Position : AVP - Banking & Systems Department : Business Finance Function: Finance Key Responsibilities: Collections: - Lead the review of effective system design to collect premium of 20,000Cr across all branches/ digital modes in India. - Manage & monitor prompt deposition of collected as per the agreed turn around time. - Monitor - Day end and Month end certification of cash and cheque balances. - Ensure compliance with AML Policy of the Company across 90+ Lakhs transaction a year. - Put in place an effective process to ensure allocation of monies to policy holder accounts is as per applicable insurance regulations. Ensure adherence to Section 69VB of the Act and other applicable section s of Insurance Law - Ensure accurate allocation of NAV adherence to regulation on all renewal receipts collected - Smooth audits of branches across Indian by external Auditors and also perform self reviews Product Launch : - Represent the Finance patch in design of Product functionalities and specifications. - Identify Day 0, Day 1 & Day 3 requirements and ensure delivery as per agreed calendar - Functional specification documentation and business requirement documentations is reviewed for completeness and placed for discussion with the FC. - Benchmark product build and features administrations across life insurance industry. Banking : - Engage with Banking Partners (04 Banks) to identify new areas of Premium collection, disbursement and efficiency - Engage with Banks to create a seam less process for collection and disbursement flow roughly 30,000 Crs. - Competition Benchmarking to ensure best in class service at optimum level of cost. - Work closely with bankers on excess cash disposition, bank charges reduction, process improvements, and resolving day to day issues of Daily BRS of bank accounts . - Informative MIS to Management on trends - Banking changes etc. - Build an auto recon process with more than 95% automatch in system Measure of Success : - Ensure timely collection receipting, Remittance Transmittal Form preparation and bank deposition by branches - Ensure branches have completed daily EOD in myMoney system - Monthly Reporting AML violations - Complete month end activity per laid SLA - No adverse comments in audit - Adherence of committed TAT - Holding fortnightly reviews and ensuring closures of open items - Fortnightly Dashboard on BRS Open Items - Publishing Dashboard on monthly basis on Banking activities - Feedback from Internal and External customers - Supervisor feedback Product Launch: - Ensuring complex & critical product features are developed before actual hit date - Analysis & Documentation of Finance systems requirements for products and functionalities - Participate in New Product and Develop Process - Ensure the requirement of Finance/For finance are enshrined in the new products - Status update on System readiness for Day 1, Day 2 requirement. - Timely and availability of product functionalities in system for supporting administration of the same Release Management (Across all systems): - Lead the process of requirement gathering from the user, analyse the requirement and brain storm with IT to identify the most optimum solutions. - Create comprehensive and detailed business requirement document (BRD) - Walk through of the requirement of the Technology Team. - Lead the Prioritisation discussion with IT and Internal Stake holder. - Review preparedness of teams to perform testing and verify the results to ensure robustness of the built - Assimilate cross functional assessment of tests performed and give go ahead for productionization . Defect Management : - Proactive discussion with Bz users and IT on a defects logged and resolution thereof - Prioritization of critical items - Ensure no - Repeat- issues are logged. Access Control: - Responsible for governing the access granted, users across the applications - Setup periodic review with respect to the role Performed . Super user for ERP Develop into an Oracle SME Key Organisational Initiative: - Design ERP interface for near real time transactions processing - Participate and engage in IMU correction issues, provide best possible solutions - Participate in compliance EWG as finance representative and actively work on new regulations - Represent Finance in ORG and work towards highlighted risks - Partner with Operations for providing best in class banking, collection & technology solutions - Non Business Day functionality - Saksham II Report Project Other Critical Activities: - Creation and Sing off of System Accounting Manual - Preparation of User Setup Manual Desired qualification and experience - Post Graduate and/or MBA with 10-12 years of experience in handling receivables / Bank reconciliation / Collection / Audit - Sound system knowledge of core collection software modules - Preferably should have been part of a financial process control team - Should have experience in Insurance/banking / financial / telecom / retail industry with background in backend collections / bank reconciliation process Knowledge and skills required: Eye for detail, result orientation, Accounting experience and ability to analyse the flow of a functional process, Ability to handle pressure and work in a competitive environment. Open to learning, Very High Process orientation, Effective communication skills, Presentation Skill, Proficiency in working on MS-Office (Esp Excel)

Gurgaon/Gurugram

Max Life Insurance - AVP - Banking & Systems 

Max Life Insurance - AVP - Banking & Systems  ,Job Description for Max Life Insurance - AVP - Banking & Systems  in Max Life Insurance in  Gurgaon/Gurugram for (10-18) years of experience. Apply Now!

Job Description for Max Life Insurance - AVP - Banking & Systems  in Max Life Insurance in  Gurgaon/Gurugram for (10-18) years of experience. Apply Now!