Manager - Financial Control

APosition Overview

Position Title

Manager Finance Controls

Department

F&A

Level/ Band

Manager

Role Summary:

15% to 20% experience in system related activities and 80% to 85% control related activities.

·Finance Systems Digital Transformation

·System Support

·Internal financial controls review and testing at process level.

·Financial Risk Analysis

·Preparation of various Approval authority matrices at Organization level for various activities

·Control reports identification, preparation and monitoring

·Organisation level process reviews and identification of scope of improvement from control perspective

·Balance sheet reconciliation review and reporting

BOrganizational Relationships

Reports To

Head Finance Controls

Supervises

1

CJob Dimensions

Geographic Area Covered

Corporate & Zonal Level Depts.

StakeholdersInternal

All departments

External

Statutory Auditors and AIA

DKey Result Areas

Area

Details

Finance Systems Digital Transformation

·Automation of Key Finance Manual Processes. Drive automation in Finance thru RPA and system upgrades.
This includes Risk tool implementation and BRS implementation support and new E-claims system and other projects planned for Finance (Eg. SAP BPC)

·IT development prioritization along with various stakeholders . Ensure various updates are carried as per agreed TAT. Circulate fortnightly MIS with regard to status update and timelines for Go live

·Periodic review of various rights given to users as per their role and rights mapping in a role to avoid any financial risk

·Monthly User certification, quarterly role Certifications, AAM review as defined in SOP/ certification by FC team through reports from various systems.

Finance controls review and testing at process level

·Ensure Processes are updated covering all financial risks and their mitigation plans.

·Perform testing of various financial processes to identify area of control weakness and agree on the mitigation plan

·Loss event monitoring to ensure controls are put in place to avoid their future occurrence

·Ensure closure of various periodic deliverable with regard to companies act requirement on Internal financial controls and liaison with statutory and internal auditors to seek certification regarding adequacy of the same

Financial Risk Analysis

·Carry periodic assessment of Balance sheet reconciliation for various assets and liabilities accounts to ensure nil financial exposure.

·Financial Controls Assessment Evaluation for various F&A Functions to avoid any financial risk

·Risk control assessment for various finance functions to avoid financial and operational risks including process /SOP reviews

Reporting

·Management and Group reporting on various financial control aspects

·Various adhoc reports /analysis /projects drive

System Support

·Creating/checking critical master in SAP like GL, Profit Centre, etc.

·Review and track CRs from controls perspective and coordinate with IT for necessary status update and aligning with internal stakeholders

ECompetencies

Competency For

Proficiency Scale

Proficiency Scale Description

Demonstrating extraordinary

levels of energy and effort that

result in high performance

delivery through systems and

processes, with the flexibility

and openness to respond to

change as a result of business

plan and regulatory guidelines.

3

Is self driven and extremely motivated towards achievement of set target.

Depicts a sense of urgency for solving problems and getting work done in the most efficient manner.

Ascertains when it is appropriate to intervene in situations that jeopardize the attainment of goals.

Seeks feedback from stakeholders to help improve performance.

Takes ownership of decisions and actions that advance objectives.

Adapts to changes in priorities, assigned responsibilities and projects.

Demonstrates a willingness to change ideas or perceptions based on new information or contrary evidence or technological advancements.

Develop, maintain and strengthen

relationships with internal and

external stakeholders by

working horizontally as well as

vertically within organization

and external partners with the

goal to create a win - win

relationship at work and achieve

the business outcomes.

3

Is aware of one’s own style or preference and its impact on others.

Responds to complex customer needs promptly and keeps superiors informed about own actions & their context.

Is aware of the differences in style among people and adapts one’s own style to betterwork with others with differing styles.

Gains agreement from stakeholders to support ideas or take partnership-oriented action; uses sound rationale to explain value of actions.

Communicates changes or problems to peers, team members, and/or others and work on solutions.

Makes others feel comfortable by responding in ways that convey interest in what they have to say.

Ability to align with the

organization's vision with a fair

understanding of the financial

processes, Insurance industry

regulations and financial

markets in order to deliver

profitable and sustainable

business growth.

3

Reviews and works towards enhancements of existing processes and systems in order to enable efficient financial transactions aligned to customer and consumer expectations.

Demonstrates fair understanding of the F&A process and focuses on meeting budgets.

Has a fair knowledge about company and competitor's products.

Has fair knowledge of insurance industry regulations and financial markets.

Has an in-depth understanding of one's own and team goals and drives the team to achieve the desired budgets.

Displays a wide range of

considerations and perspectives

to a particular situation by

analyzing facts, data and scenario

based insights to enable a

logical, well-reasoned and

informed decision - making

process.

3

Able to seek inputs from internal/external customers effectively.

Presents in-depth analysis by seeking benchmarking data, industry insights and networking with other colleagues.

Anticipates potential obstacles and develops contingency plans to overcome them.

Able to identify relevant alternatives and evaluates the potential consequences of each before taking action.

Thorough understanding of

knowledge and skills sets required

to excel within the function in

order to build a business model

leading to sustainable growth for

Customers and consumers.

3

Understands the need of the finance and accounting processes and policies and makes recommendations accordingly.

Is able to develop various plans for deploying the strategy effectively impacting one's area of work.

Continuously seeks inputs and knowledge to improvise processes and systems in one's own area of work.

Keeps oneself abreast of the evolving trends and practices within the finance and accounting domain.

The ability to analyze data and

use knowledge/experience to

make decisions in a structured

manner based on logical

assumptions and factual

information, in line with the set

regulations and guidelines.

Identifying problems and

providing solutions by developing

a course of action taking into

consideration resources,

constraints and organizational

guidelines, regulations & values.

2

Is able to analyze complex data to provide inputs that will help take decisions, when the situation is clear and options are obvious.

Is able to look at domain specific problems and approach them in an organized fashion drawing appropriate inferences.

FSkills Required

Technical : Proficiency in SAP, Advanced Excel and MS office, MS Visio, P2P, Finance systems, RPA etc.

Behavioral (Refer Appendix for details)

Essential

Desired

Interpersonal skills

Yes

Communication skills

Yes

Creative thinking skills

Yes

Supervising/Leadership skills

Yes

Teamwork Skills

Yes

Influencing skills

Yes

Relationship Building skills

Yes

Decision making skills

Yes

FIncumbent Characteristics

Essential

Desired

Qualification

C. A.

Experience

5+ years

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