Finance & Accounts Role – Insurance Domain

Search Synergy; Mumbai; On-site; INR 1,000,000 - 1,500,000; Full time

Job summary

A financial consulting firm in Mumbai is seeking a professional with expertise in Ind AS/IFRS to conduct detailed analyses and manage finance processes. The role involves working with cross-functional teams and auditors, ensuring compliance with accounting standards, and improving financial reporting processes. Ideal candidates should have consulting experience and knowledge in financial systems.

Qualifications

• Experience in handling financial instruments and processes under Ind AS / IFRS.
• Ability to conduct process walk-throughs and recommend changes.
• Experience in closing books of accounts monthly, quarterly, and annually.

Responsibilities

• Ensure detailed analysis of Ind AS/IFRS.
• Conduct process walk-throughs and highlight gaps.
• Coordinate with auditors during audits.

Skills

Ind AS / IFRS understanding

Data architecture insight

Finance domain knowledge

Cross-functional teamwork

Analytical skills

Tools

MS Office Suite

SAP FICO

Job description

Overview

Ind AS / IFRS

– Ensure detail analysis (including preparation of technical memos) and understanding of IFRS / IND AS, specifically on Ind AS / IFRS for Financial Instruments, Insurance Contracts, Leases.

Responsibilities

• – Ability to understand data flows across systems from source to target and data architecture under Ind AS / IFRS. Ability to conduct process walk-throughs of current processes and highlight / recommend process gaps, flaws and process changes.
• – Experience of handling proforma reporting requirements of IRDA on Ind AS / IFRS.
• – Finance domain knowledge
• – Experience of closing books of accounts on a monthly, quarterly and annual basis, post passing all necessary closing entries.
• – Reviewing provisions for expenses, expense trending and explanation of variances.
• – Scrutiny of ledger accounts, preparation of necessary account schedules and identification of exceptional items, if any.
• – Processing transactions with related parties and other group companies and reporting in accordance with accounting standards and IRDA requirements.
• – Co-ordinating with auditors during audits and limited reviews.
• – Ability to prepare summary presentations for facilitating discussions at various levels viz., Mancom, Steer Co, parent companies, industry forums, etc.
• – Ability to work with cross-functional teams especially actuarial and technology.
• – Having the foresight to draw down activities in a large-scale Ind AS / IFRS project, list down pitfalls / bottlenecks, be solution oriented and drive the results for the workstream.
• – Working with various systems in finance domain
• – Working / advanced knowledge of MS Office suite while SharePoint, Visio is add-on.
• – Basic / working knowledge of GL systems (SAP FICO, FAM, etc.) – knowledge of FPSL / SLAM sub-ledger system is add-on.
• – Ability to act as a business analyst viz., read the Ind AS / IFRS and convert it into business requirement, use the knowledge of the affected system and writing a Business Requirement Document (BRD)

Required experience

• – Consulting / Project kind of role – demonstrating agility, drive for results and ownership.
• – IFRS/IND AS gap analysis / implementation experience.