AVP -Underwriting (Reinsurance Management) - Mumbai, India - HDFC Life

Description

About HDFC Life:

HDFC Life, one of India's leading private life insurance companies, offers a range of individual and group insurance solutions. HDFC Life continues to have one of the widest reaches among new insurance companies with about 380+ branches in India touching customers in over 900 cities and towns. Our long-stated strategy of balanced product mix, diversified distribution, continuous product innovation and re-imagining insurance through effective use of technology has enabled us to continue our journey despite the ever-changing external environment.

About the department:

Reinsurance Administration is a crucial element in managing the reinsurance of the organization. It requires efficient administration and check and controls in various aspects of new reinsurer selection, onboarding, payment, clawbacks, agreements, addendums, etc.

Purpose of the Job:

As an AVP, the role requires establishing an end-to-end visibility and governance of all reinsurance related interlinkages, and associated roles and responsibilities. It involves managing a niche team, grooming, guiding them to deliver the requirement

Duties & Responsibilities:

• Devising and implementing controls & system improvements

• Forming and executing Reinsurance strategy

• Review of existing Product/ Benefits set-up process for completeness and accuracy. Effect maker/checker for going forward

• Reconcile and establish process for reinsurance premium payment, outstanding and recoveries Review and establish processes for provisioning, invoicing, credit note and associated record management

• Structure administration and physical execution of reinsurance treaties, endorsements, addendums and associated processes

• Review record management wrt to reinsurance contracts, addendums, provisioning, invoicing, credit note

• Establish a reporting mechanism for metrics committed wrt to reinsurance process

• Review and establish controls for accurate and timely Regulatory reporting obligations wrt to reinsurance

• Compile Audit cadence undergone by RI Admin and ensure preparedness, conduct and ATR closures

• Create knowledge transfer and JITs for wrt reinsurance across processes to ensure standardization, continuity Knowledge

Skills & Abilities:

Educational qualification: Minimum Graduate/ Post Graduate

Work experience – 12-years+ experience in life insurance underwriting/ actuarial/ reinsurance management Life insurance Product and Process knowledge System knowledge- LifeAsia / reNova wrt to product set-up and reinsurance premium

Required Skills:

• Governance skills, Dashboarding

• Analytical abilities, deriving insights, risk identification, determining extent of impact

• Interpersonal skills and Stakeholder Management

• MS Office (strong in Excel, PowerPoint and etc.