Business Function

As the leading bank in Asia, DBS Consumer Banking Group is in a unique position to help our customers realise their dreams and ambitions across 600 branches across the country. As a market leader in the consumer banking business, DBS has a full spectrum of products and services, including deposits (incl. structured solutions for NRI), investments, insurance, mortgages, credit cards and personal loans to help our customers realise their dreams and aspirations at every life stage.

Job Purpose:

To build and oversee a robust compliance, control, and businessquality framework for the DBS Bancassurance business. The role ensures strong governance, audit readiness, adherence to regulatory guidelines/policies, and sustained business quality through improved persistency, reduced clawbacks, and enhanced customer outcomes.

Key Accountabilities:

Establish and maintain a strong compliance environment, manage audits, policies, regulatory adherence.
Business Quality & Persistency Management:
Improve persistency, quality metrics, and reduce clawbacks across partners.
Job Duties & responsibilities
Compliance & Control: Adherence to regulatory requirement for insurance business, annual internal policy reviews, board approvals, SP certification with maker-checker. Adherence to bancassurance to sale process
Coordinate audits & data requirement: Group Insurance, Cyber Security, IRDA audit, RBI, regional; manage submissions and findings.
Ensure data governance: MIR/IRDAI storage compliance, customer info acknowledgement, tech change compliance.
Manage complaints: IGMS handling, joint investigations; implement IRDAI circulars.
Document governance: Secure storage, maker-checker for proposal forms.
Persistency management: Drive 13M/25M/37M improvement initiatives across partners.
Quality monitoring: Track surrenders, freelook, complaints; recommend product/process changes.
Support analytics: Provide business insights, data propensity, re-engineer processes for Life & GI.

Requirements

Minimum 5-8 Years experience in Bancassurance, Compliance,Audit and Insurance Operations
Experience handling IRDAI regulations, audits, and risk governance and business quality parameters

Education / Preferred Qualifications

Graduate/Postgraduate (MBA preferred).

Core Competencies

Self-motivated, Strong stakeholder management.
Analytical and problem-solving skills.
High ownership, agility, and ability to work cross-functionally.
Knowledge of IRDAI guidelines and banking processes.

Technical Competencies

Understanding of IRDAI regulations, audit, complaint management systems (IGMS).
Experience with data governance, audit processes, and MIR reporting.
Insurance product and process knowledge.

Work Relationship

Work closely with insurers, internal product teams, operations, compliance, legal, and audit teams.
Act as central coordinator for internal and external stakeholders.

DBS India - Culture & Behaviors

Display DBS values of Purpose-driven, Relationship-led, Innovative.
Uphold compliance-first mindset and customer-centric approach.
Promote a culture of transparency, collaboration, and integrity.
KPIs
Persistency improvement across partners (13M/25M/37M targets)
Reduction in commission clawbacks
Conversion ratio enhancement across sales funnels
Surrender & freelook rate reduction
Audit findings closure rate & TAT compliance
Regulatory adherence score (IRDAI circular implementation TAT)
Complaint resolution TAT & IGMS adherence
Data & document governance compliance (maker-checker accuracy

Location:

Mumbai

Job:

Product Management

Schedule:

Regular

Employee Status:

Full time

Senior Associate,Business Quality and Compliance Lead ,Bancassurance Product, Consumer Banking Group