Manager- Insuarnce

KPMG Assurance and Consulting Services LLP; Mumbai; On-site; INR 1,500,000 - 2,500,000; Full time

Job summary

A leading financial services firm in Mumbai seeks an experienced professional to support IFRS 17 implementation in the Insurance industry. The role involves significant responsibilities such as drafting technical papers and designing accounting solutions. The ideal candidate will have a CA qualification with 5+ years in financial reporting and a strong understanding of IFRS standards. Opportunities to coach junior staff and build client relations are part of the role, fostering a dynamic team environment.

Qualifications

• Minimum of 5+ years of financial reporting experience in the Insurance industry.
• Practical experience on IFRS 17 implementation is an added advantage.
• Organized, flexible, and calm under pressure.

Responsibilities

• Support the implementation of IFRS/Ind AS in the BFSI sector with a focus on Insurance.
• Draft technical papers on key IFRS requirements.
• Perform gap analysis and recommend IFRS solutions.

Skills

Financial reporting

Knowledge of IFRS

Effective communication

Teamwork

Education

CA or equivalent

Tools

ETL tools

Visualization tools

Reporting tools

Job description

About the Role

This is an excellent opportunity for a candidate with experience in the Insurance industry to further ones career with a focus on IFRS 17 implementation. IFRS 17 is the new accounting standard for insurance contracts and for successful implementation the insurance companies shall address the key elements such as Functional processes, Supporting technology, Data & reporting, People, Governance and Controls.

Key Responsibilities

• Support the implementation of IFRS/ Ind AS in BFSI sector with focus on Insurance Industry
• Support in drafting technical papers on the key elements of the IFRS requirements including IFRS 17, IFRS 16 and IFRS 9 etc.
• Analyze current state of business requirements, perform gap analysis, make recommendations for IFRS 17, IFRS 16, IFRS 9 etc. solutions and design processes.
• Significant involvement in the design, planning and execution of the accounting & reporting solution system both from a functional and user perspective
• Modelling business requirements and use cases as a basis for testing the configuration and outputs of the system
• Support and investigate system test, integration test, performance test and UAT defects
• Redefine the accounting and reporting processes to align reporting timelines after the implementation
• Work effectively as a team member, coach junior staff and build good relationships with the client

The Right Fit

• CA and equivalent with minimum of 5+ years financial reporting experience in the Insurance industry.
• Knowledge on IFRS including IFRS 17, IFRS 16, IFRS 9 etc.
• Experience in end-to-end finance processes such as finance operations, financial close and reporting
• Practical experience on IFRS 17 implementation will be an added advantage
• Experience on any of the ETL tools, visualization tools and reporting tools will be an added advantage
• Enthusiasm to learn, transfer knowledge and ability to work in a team
• Effective communication skills
• Organized, flexible and calm under pressure