Compliance / Legal Claims Officer job at CIC General Insurance | Apply Now

Compliance Duties

• Develop an appropriate Compliance Management framework, methodology, and process to ensure compliance with all the set-up regulations.

• Provide high-quality Compliance advice to Business and Support functions on applicable internal policies, laws, and regulations

• Provide advice regarding Anti-money laundering compliance especially; client due diligence, KYC standards, internal policies, and local regulations

• Performing real-time surveillance and support to prevent misconduct, promoting ethical standards, and monitoring and advising on rules, within the overall objective of reducing noncompliance risk to the business

• Provide in-depth analysis of changes to regulations and provide support to the Business on implementation

• Carry out compliance monitoring and perform ad hoc investigations into matters or issues that are escalated to Compliance

• Prepare draft operational policies to assist in compliance with laws and regulations for management approval.

• Coordinate submission of regulatory returns

• Prepare compliance reports for Management and the Board.

  
  

Claims Legal Duties

• Reviewing judgments and recommending settlements or appeals. Making sure that adequate reserves are maintained.

• Reviewing legal claims lodged against our insureds and engaging third parties in out-of-court negotiations in line with past precedents and set parameters. Always ensuring that adequate reserves are maintained.

• Receiving summons to enter appearance and plaint from our insureds and distribute the same to our panel of external advocates.

• Distributing the work coming into the claims legal department.

• Approving all discharge vouchers and judgments as per the approval limits.

• Co-ordinate the out-of-court committee meetings and provide periodic reports on the performance.

• Reviewing the charges charged by external advocates to ensure that the fee notes are raised to scale.

Legal & Company Secretarial Duties

• Provide technical support to the Company Secretary including organizing Board & management meetings, circulation of Board papers, and minutes taking as and when required.

• Drafting correspondences, preparing reports, and proof-read documents as assigned.

• Coordinate with external Counsel in availing required documentation and support concerning Court Cases handled on behalf of the Company

• Represent the Company in legal matters before Courts of Law where required

• Draft and review Agreements, Contracts, and other legal documents as and when assigned.

• Carry out legal research and provide reasoned legal opinions.

• Continuous sensitization of staff of the policies, regulations, and standards to be complied with.

• Attend and actively participate in periodic meetings of the Legal Department, and take actions arising from the meetings.