As a member of the GL Accounting and Controls team within the Life Insurance Business, your role will involve ensuring the end-to-end accounting cycle, including day-to-day operations and proper accounting of insurance technical accounts such as Premium, Commission, and Benefits paid to Policyholders. You will also be responsible for testing the accounting for new product launches.

Key Responsibilities:

• Ensure adequate checks and controls over the accounting of Life Insurance technical accounts like Premium, Commission, Benefits paid, Reinsurance, Policy Loan, and Unclaimed amounts to Policyholders.
• Monitor the entry flow from source systems to the Financial accounting system (Oracle) and follow up on errors with relevant stakeholders.
• Ensure timely closure of month-end activities, including reconciliation and resolution of open items related to various Control accounts in the General Ledger.
• Reconcile policy-wise benefits paid (e.g., claims, surrenders, maturities, survival benefits) as per financial records with those maintained by the Operation team. Prepare schedules showing the movement in these benefits paid quarterly.
• Reconcile balances as per the Commission Administration system with the financial system monthly and resolve any discrepancies.
• Prepare distributor-wise payable balances along with aging at month-end and follow up with operations for closure of aging more than 90 days.
• Reconcile suspense balances on a policy-wise basis as per financial records with the policy administration system regularly. Resolve any differences with Operations and IT.
• Assist in timely testing of new products/old product retesting from systems & accounting perspective. Document test cases and results.
• Provide active support in the closure of audits related to treasury operations and accounting area.
• Assist in data preparation for IRDA reporting requirements.

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 the ability to manage key stakeholder relationships across the organization.
• Ability to take ownership and deliver within scheduled timelines. As a member of the GL Accounting and Controls team within the Life Insurance Business, your role will involve ensuring the end-to-end accounting cycle, including day-to-day operations and proper accounting of insurance technical accounts such as Premium, Commission, and Benefits paid to Policyholders. You will also be responsible for testing the accounting for new product launches.

Key Responsibilities:

• Ensure adequate checks and controls over the accounting of Life Insurance technical accounts like Premium, Commission, Benefits paid, Reinsurance, Policy Loan, and Unclaimed amounts to Policyholders.
• Monitor the entry flow from source systems to the Financial accounting system (Oracle) and follow up on errors with relevant stakeholders.
• Ensure timely closure of month-end activities, including reconciliation and resolution of open items related to various Control accounts in the General Ledger.
• Reconcile policy-wise benefits paid (e.g., claims, surrenders, maturities, survival benefits) as per financial records with those maintained by the Operation team. Prepare schedules showing the movement in these benefits paid quarterly.
• Reconcile balances as per the Commission Administration system with the financial system monthly and resolve any discrepancies.
• Prepare distributor-wise payable balances along with aging at month-end and follow up with operations for closure of aging more than 90 days.
• Reconcile suspense balances on a policy-wise basis as per financial records with the policy administration system regularly. Resolve any differences with Operations and IT.
• Assist in timely testing of new products/old product retesting from systems & accounting perspective. Document test cases and results.
• Provide active support in the closure of audits related to treasury operations and accounting area.
• Assist in data preparation for IRDA reporting requirements.

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 the ability to manage key stakeholder relationships across the organization.
• Ability to take ownership and deliver within scheduled timelines.