Kotak Life
Website:
kotaklife.com
Job details:
Job Title: Senior Manager
Department: Finance
Work Location: Goregaon (East), Mumbai
Education: Qualified CA
Experience: 0 - 1 year
Job Description
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 advantage
Understanding of insurance sector financial reporting and IRDAI regulations
Experience with ERP/reporting systems and data mapping
Strong communication and stakeholder management abilities
Qualification & Experience
Qualified Chartered Accountant (CA) or equivalent
- Knowledge of financial reporting or audit in insurance sector
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