POSITION DESCRIPTION JOB TITLE : Corporate Financial Analyst GRADE : SM DEPARTMENT : Finance and Accounts LOCATION : HO SUB-DEPARTMENT : Regulatory and Financial Reporting TYPE OF POSITION : Full-time REPORTS TO : Manager – Regulatory and Financial Reporting REPORTING INTO NA
ROLE PURPOSE & OBJECTIVE
Responsible for preparing the Quarterly Ind AS financial Statements along with Notes to accounts as per Banking Regulation Act and working with Statutory Auditors for audit Closure with no or minimum audit observations.
Timely preparation of regulatory returns / Certifications / regulatory filings (related to financial numbers) for onward submission to the RBI. Must have strong understanding of trail balance, accounting entries and conceptual knowledge of financial statements.
Assistance to Manager- Regulatory reporting/Deputy CFO on various projects involving process streamlining and coordination with various departments.
Ensuring timely closure of all statutory audit observations, coordination with various intra and inter departments to get response and provide periodical update to the Board/ Top Management.
SIZE OF THE ROLE
FINANCIAL SIZE
NON-FINANCIAL SIZE
NA
Preparation of regulatory reports- 8 to 10 adhoc and 3 to 5 regular return per quarter
Assistance in creation of Policies and Process – 5 to 7 per year
KEY DUTIES & RESPONSIBILITIES OF THE ROLE
Financials
Preparation of Ind AS (fit for consolidation) financials along with Notes to accounts as per Banking Regulation Act and getting it reviewed by the Statutory Auditors during Quarterly/yearend. The role involves direct interaction and working with the Auditors.
Liaisoning with Statutory Auditors and ensuring closure of Long Form Audit Report/ other applicable certifications as per RBI norms on regular basis.
Performing analytical reviews of month on month and quarter on quarter numbers, variances and present to the CFO/Top Management
Must have strong knowledge of accounting standards (both IGAAP & Ind-AS), accounting entries concept, Companies Act 2013,
taxation laws (both direct and indirect tax) etc.
Regulatory Filings
Timely preparation of regulatory returns / Certifications (related to financial numbers) – reconciliations. Must have strong understanding of trail balance, accounting entries and conceptual knowledge of financial statements.
Working with all the relevant departments to get relevant data for the above returns, validating the same and ensuring accuracy of filing to the RBI.
RBI Inspections – Preparation (wherever required) and co-ordination with all the sub-departments in Finance for collating the data for RBI inspections.
Ensuring accuracy of returns/regulatory filings related to financial statements, while its preparation. The person would be responsible and accountable for correct preparation of returns and will be the first line of defense for accurate filing to be made to the regulatory authorities. The regulatory reporting to the RBI carries reputational risk for the organization and any mistakes/observations/escalations are viewed very seriously and may have penalty implications on the Bank.
Internal Processes
Assisting Deputy CFO and Manager- regulatory reporting in various process improvements/ projects, understanding existing processes of the organization, and should be able apply analytical skills to suggest improvements in the processes and develop efficiency.
Annual review and streamlining the processes/ SOP within department.
Coordinating with various teams/departments within the organization to ensure all information to RBI authorities and Statutory Authorities are provided on time.
Learning & Innovation
To keep oneself up to date on relevant regulatory updates and Ind AS amendments
To complete all online learning modules on time
To complete the self-assessment on time
Customer
Role involves direct interaction with Statutory Auditors, getting financials reviewed and audit closed with minimum or no observations.
Attend and assist to any related queries of the RBI related to the filings made.
Must be able to guide Operations, IT & Business teams for any needful actions to be undertaken pursuant to any new requirements / changes in existing requirements per laws.
Handling Internal Audit of the organization and ensuring minimum or no observation. Acting and keeping track of all observations to close it on timely basis.
MINIMUM REQUIREMENTS OF KNOWLEDGE & SKILLS
Educational
Qualifications
~ CA/CMA (Recently qualified/ 1 year post qualification experience)
Experience
Must have completed 3 years article ship training, preferably with Bank audit experience during article ship.
Robust knowledge of accounting standards (both IGAAP and Ind-AS), conceptual understanding of accounting entries, Companies Act 2013 and tax laws.
Certifications
~ NA
Functional Skills
Strong accounting/ financial reporting background
Having familiarity with Ind AS concepts and preferably having audit experience of Ind AS financials during article ship.
Hands on experience with MS Office
Behavioral Skills
Adequate analytical skills
Keen learning ability
Strong verbal and written communication
Time Management skills
Crisis Management skills
Competencies Required
Planning & Organizing
Driving Execution
Collaboration
KEY INTERACTIONS
INTERNAL
EXTERNAL
Finance & Accounts team
Business / Product teams
Operations team
IT team
Credit/ Risk team
Other Functional teams on need basis
StatutoryAudit team
Tax Audit team
RBI Audit team
PREPARED BY: Vasavi Priya E K