Assistant Manager, Finance

Overview

Manage financial reporting, accounting, reconciliations and audit coordination for the Indian entities of a global reinsurance company, under IFRS (Ind AS).

What you'll do

• Ensure accurate and complete financial reporting in a timely manner.
• Ensure accurate accounting related to revenue, accounts payable, fixed assets and tax.
• Ensure vendor invoices are processed on a timely basis and as per agreed SLA with function.
• Prepare plan vs actual comparison and variance analysis for management, with reasoning for variances.
• Define proper internal controls over finance processes and over fixed asset procurement and timely physical verification.
• Lead and coordinate with statutory and internal auditors, facilitating timely closure of statutory and internal audits without escalations.
• Ensure all expenses are approved as per DOA and approval guidelines, and that there are no overdue related party balances in the financials.
• Manage the month, quarter and year-end close-down process.
• Analyse balance sheet codes and ensure balances are accurate and current; reconcile balances with the source system.
• Ensure tax compliance, including correct TDS rates on expense invoices, GST rates on invoices and IUC expenses.
• Assist with reviewing policy account balances, including premiums receivable, and with addressing collection issues.
• Ensure effective cash management, including monitoring future cash requirements and funding levels.
• Ensure completion of periodic returns, regulatory returns, tax filings and annual financial statements.
• Drive process improvements in expense processing and financial reporting, including a formal review mechanism for existing processes.
• Participate in budgeting for non-insurance related expenses in consultation with the reporting manager, and drive expense analysis and control.
• Ensure accounting processes are in line with SOX narratives and that there are no unreconciled items in bank reconciliation.
• Implement new processes and controls to address auditor concerns related to non-insurance areas.
• Work closely with the regional team handling inter unit charges to determine tax implications and settle balances without delay.

What you'll need

• Bachelor's degree holder.
• Understanding of IFRS (Ind AS) accounting for Indian companies.
• 3-5 years of middle management work experience in insurance accounting and tax.
• Good exposure in Big 4 and/or insurance companies.
• Good command over written and spoken English.
• Accounting knowledge of India GAAP, Ind AS and US GAAP.
• Experience of financial reporting, insurance accounting and system reconciliations.
• Experience managing and leading statutory audit processes.
• Good understanding of insurance/reinsurance business.
• Strong analytical and reconciliation skills to ensure strong internal controls implementation and review.
• Stakeholder management skills.
• Ability to strictly adhere to timelines, with project management skills.
• Ability to resolve complex issues independently, drawing on industry knowledge and accounting principles.
• Company secretarial experience in filing returns.
• Basic coordination of legal work, such as agreements and contracts.
• Knowledge and experience of foreign exchange matters.

Nice to have

• Semi-qualified chartered accountant with 4-5 years of work experience.
• Exposure to Indian private limited company financial reporting.
• Proficiency in Microsoft Excel.
• Capability to work on standard reporting tools such as Power BI.

Details

• Location: Mumbai, India.