IDBI Federal Life Insurance - AVP - Financial Accounting/Reporting & Tax - CA

Position Title: AVP - Financial Accounting, Reporting and Tax

Department: Finance

Sub-Department: Financial Accounting

Position Reports to-CFO.

He / She will be responsible for leading the financial accounting team to ensure proper and timely accounting of all transactions to generate timely and accurate financial reports, driving the monthly, quarterly and year end account closing process, leading the various audit processes and ensuring compliance with the relevant statutory/ other legislative requirements including Tax legislations. He / She jobholder will have the responsibility for reviewing financial transactions, accounting, improve financial system and processes, responsible for all account reconciliations with various sub systems like Investment systems and Policy Admin systems.

Key Accountabilities : 

- Overall responsibility for the GLs financial system of the Company and responsible for all aspects of finance, accounts and statutory matters, for both Indian GAAP and INDAS

- Provide the required information / data from financial systems to the various stakeholders

- Ensure the maintenance of company's general ledgers and all schedules / reconciliations available as required

- Oversee maintenance of Oracle Financials and interfaces between Oracle & other applications and review reconciliation as required. Resolve accounting issues and responsible for preparation of monthly, quarterly and annual reports, review the reports prepared

- Ensure activities relating to the function comply with relevant Acts, legal demands and ethical standards - New Business sign off, Public Disclosures, BAP Returns and other statutory & regulatory compliances

- Ensure smooth conduct of audit of statutory and internal accounts and liaison with auditors to achieve timely completion of audit. Also ensure that processes are made sufficiently robust to ensure audit points are not repeated

- Ensure appointment of all auditors including statutory, tax and concurrent auditors

- Take ownership and accountability of all deliverables related to Accounting and Tax for audit committee, board meetings etc

Tax planning and taxation matters

- Responsible for tax planning and compliance of the Company. Also supervise the direct tax and indirect tax compliances and other laws including filing of returns, response to queries from tax authorities etc

- Supervise advance tax computation, discussion on tax position and effecting changes in tax views/position. Review of return and tax submissions prepared by consultant relating to returns, assessments, appeals, litigations etc.

- Review of implementation of statutory changes in the systems and processes

- Responsible for regulatory compliance in respect of FATCA, CRS, Tax audit, Transfer pricing audit and GST audit

Qualification & Experience

- Chartered Accountant

Minimum: 6-7 years of similar work experience in a life insurance company.

Maximum: 12-15 years of post qualification experience in corporate finance and tax