Lead Assistant Manager

2 days ago

Noida Noida Centre India Insurance Full time ₹ 12,00,000 - ₹ 36,00,000 per year
Job Description

Position Title, Responsibility Level

Lead Assistant Manager

Function

Close and Consolidation

Reports to 

Manager/Sr. Manager

Permanent/ Temporary

Permanent

Span of Control

I C

Location 

Noida – C59

Basic Function – 
  1. Process entails preparation of local GAAP adjustment journals for APAC, EMEA and LATHAM countries for an insurance client. 
  2. Work on period – end close cycle – Month-end/Quarter-end/Annual for local books of various countries
  3. Working knowledge on GAAP consolidation cycle and ability to prepare consolidation financials and provide commentary for Group consolidation under guidance
  4. This role involves overseeing the Bordeaux processing system, a proprietary tool or framework used for processing insurance premiums/claims, payments and financial records.
  5. This role involves managing cash from MGA, Commission to Agency, Cash to Insurer, Claims Vitesse - Fund movement.
  6. Reconcile the general ledger accounts, calculating appropriate adjustments and provisions and booking them to the ledger upon approval, performing intercompany netting, and preparing relevant financial reports (income statement, balance sheet, cash flow) for Leadership review 
Essential Functions
  • Requires the knowledge and ability to prepare Journals and Reconciliations, investigate problems and organize projects
  • Insurance accounting regulatory reporting experience and US GAAP and IFRS knowledge preferred.
  • Experience with insurance industry standards, accounting regulation and reporting requirements.  

Organizational Relationships

Reports To :     Manager Supervises : NIL

SkillsTechnical Skills
  • Chartered Accountant, CPA, CFA or equivalent with 4-6 years' experience.
  • B. Com with strong practical experience in reporting for more than 6-8 years.

Process Specific Skills

  • Should have good understanding of GAAP accounting principles and procedures. 
  • Requires the knowledge and ability to prepare Journals, Reconciliations (Loss Fund Reconciliation, Bank reconciliations) and related reports, investigate problems and organize projects
  • Insurance accounting regulatory reporting experience or US GAAP/IFRS knowledge preferred.
  • Required strong attention to detail, expertise in Insurance financial, and deep understanding of accounting principles related to Insurance operations like - Bordereau processing, Claims & Reserves, Policy premium, reinsurance accounting, Audit support.
  • Manage cash from MGA, Profit commission payments & expenses.
  • Ability to understand the significance of various activities in a statutory/GAAP accounting close cycle and deliver results accordingly. 

Soft skills (Desired)

  • Must demonstrate effective and diplomatic oral and written communication skills 
  • Strong time management and organization skills
  • Effective training/support to executive/ Sr. executive /New joiners

Soft Skills (Minimum)

  • Self-disciplined and result oriented
  • Ability to multitask
  • Ability to work effectively as part of a team
  • Commitment and drive for results
  • Strong analytical skills 
  • Ability to understand and question established process guidelines to bring about possible process improvements
  • Ability to pay great attention to detail – especially during processing of transactions
 Education Requirements
  • Chartered Accountant, CPA, CFA or equivalent with 4-6 years' experience.
  • B. Com with strong practical experience in reporting for more than 6 - 8 years

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