Manager, Reinsurance Administration

Overview

Manager role in the core operational function of reinsurance administration, handling and processing large volumes of client premium and claims data in RGA systems, and providing information and reporting to downstream stakeholders.

What you'll do

• Process premium and claims data received from client insurance companies in RGA systems.
• Analyze premium and claims transactions to ensure accurate reporting and accounting.
• Perform brought-to-account activity for claims in a timely manner.
• Close month-end subledger postings on time and error free.
• Review pending claims and accrued premium on a regular basis, perform ageing analysis, and plan processing improvements.
• Interact with insurance companies for timely data submission, data processing issues and data quality observations.
• Drive data quality corrections wherever required.
• Ensure retrocession premium and claims are correctly accounted for in a timely manner.
• Develop tools for monitoring data quality and internal controls using technology.
• Drive continuous process improvement using technological solutions.
• Configure systems for new products, treaties and clients for accurate accounting and reporting.
• Automate control checks used for month-end reporting, audit and client data validation.
• Develop a tool to support Blue Book reporting analysis so queries can be answered effectively.
• Interact with IT and Business Analyst teams for system enhancements, including user acceptance testing.
• Lead recurring IT and process projects to completion in a timebound manner.
• Lead the audit engagement for the admin process and ensure audit inputs are shared in a timely manner.
• Ensure audit observations are tracked and closed appropriately.
• Understand stakeholders' reporting needs and design and automate these reports.
• Understand configuration needs from the treaty, pricing and BD teams.
• Communicate effectively with stakeholders to close outstanding issues and design solutions.

What you'll need

• Postgraduate in commerce (accounting) or mathematics, or degree in engineering, or Chartered Accountant (IPCC level).
• Minimum of 6 years of post-qualification work experience in financial services (for postgraduates).
• Minimum of 8 years of post-qualification work experience in financial services (for graduates).
• Worked in an Operations, Back Office or Finance function handling financial reporting and reconciliation, with at least 2 years at a supervisory level.
• Exposure to insurance and reinsurance administration operations (preferably reinsurance administration).
• Managing outsourcing vendors involved in data entry, both off site and on site.
• Handling quality control checks and review activities of financial transactions.
• Basic to intermediate SQL knowledge, with knowledge of data extraction and report generation mandatory.
• Intermediate to advanced Excel skills, with knowledge of macros and report generation mandatory.
• Accuracy and eye for detail.
• Good verbal and written communication skills.
• Ability to work well within a team environment.
• Ability to cope with competing demands and prioritize tasks.
• Project management expertise.

Nice to have

• Life insurance or reinsurance experience.
• Chartered Accountant, BE or data analytics background.
• LOMA certification (Associate or Fellow).
• Completed courses or papers in Actuarial Science.
• Lean Six Sigma or other quality management certification.
• Exposure to Power BI, Alteryx, Tableau.

Details

• Location: Mumbai, India.