Sr. Manager- I - FINANCE SC

ICICI Prudential Life Insurance; Mumbai; On-site; INR 800,000 - 1,200,000; Full time

Job summary

A major insurance firm is seeking an individual to manage the ReNova system for reinsurance accounting and regulatory reporting. The ideal candidate must possess domain knowledge and a strong ability to collaborate across teams. Responsibilities include computation of reinsurance premiums and claims, as well as coordination with various departments to ensure timely settlement of accounts and compliance with regulations. Knowledge of reinsurance arrangements and excellent command of ReNova are essential for success in this role.

Responsibilities

• Managing the ReNova system and reinsurance accounting.
• Preparing reinsurance regulatory reports.
• Understanding and implementing various reinsurance arrangements.
• Calculating reinsurance premiums, claims, and reserves.
• Managing internal coordination with relevant departments.
• Regulatory reporting to IRDAI.

Skills

Domain knowledge (SME)

Customer orientation

Creativity and Innovation

Decision Making

Drive projects

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.