Manager - Business Finance - Insurance

- Financial Accounting and analytics

- Financial accounting relating to premium, commission, claims, sales incentive and contests.

- Ensure correct accounting allocations between departments, locations, products and segments

- Expense management within defined budgets and highlight deviations

- Month end provisioning to ensure smooth and correct financial closing of books of accounts

- Responsible for system enhancements with regard to finance patch

- Managing Business Finance

- Ensure accurate and payouts for commissions

- Finalization of business arrangement with Business Partners

- Monitoring Business Partners profitability and business targets

- Calculation of incentive of sales force and ensure monthly payouts

- Periodical review of statement of accounts and quarterly reconciliation with Business Partners

- Responsible for finance system enhancements

- Reinsurance Accounting and Reconciliation

- Calculation of monthly reinsurance premium provision

- Booking of accurate reinsurance claim recoverable from re-insurer.

- Reconciliation of claim paid vs. re-insurance claims.

- Preparation of Statement of Accounts and quarterly reconciliation with re-insurer.

- Management and Statutory Reporting

- MIS on Distribution performance relating to new business sales, Renewal Collection

- Dashboards on monthly profitability and business projections

- Variance Analysis on Premium Collection, Sales Segment, Product MIX, Commission and OPEX

- Responsible to any adhoc statutory submission relating to premium collected, claims paid and commission payouts

DESIRED COMPETENCIES:

- Sound understanding of business finance laws and statutory regulations pertaining to financial management, reporting of premium and claim numbers

- Hands on experience in compliance with IRDA regulations & regulatory reporting

- Experience in handling reconciliation between Policy Administration System and Oracle

- Expert Knowledge and hands on experience of business finance and operations.

- Strong Financial and commercial acumen.

- Attention to detail and quality orientation.

- Strong analytical, problem solving & decision making abilitie

EDUCATION, EXPERIENCE & ELIGIBILITY:

- CA or MBA in Finance with 5 - 9 yrs of similar experience in service industry with strong accounting experience

- At least two to three years of strong experience in a service organisation, preferably an insurance company with good knowledge in Premium, Claim and Commission process and IRDA rules.

Salary range - 8-10 LPA