Chartered Accountant - Insurance

The Role : Preparation and finalization of Financial Statements in line with International Financial Reporting Standard (IFRS) applicable for Insurance Companies

Responsibilities :

Creation of Road map of activities for implementation under IFRS:

- Understand the impact of IFRS and change on your Business, Data, system and processes.

- Identify the impacts of each options on the business and model with the financial impacts.

- Carry out financial impact analysis on financials and reporting required as required under IRDA and other regulatory guidelines.

Identify and implement the System changes and creation of business decision as per standard:

- Work along with IT, Products and Actuarial team to develop system design, architecture and provide necessary inputs from finance for creation of Business requirement document (BRD).

- Creation of accounting decision paper out of available options as per the AS.

- Creation of Request for proposal and work along with IT and Actuarial team for finalisation of IT vendor and Implementation partner.

- Implement significant technical changes, quality analysis and validations.

Transition data preparation and pilot testing:

- Carry out dry run and testing on the new system and verify the outcome of the same.

- Prepare comparative financial statement and reinstate the balances as per the standard.

- Provisioning operational reports per new financial statements & operationalize the applications

- Preparation of the financial statements from the new applications and carry out the post implementation testing.

Facilitate all the Statutory and regulatory reporting and reconciliation with existing Policy amin database and Financial systems:

- Reconciliation of the data reported in Financial statements with Policy admin database, etc.

- Submission of all the Statutory and Regulatory Reports on timely basis

- Analytical review of Revenue accounts and month on month variance account analysis

Supporting reporting in managing Statutory & Internal Audit, IFC, IRDA and resolution of Audit queries:

- Providing required data to the auditors for conducting audit.

- Closure of all audit requirements and Resolution of audit queries.

Required qualifications and experience :

- Qualification: Qualified Chartered Accountant with 6/8 years of experience in Life Insurance industry with experience in Revenue / Technical accounting

- Excellent knowledge on IGAAP and International AS.

- Handled the role of preparation of financials of the Company

Knowledge and skills desired :

- Knowledge of Life Insurance process i.e. Premium, commission, claim cycle.

- Reasonable command on Power point - Must know built-up & formatting of PPTs

- Good project management skills and have good decision-making skills