Team Leader- Finance

Canara HSBC Life Insurance Company; Gurugram District; On-site; INR 1,200,000 - 2,000,000; Full time

Job summary

Canara HSBC Life Insurance Company seeks a Team Leader Finance Reporting to own end-to-end financial and regulatory reporting for life insurance books. You will coordinate with multiple stakeholders to ensure accurate financials, timely closings, and compliance with statutory requirements.

The role requires strong GL reconciliations, OPEX controls, and experience with SAP/Oracle ERP. Proficiency in Excel VBA and Power BI will support automation and process improvements.

Qualifications

• Experience in finance reporting, insurance accounting, and regulatory reporting.
• Strong knowledge of GL reconciliation and financial controls.
• Familiarity with IRDAI/SEBI/IFSC regulations is preferred.
• Proficiency in ERP systems and MS Excel is essential.

Responsibilities

• Lead end-to-end financial and regulatory reporting for life insurance books.
• Ensure timely closure of books, OPEX booking, and FAR reconciliation.
• Prepare MIS, variance analysis, and monthly Life Council data.
• Coordinate with regulators, auditors, and internal stakeholders.
• Support audit requirements and implement regulatory recommendations.
• Drive automation using Excel VBA and Power BI.

Skills

Insurance accounting

GL closure

Regulatory reporting

ERP SAP/Oracle

Advanced Excel

Excel VBA

Power BI

Audit support

Stakeholder management

Education

Bachelor's degree in Commerce/Finance

CA / CMA / MBA Finance or equivalent

Tools

SAP

Oracle

Job description

The Team Leader Finance Reporting will be responsible for end-to-end financial and regulatory reporting related to the financial books of the life insurance business. The role includes timely closure of books, OPEX booking, General Ledger (GL) reconciliation, regulatory reporting, financial control, and management reporting. The position requires close coordination with multiple stakeholders to ensure accurate financial reporting and compliance with statutory and regulatory requirements.

Key Responsibilities

Financial Reporting & Closing

• Prepare OPEX comparison against Plan and Previous Year and review all expense working files.
• Perform month-end closing activities including provisions analysis, salary balance confirmation, prepaid expenses, and advance schedules.
• Review monthly Fixed Asset Register (FAR) closure and reconciliation.
• Review fixed asset capitalization and monthly closing entries.
• Ensure timely completion of all monthly reporting deliverables.
• Prepare monthly MIS and variance analysis reports.
• Prepare Life Council data on a monthly basis.

Regulatory & Statutory Reporting

• Prepare quarterly website disclosures and other regulatory submissions.
• Prepare quarterly returns and reports for promoters.
• Prepare related party transaction data for promoters, PD, and SEBI.
• Prepare annual note-to-account schedules including lease disclosures, capital commitments, and outsourcing details.
• Provide data support for statutory audit, internal audit, and other audit requirements.
• Submit financial and operational data to management, departments, promoters, and regulators as required.
• Conduct peer comparison of public disclosures.

Financial Control & Compliance

• Ensure robust financial processes and internal controls for accurate recording of transactions.
• Perform detailed GL reconciliations and closure of open items with internal stakeholders.
• Ensure all validated activities are completed within defined timelines.
• Maintain compliance with IRDAI, SEBI, IFSC/GIFT City, SEZ, and other applicable regulations.
• Support implementation of audit observations and regulatory recommendations.

Automation & Process Improvement

• Automate repetitive reporting processes using Excel VBA, Power BI, or other reporting tools.
• Work with IT teams on finance system enhancements, integrations, automation initiatives, and process simplification.
• Contribute to process standardization and continuous improvement initiatives.

Key Result Areas

Impact on Business / Function

• Accurate and timely financial statements.
• Strong financial controls and reconciliation processes.
• Simplified and efficient reporting processes.

Customers / Stakeholders

• Positive feedback from regulators, auditors, shareholders, senior management, and internal departments.
• Effective coordination with IRDAI, Life Council, IFSC regulators, and auditors.

Leadership & Teamwork

• Build strong working relationships across functions.
• Facilitate knowledge sharing and collaboration.
• Manage delivery under tight timelines and dynamic business conditions.

Operational Effectiveness & Control

• Maintain robust controls for financial reporting and analysis.
• Deliver clear, actionable financial reports to management.

Required Skills & Competencies

Technical Skills

• Insurance accounting and financial reporting.
• GL closure, OPEX accounting, and financial reconciliations.
• Regulatory reporting for life insurance operations.
• SAP, Oracle, or similar ERP systems.
• Advanced MS Excel.
• Excel VBA and Power BI.
• Audit support and internal control processes.

Regulatory Knowledge

• IRDAI regulations.
• SEBI requirements.
• GIFT City / IFSC regulations.
• SEZ compliance requirements.
• IFRS / Ind AS awareness.

Behavioral Skills

• Strong analytical and problem-solving ability.
• Excellent interpersonal and communication skills.
• Stakeholder management.
• Ability to work under pressure and meet strict deadlines.
• Leadership and team collaboration.

Educational Qualification

• Bachelors degree in Commerce, Finance, Accounting, or related field.
• CA / CMA / MBA Finance or equivalent professional qualification preferred.

Experience

• Relevant experience in finance reporting, insurance accounting, regulatory reporting, GL reconciliation, and financial controls within the life insurance or financial services industry.
• Experience in Shared Services, MNC finance, or regulated financial institutions will be an advantage.

Major Challenges

• Managing regulatory changes and evolving accounting frameworks.
• Meeting tight reporting timelines.
• Coordinating with multiple internal and external stakeholders.
• Handling dependencies across departments for financial closure activities.