Chief Manager-IFRS Implementation & Reporting

Kotak Life Insurance; Mumbai; On-site; INR 2,500,000 - 3,600,000; Full time

Job summary

Kotak Life Insurance in Goregaon (East), Mumbai, seeks a senior professional for IFRS implementation and reporting. You will lead policyholder accounting, IFRS 17 rollout, and ensure accurate monthly and quarterly closes while coordinating with actuarial, IT, operations and consultants.

The role requires 5+ years post-qualification life insurance accounting experience and preference for IFRS implementation exposure, including familiarity with Life Asia and related systems.

Qualifications

• Minimum 5 years post-qualification experience in life insurance accounting.
• Candidates with IFRS implementation experience are preferred.
• Experience with Life Asia, Group Asia, KRIS and Renova is advantageous.

Responsibilities

• Support IFRS implementation and IFRS 17 accounting policy formalisation and rollout.
• Handle policyholder accounting and related controls.
• Manage monthly/quarterly closing under IFRS including Limited Review.
• Coordinate with Actuarial, IT, Operations and consultants.
• Conduct UAT for new systems and changes in the existing system.
• Develop and implement new controls to ensure ongoing compliance.
• Assist with audit support, governance and regulatory/group reporting.

Skills

IFRS 17 implementation

Policyholder accounting

Actuarial-finance reconciliation

Audit and regulatory support

Job description

POSITION:- IFRS implementation & Reporting

DESIGNATION- Chief Manager\ AVP IFRS implementation & Reporting

DEPARTMENT:- IFRS - Finance

REPORTING POSITION:- Head of IFRS implementation

WORK LOCATION:- Goregaon (East), Mumbai. Corporate office

OBJECTIVE OF THE ROLE

Support end to end implementation of Ind AS in line with IRDAI timelines and guidelines, ensuring accurate transition from existing accounting practices (IGAAP) to Ind AS, with specific focus on insurance contracts (Ind AS 117)

Key Responsibilities

• IFRS implementation support including IFRS 17 accounting policy formulation and operationalisation
• Policyholder accounting
• Monthly / quarterly financial closing under IFRS including Limited Review
• Coordination with Actuarial, IT, Operations and consultants
• Conduct UAT for new systems and changes made in existing system
• Develop and implement new controls and processes to ensure ongoing compliance
• Audit support, governance and regulatory / group reporting

Education:

Work experience in years: Minimum 5 years postqualification experience (Life Insurance industry only) in technical accounting. Candidates working in IFRS implementation preferred. Experience with Life Asia, Group Asia, KRIS and Renova preferred.

Skills / experience required: IFRS 17 implementation/reporting, policyholder accounting, actuarialfinance reconciliation, audit and regulatory support