Sr. Manager- I - FINANCE SC

ICICI Prudential Life Insurance; Mumbai; On-site; INR 700,000 - 1,100,000; Full time

Job summary

A prominent financial services company in Mumbai is seeking a candidate for the Reinsurance Administration role. The position involves managing the ReNova system, preparation of regulatory reports, and coordination with various stakeholders. Ideal candidates will possess strong domain knowledge, a customer-oriented approach, and the ability to collaborate effectively. This role is crucial for ensuring compliance with reinsurance arrangements and regulatory standards.

Qualifications

• Excellent command over ReNova/DCS.
• Understanding of various reinsurance arrangements.
• Experience in implementation of reinsurance arrangements.

Responsibilities

• Managing ReNova system and reinsurance accounting.
• Preparing reinsurance regulatory reports.
• Calculating reinsurance premiums/claims/reserves.
• Prepare and share bordereaux with reinsurers within deadlines.
• Coordinate invoices and settlements with internal stakeholders.
• Liaise with Claims/UW/Group/Actuaries for smooth processes.
• Ensure IRDAI regulatory reporting accuracy and timeliness.
• Maintain strong knowledge of ReNova/DCS systems.

Skills

Domain knowledge (SME)

Customer orientation

Creativity and Innovation

Decision Making

Drive projects

Collaboration with cross-functional team

Tools

ReNova

DCS

Job description

Reinsurance Administration process is part of finance team, which takes care the reinsurance administrative activities including :-

• Reinsurance premium and claims computation.
• Products/treaty set-up in ReNova.
• Analysis and impact assessment on re-insurance process of new product launch.
• Coordination with reinsurer for account settlement.
• Automation and process improvement.

What are we looking for?

• Domain knowledge (SME).
• Customer orientation.
• Creativity and Innovation.
• Decision Making.
• Drive projects.
• Collaboration with cross-functional team.

What does the job entail?

Managing ReNova system, reinsurance accounting along with preparation of reinsurance regulatory reports including but not limited to the following activities

1. Understanding of various reinsurance arrangements.
2. Implementation of reinsurance arrangements in the ReNova system.
3. Understanding of insurance product / reinsurancetreaties.
4. Calculation of reinsurance premiums/Claims/Reserves.
5. Preparing reinsurance bordereaux and accounts.
6. Sharing bordereaux with reinsurers within timeline.
7. Follow up for invoices and submission for settlement of the accounts.
8. Managing Internal department co-ordination with Claims/UW/Group/Actuaries etc.
9. Regulatory reporting (IRDAI).
10. Excellent command over ReNova/DCS.