Job Description

We are seeking a highly skilled and knowledgeable Finance & Accounts Specialist to join our team. As a Finance & Accounts Specialist, you will be responsible for managing expenses, implementing finance automation processes, and ensuring compliance with IRDAI (Insurance Regulatory and Development Authority of India) guidelines specific to the life insurance industry. Your expertise in finance, accounting, expense management, and regulatory compliance will play a critical role in maintaining accurate financial records and supporting the growth of our organization Responsibilities: Financial Accounting, controls & Automation: Should be well versed in Igaap on insurance contract Need to have fair knowledge of Ind AS 104 and 107 Prepare financial statements, including balance sheets, income statements, and cash flow statements. Preparation monthly solvency and capital requirement. Ensure monthly payment gateway reconciliations are performed with premium registers. Assess existing financial processes and systems, identifying areas for automation and improvement. Collaborate with cross-functional teams to implement finance automation tools and solutions. Streamline financial workflows, including accounts payable, accounts receivable, and financial reporting processes. Monitor the effectiveness of automation efforts and provide ongoing support and training to users. Stay updated with the latest IRDAI guidelines and regulations applicable to the life insurance industry. Identify internal financial controls from the risk matrix of the orgnisation. Perform periodic control testing, assess compliance, identify gaps, and implement corrective actions. Financial Reporting and Analysis: Should have expert level knowledge on various IRDAI reporting. Spearhead IRDAI reporting on a period basis including flash, BAP, quarterly , annually reports. Conduct variance analysis and provide insights into financial performance. Prepare periodic financial reports for management and stakeholders. Assist in the preparation of annual budgets and financial forecasts. Expense Management: Develop and implement effective expense management strategies and policies. Analyze and review expense reports, ensuring accuracy and adherence to budgetary guidelines. Identify cost-saving opportunities and recommend initiatives to optimize expenditure. Collaborate with various departments to monitor spending patterns and control expenses. Stakeholder Management: Collaborate with internal stakeholders, such as finance, operations, and legal teams, to ensure alignment and timely completion of tasks. Liaise with external auditors, regulatory authorities, and vendors as required. Provide support during internal and external audits, addressing queries and ensuring compliance. Qualifications and Skills: Bachelor\'s degree in Finance, Accounting, or a related field. A Master\'s degree or professional certifications (e.g., CA, CMA, ACCA) is preferred. Proven experience in finance and accounting roles within the life insurance industry. Strong knowledge of expense management principles and best practices. Experience in implementing finance automation tools and driving process improvements. In-depth understanding of IRDAI guidelines and regulations specific to the life insurance industry. Proficiency in financial analysis, budgeting, and financial reporting. Excellent analytical skills with a keen attention to detail. Strong interpersonal and communication skills to effectively collaborate with cross-functional teams. Ability to manage multiple priorities and meet deadlines in a fast-paced environment. High ethical standards and ability to handle sensitive and confidential information.

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