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Assistant Manager/Manager (Compliance, Risk & Legal)

Location Mumbai, India Job type Full-Time Work mode Hybrid Job level Professional Job ID 8467 Company Munich Re Employment type Regular Area of expertise Audit, Compliance & Legal
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Across Asia Pacific, Middle East and Africa, we operate life and health and non-life reinsurance as well as primary insurance businesses,  providing global career development opportunities and prospects to more than 1900 team members in 20 locations. We started supporting clients in the Indian market in 1951 and established our India Branch in Mumbai in 2017 to service the Non-Life and Life reinsurance markets in India, Sri Lanka and Bangladesh.

In this role, you will be part of the Compliance, Risk and Legal team and would be responsible to develop, implement and maintain the Legal, Compliance and Risk related framework including related controls, compliance and reporting.

Your Role

Risk Management & Legal:

  • Ensure all risk management related topics from regulators/group/regional are timely addressed.
  • Preparation and presentation in risk management meetings incl. minutes.
  • Vetting of Legal contracts and agreements, co-ordinating with law firms for legal opinions

Compliance:

  • Develop and maintain compliance policies, procedures and guidelines.
  • Provide advice, review, guidance and training to employees on compliance requirements.
  • Ensure timely update of other company law registers and filing of Annual Return to ROC/other regulators as applicable.
  • Take note of minutes of meetings of various management meetings

Reporting and Monitoring

  • Coordinate and ensure response for emerging risk and compliance requirements.
  • Provide regular reports to senior management on risk and compliance matters.

Stakeholder engagement

  • Build and maintain relationships with regulatory bodies, auditors, and other internal and external stakeholders.
  • Ensure accurate and timely internal and external reporting
  • Support implementation of Regional and Group Risk frameworks at the Branch.
  • Ensure timely submission of reports before statutory or internally set deadlines including support for IRDAI Inspections/other regulatory inspections. 
  • Ensure providing legal advisory/vetting of legal agreements and other legal documents as required as per regulatory requirements.
  • Support TPRM/outsourcing related reporting and tasks

Any other functions/ tasks/ activities/ responsibility assigned by the manager:

  • Be flexible and adaptive to accept any other duties to ensure that the work is completed in a timely manner.

Your Profile:

  • 7-10 years’ experience in the General Insurance /Life Insurance /Reinsurance Industry/Insurance Intermediaries (essential).  
  • Functional experience of Compliance/Risk and/or Legal (preferred).
  • Hands on experience in managing IRDAI/regulatory reporting (preferred).

Qualifications

  • LLB, CS and/or Risk Management preferred (other insurance or financial sector related qualifications may be accepted)

Competencies

  • Good organisational skill
  • Goal oriented with ability to independently complete tasks with minimal oversight
  • Proficient communication skills
  • Critical thinking abilities
  • Effective problem solving

At Munich Re, we embrace, and value, the interaction of diverse backgrounds, experiences, perspectives and thought. This interaction is our foundation. Of our open culture and spirit of partnership. Of how our teams are built and cultivated. Of how we are supported and developed. And at the centre of this interaction is each of us.

About Munich Re:

Founded in 1880, Munich Re Group is one of the world’s leading providers of reinsurance, primary insurance and insurance-related  risk solutions.

As pioneers in risk assessment, we drive the digital transformation  of the global insurance landscape, expanding products and services as new forms of risk emerge. From space rocket launches to cyber- attacks, from high net worth individual life cover to pandemics, we take care of risks, so our clients can take care of their business.

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Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.

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