Finance Manager

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Support end to end implementation of Ind AS in line with IRDAI timelines and guidelines, ensuring accurate transition from existing accounting practices (IGAAP) to Ind AS, with specific focus on insurance contracts (Ind AS 117), financial instruments (Ind AS 109) and leases (Ind AS 116).

Key Responsibilities:

• Work with cross functional teams to prepare the Ind AS transition roadmap
• Define scope, milestones, deliverables and timelines for the implementation
• Track progress and coordinate with external consultants, auditors and IRDAI where necessary
• Identify and document required accounting policy, system changes, position papers and technical memos and data requirements
• Prepare and review Ind AS compliant financial statements and disclosures
• Support parallel run and dry run of Ind AS reporting
• Work on first time adoption adjustments including reconciliations of equity and profit & loss
• Coordinate with IT to modify core insurance systems, finance ERP and reporting tools for Ind AS compliant data capture and reporting
• Coordinate with IT to implement new calculation and reporting systems for Ind AS 117, I09 and 116
• Conduct UAT for new systems and changes made in existing system
• Develop and implement new controls and processes to ensure ongoing compliance
• Conduct workshops and training for finance, actuarial and business teams
• Ensure governance and approval for all Ind AS related changes

Required Skills and Competencies:

• Strong technical knowledge of Ind AS, particularly Ind AS 109, 116, 101. Knowledge of Ind AS 117 is added advantageUnderstanding of insurance sector financial reporting and IRDAI regulations
• Experience with ERP/reporting systems and data mapping
• Strong communication and stakeholder management abilities

Qualification & Experience

• Chartered Accountant (CA) or equivalent
• 4 years + experience in financial reporting or audit in insurance sector
• Prior experience in IND AS or IFRS reporting is added advantage
• Exposure to life insurance business processes is added advantage