Senior Manager - Financial/Expense & IRDA Reporting - Life Insurance

Sr Manager-Accounts(Financial and Expense & IRDA reporting), Mumbai for Life Insurance

The Accounts function is responsible for maintaining the Company's financial accounts and providing the financial information required by various internal and external stakeholders. It is responsible for preparation and publishing of monthly, quarterly and annual accounts of the Company in a manner prescribed by the IRDA and other applicable laws. The Financial Accounting team publishes the Revenue Account, Profit and Loss Account and Balance Sheet of the Company on a monthly basis, submit the Accounts to the Board of Directors on a quarterly basis and provides analysis of financial performance to management on a timely basis for facilitating decision making.

1. Handling of Quarterly/Annual IRDAI reporting requirements (Public disclosures, Newspaper disclosures, BAP financial returns, New business report, 31B(2) report, Schedule VA certificates etc)

2. Handling of related party disclosure requirements as per AS 18 and Companies act

3. Timely preparation and review of quarterly/annual notes to accounts forming part of financial statements

4. Handling of Subsidiary Companies financials reporting and consolidation requirements of Holding company

5. Managing statutory audit of Notes to accounts, related party disclosures, subsidiary company financials & holding company consolidation requirements and ensuring no major audit observations

6. Produce profitability analysis reports and competition analysis demystifying the elements of profit/loss generation, thereby enabling management to take early business decisions on profit management.

7. Monthly Opex reporting along with explanations for variances against budget and increase/decrease against previous year. Identify and timely reporting of expenses variances against budget to the management for corrective action.

8. Identification of wasteful spends and opportunity to save costs basis detailed analysis and identification of possible opportunities and implementation as per plan

Candidate Profile :

- CA with 5-7 years of post qualification experience in the areas such as:

a. Financial and Expense reporting

b. IRDAI Reporting

c. Related Parties Disclosures

d. Handling of statutory and internal audit

e. Analysing profitability and competition financials