Job Description

JOB DESCRIPTION

Context & Role:

Role:

a) Daily insurance accounting including commission payouts and reconciliation

b) Commission payout processing and TAT Management

c) Co-ordinating with various functions for month-end provisions and ensure that the month-end activities are closed within the timelines

d) Reconciliation of balance sheet accounts related to revenue

e) Account code mapping in policy admin system and financial software

f) Daily TB recon between policy admin system and financial system

g) Work towards strengthening the controls over the commission payout process

h) Co-ordinating for STAT audit(Half yearly and Annual), Internal audit, compliance requirements and IRDA inspection related requirements

Key Responsibilities:

a) Month end activities timely and accurate month-end closure of revenue accounting

b) Monitoring and control on all balance sheet items reconciliation and review of Receivables and payable related to revenue, commission

c) Process improvements and Automation of activities

d) Handling of Internal Audit, Statutory audit and IRDA inspection.

Measures of Performance:

Performance measured on quarterly basis for the points mentioned in Key Responsibility

Desired qualifications and experience :

Qualification: B.com

4 to 5 years in finance with 1 to 2 years experience in Life Asia and Group Asia background and person with experience in Insurance industry and knowledge of SUN accounting software is preferable.

Knowledge and skills required :

MIS reporting activities along with good verbal and written communication skills

Other skills

Person with experience in Insurance industry and knowledge of SUN accounting software is preferable.

Preferable Age in the range of within 25 to 28

Other details
Department:Finance / Accounts / TaxIndustry:InsuranceSkills:finance, accounting software, context, internal audit, closure, mis, sun, insurance accounting, written communication, financial justification, irda, revenue accounting, balance sheet, balance, control, statutory audit, communication skills, stat, mis reporting, tat

Recruiter detailsCompany Name: PNB METLIFE INDIA INSURANCE COMPANY LIMITEDCompany Description:
PNB MetLife India Insurance Company Limited (PNB MetLife) is one of the leading life insurance companies in India. PNB MetLife has as its shareholders MetLife International Holdings LLC (MIHL), Punjab National Bank Limited (PNB), Jammu & Kashmir Bank Limited (JKB), M. Pallonji and Company Private Limited and other private investors, MIHL and PNB being the majority shareholders. PNB MetLife has been present in India since 2001.

PNB MetLife brings together the financial strength of a leading global life insurance provider, MetLife, Inc., and the credibility and reliability of PNB, one of India’s oldest and leading nationalised banks. The vast distribution reach of PNB together with the global insurance expertise and product range of MetLife makes PNB MetLife a strong and trusted insurance provider.

PNB MetLife is present in 107 locations across the country with access to over 100 million customers in more than 11,000 locations through its strong bank partnerships with PNB, JKB, KBL and other bank partners.
PNB MetLife partners with the customers for their entire ‘Circle of Life’ covering their 4 different stages of life – Child Education, Family Protection, Long Term Savings and Retirement. Our comprehensive product portfolio comprises of 16 Savings Products, 13 Protection Products, 5 pension products, and 8 optional riders.

PNB MetLife wide range of protection and retirement products through its Agency sales of over 7,338 financial advisors and multiple bank partners, and provides access to Employee Benefit plans for over 659 corporate clients in India. The company continues to be consistently profitable and has declared profits for last five Financial Years.