Process Executive - Insurance Risk

Bunge; Sahibzada Ajit Singh Nagar; On-site; INR 600,000 - 900,000; Full time

Job summary

Bunge is seeking a Risk Specialist in Mohali, Punjab, India. The role focuses on the annual review of counterparties and setting accurate credit limits, considering potential exposures and securing open credit with Insurance.

Key responsibilities include updating premium and cash books, preparing scorecards for high limits, and coordinating with insurers and brokers to settle claims and settlements. Strong financial analysis and communication skills are essential.

Qualifications

• Must have university degree (Graduation, MBA , CMA or CA).
• 2-3 years of working experience in finance/accounting/risk, credit function, preferably in Ag industry.
• Knowledge in finance/Insurance risk/trading concepts; experience in calculations for limits, cashbook reconciliation and claims/premium settlements.

Responsibilities

• Annual review of counterparties and assignment of accurate credit limits.
• Evaluate financial statements, payment history and terms; perform mark-to-market limits if needed.
• Prepare and review scorecards for limits above 350K USD and obtain required approvals.
• Coordinate with insurers and brokers for settlements, maintain MIS and reports.
• Build and maintain relationships with cross-functional teams to ensure timely risk assessments.

Job description

City : Mohali State : Punjab (IN-PB) Country : India (IN) Requisition Number : 45440

Role Purpose Statement

The overall responsibility of the Risk Specialist is the accurate and timely annual review of counterparties, assigning of accurate credit limits considering potential exposure of Business partners for existing business partners as well as New counterparties. Detailed annual review includes the evaluation of financial statements, checking customer's payment history and payments terms allowed, mark to market limits, PFE calculations and securing the open credit with Insurance. Preparation of scorecard is also an important activity applicable for the limits above the threshold >350K USD. Approvals to be obtained for higher grades/credit limits as per Bunge Global Credit Policy. It's a critical role as activities and deliverables of this role directly impacts the Bunge's business with it's business partner's across the globe.

Main Accountabilities

• Premium updates within timeliness
• Cash Calls and Cash book updates
• Updating premium underwriting report
• Loss billing and Cargo claims settlements
• Follow ups with Insurer and broker regarding settlement of claims
• Balance sheet reconciliation
• Review claims payments and reserves
• Insurance MIS , stock statements,
• Coaching trainees and newcomers on company and helping team members to work in a collaborative manner to achieve the desired objectives
• Build good relationships with the teams/departments involved "

Knowledge And Skills

Behavior

Improve Bunge's outcomes by making data-driven decisions, keeping the customer at the forefront of all they do, and proactively gaining insight into the global strategy. Collaborate, effectively communicate with others and take initiative to continually develop themselves. Pursue opportunities to solve problems and take action while maintaining the ability to manage work, even in times of challenge or change.

Technical

• Knowledge in finance/Insurance risk/trading concepts (e.g.: , Managing the cliams and premiums settlements, coordinating with Insurer, broker to manage the payments and avoid backlogs/penalties, Updating cashbook and reconcile the balances etc.)
• Experience in accounting and finance , Credit Risk , coordination with stakeholders and follow-through to eventual issue resolution and documentation.
• Excellent communications and presentation skills
• The successful applicant will be a detailed-oriented, results-driven, tenacious team player. He/she will have demonstrated an ability to lead the discussion on reconciliation and analysis with key stakeholders (e.g.: commercial organization, finance partner team and market risk teams).
• Ability to provide high quality level of customer service to internal & external stakeholders.
• Ability to work independently, efficiently and deliver high quality output under time pressure.
• Independent and meticulous with figures
• Strong written & oral communications skills in English.
• Strong problem solving & organizational skills.
• Experience in managing people and processes through a sustained period of change
• Excellent computer skills and competency in Microsoft Office (Word, PowerPoint, Excel, Outlook)

Education & Experience

• University degree (Graduation, MBA , CMA or CA)
• 2-3 years of working experience in finance/accounting/risk, credit function, preferably in Ag industry.

Distinct Advantage

• Experience working in a similar Shared Services Centre setup
• Experience in processing of high volumes of transactions
• Experience in SAP
• Strong customer service, communication skills/soft skills
• Working exposure in commodity industry

At Bunge (NYSE: BG), our purpose is to connect farmers to consumers to deliver essential food, feed and fuel to the world. As a premier agribusiness solutions provider, our team of :34,000 dedicated employees partner with farmers across the globe to move agricultural commodities from where they’re grown to where they’re needed—in faster, smarter, and more efficient ways. We are a world leader in grain origination, storage, distribution, oilseed processing and refining, offering a broad portfolio of plant-based oils, fats, and proteins. We work alongside our customers at both ends of the value chain to deliver quality products and develop tailored, innovative solutions that address evolving consumer