Job DescriptionThe 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.
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nKey Responsibilities:
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n1. Payout Operations Management (Maturity, survival advantages, surrender, partial withdrawals, annuity, refund of excess premium)
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- Ensure timely settlement within regulatory turnaround times.n
- Approve high-value and complex claims within delegated authority limits.n
- Monitor pending payouts, escalations, and grievances.n
- Ensure accurate calculation and disbursement of payoutsn
- Validate reconciliation between finance, operations and ITn
- Drive automation and straight through processingn

n2. Regulatory & Compliance Management
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- Ensure compliance with guidelines issued by the Insurance Regulatory and Development Authority of India (IRDAI).n
- Ensure adherence to AML, KYC,



fraud prevention, and audit requirements.n
- Coordinate with internal and statutory auditors.n
- Ensure timely regulatory reporting and accurate data submission.n
- Monitor and timely clearance of outstanding amountn

n3. Financial Control & Risk Management
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- Ensure accurate payout computationsn
- Strengthen maker-checker and approval frameworksn
- Prevent duplicate / erroneous payoutsn
- Track and mitigate operations risksn

n4. Process Excellence & Digitization
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- Drive automation and straight through processing and improve payout journeysn
- Implement process improvements to optimize cost & efficiencyn

n5. Customer Experience & Service Excellence
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- Ensure seamless payout experience with minimal documentationn
- Monitor NPS / grievance trends related to payoutsn

n6. Stakeholder Management & Team Leadership
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- Collaborate with IT, Digital, Finance,

📌 Senior Manager (Haryana)
🏢 Axis Max Life Insurance
📍 Haryana