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 perks, 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 managem

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