Urgent Opening For Manager For Reconciliation/Payout

3 days ago

Mumbai, India Landmark Insurance Brokers Full time

Reconciliation:

Reconcile daily, weekly, and monthly premium collections from payment gateways, banks, and aggregators.

Match policy issuance data with received premiums to ensure completeness and accuracy.

Reconcile claims paid vs approved claims from TPA or internal claims team.

Perform reconciliation of agent commissions, bonuses, and overrides.

Investigate discrepancies in transaction records and coordinate with internal teams for resolution.

Maintain reconciliation dashboards and prepare MIS reports for management.

Payouts:

Process timely payouts for:

Agent commissions and bonuses.

Refunds for cancelled policies or overpayments.

Validate bank account details and payout files before disbursement.

Coordinate with banking partners and internal treasury teams for payment processing.

Track and report pending and failed payouts, and follow up for resolution.

Compliance & Controls:

Ensure all reconciliation and payout activities adhere to IRDAI guidelines and internal audit standards.

Support internal and external audits with relevant data and documentation.

Maintain up-to-date process documentation and SOPs.

Key Skills & Qualifications:

Bachelor's degree in Finance, Commerce, Accounting, or related field.

24 years of experience in insurance finance operations, preferably in reconciliation or payouts.

Understanding of insurance business processes: premiums, claims, agents, etc.

Strong command over MS Excel (Pivot Tables, VLOOKUP, etc.) and Payout and Reco software.

Familiarity with IRDAI regulations and insurance accounting standards.

Excellent attention to detail, organizational, and problem-solving skills.

Ability to handle large volumes of transactional data accurately.

Preferred Experience:

Experience working in a motor/life/health insurance company or insurance aggregator or insurance broker.

Exposure to reconciliation automation tools or RPA is a plus.

Soft Skills:

Strong communication and coordination skills.

Ability to work under pressure and meet tight deadlines.

Proactive attitude with a process-improvement mindset.

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