Pradeep Kolte
Muscat
Summary
Overall seventeen year of experience of the field & eight years of experience working in the Finance department (Reinsurance) for three Life & General Insurance Companies. Prompt communication with brokers and reinsurers. Upholding the solvency margins that management has mandated. IFRS 17 Data Requirements for Reinsurance Accounting Records are being prepared. In addition to preparing detailed schedules of outstanding and prepaid balances for financial audits. Managing different Internal and External audits with ease. Preparation of Various Reports specified by IRDA & CMA.
Overview
18
18
years of professional experience
1
1
Certification
Work History
Consultant - Reinsurance
Sky Moon Consultant
Muscat
12.2022 - Current
- Working with clients Liva Insurance Company SAOC in Finance &Accounts (Reinsurance) & Liva Group SAOG formerly known as National Life & General Insurance Company SAOG
- Passing bank transactions i.e. Receipts & Payments in Oracle (Fusion)System.
- Reconciliations with the reinsurer or broker on the outstanding balances statement.
- Preparing IFRS 17 Data requirement for Various Reports on Receivables, Balance Sheet, and Reinsurance.
- Preparation of timely various reports as specified by CMA, such as GWP Splits LBO wise, Quarterly sharing Various Number of Policies LBO Wise, etc.
- Quarterly preparation of various schedules to the balance sheet.
- Preparation and timely maintenance of the monthly Fixed Assets Register.
- Worked on Merger & acquisition and passing various entries for Purchase Consideration.
Deputy Manager - Reinsurance
Magma HDI General Insurance Company Limited
Mumbai
09.2021 - 12.2022
- Liaison with Operation Team for Bookings
- Liaison with Brokers/Cedents for documentations
- Co-ordinate with Underwriters for endorsement & FAC Slip
- Inter department coordination for system enhancement and development
- Maintain MIS for Outstanding proposal request
- Follow up with Reinsurers and Brokers
- Various reports pertaining to FAC Inward & Outward
- Various outward processing payments of Reinsurers & Brokers of FAC Premium & GST
- Maintaining Solvency Margin of FAC Premium
- Reconciliation of FAC Premium & GST Balances with various Reinsurers & Brokers
Accounts Manager - Reinsurance
ICICI Lombard General Insurance Company Limited
Mumbai
03.2017 - 09.2021
- Handling FAC claim Receivable MIS Tracker.
- Passing banking entries for receipts of FAC Claim through SAP & REIS System.
- Follow up with various Reinsurer/Brokers for FAC Claim Recovery(Major clients Handled by me are KMD, Magma, Bajaj).
- Uploading various Expenses, Premium & Claims entries in PNLAutomation system which is charged to SAP.
- Handling FAC claim Receivable queries resolving & discussion with the Reinsurer/Brokers.
- FAC Claim Reconciliations on outstanding balances statement to Reinsurer/Broker.
- Auditor’s query resolutions in quarterly audit.
- Payment to reinsurer/broker on account of Recovery from the salvage or any excess payment made by them.
- Payment to Credit party (i.e. COFACE) on the basis of the SOA &Invoice share by them
- Various BAP forms data requirement preparations as required by IRDA
- Maintaining Solvency Margins for FAC Outward
Assistant Accounts Manager
Crescent Entertainment & Tourism Limited
Mumbai
02.2015 - 03.2017
- Preparing & handling of Company’s financials.
- Handling a team, team management & work allocation to teammembers.
- Accounts processing up to finalization.
- Bank Reconciliation Statement
Corporation Tax computation preparation. - Preparing & maintaining MIS
Office Manager
Asian Paints Limited (Payroll of Surya Enterprises)
Mumbai
05.2013 - 01.2015
- Preparing financials as required by Asian Paints (Restricted to Sole Selling Agent)
- Handling a team, team management & work allocation to team members.
- Preparing of Bank Reconciliation Statement
- Preparing & Maintaining MIS, productivity calculation, productive & non-productive MIS.
- Service Tax & VAT Tax preparation, computation for filing returns online.
- Various Painting Contractors Payments together with Reverse charge Machanism
- Various Painting Suppliers payments together with VAT
- Preparing VAT details for MVAT Tax returns
- Chasing & recovering Income Tax Refunds for various clients
Accountant
G Ram & Associates ( CA firm)
Mumbai
02.2010 - 12.2012
- Preparing and handling 3 Limited Companies' and various Individuals' financials.
- Handling accounts processing up to finalization.
- Computing and filing of returns for various clients of Service Tax and VAT. TDS payments and filing TDS returns online.
- Statutory Branch Bank Audit for 2 years of Bank of Hyderabad.
Accountant
Gonsalves & Associates ( CA firm)
Mumbai
10.2007 - 01.2010
- Statutory Audit, Yearly, Half-yearly & Quarterly review
- Preparing bank reconciliation statement.
- Service Tax audit
- Ledger Scrutiny
- Preparing of financial statement.
- Income Tax Computation, Filling the ITR Form & Uploading the IT Return.
Audit Executive
Shah & Taparia (CA Firm)
Mumbai
06.2006 - 09.2007
- Statutory Audit, Yearly, Half-yearly & Quarterly review
- Preparing stock reconciliation statement.
- Ledger Scrutiny
- Vouching
Education
Master of Commerce - Accounts
University of Mumbai
Mumbai, Maharashtra, India04.2008
Bachelor of Commerce - Commerce
University of Mumbai
Mumbai, Maharashtra, India04.2006
Skills
- Industry Knowledge
- Reinsurance Expertise
- Audit Experience
- SAP
- SAP B1
- Oracle Fusion
- Tally ERP
- Proficient in Microsoft Office
Affiliations
- Won the Asian Paints monthly competition twice for the Best Employee Award.
- ICICI Lombard awarded two quarters' worth of highest KPI achievers.
Certification
Associate, Insurance Institute of India, 2021
Personal Information
- Passport Number: W3192920, Expires 08/04/32
- Father's Name: Mr. Ramchandra Shankar Kolte
- Date of Birth: 05/07/1984
- Gender: Male
- Nationality: Indian
- Marital Status: Married
Languages
- English
- Hindi
- Marathi
Awards
- Won the Asian Paints monthly competition twice for the Best Employee Award.
- ICICI Lombard awarded two quarters' worth of highest KPI achievers.
Disclaimer
I, Pradeep Kolte, hereby declare that the information contained herein is true and correct to the best of my knowledge and belief.
Timeline
Consultant - Reinsurance
Sky Moon Consultant
12.2022 - Current
Deputy Manager - Reinsurance
Magma HDI General Insurance Company Limited
09.2021 - 12.2022
Accounts Manager - Reinsurance
ICICI Lombard General Insurance Company Limited
03.2017 - 09.2021
Assistant Accounts Manager
Crescent Entertainment & Tourism Limited
02.2015 - 03.2017
Office Manager
Asian Paints Limited (Payroll of Surya Enterprises)
05.2013 - 01.2015
Accountant
G Ram & Associates ( CA firm)
02.2010 - 12.2012
Accountant
Gonsalves & Associates ( CA firm)
10.2007 - 01.2010
Audit Executive
Shah & Taparia (CA Firm)
06.2006 - 09.2007
Master of Commerce - Accounts
University of Mumbai
Bachelor of Commerce - Commerce
University of Mumbai
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