Sr. Manager- I - FINANCE SC

ICICI Prudential Life Insurance; Mumbai; On-site; INR 1,200,000 - 2,000,000; Full time

Job summary

A leading insurance firm in India is seeking a dynamic Subject Matter Expert to support its reinsurance team. This role involves managing reinsurance activities, implementing arrangements within the ReNova system, preparing regulatory reports, and ensuring effective collaboration with stakeholders. The ideal candidate will possess domain knowledge, excellent customer orientation, and strong project management skills, driving innovation and efficiency in the process.

Qualifications

• Experience in reinsurance accounting and regulatory reporting.
• Proven ability to manage timelines and coordinate with teams.
• Strong analytical skills to assess impact of reinsurance processes.
• Strong decision making under tight timelines across stakeholders.
• Leadership to drive projects and manage milestones.
• Collaborates effectively with Claims/UW/Group/Actuaries and other teams.

Responsibilities

• Manage overall reinsurance activities with high integrity and efficiency.
• Implement and manage reinsurance arrangements in the ReNova system.
• Calculate reinsurance premiums, claims, and reserves.
• 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 of the accounts.
• Managing Internal department co-ordination with Claims/UW/Group/Actuaries etc.
• Regulatory reporting (IRDAI).
• Maintain excellent command over ReNova and DCS.

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 of 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) to support reinsurance team in managing overall reinsurance activities with a high level of integrity, faster execution, respect for timeline and efficient interaction 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 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 / reinsurance treaties.
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.