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Senior Manager Accounts

Employer
Masen Pvt Ltd
Location
Mumbai Mumbai Maharashtra, Maharashtra, India
Salary
Competitive Salary
Closing date
Jun 25, 2024

View more

Job Role
Management Accountant
Sector
Finance
Contract Type
Permanent
Hours
Full Time
Department: Accounts

Reporting to: VP- Accounts

Designation: Senior Manager



Location:
Mahalakshmi, Mumbai

What are we looking for?

1) Responsible for monthly Policy Loan Accounting including loan reconciliation,

passing loan entries in SAP and preparing loan register,

2) Responsible for Policyholder suspense balance analysis and review including

preparing in-depth analysis of policyholders suspense balances, analysing

payable/receivable amount and coordination with Ops team for actioning

3) Processing day-to-day Journal Entries in Life Asia / Group Asia system and

processing Unit Journal Entries in Life Asia

4) Passing of monthly accounts closing entries on Policyholder debit balance

provision, premium suspense related entries such as premium received in

advance, unallocated premium, payable to policyholders, proposal deposit refund

etc

4) Responsible for unclaimed regulatory reporting including preparation of

Unclaimed Form A, B and C, BAP reporting etc

5) Supervising and handling of policyholder payable and unclaimed accounting

6) Handling of Statutory / Internal Audit related to Policy Loan and Policyholders

suspense accounts

7) Responsible for preparation of MIS reporting - Internal and Regulatory

What does the job entail?

1) Responsible for monthly Policy Loan Accounting - a) policy loan reconciliation,

b) passing loan accounting entries in SAP for collection, settlement, interest

accrual, standard loan provision and c) preparing loan register, d) raising loan

settlement reconciliation recon findings with Operations team and following up

on actioning e) providing loan details to auditors,

2) Responsible for passing / checking monthly accounts closing entries related to

Policyholder debit balance provision, premium suspense related entries such as

premium received in advance, unallocated premium, payable to policyholders,

proposal deposit refund etc

3) Responsible for monthly preparation of in-depth Policyholder suspense

balance analysis for payable to policyholders, unclaimed amount, unallocated

premium etc and coordination with Operations team for reasoning and reduction

of suspense balances

4) Responsible for preparation of policyholder suspense debit balance analysis,

monitoring and follow up for recovery / rectification

5) Responsible for Unclaimed regulatory reporting - Unclaimed Form A, B and C

and BAP reporting including preparation of reports, coordination with

stakeholders for inputs etc

6) Handling Policyholder unclaimed balance transfer (>10Y) to Senior Citizen

Welfare Fund in coordination with stakeholders, identification/ finalizing SCWF

transfer list, passing Journal Voucher entry in Life Asia, ensuring timely fund

transfer and reporting of SCWF numbers

7) Processing day-to-day Unit Journal processing and Journal Entry passing in

Policy Admin System (Life Asia) and supporting new business / policy servicing

operations

8) Handling of Statutory / Internal Audit queries

9) Maintaining JV and activity tracker on daily basis and reporting JV dashboard

10) Analysing and raising queries with respective team for automation in

system, so that number of JVs to get reduced

11) Automation of suspense reports with BI / using excel macros

Education:

- CA / ICWA

Work exp:

CA Finance with 3 years of experience

Life Asia system and knowledge on basic accounting

Experience of working with Insurance companies

Analysing of Policyholder Suspense Accounts and Basic Accounting Knowledge

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