Financial Management

Position – Financial ManagementLocation-MumbaiTotal Experience 7+ years of experienceDomain / Vertical InsuranceQualificationsEducational Chartered AccountantCertification IFRS is mandatory

Relevant Experience• 7+ years of experience in Accounting and/or Financial Management.• 3+ years of experience into Insurance Industry.• Generally accepted accounting principles (GAAP) & International FinancialReporting Standards (IFRS) and risk management principles.

KEY ACCOUNTABILITIES/KRAS/KPIS:INTERNAL PROCESS• Oversee accounting practices in line with group standards and ensure that cost allocations are aligned to the business methodology.• Manage the implementation of segment finance polices, procedure and controls in line with Group Finance frameworks.• Manage the implementation and adherence to financial controls on all line of business and financial systems and ensure that authorization levels are adheredto and raise any exceptions with the relevant stakeholder.• Oversee the accuracy, validity and authorization of journals processed within the area of responsibility.• Manage the creation and maintenance of records on the financial management system to ensure the accuracy and integrity of financial records and documents.• Manage the resolutions of financial queries.• Manage the reconciliations of the transactions on the bank statement to the General Ledger, and between line of business systems and payment systems.• Investigate, identify and make recommendations to improve cost management.• Advise stakeholders regarding the implement of the preferential procurement process and the implications of non-compliance.• Support the preferential procurement process and provide management information and insights regarding suppliers.• Contribute to the interpretation and explanation of financial analysis, forecasts and scenarios in order to guide business decision making for the segment.• Oversee the delivery of accurate and relevant management reports and analysis that add value and insight for the business.• Oversee the delivery of accurate and timeous segment reporting (including KPI and operational reports), analysis and insights.• Review consolidated segment reports to ensure that the information is appropriate and accurate.• Contribute to the audit process and resolve any audit queries within deadlines.• Control and track the budget for the various departments within area of responsibility.• Facilitate and manage the budgeting process and evaluate budget information received and discuss errors or omissions with stakeholders.• Keep abreast of trends, legislation and best practices within the financial management field in order to optimize service offering and delivery.• Deliver monthly financial statements to stakeholders within agreed timeframes and adequately address and resolve stakeholder queries.• Manage the implementation and adherence to financial controls and ensure that authorization levels are adhered to and raise any exceptions with the relevant stakeholder.• Manage execution of the financial aspects of contracts and verify that all financial commitments listed in agreement are met based on the terms written in the contract.• Have a clear understanding go business drivers that impact financial results, to apply to analysis and recommendations.• Analyse and review past financial trends to assist business with prediction models, forecasting, scenario testing and target setting, to drive business results.

CLIENT• Provide authoritative, expertise and advice to clients and stakeholders.• Build and maintain relationships with clients and internal and external stakeholders.• Contribute to the process of negotiating objective and realistic service levelagreements, monitor appropriateness and recommend adjustments.• Define service practices which builds rewarding relationships, encourages innovation and allows others to provide exceptional client service.• Deliver on service level agreements made with clients and internal and external stakeholders in order to ensure that client expectations are managed.• Make recommendations to improve client service and fair treatment of clients within area of responsibility. Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service.

PEOPLE• Manage and maintain stakeholder relationships between business and centralized Group Finance, to ensure alignment and collaboration.• Create a positive work climate and culture to energize employees, give meaning to work, minimize work disruption and maximize employee productivity.• Demonstrate exemplary leadership behavior, through personal involvement, commitment and dedication in support of organizational values.• Select and recruit suitably qualified talent in line with Employment Equity principles and values.• Drive a culture that guides and directs best practice, fostering an environment of continuous learning, improvement and cohesiveness.• Enable a learning and growth culture whereby information regarding successes,issues, trends and ideas are actively shared between team members.• Execute effective workforce planning practices to ensure that staffing requirements are accurately forecasted.• Identify employee growth and development needs and schedule interventions to enable ongoing development, training and personal growth.• Effectively manage performance within the team in order to ensure business objectives are achieved.• Encourage innovation, change agility and collaboration within the team.• Support the building of the team’s capability in order to ensure that the team is equipped to strategically partner with business and provide leading solutions.

FINANCE• Control and track the budget for the various departments.• Facilitate and manage the budgeting process and evaluate budget information received and discuss errors or omissions with stakeholders.• Review all departmental budgets that roll up to the consolidated budget and provide insights into variances against prior year and trend analysis.• Proactively engage with business to forecast expenses and identify solutions toenhance cost effectiveness and increase operational efficiency.• Manage high risk and problematic financial issues in area of accountability and contribute to the development of policy.• Implement and manage financial risk methodologies, techniques and systems and use to monitor and report on financial activities.• Implement and provide feedback on the effectiveness of financial policy, practice and procedures preventing illegal, unethical or improper conduct.• Implement risk management, governance and compliance policies in own practice area, to identify and manage governance and risk exposure liability. Investigate reported willful acts of non-compliance to organisation policy and practice and report on findings.

Functional Mandatory Skills:• 7+ years of experience in Accounting and/or Financial Management.• 3+ years of experience into Insurance Industry.• Generally accepted accounting principles (GAAP) & International Financial Reporting Standards (IFRS) and risk management principles.• Proficient in Microsoft Office Suite• General knowledge of financial and IT systems and business processes within line of business systems (i.e. understand workflow and link to financial impact)

Interested candidates kindly write to meDisha

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