Manager Financial Operations | Policy Payout| Insurance Operation

IndiaFirst Life; Mumbai; On-site; INR 900,000 - 1,400,000; Full time

Job summary

IndiaFirst Life is seeking a capable Financial Operations Manager in Mumbai to lead end-to-end payout processing with a focus on accuracy and adherence to TAT. You will ensure regulatory compliance (IRDAI) and maintain internal policy alignment while driving efficiency across the payout lifecycle.

You will manage a team within Financial Operations, coordinate with stakeholders and vendors, and collaborate with IT to close process gaps. Strong Excel skills and stakeholder management are essential.

Qualifications

• Proven proficiency in MS Excel and data analysis.
• Experience in leading and coordinating a team.
• Strong problem-solving and analytical mindset.
• Effective communication with internal and external stakeholders.

Responsibilities

• Manage end-to-end policy payout operations with high accuracy and defined TAT.
• Ensure payouts comply with IRDAI guidelines and internal policies.
• Monitor payouts to ensure zero/low errors and avoid wrong payouts.
• Lead the Financial Operations team and monitor performance and productivity.
• Handle unclaimed payout follow-ups and closure with stakeholders.
• Identify opportunities for process simplification, automation and efficiency.
• Drive process improvements to reduce average handling time and improve quality and TAT adherence.
• Manage internal and external audits and close audit observations.
• Coordinate with internal teams, vendors and external stakeholders for smooth execution.
• Collaborate with IT to identify gaps and propose solutions.
• Prepare and monitor Business MIS, operational and regulatory reports.
• Drive cost reduction and automation initiatives.

Skills

MS Excel

Team management

Analytical skills

Stakeholder management

Job description

Role & responsibilities

• Manage end-to-end policy payout operations with high accuracy and within defined TAT.
• Ensure payouts are processed in accordance with IRDAI guidelines and internal policies.
• Monitor payout transactions and ensure zero/low error and wrong payouts.
• Lead and manage the Financial Operations team, including team performance, productivity and process monitoring.
• Handle unclaimed payout follow-ups and closure by coordinating with relevant internal and external stakeholders.
• Identify opportunities for process simplification, automation and operational efficiency.
• Drive process improvement initiatives to reduce Average Handling Time (AHT) and improve quality and TAT adherence.
• Manage internal and external audits, including resolution and closure of audit observations.
• Coordinate with internal teams, external stakeholders and vendors for smooth execution and closure of operational activities.
• Work closely with the IT team to identify system/process gaps and recommend solutions.
• Prepare and monitor Business MIS, operational reports and regulatory reports.
• Drive initiatives related to cost reduction, automation and operational efficiency.

Manage vendor relationships and ensure timely resolution of operational issues.

Preferred candidate profile

• Strong analytical and problem-solving skills
• Good communication and stakeholder management skills
• Strong MS Excel skills
• Prior experience in team management