Sr. Manager- I - FINANCE SC

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

Job summary

A leading life insurance firm in Mumbai is seeking a dynamic Subject Matter Expert to manage reinsurance activities with integrity and efficiency. Responsibilities include overseeing the ReNova system, preparing regulatory reports, and computing premiums and claims. Ideal candidates should have a strong knowledge of reinsurance processes and excellent communication skills for effective stakeholder management. This role emphasizes creativity, decision-making, and collaboration within cross-functional teams.

Qualifications

• Experience in managing reinsurance administrative activities.
• Familiarity with reinsurance processes and arrangements.
• Ability to automate and improve processes.
• Decision making under tight timelines
• Ability to drive projects and deliverables
• Collaborates effectively with cross-functional teams

Responsibilities

• Manage the ReNova system and reinsurance accounting.
• Prepare reinsurance regulatory reports.
• Calculate reinsurance premiums, claims, and reserves.
• Coordinate with different internal departments.
• Prepare bordereaux and accounts; share with reinsurers on time
• Follow up on invoices and settlements with internal/external parties
• Coordinate with Claims, Underwriting, Group and Actuaries
• Prepare IRDAI regulatory reporting

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.