Group Operations - Senior Manager- L4 - Mumbai (Intellion Square)

Job Description: Manager – Life Insurance Operations (Payouts) Department Group Operations – Payouts Designation Senior Manager – Life Insurance Operations (Payouts) Reporting To Chief Manager / AVP – Group Operations Location Goregaon East, IT Park, Mumbai Job Purpose To lead and manage end-to-end policy payout operations including maturity claims, survival benefits, foreclosure payouts, refunds, Unclaim payouts and other customer disbursements while ensuring compliance with regulatory guidelines, service-level commitments, process accuracy, customer experience, and operational efficiency. Key Responsibilities Operational Management Manage end-to-end payout processing across various insurance products. Ensure timely and accurate processing of: CFI Maturity claims/Survival benefits Foreclosure payouts Refunds and excess premium refunds Monitor daily workflow and service delivery against agreed SLAs. Ensure compliance with regulatory and internal control requirements. Team Management Lead, coach, and develop a team of operations executives and assistant managers. Conduct regular performance reviews and provide developmental feedback. Build a high-performance culture focused on quality, productivity, and customer satisfaction. Manage workforce planning and resource allocation. Process Excellence Identify process improvement opportunities and drive automation initiatives. Analyze operational data to improve turnaround times and reduce defects. Drive continuous improvement culture within the team. Risk & Compliance Ensure adherence to IRDAI regulations and company policies. Monitor operational risk indicators and implement corrective actions. Manage audits, compliance reviews, and control testing. Ensure strong governance and fraud prevention controls. Stakeholder Management Coordinate with: Customer Service Finance IT Compliance Risk Management Business Teams Participate in governance forums and management reviews. Provide management reporting and operational insights. MIS & Reporting Prepare and present: Productivity reports SLA dashboards Quality metrics Volume forecasts Risk and compliance reports Track KPIs and initiate actions to improve performance. Key Performance Indicators (KPIs) Payout TAT adherence SLA achievement Accuracy rate Productivity Customer complaint reduction Audit observations closure Operational risk incidents Process improvement implementation Employee engagement and retention Required Qualifications Education Bachelor's Degree (mandatory) MBA/Postgraduate qualification preferred Experience 8–12 years of experience in life insurance operations. Minimum 3–5 years of people management experience. Strong exposure to group payouts/policy servicing operations. Experience in handling large operational teams and SLA-driven environments. Technical Skills Life insurance policy administration systems Payout and claims processing MS Excel (Advanced) Workflow management systems Operational risk management Regulatory compliance (IRDAI) Behavioral Competencies Leadership and team management Decision-making ability Analytical thinking Stakeholder management Problem-solving Process orientation Customer-centric mindset Effective communication and presentation skills Preferred Experience Exposure to Group Operations environment. Experience managing payout transformations and automation projects. Experience handling regulatory audits and compliance reviews.