We have a very urgent position in one of BEST Life Insurance organizations across the following location :

LOCATION : Mumbai ( Thane )

POSITION : Head - Investment operations

REPORTING : Investment Operations ( Back Office )

Job Purpose :

Managing operations and implementing strategies towards enhancing market penetration, volumes and growth. Setting up of appropriate framework for managing investment operations function. The job responsibility would include ensuring timely and accurate cash management & settlements, Investment accounting, valuation, NAV calculation & reporting along with managing internal/concurrent, statutory audits, MIS reporting and functional projects.

To ensure timely and accurate preparation of periodic reports for review and effective decision making. Timely completion of audits (concurrent, statutory, internal & regulatory) and submissions thereof with regards to timely completion of periodic financial reporting. Implement system & process enhancements to support regulatory & business dynamism. Back-up support to other key investment operation areas like investment accounting & valuation.

Principal Accountabilities :

Accountability Supporting Actions :

Formulation & Finalization of Process & Procedure for Investment operation :

- Driving and sustaining policy development & review process relating to investment operation like standard operating procedure, valuation policy, data management policy, deal confirmation policy etc.

- Review of existing policies (valuation & accounting) & identify means of improving the same from time to time

- Review and recommend changes to ensure compliance to regulatory guidelines.

- Ensure hands on the various regulatory changes and its impact on the complete function and the organization

- Participate in industry forums to support process & regulatory enhancements.

- Timely & accurate Investment accounting and portfolio valuations for dissemination of Fund NAVs

- Supervise timely accounting of trades in coordination with the Front-office team & external sources.

- Supervise accurate accounting and settlement of trades and income accruals thereof.

- Monitor proper tracking of corporate actions for accounting and settlement of the same.

- Monitor daily accurate valuations of portfolio across the asset types.

- Monitor timely & accurate daily NAV dissemination to internal & external clients.

Succession planning and strategy for technology and system :

- With the growing complexities of business, stringent regulatory norms and multi-faceted & multi-layered operational challenges effectiveness is mounting on building robust technology framework & investment operation system.

- Ensuring compliance to all regulatory frameworks, changes and other norms of investment management.

- Interpret, evaluate process and system changes on account of regulatory & business dynamics

Adoption to IFRS Adoption of IFRS to align our investment books and trade books as per IFRS requirement

This going to major change as well as radical shift from conventional approach of Investment accounting and financial reporting

Ensuring timely reporting of regulatory, financial and management reporting :

- Supervise periodical reporting of regulatory, financial and management reporting on monthly/quarterly/annual basis.

- Supervise monthly ALM closure & taking informed management decisions on ALM management.

- Coordinate with other verticals for ensuring timely and accurate preparation of various MIS reports.

- Guide team for standardizing of MIS reports.

- Work together to continuously tap and utilize leading edge technology and processes to increase efficiency in financial reporting.

Stakeholder Management - Internal & External :

- Build effective relationships with vendors like CRISIL, ICRA, Custodian, Settlement agencies, technology provider, etc. to enhance the company's business and statutory reputation within the regulatory framework.

- Liaise with the statutory and group auditors for any major audit observations, and to resolve the areas requiring action

- Identify, along with the CFO the areas to go through internal audit, and review the progress and follow up on the action items identified by the internal audit

Audits & Control Function :

- Set-up appropriate internal/concurrent audit framework for investment operations for better review & management control on IO process.

- Manage the auditing process for investment space.

- Supervise timely provision of all audit requirements to concurrent, statutory & regulatory auditors.

- Coordinate with other verticals for project related activities.

- Building effective preventive controls

- Ensure implementation of audit recommendations from internal and external auditors.

Team Management - Set and monitor team KRA's :

- Facilitate identification of training and development programmes for enrichment of skills & knowledge for the team

- Monitor team performance at regular intervals

- Ensure adequate back-ups for all routine activities

REQUIREMENTS :

Qualification - CA with good financial understanding.

Experience : 7-8 years in Investment Operations role. Should have handled MIS & Reporting, NAV, Portfolio valuation, Treasury, etc.

Industry : Insurance, AMC and Top 5 Banks

Age : 32 years max

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