Senior Finance Manager

Senior Finance Manager job is available in Mumbai India if one meets the requirement then apply and start your career. All the details of this job are available in the article given below, read the article completely and apply accordingly to get the best start of your career.

Senior Finance Manager

Location	Mumbai, Maharashtra, India
Salary	Competitive salary
Posted	26 Oct 2024
Last date to apply	24 Nov 2024
Job role	Finance manager
Sector	Banking and financial services
Experience	Manager

Senior Finance Manager

XLICSE, India Reinsurance Branch

With offices throughout the EU, Australia, Hong Kong, Singapore, Malaysia, and India, XLICSE is an insurance company based in Ireland. It mainly writes facultative reinsurance and property, liability, and specialty insurance for major insurance firms as well as national and international corporations. AXA XL, a division of AXAgroup, which also conducts business in a number of jurisdictions across the globe, includes XLICSE.
The Mumbai-based reinsurance business, which received its certificate of registration from IRDAI in 2017, is in a good position to grow and serve AXA XL’s clientele in India.

In your role as Senior Finance Manager of the India Reinsurance office, you will be the Controller and Strategic Business Partner for all financial affairs.

As a Key Management Position governed by the Insurance Regulatory and Development Authority of India (IRDAI), you will carry out the duties of the Chief Financial Officer. As a Key Management Personnel (KMP), you will also be a part of the branch executive committee, which is in charge of managing the branch and creating the overall strategy and direction.

DISCOVER your opportunity

What are your primary duties going to be?

Business Partnering

• Collaborate with the CEO to gain a comprehensive understanding of the company’s finances, offer suggestions for enhancements, and assess the viability of different projects.
• Coordinate with business stakeholders and oversee annual planning, rolling forecasts, and projections in accordance with the organization’s long-term strategic vision.
• Establish a structure for measuring success and encourage business units to take responsibility for their actions. Increase forecasting accuracy by thoroughly examining the business cycle and historical trends.
• Continually searching for more effective methods to use reporting and analysis to give the country manager timely data and support.
• Keep a close eye on the factors that contribute to expenses and collaborate with the company to guarantee the most effective cost structure.
• Oversee and direct the finance staff with two primary goals:
  1) guarantee that business and functional leaders receive ‘best in class’ finance support through committed business partner resources.
  2) Controllership resources that guarantee compliance with reporting, governance, and control needs and are in line with legal organizations.

Promote and cultivate strong working connections with Treasury, Actuarial Reserving, FinOps, ERM, Capital Management, Compliance, Investment Accounting, Internal Audit, and Tax, and contribute to their procedures as needed.

Financial Operations

• Knowledge of the financial and operational systems, as well as oversight of internal controls over processing and/or systems to guarantee timely production of monthly or quarterly accounts.
• Conduct efficient reviews of financial statements, management accounts, and regulatory returns; delve into the underlying information and offer comprehensive analysis.
• Making sure the finance team and other departments have the training they need to make the switch to IFRS 17 as needed. Ensure timely management of both internal and external reporting. Immediately involve all pertinent stakeholders, including tax authorities, actuaries, auditors, and regulators.
• Manage outside parties, such as IRDAI, auditors, actuaries, bankers, tax consultants, etc., effectively and efficiently.
• In addition to all external reporting requirements, review and occasionally participate in the creation of internal Board and Management MI pertaining to the legal entities.

• Oversee all tax-related issues with the tax team and make sure that any open audits are closed on schedule and that tax returns are submitted on time.
• To guarantee that there is no financial violation, manage the accounts in accordance with regulatory requirements.
• Assess accounting and financial practices, including middle- and back-office investment activities, and offer suggestions for modifications to control functions and procedures.
• Communicate with internal and external auditors and actuaries regarding questions and concerns pertaining to audits and actuarial matters. This entails addressing audit concerns and informing other business functions about data requirements.

Capital Management

• Make sure any information sent to regulators, whether quarterly, annually, or on an as-needed basis, is timely and complies with legal standards.
• Quarterly reconciliation of management, statutory, and regulatory accounts.
• Respond to regulator inquiries in a timely and effective manner and supply them with ad hoc data, surveys, etc. as required.
• Control financial risk in accordance with the legal entity risk framework, which includes market, credit, and liquidity risk; when necessary, assist with stress testing.
• Create capital predictions every three months and give management insightful information. Establish a monitoring and control procedure to keep the capital adequacy ratio under control.
• Put the capital management plan into effect and collaborate closely with all pertinent parties to make sure that the required steps are completed on time.
• Onboard RBC promptly, give management regular updates, create the capital projection under RBC before implementation, and guarantee that the branch always has enough capital.

• With a secondary reporting line to the Head of Finance Asia, you will answer to the Chief Executive Officer, Mumbai Branch.

SHARE your abilities and skills

We’re looking for someone who has these abilities and skills:

• Qualifications and Work Experience: 10 years or more of relevant work experience, ideally in the insurance sector, as a chartered accountant.
• Industry Knowledge: Demonstrated expertise in reinsurance, including a thorough comprehension of the performance drivers of a technical P&L for reinsurance and how these variables interact.
• Strategic Leadership: Lead by example by establishing high standards for dedication, performance, and engagement. demonstrates initiative. the capacity to lead on one’s own. Lead with innovative ideas while listening and interacting with others. Persuasion skills as well as the ability to carry out significant advancements and broad innovation. Review ingrained assumptions in an effective and suitable manner, make good process changes, boost transparency, and enhance comprehension among broader stakeholders.
• Strong Collaborator: Establish and preserve fruitful working connections with stakeholders both inside and outside the company. To get the greatest outcome, offer advice and solicit opinions from others as necessary. enjoys negotiating a setting with conflicting interests.
• Effective Communicator: Proficient oral and written communication, presentation, and persuasion abilities are necessary. able to interact with stakeholders both inside and outside the company at any level of complexity.
• Results-oriented: a sharp aptitude for carrying out and producing outcomes. Anticipate needs and take a proactive approach to chores. Quick thinking and the ability to (re-)prioritize various work streams, projects, or activities without compromising quality are essential. Be quick to take action. possesses knowledge of and expertise in project management. the capacity for broad thinking and a predilection for future planning.

How to apply

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