Sr. Manager- I - FINANCE SC

ICICI Prudential Life Insurance; Mumbai; On-site; INR 1,200,000 - 1,900,000; Full time

Job summary

A renowned insurance company in Mumbai is seeking a dynamic Subject Matter Expert to support its reinsurance team. The role involves managing the ReNova system, overseeing reinsurance accounting, and preparing regulatory reports. Ideal candidates will have robust domain knowledge, a customer-oriented mindset, and skills in decision-making and project driving. This position offers a significant opportunity for those passionate about reinsurance and eager to make an impact in a collaborative environment.

Qualifications

• Experience in managing reinsurance activities and regulatory reporting.
• Strong knowledge of insurance products and reinsurance treaties.
• Ability to handle reinsurance premium and claims computation.
• Strong decision making with ability to prioritize.
• Ability to drive projects and deliver on timelines.
• Collaboration with cross-functional teams including Claims/UW/Group/Actuaries.

Responsibilities

• Manage the ReNova system and reinsurance accounting.
• Prepare reinsurance regulatory reports as required.
• Understand and implement various reinsurance arrangements.
• Calculate reinsurance premiums, claims, and reserves.
• Coordinate with internal departments for claims and underwriting.
• Coordinate internal departments to ensure accurate settlements.
• Support regulatory reporting requirements.

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?

A dynamic and energetic Subject Matter Expert (SME) tosupport reinsurance team in managing overall reinsurance activities with a highlevel of integrity, faster execution, respect for timeline and efficientinteraction 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 withpreparation of reinsurance regulatory reports including but not limited to thefollowing 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).

• Excellent command over ReNova/DCS.