Job Description
Key Responsibilities
AccountabilityKey Performance Indicators1. Preparation of Financial Statements under Indian GAAP, IFRS
• Preparation of Financial Statements in the format and as per the regulations prescribed by IRDAI & in line with the Accounting Statements issued by ICAI
• Identifying differences between Indian GAAP & IFRS and preparation of financials as per IFRS for group company reporting
• Obtaining unqualified statutory audit report
• Supporting internal audits of accounting processes to ensure highest operating effectiveness ratings. Setting up an internal control framework for the organisation
• Ensuring timely resolution of management points
2. Vendor & Employee payments
• Ensuring timely payment to vendors and employees
• Ensuring payments are adequately supported and in accordance with Company policy
• Preparing bank reconciliation statements and ensuring reconciling items are dealt promptly
• Documentation of accounts close process and compliance with same.
• Compliance with Munich guidelines and Indian Companies Act
3. Internal reporting
• Assisting in providing high quality internal monthly and quarterly
4. Compliance with Tax regulations - withholding tax, remittance and filing Returns
• Ensuring GST and Income Tax compliance measured by timely and accurate filing of all Tax returns (except payroll withholding tax).
• Following up on tax assessments and prompt response to tax notices and following up on refunds
• Ensuring compliance with the withholding tax obligations while making payments to vendors
5. Manage cash flows
• Ensuring idle funds are invested in safe bank deposits on a timely basis
• Ensuring also sufficient funds are maintained to support cheques issued
6. Data storage for business continuity
• Ensuring all key documents and supporting proofs are properly archived (soft copies as well)
7. Company law compliance
• Supporting maintenance of board minutes
• Ensuring timely filing of Annual returns as per provisions of Companies Act
Education & Experience
Essential : Chartered Accountant (up to 2nd attempt) with 2-3 years of post-qualification experience.
Relevant experience in accounting and finalisation of accounts; working knowledge on Indian GAAP &
IFRS
Good to Have: Experience of Financial sector industry would be preferred; Hands on Power Bi
knowledge
Competencies:
• Good Communication & Presentation Skills
• Ability to work in a team & take ownership of their work
• Have an eye for detail and emphasize on accuracy
About Munich Re:
Founded in 1880, Munich Re Group is one of the world’s leading providers of reinsurance,
primary insurance and insurance-related risk solutions.
As pioneers in risk assessment, we drive the digital transformation of the global insurance
landscape, expanding products and services as new forms of risk emerge. From space rocket
launches to cyber- attacks, from high net worth individual life cover to pandemics, we take care
of risks, so our clients can take care of their business.
Across Asia Pacific, Middle East and Africa, we operate life and health and non-life reinsurance
as well as primary insurance businesses, providing global career development opportunities
and prospects to more than 1+00 team members in 20 locations. We started supporting clients
in the Indian market in 1+51 and established our India Branch in Mumbai in 2017 to service the
Non-Life and Life reinsurance markets in India, Sri Lanka and Bangladesh
AccountabilityKey Performance Indicators1. Preparation of Financial Statements under Indian GAAP, IFRS
• Preparation of Financial Statements in the format and as per the regulations prescribed by IRDAI & in line with the Accounting Statements issued by ICAI
• Identifying differences between Indian GAAP & IFRS and preparation of financials as per IFRS for group company reporting
• Obtaining unqualified statutory audit report
• Supporting internal audits of accounting processes to ensure highest operating effectiveness ratings. Setting up an internal control framework for the organisation
• Ensuring timely resolution of management points
2. Vendor & Employee payments
• Ensuring timely payment to vendors and employees
• Ensuring payments are adequately supported and in accordance with Company policy
• Preparing bank reconciliation statements and ensuring reconciling items are dealt promptly
• Documentation of accounts close process and compliance with same.
• Compliance with Munich guidelines and Indian Companies Act
3. Internal reporting
• Assisting in providing high quality internal monthly and quarterly
4. Compliance with Tax regulations - withholding tax, remittance and filing Returns
• Ensuring GST and Income Tax compliance measured by timely and accurate filing of all Tax returns (except payroll withholding tax).
• Following up on tax assessments and prompt response to tax notices and following up on refunds
• Ensuring compliance with the withholding tax obligations while making payments to vendors
5. Manage cash flows
• Ensuring idle funds are invested in safe bank deposits on a timely basis
• Ensuring also sufficient funds are maintained to support cheques issued
6. Data storage for business continuity
• Ensuring all key documents and supporting proofs are properly archived (soft copies as well)
7. Company law compliance
• Supporting maintenance of board minutes
• Ensuring timely filing of Annual returns as per provisions of Companies Act
Education & Experience
Essential : Chartered Accountant (up to 2nd attempt) with 2-3 years of post-qualification experience.
Relevant experience in accounting and finalisation of accounts; working knowledge on Indian GAAP &
IFRS
Good to Have: Experience of Financial sector industry would be preferred; Hands on Power Bi
knowledge
Competencies:
• Good Communication & Presentation Skills
• Ability to work in a team & take ownership of their work
• Have an eye for detail and emphasize on accuracy
About Munich Re:
Founded in 1880, Munich Re Group is one of the world’s leading providers of reinsurance,
primary insurance and insurance-related risk solutions.
As pioneers in risk assessment, we drive the digital transformation of the global insurance
landscape, expanding products and services as new forms of risk emerge. From space rocket
launches to cyber- attacks, from high net worth individual life cover to pandemics, we take care
of risks, so our clients can take care of their business.
Across Asia Pacific, Middle East and Africa, we operate life and health and non-life reinsurance
as well as primary insurance businesses, providing global career development opportunities
and prospects to more than 1+00 team members in 20 locations. We started supporting clients
in the Indian market in 1+51 and established our India Branch in Mumbai in 2017 to service the
Non-Life and Life reinsurance markets in India, Sri Lanka and Bangladesh
💡 Quick Summary
Seeking a career-building opportunity? The Financial Accountant position is now open for candidates interested in the Accountant Jobs sector. This role in Mumbai offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Accountant Jobs is a plus.
