Loss Adjustment Expense Assistant

Department: Accounting & Finance

Employment Type: Permanent - Full Time

Location: Pune

Description

Reporting to the Team Lead, this position will support LAE general accounting operations, including managing incoming payments, funding schedules, investigating variances, coordinate fund schedules and requests, reconciliations, month end, support cashflow tracking, etc.

Key Responsibilities

• Reconcile incoming payments against expected receipts, funding schedules, and internal records
• Review payment activity to identify variances, timing differences, or discrepancies
• Coordinate and schedule fund requests in accordance with contractual terms, forecasts, and funding calendars
• Prepare and submit funding requests to insurers or clients
• Track the status of scheduled fund requests to ensure timely funding and receipt
• Communicate funding requirements, payment activity, and reconciliation results to senior management
• Maintain detailed records of payments, reconciliations, and funding transactions
• Assist with month-end close activities related to payment reconciliation and funding
• Support cash flow tracking and reporting by providing accurate payment and funding data
• Investigate and resolve payment discrepancies or funding issues in collaboration with internal teams
• Ensure compliance with internal controls, approvals, and documentation requirements

Skills, Knowledge and Expertise

• Bachelor's degree in commerce, accounting, finance, or related field.
• 2-3 years' relevant experience in insurance industry and having exposure to LAE accounting and reporting
• Previously worked in a shared services environment.
• Advanced Excel skills
• Excellent IT skills in use of Microsoft tools (PowerPoint, Word etc.)
• Knowledge of financial accounting, process, and systems. Working knowledge of ERP's
• Knowledge of the insurance industry, able to read and understand schedules of insurance/mud maps/insurance tower placements
• Desirable, knowledge of Loss Adjustment Expense (LAE)
• Strong analytical and problem-solving skills. Analytical Thinking - acquiring a proper understanding of a problem or situation by breaking it down systematically into its component parts and identifying the relationships & linkages between processes.
• Demonstrable ability to multi-task and prioritize with excellent organization and documentation skills in a fast-paced, dynamic work environment.
• Capable of working collaboratively and independently with minimal supervision
• Knowledge of UK, US and Canadian GAAP an advantage but not essential.
• Relevant experience with at least 2 years working in insurance industry within shared services
• Knowledge of the insurance industry, able to read and understand schedules of insurance/mud maps/insurance tower placements
• Excellent written and verbal communication skills, ability to articulate complex information.
• Excellent working knowledge of Microsoft Excel including lookups, pivot tables, sumif (s) /countif (s), etc.
• Attention to detail, and accurate fact-based interpretation.
• Ability to set clear priorities and objectives