Sr. Manager- I - FINANCE SC

ICICI Prudential Life Insurance; Mumbai; On-site; INR 500,000 - 700,000; Full time

Job summary

A major life insurance company in Mumbai seeks a candidate for reinsurance administration. Responsibilities include managing the ReNova system, preparing regulatory reports, and coordinating with internal departments. The ideal candidate should have domain knowledge, creativity, and the ability to work with cross-functional teams. Strong skills in customer orientation and decision-making are essential for success in this role.

Qualifications

• Experience in reinsurance administrative activities including premium and claims computation.
• Understanding of various reinsurance arrangements and insurance products.
• Ability to prepare regulatory reports (IRDAI).

Responsibilities

• Manage the ReNova system and reinsurance accounting.
• Implement reinsurance arrangements in the ReNova system.
• Prepare bordereaux and manage internal department coordination.

Skills

Domain knowledge (SME)

Customer orientation

Creativity and Innovation

Decision Making

Collaboration with cross-functional team

Tools

ReNova

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.