Sr. Manager- I - FINANCE SC

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

Job summary

A leading life insurance provider seeks a candidate in Mumbai for the Reinsurance Administration role. The position involves managing the ReNova system, calculating reinsurance premiums and claims, and preparing regulatory reports. Ideal candidates will possess domain knowledge, strong decision-making abilities, and excellent skills in collaboration. Key responsibilities include maintaining coordination with various departments, understanding insurance products, and ensuring timely submissions to reinsurers.

Qualifications

• Understanding of various reinsurance arrangements.
• Implementation of reinsurance arrangements in the ReNova system.
• Excellent command over ReNova/DCS.

Responsibilities

• Managing ReNova system and reinsurance accounting.
• Preparing reinsurance regulatory reports.
• Calculation of reinsurance premiums/Claims/Reserves.

Skills

Domain knowledge (SME)

Customer orientation

Creativity and Innovation

Decision Making

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.