Sumit Sengupta Email and Phone Number
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A Finance and Audit professional with extensive cross functional experience across all Insurance verticles - Health, Life & General including Retail industry involving both start-ups and growing organizations with specialties in• Setting up and management of Finance Operation function with expertise in - Premium Collections through implementing multiple payment methodologies, setting-up convenient banking network, Revenue accounting/recognition, Cash Management & forecasting, Relationship Management, Bank charges reduction - Statutory compliance, contract negotiations, Audits/Diligence, Risk Management, MIS & Reporting - Accounts Payable–Intermediary payout management, Claims payout, Policy holder liability management• Internal Audit - Managing & executing audit plans, conducting risk based audit, restructure and improve the processes associated with internal audit• Development of Financial systems through requirement gathering, writing BRD/FS and User Acceptance Testing, Insurance product life cycle testing, Defect Management• Currently heading Business Finance function• Leading team of professionals for ensuring day to day operational finance activities. Monitoring & suggesting course corrections wherever necessary.
Hdfc Ergo General Insurance
View- Website:
- hdfcergo.com
- Employees:
- 4602
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Vice President FinanceHdfc Ergo General Insurance Apr 2023 - PresentMumbai, Maharashtra, India• Leading the banking division including treasury, Claims and Commission Payouts in Finance Control Function • Project Management majorly around Digital enhancements including UAT/BRD • Policyholder Liability management • Cost optimization through negotiation and process automation • Audit and Risk assurances -
Deputy Vice President FinanceHdfc Ergo General Insurance Jun 2021 - Mar 2023Mumbai, Maharashtra, India -
Associate Vice President FinanceBajaj Allianz Life Jul 2020 - May 2021Pune, Maharashtra, India• Led Finance control and transformation team • Administered team of professionals for ensuring smooth functioning of operations control processes • Project lead for Policy Admin system migration from Finance • Supervised audit, risk and statutory compliance and IRDAI reporting & compliances • Led projects related to cost benefit, process automation and control • Managed policyholder liability, unclaimed amount of policyholders • Ensured smooth month end closing including revenue recognition • Built & strengthened relationship with cross functions -
General Manager Business FinanceMax Bupa Health Insurance Oct 2018 - Jul 2020New Delhi Area, India• Led Business Finance function having team of professionals for ensuring smooth functioning of operations finance processes • Supervised audit, risk and statutory compliance and IRDA reporting & compliances • Established robust systems, processes and controls • Ensured timely and accurate regulatory reporting • Assured timely commission & incentive pay-outs • Managed policyholder liability, unclaimed amount of policyholders • Overseen Reinsurance accounting and settlement. Actively participated in finalizing annual Reinsurance Program • Ensured smooth month end closing including revenue recognition • Build & strengthened relationship with the bank, managing cash/ fund and forecasting • Led IRDAI audit independently from Finance with NIL audit observation • Managed finance process integration with major Banca Partners -
Chief Manager Business FinanceMax Bupa Health Insurance Jul 2016 - Sep 2018New Delhi Area, India -
Senior Manager & Head Finance OperationsReligare Health Insurance Company Limited Aug 2015 - Jul 2016Noida Area, India• Head F&A-Finance Operations function; reporting directly to Director Services & Chief Financial Officer • Led team of professionals for ensuring day to day operational finance activities. Monitoring & suggesting course corrections wherever necessary • Overseen smooth functioning of financial processes such as - Premium Collections through implementing multiple payment methodologies, setting-up convenient banking network, Revenue accounting/recognition, Cash Management & forecasting, Relationship Management, Bank charges reduction - Statutory compliance, contract negotiations, Audits/Diligence, Risk Management, MIS & Reporting - Accounts Payable – Intermediary payout management, Claims and refund payout, Policy holder liability management -
Senior Manager Internal AuditReligare Health Insurance Company Limited Jul 2014 - Jul 2015Noida Area, India• Assisted Head-Internal Audit in drafting annual audit plan, executing the plan approved by the Audit Committee and preparing presentations to the Audit Committee• Conducted risk based audits to assess adequacy and effectiveness of internal controls to mitigate / manage various risks to which business is exposed• Assured that the audit report highlights the control gaps, root cause and appropriate practical recommendations are made to address the issues• Supported management in the risk assessment exercise involving identification of significant business, operational, Regulatory and other key risks in each auditable entity -
Manager Finance OperationsReligare Health Insurance Company Limited Jun 2012 - Jun 2014Noida Area, India• Worked closely with management team for setting up business module for day to day Finance operations processes • Implemented various financial management processes and provided cross functional support to build adequate financial controls • Identified and implemented business process improvements from finance perspective as part of continuous productivity and efficiency improvement objective • Responsible for performance improvement opportunities including cost management • Led team of professionals responsible for managing Operation Finance Activities -
Manager-Operations FinanceMax New York Life Insurance Co. Ltd Apr 2006 - Jun 2012Gurgaon, India• Banking & Collection Management - Banking relationships, ensuring smooth cash management outcomes, setting-up banking network & convenient banking, Daily day end reconciliation of monies in hand• Setting & implementing of alternate payment methodologies – Phone pay, SMS pay, ATM pay, EBPP and Auto pay with a motive to save cost through negotiation with various vendors, Ensuring smooth functioning of Internet Payment Gateway• External & Internal Audit for Operations Finance, AML reporting• Relationship Management – Partnership Distribution Channels• Month End Coordinator / MIS Preparation / Suspense Balance Management• Business Support Analyst-Finance Systems & Testing – Creation/modification of business case document along with financial specifications (FS), prepare/review test strategy & test cases, User Acceptance & Sanity Testing, , Insurance product life cycle testing including accounting setups, Defect Management, Release management -
Team Member-CommercialPantaloon Retail India Ltd Jun 2005 - Apr 2006New Delhi Area, India• Cash Management - Responsible for setup of Cash Room & Commercial hub by giving training in cash collection process & SAP during opening of new store in north India• Maintained reports of Accounts Receivable of North Zone, reconciling, scrutinizing & Reporting to North Head Commercial• Led 30 Head Cashiers & over 400 cashiers of stores of North India. Training them for inflow & Outflow of Cash and the Cash Management Report
Sumit Sengupta Skills
Sumit Sengupta Education Details
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Accounts,Statistics
Frequently Asked Questions about Sumit Sengupta
What company does Sumit Sengupta work for?
Sumit Sengupta works for Hdfc Ergo General Insurance
What is Sumit Sengupta's role at the current company?
Sumit Sengupta's current role is Vice President Finance at HDFC ERGO General Insurance | Finance Operations | Fintech | Change Mgmt | Risk | Banking.
What is Sumit Sengupta's email address?
Sumit Sengupta's email address is su****@****ail.com
What schools did Sumit Sengupta attend?
Sumit Sengupta attended Symbiosis Institute Of Management Studies, Delhi University.
What skills is Sumit Sengupta known for?
Sumit Sengupta has skills like Finance, Mis, Insurance, Banking, Team Management, Account Reconciliation, Relationship Management, Vendor Management, Accounting, Internal Audit, Risk Management, Auditing.
Who are Sumit Sengupta's colleagues?
Sumit Sengupta's colleagues are Sivakumar Nair, Abhishek Kumar, Ca Bhupesh Gangwani, Jubeda Bano, Richa Sharma, Odelia D'costa, Madhuri Kumari.
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