Assistant Manager

Job Purpose

The role is responsible for understanding the requirement and identifying parameters to be finalized for preparing reports to be submitted to IRDA. It plays a role laying the framework to perform product/system enhancement testing at any given point. It is also responsible for liaisoning with auditors to resolve their queries to ensure smooth audit closure.

Job Context & Major Challenges

Job Context: The role is responsible for understanding the requirement and identifying parameters to be finalized for preparing reports to be submitted to IRDA. It plays a role laying the framework to perform product/system enhancement testing at any given point. It is also responsible for liaisoning with auditors to resolve their queries to ensure smooth audit closure.

Job Challenges:

• In a changing regulatory framework, ensuring relevant regulatory compliances and timely submission of IRDA Reports are done in accurate and timely manner.
• With the change in the nature of business carried out by company ensuring that the accounting for the same is correctly performed.
• Understanding of the business process and checking the User Acceptance Test (UAT) of all the enhancements and products.
  
  

Key Result Areas

KRA (Accountabilities) (Max 1325 Characters)Supporting Actions (Max 1325 Characters)

KRA1 Technical Accounts Operation 1. To ensure that all premium and service tax are accurately accounted for.

• Ensuring all the re-class entries are correctly uploaded in the system and analyzing the impact of the same on other processes.
• Preparing and analyzing PDC data sent to Actuarial which forms the basis of Actual Liabilities on every month end.
• Ensuring Reinsurance Premium and claims are accurately booked and timely disbursed and service tax there on is correctly booked.
• Checking of the charges prepared segment wise and fund wise.
• Preparation of various recons (CS Recon, FFA and PD) and analyzing the movement month on month.
• Checking the various data sent to other teams (planning, group ops, internal audit)
  
  

KRA2 Timely preparation of Regulatory Reporting and support in Audit 1. Checking all the monthly, quarterly, yearly and life council reports sent to IRDA

• Defining the logic and checking all the Adhoc reports as and when required by regulator.
• Ensure readiness of the team to meet any Adhoc reporting requirement from IRDA within a reasonable time by building data framework in BO.
• Ensuring that all the auditors requirement are timely provided and satisfactory resolution is provided to them for all the queries raised.
• Liasoning with various departments for ensuring timely submission of IRDA reports and smooth closure of audit queries.
  
  

KRA3 Facilitate Product Testing and enhancements 1. Obtain understanding of all the new Products and ensure accurate testing of the same is done on timely basis.

• Understanding the new enhancements initiated by various teams and analyzing the impact on our processes on timely basis.
• Educating other team members on various aspects of Ingenium, Premium accounting and related functionality.
  
  

KRA4 Special Project 1. Identifying areas where automation can be done to increase the efficiency and accuracy.

• Ensuring all the issues cropped up are permanently resolved.