of compliance officers, auditors, and other personnel to ensure that all operations and processes comply with industry regulations and internal policies. A strong understanding of the insurance industry, coupled with exceptional leadership and communication skills, is essential for success in this role.
Key Responsibilities
- Ensure compliance adherence with all applicable Laws, regulations, and company policies during the system build.
- Develop, implement, and maintain compliance policies and procedures.
- Conduct training sessions to educate employees on compliance requirements and best practices.
- Prepare and present compliance reports to senior management and regulatory bodies.
- Lead and manage a team of compliance professionals, fostering a collaborative and proactive compliance culture.
Qualification & Experience
- Master's degree in law. Qualified CA or CS is an added advantage.
- Minimum 8-12 years of experience in insurance domain
- In depth knowledge of health or general insurance products
- Professional certification in insurance is plus.
Skills
- Strong writing skills for drafting policies, reports, and correspondence.
- Deep understanding of insurance regulations, laws, and industry standards.
- Attention to details.
- Presentation, problem solving and negotiation skills.
- Proactive approach to identifying and addressing compliance issues.
- Excellent verbal communication skills for interacting with regulatory bodies and internal stakeholders.
What we offer
- Competitive salary
- Career development opportunities for professional growth and development including training and mentorship programs.
- Recognition as a key member of our leadership team
Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.
