Insurance Financial Process Specialist

3 days ago

Rajkot, Gujarat, India beBeeFinance Full time ₹ 60,00,000 - ₹ 1,20,00,000
Finance Specialist Job Summary

We are seeking an experienced Finance Specialist to join our team. This role will involve working closely with the finance and actuarial teams to ensure the integrity of financial data and compliance with industry standards throughout a large-scale transformation program.

  • This is a challenging opportunity for a skilled professional who can validate end-to-end financial processes, including penny testing, subledger reconciliation, and cash lifecycle testing (bank statement matching, AR/AP, treasury payments).

The successful candidate will have strong experience in insurance finance systems and cash management, as well as excellent communication and stakeholder management skills. They will be able to bridge the gap between finance and IT teams, ensuring seamless collaboration and effective issue resolution.

Key Responsibilities
  1. Develop and execute test cases for insurance-specific finance processes, including penny testing, subledger and GL reconciliation, bank statement matching, and treasury payments.
  2. Test integrations between policy administration systems, claims systems, and the finance subledger to ensure end-to-end process accuracy.
  3. Validate IFRS/UK GAAP postings and confirm accounting rules are correctly applied for premiums, claims, and reinsurance.
  4. Perform data validation for high-volume insurance transactions and ensure data integrity across multiple source systems, including actuarial and exposure management inputs.
  5. 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.
  6. Support business users during UAT by providing guidance, preparing test evidence, and facilitating issue resolution.
Requirements
  • Minimum 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
  • 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.
Education
  • Bachelor's degree in Finance, Accounting, or IT (or equivalent experience).

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