Sr. Manager- I - FINANCE SC

ICICI Prudential Life Insurance; Mumbai; On-site; INR 700,000 - 1,200,000; Full time

Job summary

A leading insurance company in Mumbai seeks an individual to manage the reinsurance administration process. Responsibilities include overseeing the ReNova system, calculating premiums, claims, and reserves, and ensuring timely regulatory reporting. The ideal candidate will have domain expertise, strong customer orientation, and skills in decision-making and collaboration. This position is crucial for maintaining effective communication with reinsurers and internal teams.

Qualifications

• Understanding of various reinsurance arrangements.
• Implementation of reinsurance arrangements in the ReNova system.
• Understanding of insurance product / reinsurancetreaties.
• Solid decision making under tight timelines.
• Ability to drive and manage projects end-to-end.
• Collaborate with Claims/UW/Group/Actuaries, etc.

Responsibilities

• Managing ReNova system and reinsurance accounting.
• Preparing reinsurance regulatory reports.
• Calculation of reinsurance premiums/claims/reserves.
• Coordinate with reinsurers for settlement of accounts and invoices.
• Prepare and share bordereaux with reinsurers within deadlines.
• Ensure internal coordination with Claims, Underwriting, Group, and Actuaries.

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 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.