SHUBHANGI PRIYA
Navi Mumbai
Summary
- Dynamic Banking Center Operations Manager at AXIS BANK with expertise in insurance policy management and regulatory compliance. Proven track record in enhancing premium collection processes and streamlining claims oversight. Adept at financial reporting and fostering strong customer relationships, driving efficiency and accuracy in operations. Passionate about delivering exceptional results in a fast-paced environment.
Overview
2
2
years of professional experience
Work History
Central Operations Manager
AXIS BANK
Navi Mumbai
03.2023 - Current
- Oversee the end-to-end process of life insurance policies linked to remittance services, ensuring smooth policy issuance, premium collection, refunds, and claims processing.
- Manage and streamline policy onboarding, ensuring seamless integration with remittance platforms and the banking system.
- Monitor premium payment and collections from remittance-linked insurance clients, ensuring timely processing and compliance.
- Coordinate with the underwriting, finance, and compliance teams to ensure accurate risk assessment and regulatory adherence.
- Supervise the claim journey from intimation to payout, ensuring transparency, accuracy, and prompt settlement.
- Maintain detailed records and reports on policy performance, remittance inflows, and claim data for analysis and decision-making.
- Ensure proper reconciliation of insurance premium collection, refunds, and claims on a daily basis.
- Ensure compliance with insurance regulations and remittance policies.
- Facilitated seamless communication and collaboration between the central office, branches, and financial institutions regarding guarantee claims, settlement processes, and troubleshooting.
- Managed the timely and accurate processing of Annual Service Fees (ASF) and Guarantee Fees (GF) as per the guidelines set by CGTMSE for Micro and Small Enterprises (MSEs) availing of loan guarantees. Ensured that payments were made promptly to avoid penalties, or lapses in coverage.
- Conducted regular reconciliation of the ASF and GF payments to ensure that all fees were accurately billed and collected from financial institutions. Coordinated with banks and other stakeholders to resolve discrepancies and ensure alignment with CGTMSE records.
- Prepared detailed financial reports regarding ASF and GF payments, submitting these reports to senior management and regulatory authorities for review and audit purposes. Ensured all payments were made in full compliance with CGTMSE guidelines and timelines.
- Acted as the point of contact for any queries related to ASF and GF payments, addressing inquiries from banks, financial institutions, and internal teams. Ensured timely communication and resolved issues related to payments, billing errors, or discrepancies.
- Collaborated with IT teams to integrate CGTMSE payment systems with internal banking systems, improving efficiency and reducing manual work. Enhanced data accuracy by automating the fee payment and tracking process.
- Led the execution and management of National Automated Clearing House (NACH) transactions for agricultural loan disbursements, subsidies, and farmer-related payments. Ensured the smooth and accurate processing of agricultural payments under various government schemes.
- Managed the automated payment processing system for Agri NACH transactions, ensuring timely and accurate crediting of payments to farmers' bank accounts. Reconciled NACH debits and credits to ensure that all payments were processed correctly and without errors.
Education
PGDBF - Banking And Finance
MANIPAL ACADEMY OF BFSI
BANGALORE09-2022
Bachelor of Commerce - Accounting And Finance
VEER KUNWAR SINGH UNIVERSITY
AARA, BIHAR12-2018
High School Diploma -
HOLY MISSION
PATNA,BIHAR07-2015
Skills
- Insurance policy management
- Premium collection processes
- Claims processing oversight
- Regulatory compliance
- Financial reporting
- Customer relationship management
Accomplishments
- Reduce the pend-ency level for manual handover of remittance form and made a utility web link to direct upload the Insurance application forms on real time so within T+3 days TAT forms will be issued for the borrowers and borrowers start utilizing the premium on real time.
- Created bulk payment systems in CGTMSE ASF and GF instead of one by one manual payment.
Languages
Hindi
First Language
English
Proficient (C2)
C2
Punjabi
Beginner
A1
Declaration
I Shubhangi Priya, dohereby declare that he above furnished information is true to the best of my knowledge and belief.
Timeline
Central Operations Manager
AXIS BANK
03.2023 - Current
PGDBF - Banking And Finance
MANIPAL ACADEMY OF BFSI
Bachelor of Commerce - Accounting And Finance
VEER KUNWAR SINGH UNIVERSITY
High School Diploma -
HOLY MISSION
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