Co-Founder at HiringHawk.com
Views:301 Applications:62 Rec. Actions:Recruiter Actions:9
Senior Manager/Chief Manager - IFRS Implementation Project - Life Insurance - CA (6-8 yrs)
The Role :
Preparation and finalization of Financial Statements in line with International Financial Reporting Standard (IFRS) applicable for Insurance Companies
- 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