Assistant Vice President - Finance & Accounts

Employer
Confidential
Location
Mumbai
Posted
Jun 17, 2024
Closes
Jul 01, 2024
Ref
4737007169
Work Mode
Work from office
Hours
Full Time
Organization Type
Corporate
Role description

A Position Overview

Position Title

AVP - Finance and Accounts

Department

Ind AS Project

Level/ Band

As per HR Policy

Role Summary: To ensure compliance to the procurement process while ensuring business requirements are met within targeted timelines and quality parameters

B Organizational Relationships:

Reports To

Project SPOC

Supervises

NA

C Job Dimensions:

Geographic Area Covered

Corporate

Stakeholders Internal

All Users

External

Parent & Group Companies, Auditors, Consultants

D Job description:

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.
  • 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.


Project-related skills
  • 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.


E Skills Required

Technical
  • Knowledge of key Insurance Regulations / Products
  • Insurance accounting knowledge and IFRS / IND AS

Behavioral

Essential

Desired

Interpersonal skills


Communication skills


Creative thinking skills


Supervising/Leadership skills


Teamwork Skills


Influencing skills


Relationship Building skills


Decision making skills


F Incumbent Characteristics

Essential

Desired

Qualification

CA / MBA

Experience

AVP 10+ years PQE

Skills: Ifrs, Sap Fico, Gap Analysis, FPSL, Drive For Results, Consulting, Implementation, Business Requirement Document, Ms Office Suite, Ind As, agility , ownership

Experience: 10.00-12.00 Years