Vice President – IFRS

Job Description

Position Title:
Vice President – IFRS (International Financial Reporting Standards)

Grade/Level:
M4 Level

Department:
Finance

Location:
Mumbai

Business:
Finance & Accounts

Reporting To:
Senior Vice President – Finance & Accounts

Geography Managed:
Pan India

Note:- Need Candidates From Life Insurance only

Job Purpose

The Vice President – IFRS will play a pivotal leadership role in ensuring Company adheres to International Financial Reporting Standards (IFRS). The position will focus on driving compliance, implementing IFRS-related changes, and delivering transparent, accurate, and timely financial reporting. The ideal candidate should possess deep expertise in IFRS (particularly IFRS 17 and IFRS 9) within the life insurance sector, with proven ability to lead cross-functional teams and provide strategic financial insights to senior leadership.

Key Responsibilities

Managerial Responsibilities

• Recruit and build a high-performing Finance team aligned with business requirements.
• Drive performance management, provide coaching and counseling, and foster continuous professional growth.
• Ensure talent engagement, retention, and succession planning within the department.
• Create a culture of learning and knowledge-sharing in IFRS and financial reporting.

Functional Responsibilities

1. IFRS Standards Implementation & Compliance

• Lead the adoption and application of IFRS standards across financial reporting and operations.
• Ensure full compliance with IFRS requirements, particularly IFRS 17 (Insurance Contracts), IFRS 9 (Financial Instruments), and other applicable standards.
• Act as the subject matter expert, advising on complex accounting treatments and regulatory compliance.

2. Strategic Reporting & Insights

• Oversee preparation, analysis, and presentation of IFRS-compliant financial statements.
• Provide senior management with insights on the business impact of IFRS standards.
• Lead management and board reporting, highlighting key trends, risks, and opportunities.

3. Regulatory Reporting & External Audits

• Serve as the primary contact for auditors and regulators on IFRS-related matters.
• Ensure financial statements meet statutory and regulatory requirements for listed entities.
• Oversee timely and accurate submission of regulatory filings.

4. Team Leadership & Development

• Mentor and develop finance professionals in IFRS and technical accounting skills.
• Instill a culture of excellence, accountability, and collaboration.

5. Cross-Functional Collaboration

• Partner with Actuarial, Risk, and Investments teams to align IFRS with financial operations.
• Ensure consistent and accurate integration of IFRS standards across the business.

6. Change Management

• Lead IFRS-related change initiatives, including updates to accounting standards and evolving regulatory requirements.
• Monitor and communicate changes in IFRS to senior stakeholders, ensuring organizational readiness.

Job Requirements

Qualifications

• Master's or Bachelor's degree in Accounting, Finance, Business Administration, or Commerce from a reputed university.
• Professional certification such as Chartered Accountant (CA), Certified Public Accountant (CPA), or equivalent international qualification is highly preferred.

Experience

• 15+ years of experience in financial reporting, accounting, or related finance roles, with a minimum of 5 years in a leadership position.
• Strong exposure to the insurance/financial services industry.
• Hands-on expertise in IFRS, particularly IFRS 17 and IFRS 9.
• Prior experience managing external audits, regulators, and board-level reporting in a listed company.

Functional / Technical Skills

• Deep knowledge of IFRS and financial reporting frameworks for life insurance.
• Proficiency in ERP and financial reporting tools (e.g., SAP, Oracle).
• Advanced analytical skills with the ability to translate complex financial data into strategic insights.
• Strong leadership, communication, and stakeholder management skills.

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