Sr. Manager- I - FINANCE SC

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

Job summary

A leading insurance company in Mumbai is seeking a Subject Matter Expert (SME) for their reinsurance administration team. The role involves managing the ReNova system, overseeing reinsurance accounting, and preparing regulatory reports. Ideal candidates will have expertise in reinsurance processes, strong customer orientation, and the ability to drive projects and collaborate with cross-functional teams. This position promises a dynamic work environment focused on integrity and rapid execution.

Qualifications

• Experience in reinsurance processes and regulations.
• Ability to manage reinsurance accounts and reports.
• Familiarity with automation and process improvements.

Responsibilities

• Manage the ReNova system and reinsurance accounting.
• Implement reinsurance arrangements in the ReNova system.
• Calculate reinsurance premiums, claims, and reserves.
• Prepare regulatory reports and maintain timelines.
• Co-ordination with Claims/UW/Group/Actuaries for seamless processes.
• Regulatory reporting (IRDAI) compliance.

Skills

Domain knowledge (SME)

Customer orientation

Creativity and Innovation

Decision Making

Drive projects

Collaboration with cross-functional team

Tools

ReNova/DCS

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.