Vice President – Financial Accounting & Reporting

BASIC INFORMATION

Position Title

 Vice President – Financial Accounting & Reporting

Grade/Level

M4 level

Department

Finance & Accounts

Location

Corporate Office, Mumbai

Business

Position Reporting To

Senior Vice President – Finance & Accounts

Total Headcount (Direct) Supervised

2

Total Headcount (Direct / Indirect) Supervised

2

Geography Managed

Pan India

Additional Inputs

JOB PURPOSE

This role holder has responsibility for review of financial statements on monthly, quarterly, and annual basis in compliance with IRDAI Regulations. The incumbent will also be responsible for implementation of accounting standards, and timely responses to internal and external information requests, contributing to the financial integrity and reputation of the company.

KEY RESPONSIBILITIES

Managerial Responsibility

·       Recruitment of staff in Finance team as per the business requirement

·       Managing performance of team members; counselling & coaching team members from time to time to improve their performance 

·       Team engagement & retention of talent

Functional Responsibility

ü  Financial Accounting & Reporting

ü  Identify and rectify inaccurate accounting practices that may impact profits.

ü  Ensure adherence to accounting standards and compliance with IRDAI regulations and other applicable statute

ü  Review financial statements on a monthly, quarterly, and annual basis

ü  Review quarterly financial results and participate in the preparation of performance reviews and press releases for submission to Stock Exchanges

ü  Review of Expenses of Management on quarterly and annual basis to ensure compliance with IRDAI Regulations

ü  Oversee implementation of Indian Accounting Standards project

ü  Process Improvement and Initiatives

ü  Collaborate with other departments to improve cost-effectiveness and optimize financial resources

ü  Implement automation tools and technologies for financial reporting processes to reduce manual efforts and enhance accuracy

ü  Compliance & Good Governance

ü  Accurate & error free record keeping of transactions and ensuring time to time reporting to the Management, Board & Regulators

ü  Stakeholder Relations

ü  Build and maintain strong relationships with internal stakeholders, external auditors, regulatory authorities, and investors

ü  Effectively communicate financial performance, strategies, and challenges to the board of directors and other stakeholders

ü  Check financial statements, annual reports, investor presentations, print publications, public disclosures, etc., for various stakeholders including policyholders, regulators, life council, and shareholders

JOB REQUIREMENTS

Qualification & Experience

Qualifications –

·       Masters/ Bachelor’s degree in Accounting / Finance / Business Administration or any other subject in Commerce from any reputed university.

·       A professional accountant like Chartered Accountant (CA), Certified Public Accountant (CPA) or any other internationally recognized professional certification is preferred.

Experience –

·       12+ years of relevant experience, with a minimum of 7 years at a managerial level.

·       Experience in a regulated industry preferably insurance or financial services

Functional / Technical Skills

·       Proficient in Knowledge of Insurance Fundamentals, Products & Processes

·       Proficient in Business Accounting & Financial Planning

·       Proficient in Regulatory Reporting, Shareholder Reporting

·       Proficient in Business Analytics, Business Planning & Forecasting

·       Digital Readiness – Proficient in working on MS Office & Android / Apple Platforms

APPROVAL HISTORY

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