Job Description

Role Summary:

Being part of GL Accounting and Controls team where work would consist of ensuring end to end accounting cycle of Life Insurance Business including day to day operations and proper accounting of Insurance technical accounts like Premium, Commission, Benefits paid to Policyholders etc and testing of accounting for new product launches.

Key Focus areas:

• Ensuring adequate checks and controls over accounting of Life Insurance technical accounts like Premium, Commission, Benefits paid, Reinsurance, Policy Loan and Unclaimed amount to Policyholders.
• Monitoring the entry flow from source systems to the Financial accounting system, Oracle, and follow up on errors with the relevant stake holders.
• Ensure timely closure of month end activities including reconciliation and resolution of open items pertaining to various Control accounts in General Ledger.
• Reconciliation of policy wise benefits paid like claims, surrenders, maturities, survival benefits etc as per financial records to those maintained by Operation team along with the preparation of schedule showing the movement (opening, newly accounted, paid and closing balance) in these benefits paid in a quarter.
• The balances as per the Commission Administration system need to be reconciled with the financial system monthly and resolve the same. Schedules Distributor wise payable balances along with the ageing to be prepared at month end and follow-up with operation for closure of ageing more than 90 days.
• The suspense balances on a policy wise basis as per financial records to be reconciled with the policy administration system on a regular basis. Differences need to be taken up with Operations and IT for resolution.
• Assist in timely testing of new products/old product retesting from systems & accounting (complete End to End) perspective so as to enable the sales launch effectively. Documenting the test cases and results
• Active Support in closure of Audits of above treasury operations and accounting area.
• Assist in data preparation for IRDA reporting requirement.

Qualifications & Competencies:

• CA Fresher with articleship experience in a mid size audit firm handling audit and accounting of BFSI clients
• Good knowledge of Accounting Standards.
• Strong oral and written communication skills and be able to manage key stakeholder relationships

across the organization

• Ability to take ownership and deliver within scheduled timelines

More Info

Education