Role description
A Position Overview
Position Title | Finance Trainee - Finance and Accounts |
Department | Finance & Accounts |
Level/ Band | 202 / Executive |
B Organizational Relationships:
Reports To | Project SPOC |
Supervises | NA |
C Job Dimensions:
Geographic Area Covered | Corporate |
Stakeholders Internal | All Users |
External | Parent & Group Companies, Auditors, Consultants |
D Job description:
Reporting / Treasury / Ind AS / IFRS / Products - Ensure detail analysis (including preparation of technical memos) and understanding of IFRS / IND AS, specifically on Ind AS / IFRS for Financial Instruments, Insurance Contracts, Leases.
- Ability to understand data flows across systems from source to target and data architecture under Ind AS / IFRS. Ability to conduct process walk-throughs of current processes and highlight / recommend process gaps, flaws and process changes.
- Experience of handling proforma reporting requirements of IRDA on Ind AS / IFRS.
Finance domain knowledge - Preparation of Statutory Financial statements as per IRDAI format
- Preparation of monthly/quarterly financials for IRDAI reporting
- Experience of closing books of accounts on a monthly, quarterly and annual basis, post passing all necessary closing entries.
- Reviewing provisions for expenses, expense trending and explanation of variances.
- Scrutiny of ledger accounts, preparation of necessary account schedules and identification of exceptional items, if any.
- Processing transactions with related parties and other group companies and reporting in accordance with accounting standards and IRDA requirements.
Project-related skills - Co-ordinating with auditors during audits and limited reviews.
- Ability to prepare summary presentations for facilitating discussions at various levels viz., Mancom, Steer Co, parent companies, industry forums, etc.
- Ability to work with cross-functional teams especially actuarial and technology.
- Having the foresight to draw down activities in a large-scale Ind AS / IFRS project, list down pitfalls / bottlenecks, be solution oriented and drive the results for the workstream.
Working with various systems in finance domain - Working / advanced knowledge of MS Office suite while SharePoint, Visio is add-on.
- Basic / working knowledge of GL systems (SAP FICO, FAM, etc.) - knowledge of FPSL / SLAM sub-ledger system is add-on.
- Ability to act as a business analyst viz., read the Ind AS / IFRS and convert it into business requirement, use the knowledge of the affected system and writing a Business Requirement Document (BRD)
Investment Team - Preparation of Cash flow statement along with analytics for investment decision
- Doing Daily Reconciliation of Subscription & Redemption, Units, Holding in SAP system
- Corporate action processing in SAP Investment Management system
- Assisting with Investment Audit
- Preparation of Fund factsheet, Fund performance
Products / Pricing / BMO / H&W Team - Assist in strategy for product formulation
- Prepare F&U file for IRDAI
- Analyse the products for profitability
- Closely work with distribution team to drive business strategy
- Closely work with Health & wellness team in designing innovative health products and drive strategic offerings w.r.t. customer wellbeing.
Required experience - Consulting / Project kind of role - demonstrating agility, drive for results and ownership.
- IFRS/IND AS gap analysis / implementation experience.
|
E Skills Required
Technical | - Knowledge of key Insurance Regulations / Products
- Insurance accounting knowledge and IFRS / IND AS
|
Behavioral |
|
|
| Essential | Desired |
Interpersonal skills | |
|
Communication skills | |
|
Creative thinking skills | |
|
Supervising/Leadership skills | |
|
Teamwork Skills | |
|
Influencing skills | |
|
Relationship Building skills | |
|
Decision making skills | |
|
F Incumbent Characteristics
| Essential | Desired |
Qualification | CA | |
Experience | AM 0 - 2 years PQE |
|
