Associate Manager - Maturity Payout

Bharti AXA Life Insurance; Mumbai Suburban; On-site; INR 850,000 - 1,200,000; Full time

Job summary

Bharti AXA Life Insurance in Mumbai is seeking a Payout Operations Specialist for end-to-end maturity payout processing, validation, and secure disbursement within strict timelines.

You will manage maturity case tracking, verify documents, compute amounts including bonuses, and coordinate with banks to ensure timely fund transfers. The role requires AML/KYC checks, audit trails, and collaboration with service teams to resolve payout queries.

Qualifications

• Education: Bachelor’s degree in Accounting, Commerce or Business Administration.
• Experience: 4–6 years in financial operations, banking operations, life insurance claims or payout processing.

Responsibilities

• Maturity case management and proactive payout initiation.
• Review and verify customer submission documents (identity proofs, policy documents, bank details).
• Compute maturity amounts including accrued interest, bonuses, loyalty additions, or deductions.
• Initiate and execute fund transfers through secure channels (NEFT, RTGS, IMPS, wire).
• Maintain audit trails and assist auditors with required documentation and logs.

Skills

AML/KYC checks

Payout processing

Bank transfers

Education

Bachelor's degree, Accounting, Commerce, Business Administration

Job description

• Job Title: Payout Operations - Maturity Payout Processing
• Department: Operations (Maturity Payment)
• Location : Mumbai - Malad

Job Purpose

The Payout Operations Specialist is responsible for the end-to-end processing, validation, and disbursement of maturity payout process. This role ensures that all customer payouts are calculated accurately, verified against compliance standards, and disbursed securely within strict timelines.

Key Responsibilities: -

• Maturity Case Management Monitor and track upcoming product maturity dates to initiate the payout process proactively.
• Review and verify customer submission documents (identity proofs, original policy/bond documents, bank details, discharge forms).
• Compute exact maturity amounts, including accrued interest, bonuses, loyalty additions, or deductions, ensuring alignment with product terms.

Transaction Processing & Disbursement: -

• Initiate and execute fund transfers through secure banking channels (NEFT, RTGS,IMPS, or wire transfers).
• Reconcile payout registers daily against bank statements to ensure successful fund clearance.
• Investigate, resolve, and track rejected or bounced transactions, coordinating with banks and customers for updated details.

Risk, Compliance &; Audit: -

• Perform rigorous Anti-Money Laundering (AML) and Know Your Customer (KYC) checks before authorizing any high-value disbursement.
• Maintain comprehensive digital and physical audit trails for every processed payout.
• Assist internal and external auditors by providing requested documentation and transaction logs. Stakeholder Coordination.
• Collaborate with Customer Service teams to address client queries regarding payout calculations, delays, or required documentation.
• Partner with the IT and Product teams to flag and resolve system glitches in the automated payout modules.

Required Qualifications & Skills: -

• Education: Bachelors degree, Accounting, Commerce, Business Administration
• Experience: 4-6 years of experience in financial operations, banking operations, life insurance claims, or payout processing.