Sr. Manager- I - FINANCE SC

ICICI Prudential Life Insurance; Mumbai; On-site; INR 900,000 - 1,500,000; Full time

Job summary

A leading insurance provider in Mumbai is seeking a dynamic Subject Matter Expert to manage overall reinsurance activities. This role requires expertise in ReNova and involves tasks such as reinsurance premium calculations, regulatory reporting, and coordinating with various stakeholders. The ideal candidate will have strong domain knowledge, creativity, and decision-making skills to drive projects effectively in a fast-paced environment. This position emphasizes integrity and respect for timelines.

Qualifications

• Experience managing reinsurance activities with integrity and efficiency.
• Familiarity with reinsurance processes and systems.
• Strong communication skills for stakeholder interactions.
• Decision making under tight timelines.
• Drive projects with cross-functional teams.
• Collaborate with Claims/UW/Group/Actuaries for alignment.

Responsibilities

• Manage reinsurance activities within the ReNova system.
• Implement reinsurance arrangements in the ReNova system.
• Prepare reinsurance regulatory reports.
• Coordinate with reinsurers for account settlement and invoicing.
• Ensure timely sharing of bordereaux and follow up for settlements.
• Liaise with internal departments to ensure smooth processes.

Skills

Domain knowledge (SME)

Customer orientation

Creativity and Innovation

Decision Making

Drive projects

Collaboration with cross-functional team

Education

Bachelor's degree in Insurance/Finance

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.

1. Domain knowledge (SME).
2. Customer orientation.
3. Creativity and Innovation.
4. Decision Making.
5. Drive projects.
6. 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.