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.
n
nKey Responsibilities:
n
n1. Payout Operations Management (Maturity, survival advantages, surrender, partial withdrawals, annuity, refund of excess premium)
n
n
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
n
n
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
n
n
Ensure accurate payout computationsn
Strengthen maker-checker and approval frameworksn
Prevent duplicate / erroneous payoutsn
Track and mitigate operations risksn

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

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

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

📌 Senior Manager Haryana
🏢 Axis Max Life Insurance
📍 Haryana