Sr. Manager- I - FINANCE SC

ICICI Prudential Life Insurance; Mumbai; On-site; INR 1,500,000 - 2,100,000; Full time

Job summary

A leading financial services company in Mumbai is seeking a dynamic Subject Matter Expert to support the reinsurance team. The ideal candidate will manage reinsurance accounting, implement various arrangements in the ReNova system, and prepare regulatory reports with precision. Strong domain knowledge in reinsurance, collaboration skills, and efficiency in internal and external interactions are essential. This role demands creativity, decision-making abilities, and a commitment to timelines.

Qualifications

• Experience in managing reinsurance activities with integrity.
• Ability to interact efficiently with internal and external stakeholders.
• Strong command of reinsurance processes and systems.
• Decisive in taking prudent, timely decisions.
• Able to drive projects to timely completion.
• Collaborates with cross-functional teams.

Responsibilities

• Manage reinsurance accounting and preparation of regulatory reports.
• Implement various reinsurance arrangements in the ReNova system.
• Calculate reinsurance premiums, claims, and reserves.
• Prepare and share bordereaux with reinsurers on time.

Skills

Domain knowledge (SME)

Customer orientation

Creativity and Innovation

Decision Making

Drive projects

Collaboration with cross-functional team

ReNova

DCS

Tools

ReNova

DCS

Job description

Reinsurance Administration process is part of finance team, which takes care of 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) to support reinsurance team in managing overall reinsurance activities with a high level of integrity, faster execution, respect for timeline and efficient interaction 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 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 / reinsurance treaties.
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.