AVP - Balance Sheet Accountant - Mumbai -… at M&G Global… · Hybrid -…

Role Name - AVP Balance Sheet Accountant

Location - Mumbai - Hybrid Model

Summary -

The Reporting Production team is responsible for producing the financial statements for M&G Insurance reporting. The reporting team has responsibility for financial, statutory and regulatory reporting.

The balance sheet and revenue/ expense team is responsible for maintaining and verifying the accuracy of all related line items in the financial statement, ensuring that each entry reflects the true financial performance and position while ensuring the adherence to both UK GAAP and IFRS. This team is tasked with staying abreast of changes and updates in accounting standards and regulations and implementing necessary changes to financial reporting processes and controls to ensure ongoing compliance.

A vacancy has arisen in this team to ensure the delivery of accurate and timely financial reports that comply with regulatory and accounting standards. The role involves the production of financial data to ensure the accuracy of financial reporting and integrity of the financial statements, it also demands an ability to adapt regulatory changes and produce compliant financial statements while providing guidance and assistance to the team as needed

• Responsible for the accurate financial reporting of the balance sheet/ income statement (both on a Group and local statutory basis) to ensure compliance with accounting standards (UK GAAP, IFRS) and local regulatory requirements (Solvency II) and maintain the balance sheet/ income statement accounts in the statutory ledgers for the assigned M&G Insurance entities
• Perform the quarterly GL close and reconciliations for complex areas of the Balance Sheet/ Income Statement ensuring the accuracy and completeness thereof
• Support the team to complete the quarterly GL close and reconciliations for assets and liabilities/ movements of revenue and expenses
• Prepare and support all workings for input into Tagetik for disclosures purposes ensuring compliance with reporting requirements
• Conduct and supervise the detailed analysis of charges and expenses for the Unit -Linked business at product level. Provide insights based on analysis.
• Prepare and support all Solvency II workings for input into Tagetik and ensuring compliance with Solvency II reporting requirements (i.e. quarterly and annual quantitative reporting templates (QRTs) for Solvency II Balance sheet, Assets and Own Funds and Premiums, claims and expenses)
• Support the resolution of validation errors into the consolidation tool
• Support the facilitation of the late adjustment process and work with Finance Operations to meet tight deadlines
• Ensure compliance with current accounting standards and Insurance procedures to maintain a robust financial control regime
• Act as a key point of contact between the finance team and the lead. Supporting the Senior manager and other team members in their duties, providing guidance and assistance as needed.
• Support the implementation of new accounting standards and delivery of other finance change projects including ad hoc projects to support continuous improvements and process enhancements
• Internal and external audit support for areas of responsibility
• Collaborate effectively with colleagues & maintain effective working relationships with other teams across M&G Finance, ensuring that insurance reporting needs are communicated, understood and met

If interested, please share your resume on riya.bharadwaj@mandg.com.