The Senior Manager - Payout Operations is responsible for overseeing end-to-end customer and company payout processes, ensuring accurate, timely, compliant, and fraud-controlled disbursement of financial obligations. The role focuses on operational excellence, regulatory adherence, customer satisfaction, and financial governance.
Key Responsibilities:
1. Payout Operations Management (Maturity, survival advantages, surrender, partial withdrawals, annuity, refund of excess premium)
Ensure timely settlement within regulatory turnaround times.
Approve high-value and complex claims within delegated authority limits.
Monitor pending payouts, escalations, and grievances.
Ensure accurate calculation and disbursement of payouts
Validate reconciliation between finance, operations and IT
Drive automation and straight through processing
2. Regulatory & Compliance Management
Ensure compliance with guidelines issued by the Insurance Regulatory and Development Authority of India (IRDAI).
Ensure adherence to AML, KYC, fraud prevention, and audit requirements.




Coordinate with internal and statutory auditors.
Ensure timely regulatory reporting and accurate data submission.
Monitor and timely clearance of outstanding amount
3. Financial Control & Risk Management
Ensure accurate payout computations
Strengthen maker-checker and approval frameworks
Prevent duplicate / erroneous payouts
Track and mitigate operations risks
4. Process Excellence & Digitization
Drive automation and straight through processing and improve payout journeys
Implement process improvements to optimize cost & efficiency
5. Customer Experience & Service Excellence
Ensure seamless payout experience with minimal documentation
Monitor NPS / grievance trends related to payouts
6. Stakeholder Management & Team Leadership
Collaborate with IT, Digital, Finance, legal and actuaries
Vendor management
Lead and mentor a team of managers and executives
Drive performance management and capability development
Measure of Success:
10

📌 Senior Manager – Policy Servicing (Gurugram)
🏢 Axis Max Life Insurance
📍 Gurugram