Role description

A Position Overview

Position Title

Finance Trainee - Finance and Accounts

Department

Finance & Accounts

Level/ Band

202 / Executive

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:

Reporting / Treasury / Ind AS / IFRS / Products

- 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

- Preparation of Statutory Financial statements as per IRDAI format
- Preparation of monthly/quarterly financials for IRDAI reporting
- 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)

Investment Team

- Preparation of Cash flow statement along with analytics for investment decision
- Doing Daily Reconciliation of Subscription & Redemption, Units, Holding in SAP system
- Corporate action processing in SAP Investment Management system
- Assisting with Investment Audit
- Preparation of Fund factsheet, Fund performance

Products / Pricing / BMO / H&W; Team

- Assist in strategy for product formulation
- Prepare F&U; file for IRDAI
- Analyse the products for profitability
- Closely work with distribution team to drive business strategy
- Closely work with Health & wellness team in designing cutting-edge health products and drive strategic offerings w.r.t. customer wellbeing.

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

Experience

AM 0 - 2 years PQE

📌 Finance Trainee (Mumbai)
🏢 Tata AIA Life
📍 Mumbai