Product Manager - Core Systems (Payments, Accounting, Banking & Receipting, Reconciliation)

Job Title: Product Manager – Core Systems (Payments, Accounting, Banking & Receipting, 

Reconciliation) 

Department: Product Management 

Industry: General Insurance / InsurTech 

Experience: 5–8 years preferred (minimum 3–5 years building BFSI core/back-office products) 

About the Role 

We’re hiring a hands-on, execution-focused Product Manager to build the finance rails of our 

insurer—the Payments, Accounting, Banking & Receipting, and Reconciliation modules in the 

core system. You’ll partner closely with Finance, Operations, Reinsurance, and Engineering to 

design robust, compliant, and scalable processes that keep money moving, books accurate, 

and audits effortless. 

You will own discovery → design → delivery across these modules: from payment orchestration 

and refund flows, to automated 2-way/3-way recon with clear exception handling and controls. If 

you love untangling real-world finance workflows, codifying them into clean systems, and 

shipping outcomes that Finance and Banking Operation teams trust, this role is for you. 

Key Responsibilities 

Domain Discovery & Problem Definition 

● Shadow Finance/OPS to map processes (premium collections, claims pay-outs, refunds, 

cancellations, chargebacks, co-insurance flows, 64VB checks). 

● Translate regulatory & accounting needs (Ind-AS/IFRS, GST/TDS) into product 

requirements and acceptance criteria. 

● Define chart of accounts in system along with ledger mapping to respective transactions. 

● Map out key user journeys for payments, banking, and reconciliation processes to 

identify friction points and opportunities for automation. 

Core Payments & Workflow Simplification 

● Own the design for Pay-ins (collections) and Pay-outs (disbursements) including 

integrations with PAs/PGs, aggregators, and banks. 

● Build seamless orchestration for UPI, Cards, Netbanking, NEFT/RTGS, IMPS, and 

e-NACH/e-mandates. 

● Ensure sub-ledger ↔ GL integrity (premium, claims, commissions, reinsurance, float 

wallets), trial balance, and period close. 

● Reimagine and simplify complex payment workflows such as receipting, refunds, 

reversals, and exception handling. 

● Create detailed wireframes, process maps, and prototypes using tools like Figma, Miro, 

V0 to communicate workflows effectively. 

Banking & Receipting 

● Productize omni-instrument collections: UPI, cards, netbanking, NEFT/RTGS, IMPS, 

NACH/e-mandates, cheque/DD, e-collect/virtual accounts. 

● Integrate with PGs/aggregators and bank APIs (files & real-time)—settlement files, UTR 

mapping, chargebacks, refunds, partials. 

● Build 64VB gating, payer identification, receipt numbering, e-receipts/invoices, 

auto-allocation to policies/invoices, unallocated & suspense handling. 

● Standardize refund/cancellation journeys with TAT/SLA tracking and audit compliance. 

Reconciliation (Bank/PG/Core – 2-Way & 3-Way) 

● Ship a rule-based recon engine: exact/fuzzy, 1:1 / 1:M / M:1, tolerance & windowing, 

reference/UTR/VPA mapping. 

● Design exception management: queues, reason codes, actions (allocate, split, merge, 

write-off), SLAs, escalation, and analytics. 

● Enable automated reconciliation dashboards with KPIs like match rate, breaks by 

reason, and TAT. 

Execution & Collaboration 

● Own PRDs, data models, APIs, and UAT packs; run sprints with Engineering. 

● Collaborate with developers on API design, payload structures, and integrations 

(REST/JSON, file-based, and webhook flows). 

● Coordinate with banks/PGs/ERP/recon vendors; drive SLAs, certification, and go-live 

readiness. 

● Measure releases via clearly defined success metrics; iterate rapidly. 

● Ensure financial modules integrate seamlessly with other systems (Policy Admin, 

Claims, Finance, CRM). 

● Communicate product vision, strategy, and roadmap effectively to all stakeholders. 

Key Metrics for Success 

● Recon completion; month/quarter close timelines. 

● Efficiency of the receipting and banking processes. 

● Accuracy and speed of financial and regulatory reporting. 

● Reduction in manual interventions and exception rate. 

You Should Have 

● Proven experience building BFSI core/back-office products (payments, accounting, 

recon, treasury)—preferably in Insurance/Fintech. 

● Strong grasp of payments (UPI, cards, settlements, chargebacks) and accounting 

concepts (COA, sub-ledger/GL, reconciliations). 

● Hands-on prototyping and workflow design skills 

● Comfort with APIs, webhooks, and file integrations; able to define API specs and 

payloads collaboratively with tech teams. 

● Familiarity with Indian compliance (Ind-AS/IFRS, GST/TDS, Taxation). 

● Collaboration skills across Finance, Engineering, and external partners (banks, PGs, 

ERPs, recon tools). 

● Bonus: experience with recon/accounting automation tools.