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 n Key Responsibilities: N n1. Payout Operations Management (Maturity, survival benefits, surrender, partial withdrawals, annuity, refund of excess premium) Nn 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 payouts N Validate reconciliationbetween finance, operations and IT N Drive automation and straight through processing Nn2. Regulatory & Compliance Management Nn Ensure compliancewith 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 amount Nn3. Financial Control & Risk Management Nn Ensure accurate payout computations N Strengthen maker-checker and approval frameworks N Prevent duplicate / erroneous payouts N Track and mitigate operations risks Nn4.



Process Excellence & Digitization Nn Drive automation and straight through processing and improve payout journeys N Implement process improvements to optimize cost & efficiency Nn5. Customer Experience & Service Excellence Nn Ensure seamless payout experience with minimal documentation N Monitor NPS / grievancetrends related to payouts Nn6. Stakeholder Management & Team Leadership Nn Collaborate with IT, Digital, Finance, legal and actuaries N Vendor managementn Lead and mentor a team of managers and executives N Drive performance management and capability development Nn Measure of Success: Nn 100% TAT adherence as per regulatory provision N NPS Target - >70% N Timely reporting of Dashboard/MIS N Reduction in Service Grievances / Escalations by 40% N Internal Audit Rating –2 or higher than 2 N Timely review and maintenance of SOPs N Reduce Penal Interest by 30% N Reduce Cost per transaction by 25% Nn n Desired qualifications and experience: Nn Should be a Post Graduate, preferably with Insurance background & Professional qualification. N Solid understanding ofpolicy administration systems. N Must have a minimum of 10-12 years in Insurance and handling the team. Nn n Knowledge and skills required: N nn Strong analytical and financial acumen N Regulatory knowledge N Risk and control orientation N Process re-engineering capability N Leadership and decision-making skills Nn

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