PNB MetLife - Chief Manager- International Financial Reporting Standard - CA

Context & Role:

Preparation and finalization of Financial Statements in line with International Financial Reporting Standard (IFRS) applicable for Insurance Companies (as issued by ICAI and International Accounting Standard Board (IASB)

Key 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.

- Assisting in carrying out the 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).

- Assisting in the creation of accounting decision paper out of available options as per the AS.

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

- Assist the team to 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 4+ years of experience

- Preferred Experience: 3+ years 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

- Good at technical knowledge in SQL / Java / MS access language

- Communication skills and able to convince the counterpart within Actuarial, IT and Finance team

- Excellent Analytical skills/ Logical Skills with eye for details

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