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 deve

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