Sr. Manager- I - FINANCE SC

ICICI Prudential Life Insurance; Mumbai; On-site; INR 900,000 - 1,300,000; Full time

Job summary

A leading life insurance company in Mumbai is looking for a professional to manage the ReNova system and oversee reinsurance accounting activities. Responsibilities include coordinating with reinsurers, automating processes, and ensuring timely regulatory reporting. Ideal candidates should possess domain knowledge, decision-making skills, and the ability to collaborate effectively across cross-functional teams. This role is critical for enhancing operational efficiencies and compliance within the reinsurance framework.

Qualifications

• Experience in reinsurance or finance roles.
• Strong analytical skills to assess reinsurance impact.
• Ability to collaborate with cross-functional teams.
• Strong analytical skills and process-improvement mindset.
• Customer orientation with SME domain knowledge.

Responsibilities

• Manage ReNova system and reinsurance accounting.
• Implement reinsurance arrangements in the ReNova system.
• Conduct regulatory reporting (IRDAI).
• Prepare reinsurance bordereaux and accounts with timeliness.
• Share bordereaux with reinsurers within deadlines.
• Follow up on invoices and settlement of accounts.
• Coordinate with Claims, Underwriting, Group and Actuaries.
• Ensure regulatory reporting (IRDAI) compliance.
• Maintain strong collaboration across departments.

Skills

Domain knowledge (SME)

Customer orientation

Creativity and Innovation

Decision Making

Project management

Collaboration with teams

Education

Bachelor's degree in Finance/Insurance

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.