Life Insurance Manager

Vivek Kumar Tel: 090******** E-Mail:**************@*****.***

JOB OBJECTIVE: To obtain a significant and challenging role wherein I will learn and seek opportunity in finance and accounts profession. Seeking assignments for financial accounting, Claim Processing, F&F Settlement, funds management, MIS and reporting.

SYNOPSIS

Currently working with Max Life Insurance Company as Assistant Manager - Finance.

Expertise in managing Financial accounting, Accounts payables & receivables, Full & Final Settlement of resigned employees, Bank reconciliation, Audit and compliance, Month-end provisions, MIS and reporting.

Processing and Managing payouts of vendors, agents, employees etc.

Reconciliation of Vendor Accounts.

Reconciliation with bank for payouts & Payout rejections.

Reconciliation of Salary Payable Accounts.

Cost saving by identifying duplicate & wrong Invoices.

Conducting internal audits and handling external auditor’s queries.

Passing journal entries in books.

Managing Compliance Payout like Professional Tax, ESIC, PF etc.

Team handling and relationship building with cross functional department.

Using Oracle, Sunsystem & ep3 software for payable

Preparing month end schedules, MIS & dashboards.

AREAS OF EXPERTISE

Accounts payables and receivables

Monitoring, controlling and processing disbursement function in operation finance.

Ensure timely payout to vendors, employee and agents after checking invoices & Processing within defined TAT.

Ensuring accurate and timely processing (98% TAT achievement) of approx 8000 Claims & full and final settlement of 500 employees (Achievement of 100% TAT) on monthly basis.

Passing journal entry related to salary payout, F&F payout, compliance payout etc.

Financial statement preparation

Helping in Preparation of financial statements by month end provisions, Schedules and ageing analysis of various accounts within given time frame.

MIS & reporting

Preparation of MIS & Publishing various Dashboards to CFO – Claims Payout, F&F Payout, Tab distribution etc.

Monitors account balances and related financial activity for the purpose of ensuring that allocations are accurate and complying with established financial practices.

Audit and compliance

Assisting auditors, for the purpose of providing support and documentation on internal processes for accounts payable and receivable, funds management.

Conducting internal and external audits.

Funds Management

Coordination with bank for funds requirement and disbursement.

Forecasting of daily funds requirement.

Monitoring the inflow & outflow of funds and cash flow of the company to review the cash position.

Preparation and reconciliation of bank statement on daily basis.

Team Management & other activities

Managing team of 7-10 outsource employees for achieving the required goals.

Participates in meetings, in-service training, workshops, etc. for the purpose of conveying and gathering information required to perform job functions.

Performs pre-audits of all payouts for the purpose of ensuring accuracy and appropriateness.

Responsible for system testing of new products development.

Successfully completed Maximiser Training, a training program conducted by Quality department on process improvement.

ORGANISATIONAL DETAILS

Since Apr’12

Max Life Insurance Company as Executive Finance, reports to Manager – Finance

Significant contribution

Helped in preparation of monitoring file for claims to check end to end closure of claims received.

TAT reduction from 15 days to 7 days by identifying non value added steps in processing.

Reduction of P2P TAT from 90 days to 45 and 30 days.

Preparation and publishing of HR related payout dashboard for better monitoring and control on payouts.

Educating employees about claims to reduce discrepant claims (Achieved reduction of 25%)

Emphasis on customer centric approach instead of only claim processing approach.

Liasoning with branch office, regional office & head office to get the feedback for process improvement.

End to end closure of Advance balances by monitoring and regular followup.

Initiated and successfully launched Hotel booking process for Max employees.

Petty cash expenses analysis and reporting for controlling purposes.

Smoothening of clearance process for resigned employees.

Clearance of Stale cheques of employees and compliance payout.

Launching and monitoring of tablet distribution process.

Launching and monitoring of National Pension Scheme for Max Employees.

More systematic approach towards F&F settlement of employees.

Training of Ep3 system to new joinees.

In 2012- Won 3rd position in POY.

Key Projects Handled:

Successfully Launched and Managing tablet distribution process.

Executed project on clearance of old balances in employee accounts leading settlement of Rs. 3Crs and recovery of approx 1 cr. Project awarded 3rd position in POY.

Successfully launched NPS for Max Employees.

IT SKILLS

MS Office (Word, Advanced Excel, Power Point), SUN systems, Vision Excel

Windows XP, Windows Vista

Oracle

ACADEMIA

MBA - Punjab Technical University. 74% (2010)

B.Sc – University of Delhi, 63% (2006)

Senior Secondary (Science)– Bihar School Examination Board, 78% (2003)

PERSONAL DETAILS

Father’s Name : Bhupendra Kumar

Date of Birth : Feb 2, 1987

Address : Sector 17, Gurgaon

Tel : 901-***-****

Linguistic Proficiency : English, Hindi

Contact this candidate