Sr. Manager- I - FINANCE SC

ICICI Prudential Life Insurance; Mumbai; On-site; INR 600,000 - 800,000; Full time

Job summary

A leading insurance company in Mumbai is seeking a professional to manage the reinsurance administration process. The role entails overseeing the ReNova system, handling reinsurance accounting, and preparing regulatory reports. Candidates should possess domain knowledge and demonstrate strong collaboration skills with a focus on customer orientation and innovation. Proficiency in ReNova/DCS is essential, along with experience in managing reinsurance calculations and settlements.

Qualifications

• Experience in managing ReNova system for reinsurance accounting.
• Knowledge of reinsurance arrangements and insurance product treaties.
• Ability to perform regulatory reporting to IRDAI.

Responsibilities

• Manage reinsurance premium and claims computation.
• Set up products and treaties in the ReNova system.
• Prepare reinsurance regulatory reports.
• Calculate reinsurance premiums, claims, and reserves.
• Coordinate with internal departments for claims and settlements.

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?

• 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

• Understanding of various reinsurance arrangements.
• Implementation of reinsurance arrangements in the ReNova system.
• Understanding of insurance product / reinsurancetreaties.
• Calculation of reinsurance premiums/Claims/Reserves.
• Preparing reinsurance bordereaux and accounts.
• Sharing bordereaux with reinsurers within timeline.
• Follow up for invoices and submission for settlement ofthe accounts.
• Managing Internal department co-ordination with Claims/UW/Group/Actuaries etc.
• Regulatory reporting (IRDAI).
• Excellent command over ReNova/DCS.