Senior Executive

4 weeks ago

Thane, India Tata AIA Life Insurance Full time
Position Overview

Position Title

Senior Executive– Company Initiated Payouts

Department

S2S-Operations – Company Initiated payouts

Level/ Band

Senior Executive

Role Summary (Please specify the few lines one the overall role expectation and delivery)

The candidate will be responsible for processing payouts (Maturity, Surrender, Survival Benefits, Unclaimed) and managing the same with complete ownership. Ensure adherence to Regulatory TATs and comply with IRDAI regulations and company policies.

Organizational Relationships

Reports to

Manager

Supervises

Nil

Job Dimensions

Geographic Area Covered

Pan India

Stakeholders Internal

F&A, Customer Service, IT, Field Operations

External

Vendors / Call Centre

Key Result Areas ( In Bullet points )

· Candidate should be familiar with various Payouts processes of Maturity, Survival Benefit, Annuity, Surrender, Part Surrender, Freelook, etc. Timely processing of company initiated payouts.

· Responsible for Unclaimed management for the company.

· Should be well versed with regulatory reporting – BAP, Public Disclosures, IIB and Form A&B. Also would be responsible for various management reportings

· Responsible for end to end processing including managing rejections, communications, escalations.

· Ensure response to the GRC / Contact Center support team within agreed SLA. Responsible for managing various SLA for the assigned Activities. Ensure that all actionable arising out of audits conducted by GIA, Compliance and Risk teams are completed within agreed timelines.

· Liaise with Finance for timely payouts, Stop payments, fresh cheque issuance and final confirmations.

· Prepare payout vouchers on details received from Finance and update POS system / tracker.

· Should have an eye for detail wherein he/she should be capable of highlighting process changes, process gaps and system developments which would improve the overall customer experience.

· Undertake quality check for document requirements and follow up with customers for pending requirements.

· Outcalling the policyholders to ensure correctness of bank details submitted and thereby validate the policyholder.

· Periodic review of disbursement and vendor accounts and ensure timely closure of all pending items.

· Provide various ad-hoc data/MIS/report to internal stakeholder. 

Competencies: Domanin Knowledge of Policy Servicing ProcessingProficient in Excel and Data Management

G Skills Required

Technical

Behavioral *

Essential

Desired

Interpersonal skills

·

Communication skills

·

Creative thinking skills

·

Supervising/Leadership skills

·

Teamwork Skills

·

Influencing skills

·

Relationship Building skills

·

Decision making skills

·

H Incumbent Characteristics

Essential

Desired

Qualification

Graduation

Experience

2-3 Years in the area of Policy Servicing of Life Insurance

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