Share this Job

Finance Specialist -Reinsurance Admin & Accounting

Date Posted: Apr 14, 2021

Location: Noida, IN, 0

Company: MetLife

Finance Specialist -Reinsurance Admin & Accounting

 

Job Description – Reinsurance Admin & Accounting

 

Position Title: Specialist

 

Function, Responsibility Level: Operations, Executive

 

 

 

Reports to (Responsibility Level): Team Leader/ Assistant Manager – Operations

 

 

Supervises: N/A

 

 

Location: Noida

 

Global Grade:

9

Cost Center (85 series):

 

85025750

Complexity:

C5T3

PID/s Load Mapping:

 

 

Position Summary

 

 

This position is responsible for a wide range of functions related to the administration of reinsurance agreements, including reinsurance settlements, accounting, reconciliation, and financial reporting.

 

 

 

 

 

 

 

 

 

 

 

 

  1. Calculate and process monthly settlements, accounting, reconciliations, and financial reporting.

 

  1. Follow up with bank and other internal customer for closure of open items and provide backup for all discrepancies.

 

  1. Ensure all the assigned targets are met in accordance with SLA and Internal Standards.

 

  1. Ensure that quality of transaction is in compliance with predefined parameters as defined by Process Excellence.

 

  1.  Process payment to or from reinsurers on a monthly or quarterly basis, including initiating wires, accounting and reconciliation.

 

  1.  Provide trend analysis on the different components of reinsurance settlements and their impact on the financial reports.

 

  1. Provide assistance with reinsurance requests for internal and external customers.

 

  1.  Provide support commentary and /or data on balance sheet certifications

 

  1.  Prepare and assist in various yearend financial reporting and analysis.

 

  1. Participate in special projects, reinsurance initiatives, or company initiatives as required

 

  1. Propose and implement recommendations to improve efficiency, controls and accuracy of reinsurance procedures

 

  1. Assist in the documentation of reinsurance workflows.

 

  1. Assist in quarterly and year-end reporting requirements

 

 

 

 

 

Knowledge, Skills and Abilities

 

 

Education

  • Graduate in Accounting / Commerce / Business Administration with at-least 15 years of education and an experience of 2-3 years preferably from reinsurance domain.
  • CA Inter having 2-3 years of experience preferably from reinsurance domain.

 

 

Experience

  • Experience in Accounting, Treaty administration, knowledge of GAAP/STAT accounts and closing and reporting related activities. Analyze and research all discrepancies. Investigate and resolve outstanding items.
  • Minimum 1 year experience in related field is required
  • Overall experience of 2-3 years in similar industry and related profile is required

 

 

Knowledge and skills (general and technical)

 

Follow-up with banks and other internal customers for closure of open items and provide back-up for all discrepancies. 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
  • Good communication skill (both written and oral) as the associate is required to interact with stateside partner on regular basis.
  • 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
  • Excellent follow-up and co-ordination ability. Calls with Stateside teams are unscripted.

 

 

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):

 

  •  
  •  
  •  

 

External Contacts

(and purpose of relationship) – If Applicable

 

  •  
  •  
  •  
  •  

 

 

 

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.