Insurance Finance Process Specialist

22 hours ago

Jaipur, Rajasthan, India beBeeFinancial Full time ₹ 12,00,000 - ₹ 18,00,000

Transforming Financial Processes is a crucial role in the insurance sector.

A large-scale transformation programme seeks to engage a skilled Finance Tester with experience in insurance finance systems and cash management.

The key responsibilities of this position involve validating end-to-end financial processes, focusing on penny testing, subledger reconciliation, and cash lifecycle testing (bank statement matching, AR/AP, treasury payments).

Candidates will work closely with Finance, Actuarial, and Technology teams to ensure the integrity of financial data and compliance with industry standards throughout the programme.

  • Develop and execute test cases for insurance-specific finance processes, including penny testing (validating transactions down to the pence/cent level), subledger and GL reconciliation (verifying postings from policy admin, claims, and reinsurance systems), bank statement matching (ensuring correct cash allocation to policies, claims, and premiums), and treasury payments (testing outward payments, credit control, and cash application).
  • Test integrations between policy administration systems, claims systems, and the finance subledger to ensure end-to-end process accuracy.
  • Validate IFRS/UK GAAP postings and confirm accounting rules are correctly applied for premiums, claims, and reinsurance.
  • Perform data validation for high-volume insurance transactions and ensure data integrity across multiple source systems, including actuarial and exposure management inputs.
  • Log, track, and retest defects in JIRA (or similar tool), collaborating with IT and finance teams to resolve issues quickly and provide detailed defect evidence and impact assessment.
  • Support business users during UAT by providing guidance, preparing test evidence, and facilitating issue resolution.
  • Communicate test progress, risks, and issues effectively to project managers, business stakeholders, and leadership teams.

Key qualifications for this role include:

  • At least 3 years' experience in finance/ERP testing within the insurance or financial services sector.
  • Hands-on experience with penny testing, reconciliations, and cash management workflows.
  • Good understanding of insurance finance flows: premiums, claims, reinsurance, and bordereaux processing.
  • Knowledge of subledger posting logic, chart of accounts, and financial controls.
  • Strong Excel skills for reconciliation and data validation.

Preferred qualifications include:

  • Experience with Workday Financials, SAP, Oracle Financials, or other insurance finance platforms.
  • Familiarity with policy administration systems and claims systems (e.g., Guidewire, Sapiens).
  • ISTQB or similar testing certification.

Required qualifications include:

  • Bachelor's degree in Finance, Accounting, or IT (or equivalent experience).
  • Strong communication and stakeholder management skills, with the ability to bridge the gap between finance and IT teams.

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