Key Responsibilities

1. Core Finance Function

- Financial Accounting & Reporting - Prepare statutory financial statements, maintain ledgers, generate MIS.

- Regulatory Compliance - File IRDAI returns, ensure compliance with Companies Act, Income Tax, and GST; manage audits.

- Accounts Payable & Receivable - Process vendor payments, reconcile premium receivables, track ageing.

- Reinsurance Accounting - Manage ceded premiums and recoveries, reconcile balances, monitor treaties.

- Claims Payment & Reserving - Provision for IBNR/IBNER, coordinate with actuaries, ensure timely settlements.

- Taxation - Handle direct tax filings, GST compliance, transfer pricing, and withholding tax.

- Internal Controls & Risk Management - Implement IFC, develop fraud prevention measures, support risk management.

2. Requirements Management & Project Delivery

- Collaborate with Finance teams to identify process gaps and automation opportunities.

- Document business requirements, functional specifications, and process flows.

- Validate IT deliverables against agreed requirements prior to deployment.

- Participate in finance-related IT projects, including ERP implementations and core finance module upgrades.

- Track project progress, manage timelines, and ensure effective stakeholder communication.

- Support User Acceptance Testing (UAT) and secure necessary approvals before go-live.

3. System Support & Incident Management

- Handle escalations from Finance users for core insurance systems, ERP, and finance applications.

- Liaise with IT support teams/vendors for timely resolution.

- Monitor recurring issues and implement preventive measures.

4. Compliance & Audit Support

- Ensure finance-related IT systems comply with IRDAI, IFRS, and local regulatory requirements.

- Collaborate with IT on audit queries related to financial data and system controls.

5. Business & IT Liaison

- Serve as the primary bridge between Finance and IT teams for technology-related requirements.

- Translate finance processes in insurance (e.g., premium accounting, claims payments, reinsurance accounting, financial reporting, float management, payment reconciliation) into detailed IT requirements.

- Coordinate system enhancements, defect fixes, and upgrades impacting finance modules.

Profile Requirements:

Education & Experience:

- Graduate/Postgraduate in commerce, Insurance, Finance, or related field.

- Experience in Indian General Insurance, preferred

Key Skills:

- Strong domain expertise in Finance and Regulatory compliance.

- Proficiency in requirement gathering, BRD/FRD documentation, and process mapping.

- Excellent communication, analytical, and stakeholder management skills.

Tools & Platforms:

- Familiarity with accounting systems (Oracle finance, SAP, Sun system) preferred.

- Experience with MS office (Word, Excel, Powerpoint).

- Working knowledge of IRDAI regulations, GST, and Indian accounting standards.