Sr. Manager- I - FINANCE SC

ICICI Prudential Life Insurance; Mumbai; On-site; INR 800,000 - 1,200,000; Full time

Job summary

A prominent financial institution in Mumbai seeks a Subject Matter Expert (SME) for reinsurance administration. The ideal candidate will manage the ReNova system, handle reinsurance accounting, and ensure compliance with regulatory reporting. Key responsibilities include calculating reinsurance premiums and preparing accounts, while coordinating effectively with internal teams. The role requires a strong knowledge of reinsurance activities and exceptional stakeholder management skills, emphasizing integrity and faster execution.

Qualifications

• Must be a dynamic and energetic Subject Matter Expert (SME) with a focus on reinsurance activities.
• Strong ability to manage overall reinsurance activities with integrity and efficiency.
• Excellent command over reinsurance regulatory reporting, including IRDAI.

Responsibilities

• Manage ReNova system and reinsurance accounting.
• Implement various reinsurance arrangements in the ReNova system.
• Calculate reinsurance premiums, claims, and reserves.
• Prepare reinsurance bordereaux and accounts for timely sharing with reinsurers.
• Coordinate with internal departments for claims and actuarial support.
• Ensure regulatory reporting compliance with IRDAI.

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?

A dynamic and energetic Subject Matter Expert (SME) tosupport reinsurance team in managing overall reinsurance activities with a highlevel of integrity, faster execution, respect for timeline and efficientinteraction with internal and external stakeholders.

• 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 withpreparation of reinsurance regulatory reports including but not limited to thefollowing 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).

• Excellent command over ReNova/DCS.