Manager, Finance

Job Summary

All accounting and finance tasks for the India Branch, including technical administration and financial accounting, companies act requirements, Income tax and other tax requirements, Investment returns and other investment activities, Payments, Reconciliations. Preparation of financials as per IRDA regulations and IFRS requirements. This executive will serve as a key advisor to the CFO of the branch on a wide range of strategic, management, and financial matters. He/She will ensure that the entity is in compliance with all local regulatory, statutory requirements, group reporting requirements and other matters as prescribed below. To ensure group requirements are fulfilled; close coordination will be required with the Singapore HUB Finance team, P&C and Life Division, centralized Group functions such as SCOR SE and Group Finance, Treasury, Capital Management, Tax, SCOR Global Investments, the Group Consolidation team and the IFRS Centre of Excellence.

Key duties and responsibilities

Overview of the key functions and high-level responsibilities for the job holder (3 or 4 with objectives and KPIs when possible)

Taxation:

• Advance Income tax calculation and payments
• Preparation and submission of Income tax returns
• Processing of all tax related transactions and reconciliation of all tax related GL accounts.
• Co-ordination with HUB Head of Taxation on tax provisions and any tax risks
• Discussion on above Tax workings with Tax consultants.
• Liaising with & providing required data to Tax consultants for getting NIL / Lower TDS certificates
• GST liability calculations and payments
• Reviewing the annual GST return and ensuring that the annual GST audit is completed in a timely manner
• Liaising with the Tax consultants for:
• a. completion of Tax Assessment
• b. submission of information's sought by Tax departments
• c. responding to notices received from Tax departments

IFRS:

• Complete IFRS reporting in accordance with APAC Hub and group calendar and timetable
• Liaising with the Paris & SG Hub team for reviewing the data in IFRS16 (SLM) tool & updating it whenever necessary
• IFRS 17 implementation

Investments & Treasury:

• Co-ordination of investment activities with AP Head of Investments and Treasury.
• Analysis and optimization of investment portfolio bearing in mind local solvency rules
• Review and reconciliation of all investment related GL accounts.
• Preparation and explanation of treasury submissions including cash flow forecasts;
• Administration of all treasury related transactions if support is needed from AP HUB for local contexts

Statutory Reporting:

• Preparations of annual statutory financial statements
• Ensuring proper and timely audit of the same
• Work closely with HUB to ensure Statutory requirements are complied with.

IRDA reporting:

• Preparations and filing of Regulatory Returns prescribed by IRDA
• Work closely with HUB to ensure all Regulatory requirements are complied with

Group quarterly closing requirements:

• Comply with group’s quarterly closing requirements as per Group’s calendar and Timetable

Budgeting Controls:

• Preparation of annual branch budget;
• Variance analysis, comparison of actual expenses with Budgets to exercise control over actual expenses

Other Matters:

• Monitoring of any foreign exchange exposure and co-ordination of any hedging needs
• Companies Act related documentation;
• Preparation of presentation for Executive Committee & for Branch Clearance presentations
• Preparation of Solvency projections
• Coordination with SG Hub for new project implementations in India Branch
• Preparing data for Adhoc request's received from SG Hub / Paris team

Experience:

• Minimum 7 years in Finance and accounts team in an insurance / reinsurance organization

Competencies:

• Well versed in MS Office, SAP and good communication skill.
• Should be well versed with IRDA regulations, local Taxation rules, GST rules, Local accounting standards.

As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying “The Art & Science of Risk,” SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society in around 160 countries worldwide.

Working at SCOR means engaging with some of the best minds in the industry – actuaries, data scientists, underwriters, risk modelers, engineers, and many others – as we work together to find solutions to pressing challenges facing societies.

As an international company, our common culture is defined by “The SCOR Way.” Serving both to build momentum that drives the Group forward and as a compass to guide our actions and choices, The SCOR Way is anchored by five core values, reflecting the input of employees at all levels of the Group. We care about clients, people, and societies. We perform with integrity. We act with courage. We encourage open minds. And we thrive through collaboration.

SCOR supports inclusion and the diversity of talents, and all positions are open to people with disabilities.