Kotak Life Insurance - Team Lead - Finance & Accounts - Technical Accounts - CA

Job Profile: Team Lead - Finance & Accounts (Life Insurance) - Technical Accounts

Experience: 5 years

Location: Goregaon East

Qualification: CA

Industry type: Life Insurance/General Insurance

Position Overview:

We are looking for a highly diligent, analytical, Finance & Accounts Team Lead with specialized experience in the Life Insurance sector. In this role, you will anchor the core financial operations of the company ranging from the monthly closing of books to managing portfolios like ACB and Board deliverables, regulatory requirements, understanding of IGAAP, reviewing of Commission, Premium, Claims, Reinsurance accounting, Related Party Transactions (RPT). Exposure to IFRS accounting would be an advantage. As a team lead, you will be responsible for accurate reporting, analysis, stakeholder management and smoothen and improvise the processes.

Key Responsibilities:

1. Core Accounting & Monthly Closing:

- Lead and supervise the end-to-end monthly, quarterly, and annual closing of the life insurance books of accounts within strict timelines.

- Understanding of core accounting systems like Life Asia, Group Asia.

- Responsible for closure of books and review of financials with analysis.

- Ensure precise accounting entries, provision listings, and compliance with IRDAI regulations, Indian GAAP, and Ind AS.

- Responsible for correct and accurate accounting of Premium, commission, rewards, claims, Reinsurance recovery, Unclaimed, Claims Payable, Commission and Rewards Payable, Premium related payable.

- Understanding of Product of Life insurance.

- Managing the reporting part of regulatory returns like BAP, website Public disclosure, Commission Return, Schedule VI reporting and other adhoc IRDAI reporting.

2. Audit, Governance & Board Deliverables:

- Prepare high-quality financial decks, notes to accounts, and strategic deliverables for review by the Audit Committee of the Board (ACB) and the Board of Directors.

- Conduct monthly and quarterly variance analyses and evaluate core insurance financial ratios to provide actionable insights into cost and revenue drivers.

- Act as the primary operational contact for Statutory, Internal, and Management Auditors. Smoothly facilitate data schedules, resolve audit queries, and close requirements efficiently.

3. Risk Management & Internal Controls (RCSA):

- Own and manage the Risk and Control Self-Assessment (RCSA) framework for the Finance & Accounts department.

- Continuously test and update internal financial controls (IFC), identify process risks, implement mitigation strategies, and ensure a zero-surprise audit environment.

4. Projects and Automation:

- Drive strategic initiatives within the CFO's function to improve, collaborate on cross-functional projects involving multiple departments to deliver organization-wide impact.

- Well versed with excel, Power query, Power BI and use of AI.

- Implement automation tools and technologies for financial reporting processes to reduce manual efforts and enhance accuracy.