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Job Description
Job Description
Basic Details:Fill the required information about business, unit, location, position, reports to position and date of updation of JD |
Business | Wellness | ||
Unit | Aditya Birla Health Insurance Co. Limited | ||
Location | Goregaon , Mumbai | ||
Poornata Position Number of the job | Reports to: Poornata Position Number | ||
Poornata Position Title of the job | Reports to: Poornata Position Title | ||
Function | Legal, Audit, Risk & Compliance, Sec | Reports to: Function | Legal, Audit, Risk & Compliance, Sec |
Department | Legal, Audit, Risk & Compliance, Sec | Reports to: Department | Legal, Audit, Risk & Compliance, Sec |
Designation of the Employee | RLC-2 Dy Chief Manager -Legal | Designation of the Manager | RLC-1 Head - Legal & Product Compliance |
Date of writing/updation of JD | February 9, 2018 |
1) Job Purpose:Write the purpose for which the job exists (in 2-3 lines) |
The role will be responsible for providing support in review of legal agreements including distribution arrangements, commercial agreements and property leases. Also shall handle legal matters in consultation with internal and external legal counsels including attending courts, consumer forums, Ombudsman, etc. The role will also be responsible towards product compliance including review of product documentation and advertisements. |
2) Dimensions: Mention quantitative or qualitative parameters that are relevant for the job and provide a better understanding of the scope and scale of the job. | ||||||||||||||||||||||||||
Team Size (Function Workforce Number) |
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Other parameters |
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3) Job Context & Major Challenges:Write the specific aspects of the job that provide a challenge (internal and external) to the jobholder in the context of the Business/Unit/Function/Department/Section |
About the Health Insurance Industry - While the current market sees more than 15 non-life players in the private space and 5 exclusive private players in the health insurance space trying to capture a sizable market share, the nationalized service provider (6) remains a strong competitor. In addition to this the business dynamics are such that the overall market on an annual basis which is to the tune of roughly 10,000 Crs sees close to 85 % of the business renewing with the existing service provider itself. This narrows down the opportunity of the fresh business actually being seriously fought in the market to approximately 1500 odd Crs. With the SME and the start-ups being the driving force of Indian economy, the opportunity to cater to these segments is immense and is increasing manifold year on year. The challenge here therefore remains as to how we capture a larger share of the opportunity by developing specific solutions to cater each segment of the business. Also by creating an inexpensive and standardized solution to increase the reach into the pockets of channel partners across the country to harness on their captive business and explore new opportunities with them. Market Opportunities - With the advent of medical advancements, lifestyle changes, change in Indian socio-economic scenario and Indian healthcare space, and the insurers are facing challenges to cater to the needs of this diverse clientele. Increasingly Indian customers have started considering health insurance partners as extensions of health advisers. In this scenario it becomes extremely important to understand their psyche and then provide tailored solutions with wellness benefits which would help them meet their end objectives and bring in profitable revenue source for the company. About the Aditya Birla Health Insurance - Aditya Birla Health Insurance Co. Limited (ABHICL) was incorporated in 2015 as a 51:49 joint venture between Aditya Birla Capital Limited (ABCL) and MMI Strategic Investments (Pty) Ltd. ABHICL commenced its operations in October 2016. ABHICL has entered the competitive health insurance market with an aim to expand the category to wider customer segments, beyond the ones that health insurance companies traditionally have marketed to. As the 6th entrant in a category with well-established players, ABHICL is creating differentiation and equity for itself though the unique business proposition of Health Insurance for All, a one of a kind proposition in India at the moment. This is a philosophy that is being built through every single consumer touch point and into every single backend process of the company to ensure a customer's experience of our proposition is continuous and seamless. ABHI's unique offering to market includes proposition includes -
In view of increasing regulatory requirements and monitoring, it becomes pertinent for Secretarial & Legal department of Company to remain up-to-date on the regulatory requirements and effectively monitor the implementation/ fulfillment of the requirements in a time bound manner. Further, various process and documents needs to be vetted by the legal function to adequately protect the interests of the Company. Challenge - Internal
Challenge - External
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4) Key Result Areas:Writethe key results expected from the job and the supporting actions for each of these key result areas (For a majority of jobs typically there could be 4- 7 key result areas) | |
Key Result Areas | Supporting Actions |
Main Responsibilities | |
Product Documents |
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Advertisement Review | Review of advertisements and comply with regulatory norms including filing of the same with Regulator |
Drafting / Review / Execution Agreement |
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Legal Cases |
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Protection of Company's Trademarks/ IPRs |
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Status update and Compliance |
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5) Job Purpose of Direct Reports:Describe the job purpose of the direct report/s to the job (in 2-3 lines for each report) |
Nil |
6) Relationships:Describe the nature and purpose of most important contacts or relationship (except superior/team members) with individuals, departments, organizations inside and outside of the organization, that job is required to interact with in order to deliver the job objectives | ||
Relationship Type | Frequency | Nature |
Internal | ||
| Regular | For Compliance |
External | ||
| Need Based On a need basis On a need basis | For various services related to Legal Function For Legal Advice/ Legal Cases For Legal Cases or on behalf of the Company |
7) Organizational Relationships:Provide the structure for a level above and below the position for which this job description is written. Use position titles in the structured and indicate all the reports of the position. |
SIGN-OFF:Provide the name of the Manager and the jobholder. Signature needed for the hard copy of the JD. Hard copy to be maintained in the organizational record. | ||
Job Holder | Reports to - Manager | |
Name | ||
Signature(needed for the hard copy) |
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