Sr. Manager- I - FINANCE SC

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

Job summary

A leading financial services company in Mumbai is seeking a dynamic Subject Matter Expert (SME) to manage the reinsurance activities. The role includes handling reinsurance accounting, preparing regulatory reports, and ensuring the implementation of reinsurance arrangements in the internal systems. Ideal candidates should have a solid understanding of reinsurance processes and the ability to coordinate effectively with various stakeholders. This position offers the opportunity to drive process improvements and creativity in a collaborative environment.

Qualifications

• Experience in reinsurance processes and administration.
• Strong analytical skills for computation and reporting.
• Ability to coordinate with internal and external stakeholders.

Responsibilities

• Manage the ReNova system and reinsurance accounting.
• Prepare reinsurance regulatory reports.
• Implement reinsurance arrangements in the ReNova system.
• Calculate reinsurance premiums/claims/reserves.
• Coordinate with claims and underwriting departments.

Skills

Domain knowledge (SME)

Customer orientation

Creativity and Innovation

Decision Making

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.