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Assistant Manager

Date Posted: Apr 25, 2021

Location: Noida, IN, 0

Company: MetLife

Assistant Manager

 

Job Description – Reinsurance Annuity

 

Position Title: Assistant Manager

 

Function, Responsibility Level: N/A

 

 

 

Reports to (Responsibility Level): UM/ Manager

 

 

Supervises: Accounts Associates/ Specialist

 

 

Location: Noida

 

Global Grade: 10

 

Cost Center (85 series):

 

85025750

Complexity:

 C5T5

PID/s Load Mapping:

 

 

Position Summary

 

 

This position is responsible for a wide range of functions related to the (i) administration of reinsurance agreements, including reinsurance settlements, accounting, reconciliation, and financial reporting and (ii) reinsurance system implementation, including developing specifications, test plans and performing UAT.

 

 

 

 

 

 

 

 

 

 

 

 

1.  Prepare periodic reinsurance settlements by compiling data from the ledger, direct administration systems, the reinsurance data mart, valuations and various other internal sources

 

 

2. Assist with monthly financial reporting, such as booking accounting entries, setting up wire transfers in TWS and balance sheet certifications. Ensure overall governance and highlight/escalate potential issue.

 

 

3. Assist with the analysis of current and historical financial results for reinsurance business; design and prepare reports/studies that will enhance the analysis. Answer issue based queries to Reinsurance Controllers relating to analytics

 

4 Compare Reinsurance claims to Direct claims and Reinsurance reserve requirements

appropriate

 

5. Assist with the implementation of new treaties in the ERDR system

 

 

6. Prepare Annual DAC Tax computation for Tax department and DAC tax letters for reinsurers.

 

 

7 Perform research relating to queries raised by reinsurers, auditors, etc. and assist with preparing timely responses

 

 

8. Prepare internal MIS and analytics relating to reinsurance Inquiries highlighting resource utilization and turnaround time and provide tracking of audits (Reinsurance, D&T, SOX, and State side)

 

 

9. Assist in preparation of Management reports.

 

10. Prepare periodic reinsurance settlements by compiling data from the ledger, direct administration systems, the reinsurance data mart, valuations and various other internal sources

 

11. Assist with the analysis of current and historical financial results for reinsurance business; design and prepare reports/studies that will enhance the analysis. Answer issue based queries to Reinsurance Controllers relating to analytics.

 

12. Review work performed by Accounts Associates and bring value addition in the process using lean and other Six sigma tools.

 

 

Knowledge, Skills and Abilities

 

 

Education

  • Bachelor’s degree, preferably in finance or accounting and an experience of 5-7 years in industry of same domain. 
  • Preferably MBA Finance/ M.com/CA Inter with at least 4-5 years of experience.
  • CA with 0-4 years of experience.

 

 

Experience

  • Minimum 1 year experience as AM/TL is required in related field
  • Overall experience of 5-7 years in similar industry and related profile is required
  • Experience in Accounting, Treaty administration, knowledge of GAAP/STAT accounts and closing and reporting related activities.
  • Should possess experience in handling end to end month end activities ranging from booking of accruals, processing payments through Wire etc.
  • Investigate, resolve and reconcile outstanding balances and items.

 

 

Knowledge and skills (general and technical)

 

Ensure closure of all month-end activities within stipulated time with 100% accuracy. Understand the complexities involved in treaty settlement and captive reporting and ensure seamless submission of reporting templates to different stakeholders. Should be proficient in Microsoft office tools. Ensure that the assigned targets are met in accordance with SLA and Internal standards. Ensure that the quality of transaction is in compliance with predefined parameters as defined by Process Excellence. Research & Analytical skill is required.

 

  • Good computer navigation skills, ability to work with multiple mainframe and web-based systems
  • Strong PC skills, knowledge of Microsoft Office, with exceptional strength in Excel and Access
  • Excellent analytical skills, with an ability to research and resolve complex problems
  • Life insurance accounting/finance experience strongly preferred
  • Reinsurance administration experience preferred but not required
  • Experience with systems implementation/corrections/enhancements
  • Proficiency in English
  • Experience reading and interpreting business documents and contracts
  • Strong interpersonal, communication and relationship building skills
  • Data gathering ability/ attention to detail
  • Ability to work in a team environment with minimal supervision
  • Ability to work successfully in fast paced, production driven environment with tight deadlines
  • Adaptable to change
  • Should possess excellent follow-up and co-ordination ability as process involves daily unstructured and complex interaction with state-side partners and external reinsurers.

 

 

Other Requirements (licenses, certifications, specialized training – if required)

  • Candidate should be well versed with accounting packages used in industry like Cubus, BI, People Soft, Cadency etc
  • Knowledge of Lean Principles and its application in the process is preferred.

 

 

Working Relationships

 

Internal Contacts

(and purpose of relationship):

 

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External Contacts

(and purpose of relationship) – If Applicable

 

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Enclosures:

 

MetLife Values :

Our purpose and values

Our purpose is why we are in business and reflects what we stand for and believe in. Our purpose is to help people pursue more from life. Our values are how we achieve that purpose, through an expression of who we are, what we stand for as a company and how we conduct our business:

Customers First

Put Customers First
Caring for and respecting customers is core to everything we do. It defines our work and shapes the culture for our people, radiating out to our shareholders and communities.

Be The Best

Be The Best
We are relentless in our search for new and better ways of doing things. As a leader in our industry, we constantly raise the bar, take calculated risks and learn quickly from our mistakes.

Make Things Easier

Make Things Easier
Products in our industry aren't always easy to understand. That's why we are always looking for simpler ways to connect customers to the best solutions. By doing this, we aim to exceed their expectations and build trust.

Succeed Together

Succeed Together
United by our purpose, we live by a collective commitment to honesty, integrity and diversity. We are open and inclusive, proudly taking and applying the best ideas from every part of our company.

 

 

               

 

MetLife:

 

MetLife, through its subsidiaries and affiliates, is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East.

 

We are ranked #44 on the Fortune 500 list for 2019. In 2019, we were named to the Dow Jones Sustainability Index (DJSI) for the fourth year in a row. DJSI is a global index to track the leading sustainability-driven companies.      

 

MetLife is committed to building a purpose-driven and inclusive culture that energizes our people. Our employees work every day to help build a more confident future for people around the world.

 

MetLife is a proud Equal Employment Opportunity and Affirmative Action employer dedicated to attracting, retaining, and developing a diverse and inclusive workforce. All qualified applicants will receive consideration for employment at MetLife without regards to race, color, religion, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity or expression, age, disability, national origin, marital or domestic/civil partnership status, genetic information, citizenship status, uniformed service member or veteran status, or any other characteristic protected by law.