Sr. Manager- I - FINANCE SC

ICICI Prudential Life Insurance; Mumbai; On-site; INR 720,000 - 880,000; Full time

Job summary

A leading life insurance company in Mumbai is seeking a Reinsurance Administrator to manage the ReNova system and oversee reinsurance accounting tasks. Responsibilities include computing premiums and claims, ensuring timely report preparation, and collaborating with various internal teams for seamless operations. Candidates should have strong knowledge of reinsurance processes and effective decision-making skills. This critical role offers a chance to drive process improvements and automation efforts.

Qualifications

• Expertise in reinsurance processes and financial analysis.
• Strong understanding of various reinsurance arrangements.
• Ability to automate and improve processes.
• Experience with regulatory reporting and ReNova/DCs interfaces.

Responsibilities

• Manage ReNova system and reinsurance accounting.
• Prepare regulatory reports and seek account settlements.
• Coordinate with internal departments and reinsurers.
• Process implementation of reinsurance treaties in ReNova.
• Coordinate with Claims/UW/Group/Actuaries for settlements.
• Ensure timely submission of bordereaux and invoices.
• Maintain internal department coordination for smooth operations.

Skills

Domain knowledge (SME)

Customer orientation

Creativity and Innovation

Decision Making

Project management

Collaboration

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.