Key Responsibilities:
Roles & Responsibilities / KRA:
1) Insurance Pay-outs, Reinsurance Pay-outs, Revenue Accounting & Reconciliation.
• Follow the process of BAU accounting, month-end & post month end activities in Revenue Accounting, Insurance Pay-outs, Reinsurance Accounting Pay-outs and reporting, Unclaimed reporting and Reconciliations.
• Ensure timely month end book closure by ensuring all the accounting entries are closed over month end.
• There should not be any recon open items more than 90 days & items above 90 days to be closed.
• There should be proper analysis and reasoning for the items open in the reconciliation.
• Analytical review of Revenue accounts and month on month variance account analysis.
2) Good governance of Policy admin system (i.e. Life Asia and Group Asia) & Stakeholder management.
• Finding all the issues that occur while performing B.A.U. activities in Group Asia & Life Asia and highlighting the same to IT for resolution.
• Zero tolerance for revenue leakages.
• Managing stakeholders inclusive but not limited to - Sales Project Team, Operations, etc.
3) Process Control, Documentation of SOPs & maintenance of timelines
• Maintaining proper SOPs for process control for Insurance Pay-outs, Reinsurance & Revenue Accounting.
• Ensuring effectiveness of RCMs for Insurance Pay-outs, Reinsurance & Revenue Accounting.
• Effective management of work within timelines
4) Ad- hoc Reconciliation & Statutory & Regulatory Reporting:
• Facilitating and closure of ad-hoc reconciliation with Policy admin database, etc.
• Completion of Statutory Reports
• Completion of Regulatory Reports
5) Managing Statutory & Internal Audit, IFC, IRDA and resolution of Audit queries:
• Providing required data to the auditors for conducting audit.
• Closure of all audit requirements.
• Resolution of audit queries.
6) Facilitating in the automation of Revenue Activities.
• Automation of revenue month end activities.
• Automation of Post month end & B.A.U. Activities.
Required qualifications and experience:
• Qualification: B com graduate / Post Graduate in finance & Accountancy
• Preferred Experience: 3/5+ years in Life Insurance industry with relevant experience in Revenue / Technical accounting
• Good at technical knowledge in SQL / Java / MS access language
• Good Communication skills and able to convince the counterpart within Finance and Operation team
• Excellent Analytical skills/ Logical Skills with eye for details
• Quick learner with an ability to work in high pressure environment with challenging deadlines.
Knowledge and skills desired:
• Knowledge of Life Insurance process i.e. Premium, commission, claim cycle.
• Reasonable command on Power point- Must know built-up & formatting of PPTs
Key Responsibilities:
Roles & Responsibilities / KRA:
1) Insurance Pay-outs, Reinsurance Pay-outs, Revenue Accounting & Reconciliation.
• Follow the process of BAU accounting, month-end & post month end activities in Revenue Accounting, Insurance Pay-outs, Reinsurance Accounting Pay-outs and reporting, Unclaimed reporting and Reconciliations.
• Ensure timely month end book closure by ensuring all the accounting entries are closed over month end.
• There should not be any recon open items more than 90 days & items above 90 days to be closed.
• There should be proper analysis and reasoning for the items open in the reconciliation.
• Analytical review of Revenue accounts and month on month variance account analysis.
2) Good governance of Policy admin system (i.e. Life Asia and Group Asia) & Stakeholder management.
• Finding all the issues that occur while performing B.A.U. activities in Group Asia & Life Asia and highlighting the same to IT for resolution.
• Zero tolerance for revenue leakages.
• Managing stakeholders inclusive but not limited to - Sales Project Team, Operations, etc.
3) Process Control, Documentation of SOPs & maintenance of timelines
• Maintaining proper SOPs for process control for Insurance Pay-outs, Reinsurance & Revenue Accounting.
• Ensuring effectiveness of RCMs for Insurance Pay-outs, Reinsurance & Revenue Accounting.
• Effective management of work within timelines
4) Ad- hoc Reconciliation & Statutory & Regulatory Reporting:
• Facilitating and closure of ad-hoc reconciliation with Policy admin database, etc.
• Completion of Statutory Reports
• Completion of Regulatory Reports
5) Managing Statutory & Internal Audit, IFC, IRDA and resolution of Audit queries:
• Providing required data to the auditors for conducting audit.
• Closure of all audit requirements.
• Resolution of audit queries.
6) Facilitating in the automation of Revenue Activities.
• Automation of revenue month end activities.
• Automation of Post month end & B.A.U. Activities.
Required qualifications and experience:
• Qualification: B com graduate / Post Graduate in finance & Accountancy
• Preferred Experience: 3/5+ years in Life Insurance industry with relevant experience in Revenue / Technical accounting
• Good at technical knowledge in SQL / Java / MS access language
• Good Communication skills and able to convince the counterpart within Finance and Operation team
• Excellent Analytical skills/ Logical Skills with eye for details
• Quick learner with an ability to work in high pressure environment with challenging deadlines.
Knowledge and skills desired:
• Knowledge of Life Insurance process i.e. Premium, commission, claim cycle.
• Reasonable command on Power point- Must know built-up & formatting of PPTs
