Corporate Financial Analyst

JOB TITLE

Corporate Financial Analyst

GRADE

SM

DEPARTMENT

F & A

LOCATION

HO

SUB-DEPARTMENT

Regulatory and Financial Reporting

TYPE OF POSITION

Full-time

REPORTS TO

Senior Manager Regulatory and Financial Reporting

II. ROLE PURPOSE & OBJECTIVE

• Responsible for preparing the Half yearly Ind AS financial Statements and Ind AS Proforma return and working with Statutory Auditors for audit Closure with no or minimum audit observations for other certifications and LFAR.
• Timely preparation of regulatory returns / Certifications / regulatory filings (related to financial numbers) for onward submission to the RBI. Must have strong understanding of trail balance, accounting entries and conceptual knowledge of financial statements.
• Assistance to Senior Manager- Regulatory reporting/Deputy CFO on various projects involving process streamlining and coordination with various departments.
• Ensuring timely closure of all statutory audit observations, coordination with various intra and inter departments to get response and provide periodical update to the Board/ Top Management.
• Computation of monthly MCLR workings before due date and timely communication of the same to respective internal stakeholders
• Computation of half yearly DICGC premium payable

. KEY DUTIES & RESPONSIBILITIES OF THE ROLE

Financials

• Preparation of Ind AS (fit for consolidation) financials and Proforma Ind AS return as per Banking Regulation Act and getting it reviewed timely.
• The role involves direct interaction and working with the Auditors.
• Liaisoning with Statutory Auditors and ensuring closure of Long Form Audit Report/ other applicable certifications as per RBI norms on regular basis.
• Performing analytical reviews of month on month and quarter on quarter numbers, variances for regulatory queries/ internal reviews
• Must have strong knowledge of accounting standards (both IGAAP & Ind-AS), accounting entries concept, Companies Act 2013, taxation laws (both direct and indirect tax) etc.

Regulatory Filings:

• Timely preparation of regulatory returns / Certifications (related to financial numbers) reconciliations. Must have strong understanding of trail balance, accounting entries and conceptual knowledge of financial statements.
• Working with all the relevant departments to get relevant data for the above returns, validating the same and ensuring accuracy of filing to the RBI.
• RBI Inspections Preparation (wherever required) and co-ordination with all the sub-departments in Finance for collating the data for RBI inspections.
• Ensuring accuracy of returns/regulatory filings related to financial statements, while its preparation. The person would be responsible and accountable for correct preparation of returns and will be the first line of defense for accurate filing to be made to the regulatory authorities. The regulatory reporting to the RBI carries reputational risk for the organization and any mistakes/observations/escalations are viewed very seriously and may have penalty implications on the Bank.

Internal Processes:

• Assisting Deputy CFO and Senior Manager- regulatory reporting in various process improvements/ projects, understanding existing processes of the organization, and should be able apply analytical skills to suggest improvements in the processes and develop efficiency.
• Annual review and streamlining the processes/ SOP within department.
• Coordinating with various teams/departments within the organization to ensure all information to RBI authorities and Statutory Authorities are provided on time.

Learning & Innovation

• To keep oneself up to date on relevant regulatory updates and Ind AS amendments/ IGAAP amendments
• To complete all online learning modules on time
• To complete the self-assessment on time

Customer

• Role involves direct interaction with Statutory Auditors, getting financials reviewed and audit closed with minimum or no observations.
• Attend and assist to any related queries of the RBI related to the filings made.
• Must be able to guide Operations, IT & Business teams for any needful actions to be undertaken pursuant to any new requirements / changes in existing requirements per laws.
• Handling Internal Audit of the organization and ensuring minimum or no observation. Acting and keeping track of all observations to close it on timely basis.

V. MINIMUM REQUIREMENTS OF KNOWLEDGE & SKILLS

Educational

Qualifications

• Chartered Account (Recently qualified/ 1 year post qualification experience)